Eco Friendly - Seller Financing
Address
3636 E VERDE Lane, Phoenix, AZ
Price
$ 2,495,000
Property Attributes
  • MLS#6591677
  • TypeMulti-Family
  • CountyMARICOPA
  • CityPhoenix
  • NeighborhoodOAKSHIRE
  • Zip85018
  • StyleMultiple Dwellings
  • Year Built1955
  • Taxes$ 2622
  • Price$ 2,495,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
Data Source:
Arizona Regional MLS (ARMLSN)
Property Description

SELLER CARRYBACK! 3636 E Verde Phoenix is a charming and well-maintained 9-unit apartment building located in the sought-after neighborhood of Arcadia Lite in Phoenix, Arizona. This property offers a fantastic opportunity for both investors and tenants alike with its recent renovations and appealing amenities. One of the most significant updates to the property is the installation of new pipes, which ensures a reliable plumbing system for all the units. Additionally, a newer roof has been put in place, providing enhanced protection against the elements and reducing maintenance costs for the foreseeable future. The building's appeal is further enhanced by the inclusion of dual-pane windows in each unit. These windows not only improve energy efficiency but also minimize noise pollution, These windows not only improve energy efficiency but also minimize noise pollution, allowing tenants to enjoy a peaceful and comfortable living experience. Moreover, with the electric masts being raised, residents can benefit from a more reliable electrical supply, ensuring uninterrupted power to all units. The exterior of the property has not been overlooked in the renovations. New landscaping has been added, creating an inviting and visually appealing environment for the residents. Tenants can take advantage of well-maintained space to relax, socialize, or simply enjoy the outdoors. All nine units are currently fully occupied, indicating a strong demand for housing in this desirable location. This presents an excellent opportunity for the property owner to increase rental rates gradually, contributing to enhanced profitability and return on investment. For the convenience of the residents, the property boasts an on-site laundry room, making laundry chores a breeze. This amenity is highly valued by tenants, making it an attractive feature for prospective renters as well. Moreover, for additional income potential, the property offers a garage rental option. Tenants have the option to rent garages for extra storage space or to park their vehicles securely, providing an added incentive to choose this property as their home. Arcadia Lite is a popular neighborhood known for its unique blend of urban convenience and suburban charm. Residents of this area enjoy easy access to a variety of dining, shopping, and entertainment options, making it an enticing location for potential tenants. In conclusion, 3636 E Verde Phoenix is a well-maintained, fully occupied 9-unit apartment building with numerous attractive features, including new pipes, a newer roof, dual-pane windows, raised electric masts, new landscaping, on-site laundry facilities, and the option for garage rentals. Situated in the desirable Arcadia Lite neighborhood, this property offers excellent potential for rental income growth, making it an appealing investment opportunity in the Phoenix real estate market. Buyer to verify all facts and figures.

Price History
8/14/2023 Listed $3,495,000
10/6/2023 16% - $2,950,000
11/2/2023 4% - $2,850,000
12/10/2023 13% - $2,495,000

General Features

Sewer Sewer-In & Connected,Public Sewer
Roof Composition
Zoning M-M
Construction Materials Painted,Block,Frame - Wood
Year Built 1955
Electric APS,Individual Meter
Tenant Pays Electricity,Cable TV
Township 2N
Tax Year 2023
Percent Ownership Fee Simple
Gross Income 159991.8
OwnerPays Gas,Trash Collection,Water,Sewer,Landscaping
Community Features No Pool
County Maricopa
Net Operating Income 133661.0
Operating Expense 26630.0
Insurance Expense 3124.0
Property Type Multiple Dwellings
Attached Garage No
MaintenanceExpense 2700.0
Subdivision Name OAKSHIRE
Garage Y/N Yes
Status Active
Directions From 36th Street go east to 37th Street. Turn North to Verde. Property sits on the North East corner.
City Phoenix
Buyer Agent Compensation 3.00
Disclosures Other (See Remarks),Seller Prop Disc Stm,APOD/Backup Avaible,Sch of Personal Prop
View Y/N No
High School District Phoenix Union High School District
Open Parking Spaces 4.0
Total Units 9
Lot Size Square Feet 0.0
Carport Y/N No
Street Name VERDE
Tax Annual Amount 2622.0
Electric Expense 1092.0
Fuel Expense 425.0
Water Sewer Expense 2680.0
Lease Renewal Y/N No
Additional Parcels Y/N No
Lease Considered Y/N No
Rent Control Y/N No
Virtual Tour https://tours.arizonarealtours.com/2166218?idx=1
Days on Market 194
Standard Status Active
Occupancy Description Tenant
Elementary School District Creighton Elementary District
Tax Lot 8
Cap Rate 5.36
MobileHomeRemainsYN No
Buyer Agent Compensation Type %
New_sp_Financing_co_Conventional5 True
Ownership Fee Simple
Senior Community None

Interior Features

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

Exterior Features

Parking Features Free,Add'l Parking Avail,>1 Space Per Unit,Street Parking,Common
Water Source City Franchise,Master Meter
Total Parking 12.0
Lot Size Area 0.0
Number of Buildings 3
Spa No
Lot Dimensions irr
Lot Size Acres 0.0
Road Surface Type Asphalt,Curb(s) & Gutter(s),Sidewalk(s)
Covered Spaces 8.0
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 85018

Price
AVG $2.17M
$2.5M
Taxes
AVG $4,252
$2,622
Visits
AVG 211
528
Data Provided by Inside Real Estate®
Year Built
AVG 1972
1955
Walkscore
AVG 72
76
Data Provided by Walkscore® not using MLS data

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