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6041 N 23RD Avenue

Phoenix, AZ 85015
  • $3,850,000
  • STATUS: Active
  • ON SITE: 38 Days
  • MLS #: 6401928
UPDATED: 101 min ago
$3,850,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1963
County:
Area:

School Ratings & Info

Description

NOTE - Includes 6027, 6033, 6037 & 6041 N 23rd Ave. 23 Palms is a 14-unit apartment property located in the heart of Phoenix, AZ.The property comprises of 2 fourplexes and 2 triplexes with each building builton separate parcels. This allows for individual residential loans if ever desired.The property features large units with an attractive unit mix of (4) 1-bed /1-bath (approx. 720 SF each), (8) 2-bed / 1-bath (approx. 920 SF each), and(2) 3-bed / 2-bath (approx. 1,270 SF each). The property is also located inthe opportunity zone, which will provide more positive activity to the area overthe next few years.The property is approximately one-third of a mile from the Abrazo Central Campus hospital, a little over a half-mile from the Metro Valley Light Rail and Christown Spectrum Mall (Target, Walmart, Harkins Theatres, etc.), and about a one-and-half mile distance from Grand Canyon University. The location is extremely central and allows residents to enjoy, with ease, so much of what Central Phoenix has to offer. With many dining, shopping, and entertainment options, as well as the I-17 Freeway within minutes (approx. a one-quartermile away), 23 Palms is an attractive investment opportunity and an extremely desirable property for residents. 23 Palms is a mid-century, block-constructed project with a great unit mix of large 3-bed, 2-bed, and 1-bed units. The units feel very secure with the buildings on the property surrounding quaint, quiet, center courtyards which provide tenants an open space to play, gather, walk-dogs etc. It's a rare but very welcome amenity the tenants can enjoy. Four of the units have been highly renovated and include new sewer mains, electrical sub-panels, in-suite washers / dryers, white shaker cabinets, stainless steel appliances with a dishwasher, modern gray plank tile flooring, bathroom vanities and tile shower surrounds, baseboards, two-tone paint, doors, ceiling fans, light fixtures, and more. There was a lot of attention to detail and the units turned out very nicely. There are also five additional units that have undergone a light renovation that includes two-tone paint, exterior doors, blinds, fans, and bathroom and light fixtures, new dishwashers, microwaves, carpet and more. The five classic units have been very well-maintained over the years. The exterior of 23 Palms has been very well maintained and updated as well. Recent upgrades include new xeriscape landscaping, new irrigation systems and plants, new paint, new signage and address numbers, renovated laundry rooms and storage areas, and new asphalt parking in the rear of the property. Additionally, new electrical service panels have been/are being installed where recommended (2 of the 4 buildings). Value-add opportunities exist through additional updating and increasing rents. This property sits on four separate parcels allowing for an investor to get four separate 30-year fixedrate residential loans if they want. This is a great, centrally located, bite-sized deal that has historically maintained very low vacancy and should continue to perform well into the future.

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Arizona Regional MLS logo© 2022 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. The ARMLS logo indicates a property listed by a real estate brokerage other than Yost Realty Group at RE/MAX Casa Grande. Data last updated 2022-06-26T00:15:21.213.
www.yosthomes.com/homes/128865722
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6041 N 23RD Avenue Phoenix, AZ 85015

  • Price: $3,850,000
  • Status: Active
  • On Site: 38 Days
  • Updated: 101 min ago
  • MLS #: 6401928
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1963
Built
Neighborhood:
Melrose Valley Estates 1
County:
Maricopa
Area:
Phoenix
School District:
006 - Washington Elementary District
Property Description
NOTE - Includes 6027, 6033, 6037 & 6041 N 23rd Ave. 23 Palms is a 14-unit apartment property located in the heart of Phoenix, AZ.The property comprises of 2 fourplexes and 2 triplexes with each building builton separate parcels. This allows for individual residential loans if ever desired.The property features large units with an attractive unit mix of (4) 1-bed /1-bath (approx. 720 SF each), (8) 2-bed / 1-bath (approx. 920 SF each), and(2) 3-bed / 2-bath (approx. 1,270 SF each). The property is also located inthe opportunity zone, which will provide more positive activity to the area overthe next few years.The property is approximately one-third of a mile from the Abrazo Central Campus hospital, a little over a half-mile from the Metro Valley Light Rail and Christown Spectrum Mall (Target, Walmart, Harkins Theatres, etc.), and about a one-and-half mile distance from Grand Canyon University. The location is extremely central and allows residents to enjoy, with ease, so much of what Central Phoenix has to offer. With many dining, shopping, and entertainment options, as well as the I-17 Freeway within minutes (approx. a one-quartermile away), 23 Palms is an attractive investment opportunity and an extremely desirable property for residents. 23 Palms is a mid-century, block-constructed project with a great unit mix of large 3-bed, 2-bed, and 1-bed units. The units feel very secure with the buildings on the property surrounding quaint, quiet, center courtyards which provide tenants an open space to play, gather, walk-dogs etc. It's a rare but very welcome amenity the tenants can enjoy. Four of the units have been highly renovated and include new sewer mains, electrical sub-panels, in-suite washers / dryers, white shaker cabinets, stainless steel appliances with a dishwasher, modern gray plank tile flooring, bathroom vanities and tile shower surrounds, baseboards, two-tone paint, doors, ceiling fans, light fixtures, and more. There was a lot of attention to detail and the units turned out very nicely. There are also five additional units that have undergone a light renovation that includes two-tone paint, exterior doors, blinds, fans, and bathroom and light fixtures, new dishwashers, microwaves, carpet and more. The five classic units have been very well-maintained over the years. The exterior of 23 Palms has been very well maintained and updated as well. Recent upgrades include new xeriscape landscaping, new irrigation systems and plants, new paint, new signage and address numbers, renovated laundry rooms and storage areas, and new asphalt parking in the rear of the property. Additionally, new electrical service panels have been/are being installed where recommended (2 of the 4 buildings). Value-add opportunities exist through additional updating and increasing rents. This property sits on four separate parcels allowing for an investor to get four separate 30-year fixedrate residential loans if they want. This is a great, centrally located, bite-sized deal that has historically maintained very low vacancy and should continue to perform well into the future.
Exterior Features

Construction BlockOther (See Remarks) Construction Finish Other (See Remarks)Painted Covered Parking Spaces 14.00 Exterior Amenities Other (See Remarks) Lot Size Dimensions 0X0 Parking CarportOther (See Remarks) Roads Asphalt Roofing Comp ShingleOther (See Remarks)

Interior Features

1 Bedroom Unit Avg Sq Ft 692 1 Bedroom Unit Baths 1 2 Bedroom Unit Avg Sq Ft 910 2 Bedroom Units Baths 1 3 Bedroom Unit Avg Sq Ft 1270 3 Bedroom Unit Baths 2 4 Bedroom Unit Avg Sq Ft 0 4 Bedroom Unit Baths 0 Appliances Included Other (See Remarks) Cooling OtherSee Remarks Efficiency Unit Avg Sq Ft 0 Efficiency Unit Baths 0 Floors Other Heating OtherSee Remarks Interior Amenities Other (See Remarks)

Property Features

1 Bedroom Unit Avg Rent 1095.00 1 Bedroom Units 4 2 Bedroom Unit Avg Rent 1360.00 2 Bedroom Units 8 3 Bedroom Unit Avg Rent 1575.00 3 Bedroom Units 2 4 Bedroom Unit Avg Rent 0.00 4 Bedroom Units 0 Adjusted Gross Inc 239965.00 Annual Elec Exp 0.00 Annual Gas Exp 0.00 Annual Ins Exp 0.00 Annual Land Lse Exp 0.00 Annual Landscape Exp 0.00 Annual Legal And Acctg 0.00 Annual Maint Exp 0.00 Annual Mgmt Exp 0.00 Annual Other Expense 47059.00 Annual Ownr Asoc Fee 0.00 Annual Pad Fee 0.00 Annual Rplcmnt Rsrvs 0.00 Annual Trash Exp 0.00 Annual Wtr Swr Exp 0.00 Community Amenities No PoolOtherSee Remarks Cross Street 19th Ave & Bethany Home Efficiency Unit Avg Rent 0.00 Efficiency Units 0 Electric Other (See Remarks) Gas Other (See Remarks) Gross Annual Sch Inc 239965.00 Hoa YN No Net Operating Income 187742.00 New Financing Other (See Remarks) Operating Exp 52223.00 Other Income 0.00 Owner Pays LandscapingSewerTrash CollectionWater Project Type 13 - 24 Units Sale Includes Land & Building Sewer Sewer - Public Source Of Financial Data Projected ProformaProvided By Owner Special Owner/Agent Tax Municipality Phoenix Taxes 5164.00 Tenant Pays Electric Vacancy Allowance 0.00 Water OtherSee Remarks Zoning R3

Arizona Regional MLS logo Listing provided by Abi Multifamily: (602) 714-1400.


Arizona Regional MLS logo© 2022 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. The ARMLS logo indicates a property listed by a real estate brokerage other than Yost Realty Group at RE/MAX Casa Grande. Data last updated 2022-06-26T00:15:21.213.
 
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Yost Realty Group at RE/MAX Casa Grande
317 E. Cottonwood Lane, Suite C
Casa Grande AZ, 85122