12440 N 113TH Avenue, Youngtown, AZ 85363
$8,400,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $8,400,000 Last Modified: 3/13/2025
Overview
Description
This is a top-quality, low-risk asset, situated in a very strong rental submarket - and it also has significant upside potential. RENTS ARE WAY BELOW MARKET. Property is located in Youngtown, adjacent to the retirement haven of Sun City. As a result, Sun Valley tends to cater to an older, stable resident profile, which has allowed the property to develop a long history of consistently high occupancy, with very low tenant turnover.
The exterior of property is in excellent condition. However, the apartment interiors are still quite basic, especially the ones that have had long-term tenants living there - but that creates an enormous opportunity for the Buyer.
Note: a total of 59 of the 71 units are currently on month-to-month leases, so rents can potentially be moved up very quickly.
Listing Details MLS# 6203064
Location, Tax & Legal
- Map Code/Grid
- L30
- House Number
- 12440
- Compass
- N
- Street Name
- 113TH
- St Suffix
- Avenue
- City/Town Code
- Youngtown
- State/Province
- AZ
- Zip Code
- 85363
- Zip4
- 1130
- County Code
- Maricopa
- Assessor Number
- 200-85-003-V
- Tax Year
- 2020
- Assessor's Map #
- 85
- Legal Description (Abbrev)
- COM INTERSEC C/L TENNESSEE AVE & 113TH AVE S 385.16F TPOB S 108.37F SWLY ALG CUR TO R 96.86F S 88
- Assessor's Parcel #
- 3
- Assessor Parcel Ltr
- V
- Add'l Parcels
- No
- Tax Municipality
- Youngtown
- Census Tract
- 71600
- Taxes
- 18406
- Legal
- COM INTERSEC C/L TENNESSEE AVE & 113TH AVE S 385.16F TPOB S 108.37F SWLY ALG CUR TO R 96.86F S 88
- Marketing Name
- Sun Valley Apartments
Contract Info
- Ownership
- Fee Simple
General Property Description
- Lot Size Dimensions
- 3.16 acres
- Year Built
- 1983
- Uncvrd Parking Spcs
- 20
- Total # of Units
- 71
- # of Buildings
- 8
- Zoning
- C-1
- Elementary School District
- Peoria Unified School District
- High School District
- Peoria Unified School District
Remarks Misc
- Cross Street
- 113th Avenue & W. Rhode Island
- Directions
- South of Grand Avenue on 113th Avenue for 1/2 mile
Status Change Info
- Off Market Date
- 2021-05-01
- Under Contract Date
- 2021-03-26
- Close of Escrow Date
- 2021-05-30
Legal Info
- Township
- 3N
- Range
- 1E
- Section
- 18
- Lot Number
- 20085003V
More Information
Income Expenses
- Gross Annual Sch Inc
- 623520
- Net Operating Income
- 400659
1 Bedroom Units
- # 1 Bedroom Units
- 69
- Avg Rent
- 700
- Avg SqFt
- 615
- # Baths
- Yes
2 Bedroom Units
- # 2 Bedroom Units
- Yes
- Avg Rent
- 900
- Avg SqFt
- 900
- # Baths
- 2
3 Bedrooms Units
- # 3 Bedroom Units
- Yes
- Avg Rent
- 1195
- Avg SqFt
- 1260
- # Baths
- 2
Sold Info
- Loan Type
- Cash
- Payment Type
- Other
- 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
- Brick Veneer
- Yes
Roofing
- Composition
- Yes
- Built-Up
- Yes
Floors
- Concrete
- Yes
Sale Includes
- Land & Building
- Yes
Income & Expenses
- Owner Association
- No
- Annual Ownr Asoc Fee
- 0
- Operating Exp
- 18406
- Other Income
- 5000
- Vacancy Allowance
- 0.03
- Adjusted Gross Inc
- 609664.4
Pmt & Rate Info
- Cap Rate
- 4.8
- Equity
- 8342500
- Down Payment %
- 35
- Monthly Payments
- 24248
- Total Owed
- 0
Showing Notification Methods
- Phone Call
- Yes
Lockbox Type
- None
- Yes
Community Features
- Pool
- Yes
- Manager Res/Office
- Yes
- Game/Rec Room
- Yes
- Barbecue
- Yes
Heating
- Heat Pump
- Yes
- Electric
- Yes
- Individual
- Yes
Cooling
- Electric
- Yes
- Individual
- Yes
Exterior Amenities
- Fenced
- Yes
- Curb(s) & Gutter(s)
- Yes
- Patio/Balcony
- Yes
Interior Features
- Unfurnished
- Yes
- Vertical Blinds
- Yes
Tenant Pays
- Electricity
- Yes
Appliances Included
- Disposal
- Yes
- Refrigerator
- Yes
- Free-Standing Range
- Yes
Road Surface Type
- Asphalt
- Yes
Source of Fincl Data
- Projected Proforma
- Yes
Water Source
- City Franchise
- Yes
Sewer
- Sewer - Public
- Yes
Parking Features
- Carport
- Yes
- 1 Space/Unit
- Yes
- Paved
- Yes
Electric
- APS
- Yes
- Individual Meter
- Yes
Gas
- SW Gas
- Yes
Owner Pays
- Water
- Yes
- Sewer
- Yes
- Gas
- Yes
- Trash Collection
- Yes
- Landscaping
- Yes
- Pool Maintenance
- Yes
New Financing
- Other (See Remarks)
- Yes
Reports/Disclosures
- Seller Prop Disc Stm
- Yes
Environmental
- None
- Yes
Efficiency Units
- Avg Rent
- 0
4 Bedrooms Units
- Avg Rent
- 0
Property Features
Project Type: 51 - 99 Units Construction: Block Const - Finish: Brick Veneer Roofing: Composition; Built-Up Floors: Concrete Sale Includes: Land & Building Community Features: Pool; Manager Res/Office; Game/Rec Room; Barbecue Exterior Amenities: Fenced; Curb(s) & Gutter(s); Patio/Balcony Interior Features: Unfurnished; Vertical Blinds Appliances Included: Free-Standing Range; Refrigerator; Disposal Heating: Individual; Heat Pump Cooling: Electric; Individual Water Source: City Franchise Sewer: Sewer - Public Electric: APS; Individual Meter Gas: SW Gas Parking Features: Carport; 1 Space/Unit; Paved Road Surface Type: Asphalt Owner Pays: Water; Gas; Trash Collection; Landscaping; Pool Maintenance Tenant Pays: Electricity Source of Fincl Data: Projected Proforma Showing Notification Methods: Phone Call Lockbox Type: None New Financing: Other (See Remarks) Environmental: None
Listing Office: Keller Williams Arizona Realty
Last Updated: March - 13 - 2025
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