5624 N 6TH Street, Phoenix, AZ 85012 (MLS# 6042037)

5624 N 6TH Street, Phoenix, AZ 85012

$3,775,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $3,775,000 Last Modified: 2/16/2025

Overview

Description

5624-5646 N 6th St Renovated in 2020, The Madison boasts mid-century art deco style architecture modernized to fit the young professional tenant base the property now attracts. Given its location in the sought after Uptown Central Phoenix Corridor, its walking distance from some of Phoenix's hottest new restaurants, cafes and social spots and detailed scope of remodel, which includes almost $700,000 in total Capital Improvement costs, The Madison provides a remarkable opportunity for immediate value along with considerable future upside potential. Built in 1952 of block construction, pitched roofs, art deco windows and front and rear entryways, The Madison is a prime example of Phoenix historical architecture and charm reinvigorated to match today's market of multifamily.

Listing Details MLS# 6042037

Location, Tax & Legal

Map Code/Grid: N34
House Number: 5624
Compass: N
Street Name: 6TH
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85012
Zip4: 1300
Country: US
County Code: Maricopa
Subdivision: CAMEL SQUARE
Assessor Number: 162-35-021
Tax Year: 2019

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 58,800
Year Built: 1949
Uncvrd Parking Spcs: 20
Total # of Units: 18
# of Buildings: 6
Zoning: R-3
Elementary School District: Madison Elementary District
High School District: Phoenix Union High School District
Elementary School: Madison Elementary School
Jr. High School: Madison Meadows School
High School: Central High School

Remarks Misc

Cross Street: 7th St. & Bethany Home
Directions: South to Montebello. West to 6th St. South to property

Status Change Info

Off Market Date: 2021-05-08
Under Contract Date: 2021-02-22
Close of Escrow Date: 2021-04-15

Legal Info

Township: 2N
Range: 3E
Section: 17
Lot Number: 22

More Information

1 Bedroom Units

# 1 Bedroom Units: 11
Avg Rent: 1295
Avg SqFt: 628
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: 6
Avg Rent: 1495
Avg SqFt: 900
# Baths: Yes

3 Bedrooms Units

# 3 Bedroom Units: Yes
Avg Rent: 1595
Avg SqFt: 950
# Baths: 2

Income Expenses

Net Operating Income: 240759

Sold Info

Loan Type: Conventional
Loan Years: 15
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $

Property Features

Project Type: 13 - 24 Units Construction: Block Const - Finish: Painted Roofing: Composition Floors: Vinyl; Wood Sale Includes: Land & Building Payment Includes: Principal Community Features: No Pool Exterior Amenities: Landscape Water System; Green Landscaping; Separate Storage Interior Features: Unfurnished Appliances Included: Built-In Range; Microwave Heating: Natural Gas Cooling: Individual Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: SW Gas Parking Features: Carport; <1 Space Per Unit; Paved Road Surface Type: Asphalt Owner Pays: Water; Trash Collection Tenant Pays: Water; Sewer; Trash Collection Source of Fincl Data: Owner Showing Notification Methods: Text; Email; Phone Call Existing 1st Loan: Conventional 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: Conventional; 1031 Exchange; Other (See Remarks) Environmental: None

Listing Office: Taylor Street Realty Services

Last Updated: February - 16 - 2025

5624 N 6TH Street, Phoenix, AZ 85012 (MLS# 6042037)