$3,525,000
Phoenix, AZ 85032
MLS# 5769191
Status: Closed
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Property Description
Fully remodeled turnkey property! The Paradise Square Apartments is a fully renovated and modernized complex with an excellent unit mix of 40 large two-bed and 2 one-bed units in a prime high demand North Phoenix community. The complex consists of two separate properties adding additional value to the assets. All of the units have a back yard or a balcony. Remodeled to the 9's using on trend fixtures and decor. Amenities included gated access, pool, BBQ's outdoor seating and laundry for additional income. Tenants have easy access to Bell Road and the 51 freeway. Individually metered! Sale includes 3029 E Paradise.
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $3,525,000
Sold Price: $3,525,000
Status: Closed
List Date: 2018-05-21
Location, Tax & Legal
Assessor's Map #: 36
Legal Description (Abbrev): KAY ACRES 3 LOT 28 W 149.78' OF E 449.34' EX N 30' RD
Assessor's Parcel #: 3
Assessor Parcel Ltr: E
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 103304
Taxes: 15281
Legal: KAY ACRES 3 LOT 28 W 149.78' OF E 449.34' EX N 30' RD
Marketing Name: Paradise Square Apartment
Map Code/Grid: L35
House Number: 3015
Compass: E
Street Name: PARADISE
St Suffix: Lane
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85032
Zip4: 8219
County Code: Maricopa
Subdivision: KAY ACRES 3 LOTS 38-40, 42-45, 47-50
Assessor Number: 214-36-003-E
Tax Year: 2017
General Property Description
# of Buildings: 4
Uncvrd Parking Spcs: 56
Lot Size Dimensions: UNK
Total # of Units: 42
Elementary School District: Paradise Valley Unified District
High School District: Paradise Valley Unified District
Year Built: 1985
Zoning: R-3
Legal Info
Range: 3E
Section: 2
Township: 3N
Lot Number: 28
Project Type
25 - 50 Units: 1
Construction
Block: 1
Const - Finish
Stucco: 1
Roofing
Composition: 1
Floors
Ceramic Tile: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 0
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 0
Annual Mgmt Exp: 0
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 0
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 15281
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 0
Pmt & Rate Info
Down Payment: 0
Equity: 3595000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Community Features
Pool: 1
Heating
Electric: 1
Cooling
Central Air: 1
Tenant Pays
Electricity: 1
Appliances Included
Free-Standing Range: 1
Refrigerator: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
>1 Space Per Unit: 1
Paved: 1
Electric
APS: 1
Gas
SW Gas: 1
Owner Pays
Water: 1
Sewer: 1
Gas: 1
Trash Collection: 1
Landscaping: 1
New Financing
Other (See Remarks): 1
Existing 1st Loan
Other (See Rmks): 1
Existing 2nd Loan
Other (See Remarks): 1
Existing 3rd Loan
Other (See Remarks): 1
Reports/Disclosures
Other (See Remarks): 1
Environmental
Other (See Remarks): 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 2
Avg Rent: 650
Avg SqFt: 760
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 40
Avg Rent: 750
Avg SqFt: 820
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Conventional
Closing Cost Split: Normal - N
Payment Type: Adjustable
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: Paradise Lane and 32nd Street
Directions: West on Paradise to property on South Side of Street
Geo Lat: 33.633034
Geo Lon: -112.016935
Status Change Info
Off Market Date: 2018-06-28
Under Contract Date: 2018-06-27
Close of Escrow Date: 2018-08-24
Sold Price: $3,525,000
Property Features
Project Type: 25 - 50 Units
Construction: Block
Const - Finish: Stucco
Roofing: Composition
Floors: Ceramic Tile
Sale Includes: Land & Building
Community Features: Pool
Appliances Included: Free-Standing Range; Refrigerator
Cooling: Central Air
Water Source: City Franchise
Sewer: Sewer - Public
Electric: APS
Gas: SW Gas
Parking Features: >1 Space Per Unit; Paved
Owner Pays: Water; Gas; Trash Collection; Landscaping
Tenant Pays: Electricity
Source of Fincl Data: Owner
Existing 1st Loan: Other (See Rmks)
Existing 2nd Loan: Other (See Remarks)
Existing 3rd Loan: Other (See Remarks)
Existing Othr Ln Trm: Not Applicable
New Financing: Other (See Remarks)
Environmental: Other (See Remarks)
Listing Office: GPCI AZ
Last Updated: June - 12 - 2020
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