103 E BRINKER Drive, Avondale, AZ 85323
$3,750,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$3,750,000
Last Modified:
1/31/2025
Overview
Description
DO NOT DISTURB TENANTS - DO NOT WALK PROPERTY.Uniquely situated within Avondale's central corridor, Parkside Palms Apartments offers a selection of 1/1, 2/1 & 3/1 floor plans surrounded by green-scaped courtyards in a very low-density setting. Significant recently completed capital upgrades incl complete roof repair/resurfacing, parking lot resurfacing, exterior repaint, remodelled leasing office and re-plastered code-compliant swimming pool. Plus, 65% of the units have had cabinets, counters, vanities, tiled tub and shower surrounds, 6-panel doors, tile flooring, appliances & fixtures replaced during 2015-2016. Ownership has significantly upgraded property to result in steady rent growth now at the $1.00/SF mark.
Listing Details MLS# 5539374
Location, Tax & Legal
- Map Code/Grid
- R32
- House Number
- 103
- Compass
- E
- Street Name
- BRINKER
- St Suffix
- Drive
- City/Town Code
- Avondale
- State/Province
- AZ
- Zip Code
- 85323
- Zip4
- 1928
- County Code
- Maricopa
- Subdivision
- DIECI ESTATES
- Assessor Number
- 500-18-037
- Tax Year
- 2015
- Assessor's Map #
- 18
- Legal Description (Abbrev)
- LOT A DIECI ESTATES
- Assessor's Parcel #
- 37
- Add'l Parcels
- Yes
- Tax Municipality
- Avondale
- Census Tract
- 61200
- Taxes
- 11898
- Legal
- LOT A DIECI ESTATES
- Marketing Name
- Parkside Palms
Contract Info
- Ownership
- Fee Simple
General Property Description
- Lot Size Dimensions
- irreg
- Year Built
- 1964
- Uncvrd Parking Spcs
- 122
- Total # of Units
- 54
- # of Buildings
- 24
- Zoning
- M-M, R-3
- Elementary School District
- Avondale Elementary District
- High School District
- Agua Fria Union High School District
Remarks Misc
- Cross Street
- Central and Brinker
- Directions
- I-10 west to Dysart Road, south on Dysart to Van Buren, West on Van Buren to Central Avenue, south on Central to Brinker, East to property.
Status Change Info
- Off Market Date
- 2017-02-23
- Under Contract Date
- 2017-01-08
- Close of Escrow Date
- 2017-03-13
Legal Info
- Township
- 1N
- Range
- 1W
- Section
- 10
- Lot Number
- A
More Information
Income Expenses
- Gross Annual Sch Inc
- 510120
- Net Operating Income
- 321446
1 Bedroom Units
- # 1 Bedroom Units
- 12
- Avg Rent
- 675
- Avg SqFt
- 448
- # Baths
- Yes
2 Bedroom Units
- # 2 Bedroom Units
- 26
- Avg Rent
- 775
- Avg SqFt
- 768
- # Baths
- Yes
3 Bedrooms Units
- # 3 Bedroom Units
- 16
- Avg Rent
- 875
- Avg SqFt
- 960
- # Baths
- Yes
Contact Info
- List Agent Home Phn
- 602-243-7499
Sold Info
- Loan Type
- Conventional
- Loan Years
- 30
- Payment Type
- Fixed
- Closing Cost Split
- Normal - N
- Buyer Concession $/%
- $
- Seller Concession $/%
- $
- Buyer Concession to Seller
- 0
- Seller Concession to Buyer
- 0
Project Type
- 51 - 99 Units
- Yes
Construction
- Block
- Yes
Const - Finish
- Painted
- Yes
- Brick Veneer
- Yes
Roofing
- Built-Up
- Yes
Floors
- Ceramic Tile
- Yes
- Carpet
- Yes
Sale Includes
- Land & Building
- Yes
- Personal Property
- Yes
- Pool Equipment
- Yes
Income & Expenses
- Annual Elec Exp
- 9752
- Annual Gas Exp
- 2586
- Annual Ins Exp
- 8474
- Annual Land Lse Exp
- 0
- Annual Landscape Exp
- 0
- Annual Legal & Acctg
- 17931
- Annual Maint Exp
- 57074
- Annual Mgmt Exp
- 15809
- Annual Trash Exp
- 7137
- Annual Wtr/Swr Exp
- 34833
- Owner Association
- No
- Annual Ownr Asoc Fee
- 0
- Annual PAD Fee
- 0
- Annual Rplcmnt Rsrvs
- 10800
- Annual Other Expense
- 0
- Operating Exp
- 176294
- Other Income
- 9045
- Vacancy Allowance
- 0.04
- Adjusted Gross Inc
- 497360.07
Pmt & Rate Info
- Cap Rate
- 7.99
- Down Payment
- 4025000
- Equity
- 4025000
- Down Payment %
- 100
- Monthly Payments
- 0
- Total Owed
- 0
- Assessment Balance
- 0
Community Features
- Pool
- Yes
- Manager Res/Office
- Yes
- Play Area
- Yes
- Barbecue
- Yes
Heating
- Heat Pump
- Yes
- Electric
- Yes
Cooling
- Electric
- Yes
- Heat Pump
- Yes
Exterior Amenities
- Landscape Water System
- Yes
- Green Landscaping
- Yes
- Desert Landscaping
- Yes
- Cable TV Available
- Yes
- Security Light(s)
- Yes
Interior Features
- Unfurnished
- Yes
- Fire/Smoke Alarm(s)
- Yes
Tenant Pays
- Gas
- Yes
- Electricity
- Yes
- Cable TV
- Yes
Appliances Included
- Refrigerator
- Yes
- Free-Standing Range
- Yes
Road Surface Type
- Asphalt
- Yes
- Concrete
- Yes
Source of Fincl Data
- Owner
- Yes
Water Source
- City Franchise
- Yes
Sewer
- Sewer - Public
- Yes
Parking Features
- >1 Space Per Unit
- Yes
- Paved
- Yes
Electric
- APS
- Yes
Gas
- SW Gas
- Yes
Owner Pays
- Water
- Yes
- Sewer
- Yes
- Trash Collection
- Yes
- Landscaping
- Yes
- Pool Maintenance
- Yes
New Financing
- Other (See Remarks)
- Yes
Existing 1st Loan
- Other (See Rmks)
- Yes
Existing 1st Loan Type
- Not Applicable
- Yes
Existing 1st Loan Terms
- Not Applicable
- Yes
Existing 2nd Loan
- Other (See Remarks)
- Yes
Existing 2nd Loan Type
- Not Applicable
- Yes
Existing 2nd Loan Terms
- Not Applicable
- Yes
Existing 3rd Loan
- Other (See Remarks)
- Yes
Existing 3rd Loan Type
- Not Applicable
- Yes
Reports/Disclosures
- Seller Prop Disc Stm
- Yes
Existing 3rd Loan Terms
- Not Applicable
- Yes
Environmental
- None
- Yes
Existing Othr Ln Trm
- Not Applicable
- Yes
Efficiency Units
- Avg Rent
- 0
4 Bedrooms Units
- Avg Rent
- 0
Property Features
Project Type:
51 - 99 Units
Construction:
Block
Const - Finish:
Painted; Brick Veneer
Roofing:
Built-Up
Floors:
Ceramic Tile; Carpet
Sale Includes:
Land & Building; Personal Property; Pool Equipment
Community Features:
Pool; Manager Res/Office; Play Area; Barbecue
Exterior Amenities:
Landscape Water System; Green Landscaping; Desert Landscaping; Cable TV Available; Security Light(s)
Interior Features:
Unfurnished; Fire/Smoke Alarm(s)
Appliances Included:
Free-Standing Range; Refrigerator
Heating:
Heat Pump
Cooling:
Electric; Heat Pump
Water Source:
City Franchise
Sewer:
Sewer - Public
Electric:
APS
Gas:
SW Gas
Parking Features:
>1 Space Per Unit; Paved
Road Surface Type:
Asphalt; Concrete
Owner Pays:
Water; Trash Collection; Landscaping; Pool Maintenance
Tenant Pays:
Electricity; Gas; Cable TV
Source of Fincl Data:
Owner
Existing 1st Loan:
Other (See Rmks)
Existing 1st Loan Type:
Not Applicable
Existing 1st Loan Terms:
Not Applicable
Existing 2nd Loan:
Other (See Remarks)
Existing 2nd Loan Type:
Not Applicable
Existing 2nd Loan Terms:
Not Applicable
Existing 3rd Loan:
Other (See Remarks)
Existing 3rd Loan Type:
Not Applicable
Existing 3rd Loan Terms:
Not Applicable
Existing Othr Ln Trm:
Not Applicable
New Financing:
Other (See Remarks)
Environmental:
None
Listing Office:
Kasten Long Commercial Group
Last Updated: January - 31 - 2025
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