3208 E FLOWER Street, Phoenix, AZ 85018
$3,750,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$3,750,000
Last Modified:
8/23/2023
Overview
Description
Flower 22 is a turn-key, fully renovated 22-unit
community consisting of (14) two-bedroom /
two-bathroom units and (8) one-bedroom /
one-bathroom units. Each spacious unit is appointed
with modern finishes which include new cabinets,
counters, flooring, and appliances. Each unit is
individually metered for electricity and enjoys an
interior washer and dryer. The property recently
received new roofs, landscaping, exterior paint and a
resurfaced parking lot. Flower 22 is conveniently
located near the Biltmore, Phoenix Sky Harbor
International Airport and all the employment, shopping
and dining located on 24th & Camelback.
Listing Details MLS# 6022435
Location, Tax & Legal
- Map Code/Grid
- P35
- House Number
- 3208
- Compass
- E
- Street Name
- FLOWER
- St Suffix
- Street
- City/Town Code
- Phoenix
- State/Province
- AZ
- Zip Code
- 85018
- Zip4
- 6271
- County Code
- Maricopa
- Subdivision
- VALENCIA ACRES
- Assessor Number
- 127-32-020
- Tax Year
- 2019
- Assessor's Map #
- 32
- Legal Description (Abbrev)
- VALENCIA AC LOT 8 EX W 200' .70 AC
- Assessor's Parcel #
- 20
- Add'l Parcels
- No
- Tax Municipality
- Phoenix
- Census Tract
- 110901
- Taxes
- 12356
- Legal
- VALENCIA AC LOT 8 EX W 200' .70 AC
- Marketing Name
- Flower 22
Contract Info
- Ownership
- Fee Simple
General Property Description
- Lot Size Dimensions
- unknown
- Year Built
- 1986
- Uncvrd Parking Spcs
- 25
- Total # of Units
- 22
- # of Buildings
- 2
- Zoning
- R-4
- Elementary School District
- Creighton Elementary District
- High School District
- Phoenix Union High School District
Remarks Misc
- Cross Street
- 32nd Street & Indian School
- Directions
- South to Flower and East to Property.
Status Change Info
- Off Market Date
- 2020-01-28
- Under Contract Date
- 2020-01-24
- Close of Escrow Date
- 2020-05-07
Legal Info
- Township
- 2N
- Range
- 3E
- Section
- 25
- Lot Number
- 8
More Information
Income Expenses
- Gross Annual Sch Inc
- 327720
- Net Operating Income
- 259184
1 Bedroom Units
- # 1 Bedroom Units
- 8
- Avg Rent
- 1095
- Avg SqFt
- 625
- # Baths
- Yes
2 Bedroom Units
- # 2 Bedroom Units
- 14
- Avg Rent
- 1325
- Avg SqFt
- 745
- # Baths
- Yes
Sold Info
- Loan Type
- Conventional
- Loan Years
- 25
- Payment Type
- Fixed
- Closing Cost Split
- Normal - N
- Buyer Concession $/%
- $
- Seller Concession $/%
- $
- Buyer Concession to Seller
- 0
- Seller Concession to Buyer
- 0
Project Type
- 13 - 24 Units
- Yes
Construction
- Wood Frame
- Yes
Const - Finish
- Stucco
- Yes
Roofing
- Composition
- Yes
Floors
- Vinyl
- Yes
Sale Includes
- Land & Building
- Yes
Income & Expenses
- Annual Elec Exp
- 3000
- Annual Gas Exp
- 0
- Annual Ins Exp
- 4400
- Annual Land Lse Exp
- 0
- Annual Landscape Exp
- 1800
- Annual Legal & Acctg
- 0
- Annual Maint Exp
- 7700
- Annual Mgmt Exp
- 16364
- Annual Trash Exp
- 2750
- Annual Wtr/Swr Exp
- 7000
- Owner Association
- No
- Annual Ownr Asoc Fee
- 0
- Annual PAD Fee
- 0
- Annual Rplcmnt Rsrvs
- 5500
- Annual Other Expense
- 7230
- Operating Exp
- 68100
- Other Income
- 15950
- Vacancy Allowance
- 0.05
- Adjusted Gross Inc
- 326486.5
Pmt & Rate Info
- Cap Rate
- 6.71
- Down Payment
- 1188000
- Equity
- 3860000
- Down Payment %
- 30
- Monthly Payments
- 12995.33
- Total Owed
- 0
- Assessment Balance
- 0
Showing Notification Methods
- Yes
Lockbox Type
- None
- Yes
Community Features
- Pool
- Yes
Heating
- Other
- Yes
- See Remarks
- Yes
Cooling
- Other
- Yes
- See Remarks
- Yes
Exterior Amenities
- Guard Gate
- Yes
Tenant Pays
- Electricity
- Yes
Appliances Included
- Dishwasher
- Yes
- Disposal
- Yes
- Microwave
- Yes
- Refrigerator
- Yes
- Free-Standing Range
- Yes
- Washer/Dryer
- Yes
Road Surface Type
- Asphalt
- Yes
Source of Fincl Data
- Owner
- Yes
Water Source
- City Franchise
- Yes
Sewer
- Sewer - Public
- Yes
Parking Features
- >1 Space Per Unit
- Yes
Electric
- Other (See Remarks)
- Yes
Gas
- Other (See Remarks)
- Yes
Owner Pays
- Water
- Yes
- Sewer
- Yes
- Trash Collection
- Yes
- Other
- Yes
- See Remarks
- Yes
New Financing
- Conventional
- Yes
- 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
- Other (See Remarks)
- Yes
Existing 3rd Loan Terms
- Not Applicable
- Yes
Environmental
- None
- Yes
Existing Othr Ln Trm
- Other (See Remarks)
- Yes
Efficiency Units
- Avg Rent
- 0
3 Bedrooms Units
- Avg Rent
- 0
4 Bedrooms Units
- Avg Rent
- 0
Property Features
Project Type:
13 - 24 Units
Construction:
Wood Frame
Const - Finish:
Stucco
Roofing:
Composition
Floors:
Vinyl
Sale Includes:
Land & Building
Community Features:
Pool
Exterior Amenities:
Guard Gate
Appliances Included:
Free-Standing Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer
Heating:
Other; See Remarks
Cooling:
Other; See Remarks
Water Source:
City Franchise
Sewer:
Sewer - Public
Electric:
Other (See Remarks)
Gas:
Other (See Remarks)
Parking Features:
>1 Space Per Unit
Road Surface Type:
Asphalt
Owner Pays:
Water; Trash Collection; Other; See Remarks
Tenant Pays:
Electricity
Source of Fincl Data:
Owner
Showing Notification Methods:
Email
Lockbox Type:
None
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:
Other (See Remarks)
New Financing:
Conventional; Other (See Remarks)
Environmental:
None
Listing Office:
ABI Multifamily
Last Updated: August - 23 - 2023
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