Price Reduction
Address
1850 N 51ST Street, Phoenix, AZ
Price
$ 4,640,000
Property Attributes
  • MLS#6676182
  • TypeMulti-Family
  • CountyMARICOPA
  • CityPhoenix
  • Zip85008
  • StyleMultiple Dwellings
  • Year Built2023
  • Taxes$ 4016
  • Price$ 4,640,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
Data Source:
Arizona Regional MLS (ARMLSN)
Property Description

This is a rare opportunity to own newly constructed 2023 townhomes in a convenient lower Arcadia location where maximizing NOI was clearly well thought out, designed to be low maintenance and efficient to maximize income stream. All units individually metered for electric and no other onsite electric. Desert landscape is low maintenance and cost efficient. All 10 units are 3 BR/2 ½ BA with either 1552 or 1776 sqft., with 1 or 2 car garages. The units are desirable, making them easily rentable for consistent cash flow. They have open floor plans, high end finishes, large kitchens, quartz countertops, stainless appliances, huge master bedrooms/baths, balconies, upgraded wood tile throughout, backyard patios, two and one car garages. Close to 143/202, Old Town, Sky Harbor, Entertainment.

Elementary School Middle School High School
Griffith Elementary School Pat Tillman Middle School Camelback High School
Price History
3/12/2024 Listed $4,875,000
5/1/2024 3% - $4,750,000
5/15/2024 3% - $4,640,000

General Features

Sewer Public Sewer
Heating Electric
Cooling Central A/C,Electric
Roof Foam
Zoning R3
Construction Materials Brick Veneer,Painted,Stucco,Frame - Wood
Year Built 2023
Electric SRP,Individual Meter
Tenant Pays Electricity,Water,Sewer
Township 2N
Tax Year 2023
Percent Ownership Fee Simple
Gross Income 320126.8
OwnerPays Water,Sewer,Landscaping
Community Features Barbecue
County Maricopa
Net Operating Income 253654.0
Operating Expense 4016.0
Property Type Multiple Dwellings
Attached Garage Yes
Garage Y/N Yes
Status Active
Directions From 44th Street & McDowell Road,head east on McDowell Road to 51st Street. Go north on 51st Street. Property is on the west side of 51st Street approximately 1/4 mile north of McDowell.
High School Camelback High School
City Phoenix
Buyer Agent Compensation 2.00
Disclosures Seller Prop Disc Stm
View Y/N No
High School District Phoenix Union High School District
Open Parking Spaces 0.0
Total Units 10
Lot Size Square Feet 0.0
Carport Y/N No
Street Name 51ST
Elementary School Griffith Elementary School
Tax Annual Amount 4016.0
Middle/Junior High School Pat Tillman Middle School
Lease Renewal Y/N No
Additional Parcels Y/N No
Lease Considered Y/N No
Rent Control Y/N No
Days on Market 74
Standard Status Active
Occupancy Type Tenant
Elementary School District Balsz Elementary District
Tax Lot 1
Cap Rate 5.2
MobileHomeRemainsYN No
Buyer Agent Compensation Type %
New_sp_Financing_co_Conventional5 True
Ownership Fee Simple
Senior Community No

Interior Features

Flooring Carpet,Ceramic Tile
Air Conditioning Y/N Yes
Heating Y/N Yes
Street Suffix Street
Electric On Property Y/N No

Exterior Features

Parking Features Auto Door Opener,Attached
Water Source City Franchise
Total Parking 15.0
Lot Size Area 0.0
Number of Buildings 6
Spa No
Lot Dimensions 232.48 X 116.50
Lot Size Acres 0.0
Road Surface Type Asphalt,Private Street
Covered Spaces 15.0
Crops Included Y/N No
Open Parking Y/N No
Irrigation Water Rights Y/N No

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 85008

Price
AVG $1.48M
$4.64M
Taxes
AVG $2,047
$4,016
Visits
AVG 225
478
Data Provided by Inside Real Estate®
Year Built
AVG 1961
2023