813 E MARLETTE Avenue, Phoenix, AZ 85014
$5,115,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$5,115,000
List Date:
4/07/2022
Last Modified:
6/25/2022
Overview
Description
Location, Location, Location!
813 Marlette Apartments sits directly in the middle of Uptown Phoenix just off the famed 7th Street Corridor and Restaurant Row. Situated on a quiet street still minutes away from great restaurants, Uptown Plaza, and easy freeway access points to SR51 and I-10.
The property has 14 units. Including (13) 2/2 units, and (1) is a 1/1 unit. It received a full remodel in 2020 with popular modern finishes. All the units include an in-suite washer and dryer. Several units have large outdoor backyards. The property has a new roof, windows, doors, security system, and more. The property has low maintenance desert-scape and a nice courtyard. Each unit is individually metered.
This is a rare and excellent investment in an A location that you don't want to miss!
Listing Details MLS# 6379688
Location, Tax & Legal
- Map Code/Grid
- N34
- House Number
- 813
- Compass
- E
- Street Name
- MARLETTE
- St Suffix
- Avenue
- City/Town Code
- Phoenix
- State/Province
- AZ
- Zip Code
- 85014
- Zip4
- 1507
- County Code
- Maricopa
- Subdivision
- ORANGE HEIGHTS LOTS 44, 45 & TR A
- Assessor Number
- 161-15-035-F
- Tax Year
- 2021
- Assessor's Map #
- 15
- Legal Description (Abbrev)
- ORANGE HEIGHTS N2 N2 LOT 37 EX W 488' EX N 25' & S 8'
- Assessor's Parcel #
- 35
- Assessor Parcel Ltr
- F
- Add'l Parcels
- No
- Tax Municipality
- Phoenix
- Census Tract
- 106501
- Taxes
- 8669
- Legal
- ORANGE HEIGHTS N2 N2 LOT 37 EX W 488' EX N 25' & S 8'
- Marketing Name
- 813 Marlette Apartments
Contract Info
- Ownership
- Fee Simple
General Property Description
- Lot Size Dimensions
- 146x122
- Year Built
- 1962
- Total # of Units
- 14
- # of Buildings
- Yes
- Zoning
- R4
- Elementary School District
- Madison Elementary District
- High School District
- Phoenix Union High School District
- Uncvrd Parking Spcs
- 0
Remarks Misc
- Cross Street
- 7th Street & Bethany Home Rd
- Directions
- North on 7th Street, East on Marlette to property on South side of street.
Status Change Info
- Off Market Date
- 2022-05-25
- Under Contract Date
- 2022-05-12
- Close of Escrow Date
- 2022-06-24
Legal Info
- Township
- 2N
- Range
- 3E
- Section
- 9
- Lot Number
- 37
More Information
Income Expenses
- Gross Annual Sch Inc
- 311100
- Net Operating Income
- 261227
1 Bedroom Units
- # 1 Bedroom Units
- Yes
- Avg Rent
- 1400
- Avg SqFt
- 550
- # Baths
- Yes
2 Bedroom Units
- # 2 Bedroom Units
- 13
- Avg Rent
- 1684
- Avg SqFt
- 929
- # Baths
- 2
Contact Info
- List Agent Cell Phn2
- 6127701717
Sold Info
- Loan Type
- Cash
- Payment Type
- Other
- Closing Cost Split
- Normal - N
- Buyer Concession $/%
- %
- Seller Concession to Buyer
- 90000
- Seller Concession $/%
- $
- Buyer Concession to Seller
- 0
Project Type
- 13 - 24 Units
- Yes
Construction
- Block
- Yes
- Other
- Yes
Const - Finish
- Painted
- Yes
- Other (See Remarks)
- Yes
Roofing
- Other
- Yes
Floors
- Other
- Yes
Sale Includes
- Land & Building
- Yes
Income & Expenses
- Owner Association
- No
- Annual Ownr Asoc Fee
- 0
- Annual Other Expense
- 36671
- Operating Exp
- 45340
- Other Income
- 11022
- Vacancy Allowance
- 0.05
- Adjusted Gross Inc
- 306015.9
Pmt & Rate Info
- Cap Rate
- 4.75
- Equity
- 5495990
- Down Payment %
- 0
- Monthly Payments
- 0
- Total Owed
- 0
Showing Notification Methods
- Text
- Yes
- Yes
- Phone Call
- Yes
Lockbox Type
- None
- Yes
Community Features
- No Pool
- Yes
Heating
- Electric
- Yes
Cooling
- Electric
- Yes
Exterior Amenities
- Desert Landscaping
- Yes
- Partially Fenced
- Yes
- Patio/Balcony
- Yes
- Security Light(s)
- Yes
Interior Features
- Fire Sprinklers
- Yes
Tenant Pays
- Electricity
- Yes
Appliances Included
- Dishwasher
- Yes
- Microwave
- Yes
- Refrigerator
- Yes
- Free-Standing Range
- Yes
- Washer/Dryer
- Yes
Road Surface Type
- Asphalt
- Yes
Source of Fincl Data
- Projected Proforma
- Yes
Water Source
- Master Meter
- Yes
- Other
- Yes
Sewer
- Sewer - Public
- Yes
Parking Features
- Other
- Yes
Electric
- Individual Meter
- Yes
Gas
- Other (See Remarks)
- Yes
Owner Pays
- Water
- Yes
- Sewer
- Yes
- Trash Collection
- Yes
- Landscaping
- Yes
New Financing
- Conventional
- Yes
- 1031 Exchange
- Yes
Special
- Owner/Agent
- Yes
Existing 1st Loan
- Conventional
- Yes
Reports/Disclosures
- Other (See Remarks)
- Yes
Environmental
- None
- Yes
Efficiency Units
- Avg Rent
- 0
3 Bedrooms Units
- Avg Rent
- 0
4 Bedrooms Units
- Avg Rent
- 0
Property Features
Project Type:
13 - 24 Units
Construction:
Block; Other
Const - Finish:
Painted; Other (See Remarks)
Roofing:
Other
Floors:
Other
Sale Includes:
Land & Building
Community Features:
No Pool
Exterior Amenities:
Desert Landscaping; Partially Fenced; Patio/Balcony; Security Light(s)
Interior Features:
Fire Sprinklers
Appliances Included:
Free-Standing Range; Refrigerator; Dishwasher; Microwave; Washer/Dryer
Cooling:
Electric
Water Source:
Master Meter; Other
Sewer:
Sewer - Public
Electric:
Individual Meter
Gas:
Other (See Remarks)
Parking Features:
Other
Road Surface Type:
Asphalt
Owner Pays:
Water; Trash Collection; Landscaping
Tenant Pays:
Electricity
Source of Fincl Data:
Projected Proforma
Special:
Owner/Agent
Showing Notification Methods:
Text; Email; Phone Call
Lockbox Type:
None
Existing 1st Loan:
Conventional
New Financing:
Conventional; 1031 Exchange
Environmental:
None
Documents
Offering Memorandum ›
Listing Office:
HomeSmart
Last Updated: June - 25 - 2022
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