1337 E Polk Street, Phoenix, AZ 85006 (MLS# 6327872)

1337 E Polk Street, Phoenix, AZ 85006

$4,275,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $4,275,000 Last Modified: 7/29/2024

Overview

Description

Polk Bungalows, a currently under construction, boutique 10-unit single family built to rent community situated on a one half acre parcel in Downtown Phoenix, Arizona. This one-of-a-kind property featuring tastefully designed, modern architecture by Aaron Bass of Stance Architecture is located in the rapidly gentrifying historic district of Garfield, minutes away from and 1 mile walking distance to both Downtown Phoenix and nationally recognized Roosevelt Row Arts District - contributing to a high rental demand and strong tenant base for this vibrant urban infill location.

Supplements: The property consists of a single freestanding 1,378 square foot historic house originally built in 1900 offering 2 bedrooms and 2 baths, and currently being rebuilt from the inside out with modern amenities and high end finishes, as well as 9 modern and sleek casita bungalows offering 1 bedroom 1.5 bath spacious floor plans with 884 square feet. P ... (Read more)

Listing Details MLS# 6327872

Location, Tax & Legal

Map Code/Grid: Q34
House Number: 1337
Compass: E
Street Name: Polk
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85006
Country: US
County Code: Maricopa
Assessor Number: 116-25-174
Tax Year: 2021

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 200' x 109'
Year Built: 2022
Uncvrd Parking Spcs: 4
Total # of Units: 10
# of Buildings: 10
Zoning: R-5, HP
Flood Zone: No
Elementary School District: Phoenix Elementary District
High School District: Phoenix Union High School District
Elementary School: Kenilworth Elementary School
Jr. High School: Whittier Elementary School - Phoenix
High School: Central High School

Remarks Misc

Cross Street: 16th St & Van Buren St.
Directions: Wast on Van Buren, North on 14th St, West on Polk. Property on South side.

Status Change Info

Off Market Date: 2022-02-25
Under Contract Date: 2022-02-16
Close of Escrow Date: 2022-03-31

Legal Info

Township: 1N
Range: 3E
Section: 4
Lot Number: 12

More Information

1 Bedroom Units

# 1 Bedroom Units: 9
Avg Rent: 1895
Avg SqFt: 885
# Baths: 15

2 Bedroom Units

# 2 Bedroom Units: Yes
Avg Rent: 3000
Avg SqFt: 1379
# Baths: 2

Income Expenses

Gross Annual Sch Inc: 240660
Net Operating Income: 190559

Contact Info

List Agent Home Phn: 602-793-2753

Sold Info

Loan Type: Conventional
Loan Years: 30
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $

Property Features

Project Type: 5 - 12 Units Construction: Block; Wood Frame Const - Finish: Painted; Stucco Roofing: Composition; Metal Floors: Concrete; Vinyl Sale Includes: Land & Building; Laundry Equipment Community Features: No Pool; Other Exterior Amenities: Landscape Water System; Desert Landscaping; Partially Fenced; Patio/Balcony Interior Features: Fire/Smoke Alarm(s); Fire Sprinklers Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer Heating: Individual Cooling: Electric; Heat Pump; Individual Water Source: City Franchise; Master Meter Sewer: Sewer - Public; Sewer-In & Connected Electric: APS Gas: None Parking Features: Carport; On Street; 1 Space/Unit; >1 Space Per Unit; Assigned Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Water; Sewer; Electricity; Trash Collection Source of Fincl Data: Projected Proforma Lockbox Type: None Existing 1st Loan: Treat as Free&Clear New Financing: Conventional; No Carry; 1031 Exchange; Other (See Remarks) Environmental: None

Listing Office: Urban Luxe Real Estate

Last Updated: July - 29 - 2024

1337 E Polk Street, Phoenix, AZ 85006 (MLS# 6327872)