$759,000
$764,900
0.8%For more information regarding the value of a property, please contact us for a free consultation.
SOLD DATE : 07/21/2025
Key Details
Sold Price $759,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Northern Lanai Unit 1
MLS Listing ID 6848265
Sold Date 07/21/25
Maintenance Fees $1,300
Year Built 1974
Annual Tax Amount $2,197
Tax Year 2024
Lot Dimensions 82.86x110.18x60.09x15.89x191.88
Source Arizona Regional Multiple Listing Service (ARMLS)
Property Description
FANTASTIC 4-PLEX INVESTMENT OPPORTUNITY~ALL UNITS UPDATED~ALL HVAC's have been REPLACED in 2014 & 2025~ALL newer DUAL-PANED-WINDOWS~Building-exterior was FULLY-PAINTED in 2024 & hot-waters-heaters replaced in 2023~Property is FULLY-OCCUPIED as of list-date & some units w/LONG-TERM Tenants~2024 Q4 CAP RATE was over 6%~Building has been PROFESSIONALLY MANAGED for years~HOA is of value here at ONLY $130 per month & includes regular-yard-maintenance~EXCLUSIVE to this building is COIN-OPERATED, LAUNDRY-ROOM, which brings in monthly-other-income~OWNER through PM took PRIDE in the property w/VALUE-ADD, POTENTIAL for increased CASH-FLOW by taking advantage of this UNTAPPED, potential through improvements, monthly income could SURPASS $6k~ Front-facing, ground-floor unit is 3 bd/2 bath w/wood-look, vinyl-plank & tile flooring, wood-burning fireplace in living-room, open kitchen w/adjoining, formal dining or flex-space, slider-door leads to private, fenced, yard-area~Side-yard-facing, ground-floor unit is 2 bd/1 bath w/similar finishes & private, fenced, yard-area~Unit 3 is second-floor and is also, 2 bd/1 bath, similar finishes w/private-rear balcony & shared front-balcony~Unit 4 is second-floor and is also, 2 bd/1 bath w/similar-finishes~ALL units have storage-locker-cabinets in communal, shared, 4-car-garage & ea. unit has one-space in garage, plus there are two-additional, open-parking-spaces assigned to this building~On-site, coin-operated laundry room, provides Owner w/additional monthly-other-income~
Location
State AZ
County Maricopa
Community Northern Lanai Unit 1
Zoning R-5
Direction North on 33rd Ave., to Harmont, West to 33rd Dr., property on West side
Interior
Heating Individual, Heat Pump, Electric
Cooling Electric, Individual
Flooring Ceramic Tile, Vinyl
Appliance Built-In Range, Disposal, Dishwasher, Refrigerator, Microwave
Exterior
Parking Features Paved, Assigned, Add'l Parking Avail, Garage Door Opener, 1 Space/Unit, On Street
Community Features No Pool
Roof Type Composition
Garage Yes
Building
Sewer Public Sewer
Water City Franchise
New Construction No
Schools
Elementary Schools Washington Elementary School
Middle Schools Palo Verde Middle School
High Schools Glendale High School
School District Glendale Union High School District
Others
Senior Community No
Tax ID 150-09-898
Acceptable Financing Conventional, 1031 Exchange
Listing Terms Conventional, 1031 Exchange
Financing Conventional
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