4750 N 28th Street, Phoenix, AZ 85016 (MLS# 5643626)

4750 N 28th Street, Phoenix, AZ 85016

$4,000,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $4,000,000 Last Modified: 12/27/2024

Overview

Description

Tres Arcos is a 25-unit apartment community located in the heart of Phoenix. Nestled among historic neighborhoods and highly renovated properties, Tres Arcos is located one block from the Arizona Biltmore. Residents enjoy the close proximity to Biltmore Fashion Park and all the amenities within the Camelback Corridor. Tres Arcos is an extremely desirable location for residents and has consistently stayed fully occupied. Tres Arcos is a 1969 block-constructed property consisting of seven single-level buildings. It's vintage charm lends itself to the popular mid-century modern renovation trend that is in high demand by residents and investors alike. The property consists of all two-bedroom units with individual backyards and covered parking for each unit.

Supplements: Tres Arcos is individually metered for electricity and hot water and enjoys an onsite laundry facility and recently renovated swimming pool. Very few properties can provide the location and redevelopment potential that the community has to offer.

Listing Details MLS# 5643626

Location, Tax & Legal

Map Code/Grid: P35
House Number: 4750
Compass: N
Street Name: 28th
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85016
Country: US
County Code: Maricopa
Assessor Number: 163-18-083-F
Tax Year: 2016

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: unknown
Year Built: 1969
Uncvrd Parking Spcs: 12
Total # of Units: 25
# of Buildings: 7
Zoning: R-3
Elementary School District: Madison Elementary District
High School District: Phoenix Union High School District

Remarks Misc

Cross Street: 28th Street & Camelback Road
Directions: South on 28th Street to Property.

Status Change Info

Off Market Date: 2017-10-11
Under Contract Date: 2017-09-26
Close of Escrow Date: 2017-12-29

Legal Info

Lot Number: unknown

More Information

2 Bedroom Units

# 2 Bedroom Units: 25
Avg Rent: 1200
Avg SqFt: 803
# Baths: Yes

Income Expenses

Gross Annual Sch Inc: 360000
Net Operating Income: 214061

Sold Info

Loan Type: Conventional
Loan Years: 10
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $

Property Features

Project Type: 25 - 50 Units Construction: Block Const - Finish: Painted Roofing: Composition Floors: Vinyl; Ceramic Tile; Carpet Sale Includes: Land & Building; Pool Equipment; Laundry Equipment Community Features: Pool Appliances Included: Built-In Range; Refrigerator Cooling: Central Air Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: SW Gas Parking Features: Carport; Paved Road Surface Type: Asphalt Owner Pays: Water; Trash Collection Tenant Pays: Electricity Source of Fincl Data: Owner Existing 1st Loan: Treat as Free&Clear 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: Not Applicable New Financing: Other (See Remarks) Environmental: None

Listing Office: ABI Multifamily

Last Updated: December - 27 - 2024

4750 N 28th Street, Phoenix, AZ 85016 (MLS# 5643626)