4029 W MCDOWELL Road, Phoenix, AZ 85009 - MLS #5688046

images$3,450,000 images******** Beds

images******** Bath images1968

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Description

Casa West is a 32-unit garden-style apartment community located in a desirable west Phoenix neighborhood that was completely rebuilt and repositioned in 2016 with premium finishes. The property is made of block construction with pitched composition shingle roofs and is individually-metered for electricity. The unit mix is composed of 97% two-bedroom/one-bath floor plans that are spacious, very well designed and average nearly 800 square feet. Casa West offers an investor the rare opportunity to acquire an extensively renovated asset located in a desirable Phoenix location priced below replacement cost.

Property Features
Project Type: 25 - 50 Units
Construction: Block
Const - Finish: Painted
Roofing: Composition
Floors: Ceramic Tile
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Landscape Water System; Desert Landscaping
Interior Features: Unfurnished
Appliances Included: Built-In Range; Refrigerator; Microwave; Washer/Dryer
Heating: Individual
Cooling: Electric; Individual
Water Source: City Franchise
Sewer: Sewer - Public
Electric: Individual Meter
Gas: SW Gas
Parking Features: <1 Space Per Unit; 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: Treat as Free&Clear
Existing 2nd Loan Type: Not Applicable
Existing 2nd Loan Terms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Loan Type: Not Applicable
Existing 3rd Loan Terms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional
Environmental: None
Contract Info
Current Price: $3,450,000
Sold Price: $3,450,000
Status: Closed
List Date: 2017-11-15
Ownership: Fee Simple
Location Tax Legal
Map Code/Grid: P33
House Number: 4029
Compass: W
Street Name: MCDOWELL
St Suffix: Road
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85009
County Code: Maricopa
Subdivision: WINONA PARK 5
Assessor Number: 106-30-129
Tax Year: 2017
General Property Description
Lot Size Dimensions: 202' x 165'
Year Built: 1968
Uncvrd Parking Spcs: 30
Total # of Units: 32
# of Buildings: 2
Zoning: R-5
Elementary School District: Isaac Elementary District
High School District: Phoenix Union High School District
Remarks Misc
Cross Street: 41st Avenue and McDowell Road
Geo Lat: 33.4656
Geo Lon: -112.146825
Status Change Info
Off Market Date: 2018-01-16
Under Contract Date: 2017-12-11
Close of Escrow Date: 2018-02-01
Sold Price: $3,450,000
Legal Info
Township: 1N
Range: 2E
Section: 3
Lot Number: 625
Income Expenses
Gross Annual Sch Inc: 359520
Net Operating Income: 252299
1 Bedroom Units
# 1 Bedroom Units: 1
Avg Rent: 820
Avg SqFt: 619
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 31
Avg Rent: 940
Avg SqFt: 780
# Baths: 1
Contact Info
List Agent Home Phn: 602-735-5634
Sold Info
Loan Type: Conventional
Loan Years: 30
Payment Type: Fixed
Closing Cost Split: Seller Paid - S
Buyer Concession $/%: %
Seller Concession $/%: %