2939 N 36TH Street, Phoenix, AZ 85018 (MLS# 6533594)

2939 N 36TH Street, Phoenix, AZ 85018

$4,800,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $4,800,000 Last Modified: 5/16/2025

Overview

Description

Originally built in 1981, Avanti Estates has recently undergone extensive improvements including a new roof, resurfaced pool. 90% of the units have been updated with new flooring, appliances, bathrooms and cabinets. The addition of covered parking has allowed for additional income. 85% of the units have received new air conditioning units. The current management is in the process of turning the water, sewer, and trash over to the tenant allowing for a potential gain of 24K a year in profit. All of Avanti Estate units are metered individually for electric. With a sales price of $5, 500,000, averaging $183,000 per unit, Avanti Estates is an outstanding opportunity for investors. *Seller may carry with the right offer.

Listing Details MLS# 6533594

Location, Tax & Legal

Map Code/Grid: P35
House Number: 2939
Compass: N
Street Name: 36TH
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85018
Zip4: 7456
County Code: Maricopa
Subdivision: CITRUS ACRES LOTS 21-60
Assessor Number: 127-22-011-A
Tax Year: 2022
Assessor's Map #: 22
Legal Description (Abbrev): LOT 9 CITRUS ACRES LOTS 21-60 MCR 001729
Assessor's Parcel #: 11
Assessor Parcel Ltr: A
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 110902
Taxes: 13503
Legal: CITRUS ACRES MCR 17/29 LOT 9 EX N 16F
Marketing Name: Avanti

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 20868
Year Built: 1981
Uncvrd Parking Spcs: 27
Total # of Units: 30
# of Buildings: 2
Zoning: R4A
Flood Zone: No
Elementary School District: Phoenix Elementary District
High School District: Phoenix Union High School District
Elementary School: Creighton Elementary School
Jr. High School: Creighton Elementary School
High School: Camelback High School

Remarks Misc

Cross Street: 36th Street and Osborn
Directions: Just north of Thomas on 36th Street. Property on the east side of the street

Status Change Info

Off Market Date: 2023-05-29
Under Contract Date: 2023-03-28
Close of Escrow Date: 2023-07-03

Legal Info

Township: 2N
Range: 3E
Section: 25
Lot Number: 9

More Information

1 Bedroom Units

# 1 Bedroom Units: 28
Avg Rent: 675
Avg SqFt: 550
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: 2
Avg Rent: 850
Avg SqFt: 700
# Baths: Yes

Contact Info

List Agent Home Phn: 602-882-3388

Sold Info

Loan Type: Conventional
Loan Years: 30
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Buyer Concession to Seller: 0
Seller Concession to Buyer: 0

Project Type

25 - 50 Units: Yes

Construction

Block: Yes

Const - Finish

Painted: Yes

Roofing

Foam: Yes

Floors

Concrete: Yes
Carpet: Yes

Sale Includes

Land & Building: Yes

Income & Expenses

Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 0
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 0
Annual Mgmt Exp: 0
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 0
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 13503
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 0

Pmt & Rate Info

Down Payment: 0
Equity: 5500000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0

Showing Notification Methods

Phone Call: Yes

Lockbox Type

None: Yes

Community Features

No Pool: Yes

Heating

Electric: Yes

Cooling

Electric: Yes
Individual: Yes

Exterior Amenities

Desert Landscaping: Yes

Tenant Pays

Electricity: Yes
Cable TV: Yes

Appliances Included

Built-In Range: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

1 Space/Unit: Yes

Electric

SRP: Yes
Individual Meter: Yes

Gas

None: Yes

Owner Pays

Water: Yes
Sewer: Yes
Trash Collection: Yes
Landscaping: Yes

New Financing

Cash to Loan: Yes
Conventional: Yes

Existing 1st Loan

Treat as Free&Clear: Yes

Existing 1st Loan Type

Not Applicable: Yes

Existing 1st Loan Terms

Not Applicable: Yes

Existing 2nd Loan

Treat as Free&Clear: Yes

Existing 2nd Loan Type

Not Applicable: Yes

Existing 2nd Loan Terms

Not Applicable: Yes

Existing 3rd Loan

Treat as Free&Clear: Yes

Existing 3rd Loan Type

Not Applicable: Yes

Reports/Disclosures

None: Yes

Existing 3rd Loan Terms

Not Applicable: Yes

Environmental

None: Yes

Existing Othr Ln Trm

Not Applicable: Yes

Efficiency Units

Avg Rent: 0

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: 25 - 50 Units Construction: Block Const - Finish: Painted Roofing: Foam Floors: Concrete; Carpet Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Desert Landscaping Appliances Included: Built-In Range Cooling: Electric; Individual Water Source: City Franchise Sewer: Sewer - Public Electric: SRP; Individual Meter Gas: None Parking Features: 1 Space/Unit Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity; Cable TV Source of Fincl Data: Owner Showing Notification Methods: Phone Call Lockbox Type: None 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: Cash to Loan; Conventional Environmental: None

Documents

Brochure ›

Listing Office: DeLex Realty

Last Updated: May - 16 - 2025

2939 N 36TH Street, Phoenix, AZ 85018 (MLS# 6533594)