5225 N 17TH Avenue $1,125,000

    Close

    5225 N 17TH Avenue Phoenix, AZ 85015

    • 0 Beds
    • 0 Baths
    • MultiFamily
    • MLS# 6244051
    Favorite Share
    Views: 15 Days On Site: 65

    Go Tour This Home

    Schedule A Showing

    Property Details

    An income producing property with the potential to take advantage of a high density development implementing the Walkable Urban Code which could potentially allow up to 24 Units on the parcel. Located in the heart of the Solano District and a part of the REINVENT PHX program invented to create and attract investment development. New Zoning Ordinances adopted by City Council allowing a higher density with the Walkable Urban Code (WU) REINVENTPHX is committed to developing a walkable, opportunity rich community connected to the light rail. The property consists of 4 1-bedrooms, 1 2-Bedroom and a 2 Bedroom House. A total of 3 buildings. The units have recently undergone an extensive quality renovation and upgrade. Individually metered for electricity with ample parking. Washer and Dryer hookups available with each unit. House has NOT been updated to the level of apartments in anticipation of replacement with another multi-unit building. Rents are substantially below current market values in the neighborhood. This property also has potential for charging RUBS to offset water/sewer/trash/owner electricity expenses (also typical for surrounding properties). This is a definite VALUE-ADD opportunity!!! Adjacent parcel is also available for assemblage at $650,000. See separate listing for details MLS #6244056.

    • General Features
      • Community Amenities No Pool
      • County Maricopa
      • Covered Parking Spcs 1.00
      • Cross Street 17
      • Directions 17
      • Gas None
      • Marketing Name 17th Avenue Apartments
      • New Financing Conventional,Seller May Carry,1031 Exchange
      • Parking Paved Parking,Add'l Parking Avail,>1 Space Per Unit,Carport
      • Project Type 5 - 12 Units
      • Roofing Comp Shingle
      • Subdivision NILE TRACT BLOCK 2
      • Tax Municipality Phoenix
      • Taxes $2,370
      • Total Units 6.00
      • Year Built 1960
      • Zoning R3
    • Building Features
      • Construction Block
      • Appliances Included F/S Oven/Range,Refrigerator
      • Floors Ceramic Tile
      • Cooling Electric Refrigeratd,Heat Pump,Individual
      • Heating Electric,Ceiling Fan(s),Central,Heat Pump
    • Room Features
      • # 1 Bedroom Units 4
      • 1 Bedroom Units: Avg Rent 886.00
      • 1 Bedroom Units: Avg SqFt 625
      • 1 Bedroom Units: # Baths 1
      • # 2 Bedroom Units 2
      • 2 Bedroom Units: # Baths 1
      • 2 Bedroom Units: Avg Rent 963.00
      • 2 Bedroom Units: Avg SqFt 834
      • # 3 Bedroom Units 0
      • 3 Bedroom Units: Avg SqFt 0
      • 3 Bedrooms Units: # Baths 0
      • 3 Bedrooms Units: Avg Rent 0.00
      • # 4 Bedroom Units 0
      • 4 Bedrooms Units: # Baths 0
      • 4 Bedrooms Units: Avg Rent 0.00
      • 4 Bedroom Units: Avg SqFt 0
    • Property Features
      • Efficiency Units: # Efficiency Units 0
      • Efficiency Units: # Baths 0
      • Efficiency Units: Avg SqFt 0
      • Efficiency Units: Avg Rent 0.00
      • Legal Info: Township 18
      • Tenant Pays Electric
      • Owner Pays Water,Trash Collection,Sewer
      • Income & Expenses: Totl Mnth Rntal Inc 5470.00
      • Income & Expenses: Net Operating Income 50358.00
      • Income & Expenses: Gross Annual Sch Inc 65640.00
      • Income & Expenses: Adjusted Gross Inc 63498.00
      • Legal Info: Range 3E
      • Legal Info: Lot Number 5
      • Total Parking Space 13.00
      • Electric SRP
      • Exterior Amenities Landscape Wtr System,Security Light(s),Separate Storage,Partially Fenced
      • Sewer Sewer - Public
      • Water City Franchise
    • Schools
      • Elementary School Solano School
      • High School Central High School
      • Middle School Osborn Middle School
      • School District 210 - Phoenix Union High School District

    Contact

    Neighborhood

    85015 (Phoenix) Demographics

    32 Median Age
    7,952 Population Density (per sq. mile)
    25% College Educated
    $30,661 Estimated Median Income
    5,114 Estimated Total Home Owners
    9,490 Estimated Total Renters
    35% / 65% Estimated Owner / Renter Divide
    10 Estimated Average Household Size
    38,829 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $0 Median Sales Price
    0 Homes Sold
    50 New On Market

    Average Days on Site

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- Current Price Source: Multiple Listing Service New Value: $1,125,000 -6.25%
        6/1/2021 12:44:00 PM New in Database Source: Multiple Listing Service New Value: $1,200,000

        Payment Calculator

        $0 per month
        Year Fixed, Interest
        Principal and Interest
        $0
        Property Taxes
        Homeowners' Insurance

        Home Price
        Down Payment
        *This Payment Calculator is intended for educational and planning purposes only.
        **Assumes 3.5% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.
        Copyright 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Deemed Reliable But Not Guaranteed. Data last updated 8/5/2021 2:46:22 PM. The ARMLS logo indicates a property listed by a real estate brokerage other than Tangible Wealth A Luxury Real Estate Company.

        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.