813 E MARLETTE Avenue, Phoenix, AZ 85014
$3,562,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$3,562,000
Last Modified:
4/21/2021
Overview
Description
Venture on Marlette consists of 14 units, (13) of which are two-bed/
two-bath units along with (1) one-bed/one-bath unit. The property
has been completely remodeled from top-to-bottom with nothing left
untouched. Full interior renovations have been done with popular,
cutting-edge finishes. All units are spacious for this era of building
and each include an in-suite washer and dryer. Several of the units
have large outdoor backyards. The property has a new roof, windows,
doors, and new paint inside and out. Full exterior upgrades include
professionally installed landscaping and more. The property surrounds
an inviting courtyard with beautiful outdoor amenity space. Each unit
is individually metered for electricity. Additionally, the property went
through lease-up while under cons
Supplements: ... (Read more)
Listing Details MLS# 6170432
Location, Tax & Legal
- Map Code/Grid
- N34
- House Number
- 813
- Compass
- E
- Street Name
- MARLETTE
- St Suffix
- Avenue
- City/Town Code
- Phoenix
- State/Province
- AZ
- Zip Code
- 85014
- Zip4
- 1507
- County Code
- Maricopa
- Subdivision
- ORANGE HEIGHTS LOTS 44, 45 & TR A
- Assessor Number
- 161-15-035-F
- Tax Year
- 2020
- Assessor's Map #
- 15
- Legal Description (Abbrev)
- ORANGE HEIGHTS N2 N2 LOT 37 EX W 488' EX N 25' & S 8'
- Assessor's Parcel #
- 35
- Assessor Parcel Ltr
- F
- Add'l Parcels
- No
- Tax Municipality
- Phoenix
- Census Tract
- 106501
- Taxes
- 8534
- Legal
- ORANGE HEIGHTS N2 N2 LOT 37 EX W 488' EX N 25' & S 8'
- Marketing Name
- Venture on Marlette
Contract Info
- Ownership
- Fee Simple
General Property Description
- Lot Size Dimensions
- 146x122
- Year Built
- 1962
- Total # of Units
- 14
- # of Buildings
- Yes
- Zoning
- R4
- Elementary School District
- Madison Elementary District
- High School District
- Phoenix Union High School District
- Uncvrd Parking Spcs
- 0
Remarks Misc
- Cross Street
- 7th Street & Bethany Home Rd
- Directions
- North on 7th Street, East on Marlette to property on South side of street.
Status Change Info
- Off Market Date
- 2021-04-17
- Under Contract Date
- 2021-02-12
- Close of Escrow Date
- 2021-04-20
Legal Info
- Township
- 2N
- Range
- 3E
- Section
- 9
- Lot Number
- 37
More Information
Income Expenses
- Gross Annual Sch Inc
- 245700
- Net Operating Income
- 192104
1 Bedroom Units
- # 1 Bedroom Units
- Yes
- Avg Rent
- 1250
- Avg SqFt
- 550
- # Baths
- Yes
2 Bedroom Units
- # 2 Bedroom Units
- 13
- Avg Rent
- 1340
- Avg SqFt
- 929
- # Baths
- 2
Sold Info
- Loan Type
- Conventional
- Payment Type
- Other
- 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
- Block
- Yes
- Other
- Yes
Const - Finish
- Painted
- Yes
- Other (See Remarks)
- Yes
Roofing
- Other
- Yes
Floors
- Other
- Yes
Sale Includes
- Land & Building
- Yes
Income & Expenses
- Owner Association
- No
- Annual Ownr Asoc Fee
- 0
- Operating Exp
- 8534
- Other Income
- 8660
- Vacancy Allowance
- 0.04
- Adjusted Gross Inc
- 244185.6
Pmt & Rate Info
- Cap Rate
- 5.12
- Equity
- 3750000
- Down Payment %
- 0
- Monthly Payments
- 0
- Total Owed
- 0
Showing Notification Methods
- Text
- Yes
- Yes
- Phone Call
- Yes
Lockbox Type
- None
- Yes
Community Features
- Other
- Yes
- See Remarks
- Yes
Heating
- Electric
- Yes
Cooling
- Electric
- Yes
Tenant Pays
- Electricity
- Yes
Appliances Included
- Other
- Yes
Road Surface Type
- Asphalt
- Yes
Source of Fincl Data
- Projected Proforma
- Yes
Water Source
- Master Meter
- Yes
- Other
- Yes
Sewer
- Sewer - Public
- Yes
Parking Features
- Other
- Yes
Electric
- Individual Meter
- Yes
Gas
- Other (See Remarks)
- Yes
Owner Pays
- Water
- Yes
- Sewer
- Yes
- Trash Collection
- Yes
- Landscaping
- Yes
New Financing
- Conventional
- Yes
- 1031 Exchange
- Yes
Special
- Owner/Agent
- Yes
Reports/Disclosures
- Other (See Remarks)
- Yes
Environmental
- None
- 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:
Block; Other
Const - Finish:
Painted; Other (See Remarks)
Roofing:
Other
Floors:
Other
Sale Includes:
Land & Building
Community Features:
Other; See Remarks
Appliances Included:
Other
Cooling:
Electric
Water Source:
Master Meter; Other
Sewer:
Sewer - Public
Electric:
Individual Meter
Gas:
Other (See Remarks)
Parking Features:
Other
Road Surface Type:
Asphalt
Owner Pays:
Water; Trash Collection; Landscaping
Tenant Pays:
Electricity
Source of Fincl Data:
Projected Proforma
Special:
Owner/Agent
Showing Notification Methods:
Text; Email; Phone Call
Lockbox Type:
None
New Financing:
Conventional; 1031 Exchange
Environmental:
None
Listing Office:
ABI Multifamily
Last Updated: April - 21 - 2021
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