Eco Friendly
Address
3636 E VERDE Lane, Phoenix, AZ
Price
$ 3,495,000
Property Attributes
- MLS#6591677
- TypeMulti-Family
- CountyMARICOPA
- CityPhoenix
- NeighborhoodOAKSHIRE
- Zip85018
- StyleMultiple Dwellings
- Year Built1955
- Taxes$ 2622
- Price$ 3,495,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
Data Source:
Arizona Regional MLS (ARMLSN)
Property Description
3636 E Verde Phoenix is a charming and well-maintained 9-unit apartment building located in the sought-after neighborhood of Arcadia Lite in Phoenix, Arizona. This property offers a fantastic opportunity for both investors and tenants alike with its recent renovations and appealing amenities. One of the most significant updates to the property is the installation of new pipes, which ensures a reliable plumbing system for all the units. Additionally, a newer roof has been put in place, providing enhanced protection against the elements and reducing maintenance costs for the foreseeable future. The building's appeal is further enhanced by the inclusion of dual-pane windows in each unit. These windows not only improve energy efficiency but also minimize noise pollution, These windows not only improve energy efficiency but also minimize noise pollution, allowing tenants to enjoy a peaceful and comfortable living experience. Moreover, with the electric masts being raised, residents can benefit from a more reliable electrical supply, ensuring uninterrupted power to all units. The exterior of the property has not been overlooked in the renovations. New landscaping has been added, creating an inviting and visually appealing environment for the residents. Tenants can take advantage of well-maintained space to relax, socialize, or simply enjoy the outdoors. All nine units are currently fully occupied, indicating a strong demand for housing in this desirable location. This presents an excellent opportunity for the property owner to increase rental rates gradually, contributing to enhanced profitability and return on investment. For the convenience of the residents, the property boasts an on-site laundry room, making laundry chores a breeze. This amenity is highly valued by tenants, making it an attractive feature for prospective renters as well. Moreover, for additional income potential, the property offers a garage rental option. Tenants have the option to rent garages for extra storage space or to park their vehicles securely, providing an added incentive to choose this property as their home. Arcadia Lite is a popular neighborhood known for its unique blend of urban convenience and suburban charm. Residents of this area enjoy easy access to a variety of dining, shopping, and entertainment options, making it an enticing location for potential tenants. In conclusion, 3636 E Verde Phoenix is a well-maintained, fully occupied 9-unit apartment building with numerous attractive features, including new pipes, a newer roof, dual-pane windows, raised electric masts, new landscaping, on-site laundry facilities, and the option for garage rentals. Situated in the desirable Arcadia Lite neighborhood, this property offers excellent potential for rental income growth, making it an appealing investment opportunity in the Phoenix real estate market. Buyer to verify all facts and figures.
| Price History | |
|---|---|
| 8/14/2023 | Listed $3,495,000 |
General Features
| Additional Parcels Y/N | No |
|---|---|
| Attached Garage | No |
| Cap Rate | 3.82 |
| Carport Y/N | No |
| City | Phoenix |
| Community Features | No Pool |
| Construction Materials | Painted, Block, Frame - Wood |
| Cooling | Heat Pump, Ceiling Fan(s) |
| County | Maricopa |
| Days on Market | 35 |
| Disclosures | Seller Prop Disc Stm, Sch of Personal Prop |
| Electric | Individual Meter |
| Electric Expense | 1092.0 |
| Elementary School District | Creighton Elementary District |
| Fuel Expense | 425.0 |
| Garage Y/N | Yes |
| Gross Income | 159991.8 |
| Heating | Individual, Heat Pump |
| High School District | Phoenix Union High School District |
| Insurance Expense | 3124.0 |
| Lease Considered Y/N | No |
| Lease Renewal Y/N | No |
| Lot Size Square Feet | 0.0 |
| Maintenanceexpense | 2700.0 |
| Mobilehomeremainsyn | No |
| Net Operating Income | 133661.0 |
| New_sp_Financing_co_Conventional5 | True |
| Open Parking Spaces | 4.0 |
| Operating Expense | 26630.0 |
| Ownerpays | Gas, Trash Collection, Water, Sewer, Landscaping |
| Ownership | Fee Simple |
| Property Type | Multiple Dwellings |
| Rent Control Y/N | No |
| Roof | Composition |
| Sewer | Public Sewer |
| Standard Status | Active |
| Status | Active |
| Street Name | VERDE |
| Subdivision Name | OAKSHIRE |
| Tax Annual Amount | 2622.0 |
| Tax Lot | 8 |
| Tax Year | 2022 |
| Tenant Pays | Electricity |
| Total Units | 9 |
| Township | 2N |
| View Y/N | No |
| Virtual Tour | https://tours.arizonarealtours.com/2166218?idx=1 |
| Water Sewer Expense | 2680.0 |
| Year Built | 1955 |
| Zoning | M-M |
Interior Features
| Air Conditioning Y/N | Yes |
|---|---|
| Electric On Property Y/N | No |
| Heating Y/N | Yes |
| Street Suffix | Lane |
Exterior Features
| Buyer Agent Compensation | 3.00 |
|---|---|
| Buyer Agent Compensation Type | % |
| Covered Spaces | 8.0 |
| Crops Included Y/N | No |
| Irrigation Water Rights Y/N | No |
| Lot Dimensions | irr |
| Lot Size Acres | 0.0 |
| Lot Size Area | 0.0 |
| Number of Buildings | 3 |
| Open Parking Y/N | No |
| Parking Features | Free, Add'l Parking Avail, >1 Space Per Unit, Common |
| Road Surface Type | Asphalt, Curb(s) & Gutter(s), Sidewalk(s) |
| Spa | No |
| Total Parking | 12.0 |
| Water Source | City Franchise |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 85018
Price
Taxes
Visits
Year Built
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