$995,000
$995,000
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SOLD DATE : 11/29/2019
Key Details
Sold Price $995,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 5980180
Sold Date 11/29/19
Maintenance Fees $3,200
Originating Board Arizona Regional Multiple Listing Service (ARMLS)
Year Built 1962
Annual Tax Amount $3,303
Tax Year 2019
Lot Dimensions 66 x 303
Property Description
Fairmount Eight was renovated in 2018 with
approximately $20,000 per unit in improvements
to the interiors and common areas. Interior renovations included upgrading kitchens, flooring, bathrooms, dual pane windows retextured ceilings, updated ceiling
fans and fixtures. Fairmount Eight is located 0.5 miles from the Phoenix VA Hospital, 1 mile from Phoenix Indian Medical Center, 2 miles from Phoenix Children's
Hospital and 1.5 miles from the Creighton University
medical school, St. Joseph's Hospital and the Midtown Employment Corridor. Market comps suggest that there is more room in the market rents based on current condition. Additionally, new ownership will have the opportunity to incorporate a utility recapture or RUBS.
Comparables in the area suggest a $45 monthly
RUBS across all units.
Location
State AZ
County Maricopa
Zoning R-3
Direction Indian School Road to 12th St. South on 12th Street to Fairmount Ave , west to property
Interior
Heating Individual, Window/Wall Unit(s), 2 or More Units, Electric
Cooling Individual, Wall/Window Unit(s), Ceiling Fan(s)
Appliance Dishwasher, Disposal, FS OvenRange, Refrigerator, Microwave
Exterior
Parking Features Common
Community Features No Pool
Roof Type See Remarks, Composition
Total Parking Spaces 12
Building
Sewer Public Sewer
Water City Franchise, Master Meter
New Construction No
Schools
School District Phoenix Union High School District
Others
Senior Community No
Tax ID 118-03-026
Acceptable Financing Conventional, 1031 Exchange
Listing Terms Conventional, 1031 Exchange
Financing Conventional
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1449 E White Mountain Blvd.null, Pinetop, Arizona, 85935, USA