813 E MARLETTE Avenue, Phoenix, AZ 85014 (MLS# 6170432)

813 E MARLETTE Avenue, Phoenix, AZ 85014

$3,562,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $3,562,000 Last Modified: 4/21/2021

Overview

Description

Venture on Marlette consists of 14 units, (13) of which are two-bed/ two-bath units along with (1) one-bed/one-bath unit. The property has been completely remodeled from top-to-bottom with nothing left untouched. Full interior renovations have been done with popular, cutting-edge finishes. All units are spacious for this era of building and each include an in-suite washer and dryer. Several of the units have large outdoor backyards. The property has a new roof, windows, doors, and new paint inside and out. Full exterior upgrades include professionally installed landscaping and more. The property surrounds an inviting courtyard with beautiful outdoor amenity space. Each unit is individually metered for electricity. Additionally, the property went through lease-up while under cons

Supplements: so many rents are below market and could be raised as leases expire. Not to mention, with housing prices skyrocketing, rent growth should continue increasing while those who cannot afford to purchase look to rent. There are not a lot of properties that come available that are this attractive and well located. This is a phenomenal bite-sized opportu ...

Listing Details MLS# 6170432

Location, Tax & Legal

Map Code/Grid
N34
House Number
813
Compass
E
Street Name
MARLETTE
St Suffix
Avenue
City/Town Code
Phoenix
State/Province
AZ
Zip Code
85014
Zip4
1507
Country
US
County Code
Maricopa
Subdivision
ORANGE HEIGHTS LOTS 44, 45 & TR A
Assessor Number
161-15-035-F
Tax Year
2020

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
146x122
Year Built
1962
Total # of Units
14
# of Buildings
Yes
Zoning
R4
Elementary School District
Madison Elementary District
High School District
Phoenix Union High School District

Remarks Misc

Cross Street
7th Street & Bethany Home Rd
Directions
North on 7th Street, East on Marlette to property on South side of street.

Status Change Info

Off Market Date
2021-04-17
Under Contract Date
2021-02-12
Close of Escrow Date
2021-04-20

Legal Info

Township
2N
Range
3E
Section
9
Lot Number
37

More Information

1 Bedroom Units

# 1 Bedroom Units
Yes
Avg Rent
1250
Avg SqFt
550
# Baths
Yes

2 Bedroom Units

# 2 Bedroom Units
13
Avg Rent
1340
Avg SqFt
929
# Baths
2

Income Expenses

Gross Annual Sch Inc
245700
Net Operating Income
192104

Sold Info

Loan Type
Conventional
Payment Type
Other
Closing Cost Split
Normal - N
Buyer Concession $/%
%
Seller Concession $/%
%

Property Features

Project Type: 13 - 24 Units Construction: Block; Other Const - Finish: Painted; Other (See Remarks) Roofing: Other Floors: Other Sale Includes: Land & Building Community Features: Other; See Remarks Appliances Included: Other Cooling: Electric Water Source: Master Meter; Other Sewer: Sewer - Public Electric: Individual Meter Gas: Other (See Remarks) Parking Features: Other Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity Source of Fincl Data: Projected Proforma Special: Owner/Agent Showing Notification Methods: Text; Email; Phone Call Lockbox Type: None New Financing: Conventional; 1031 Exchange Environmental: None
IDX
Listing Office: ABI Multifamily
Last Updated: April - 21 - 2021
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