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Home > 710 E PALM Lane, Phoenix, AZ 85006 (MLS# 6615541)

710 E PALM Lane, Phoenix, AZ 85006

$3,300,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $3,300,000 List Date: 10/09/2023 Last Modified: 3/19/2024

Description

Coronada Historic Neighborhood amazing 12 unit fully furnished property. Great opportunity for short or long term rentals. All units where updated in 2021 and 2022. From AC units to flooring. This is a great turn key opportunity located in the central corridor downtown. Located between 7th street & 16th street from Thomas to McDowell. Easy access to freeways, ASU downtown, UofA, Creighton University campuses and all the downtown experiences. This courtyard apartment complex is a true community driven property. Added value is the vacant lot for future development.

More Information MLS# 6615541

Contract Info

Current Price: $3,300,000 Sold Price: $3,300,000 Status: Closed List Date: 2023-09-29 Ownership: Fee Simple

Location Tax Legal

House Number: 710 Compass: E Street Name: PALM St Suffix: Lane City/Town Code: Phoenix State/Province: AZ Zip Code: 85006 Zip4: 2197 Country: USA County Code: Maricopa Subdivision: LOS OLIVOS HEIGHTS Assessor Number: 117-31-120-A Tax Year: 2022

General Property Description

Lot Size Dimensions: 1668 Year Built: 1963 Uncvrd Parking Spcs: 6 Total # of Units: 12 # of Buildings: 2 Zoning: R-4 Flood Zone: No Elementary School District: Phoenix Elementary District High School District: Phoenix Union High School District Elementary School: Emerson Elementary School Jr. High School: Emerson Elementary School High School: North High School

Remarks Misc

Cross Street: 7th Street and Palm Directions: At 7th street and Palm Lane head east and property is on the NE corner of 8th street and Palm Lane Geo Lat: 33.469606 Geo Lon: -112.064514

Status Change Info

Status Change Date: 2024-03-19 Off Market Date: 2024-02-16 Under Contract Date: 2023-11-21 Close of Escrow Date: 2024-03-19 Sold Price: $3,300,000

Legal Info

Township: 2N Range: 3E Section: 33 Block: 5 Lot Number: 19

Income Expenses

Gross Annual Sch Inc: 244800 Net Operating Income: 197585.16

Showing Notification Methods

Showing Service: Aligned Showings

Efficiency Units

# Efficiency Units: 5 Avg Rent: 1700 Avg SqFt: 350 # Baths: 1

1 Bedroom Units

# 1 Bedroom Units: 5 Avg Rent: 1700 Avg SqFt: 500 # Baths: 1

2 Bedroom Units

# 2 Bedroom Units: 2 Avg Rent: 1700 Avg SqFt: 700 # Baths: 1

Sold Info

Loan Type: Other Payment Type: Other Closing Cost Split: Normal - N Buyer Concession $/%: $ Seller Concession $/%: $

Property Features

Project Type: 5 - 12 Units Other Type: Other (See Remarks) Construction: Block; Frame - Wood Const - Finish: Painted; Stucco Roofing: Comp Shingle Floors: Concrete; Vinyl Sale Includes: Land & Building; Personal Property; Laundry Equipment Community Amenities: No Pool; Barbecue Exterior Amenities: Landscape Wtr System; Desert Landscaping; Fenced; Cable TV Available; Security Light(s) Interior Amenities: Furnished; Vertical Blinds Appliances Included: Refrigerator Heating: Individual Cooling: Ceiling Fan(s); Electric; Individual Water: City Franchise Sewer: Sewer - Public Electric: APS Gas: SW Gas Parking: Street Parking; Free; Paved Parking Owner Pays: Water; Electric; Gas; Trash Collection; Cable TV; Landscaping Tenant Pays: None Source of Fincl Data: Provided by Owner Showing Notification Methods: Text Lockbox Type: See Private Remarks; None Existing 1st Loan: Conventional Existing 1st Ln Trms: Non Assumable New Financing: Conventional Environmental: Phase I Available; Phase II Available
Listing Office: eXp Realty
Last Updated: March - 19 - 2024
710 E PALM Lane, Phoenix, AZ 85006- MLS# 6615541
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