$2,750,000
2011 N 51ST Street
Phoenix, AZ 85008
MLS# 5901863



2011 N 51ST Street, Phoenix, AZ 85008
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2011 N 51ST Street, Phoenix, AZ 85008 2011 N 51ST Street, Phoenix, AZ 85008 2011 N 51ST Street, Phoenix, AZ 85008 Single Family 3b/2b/2g with large backyard. Detached from other units. 2011 N 51ST Street, Phoenix, AZ 85008 2011 N 51ST Street, Phoenix, AZ 85008 2011 N 51ST Street, Phoenix, AZ 85008 2011 N 51ST Street, Phoenix, AZ 85008

Property Description
Desert Pine is a 20-unit, garden-style apartment community located in Phoenix, Arizona. The block/frame constructed property was built in 1979 and has a unit mix which consists of 16 one-bedroom/one-bath units, 2 two-bedroom/one-bath units, 1 efficiency unit, and 1 three-bedroom/two-bath, two-car-garage single family home. Each unit is individually metered for electricity and hot water and is equipped with a dishwasher, frost-free refrigerator, garbage disposal, oven/range and ceiling fans. The community has a swimming pool, on-site laundry facility, and barbecue areas.

Details
Maps
Contract Info
Current Price: $2,750,000
List Price: $2,750,000
List Date: 2019-03-27
Location, Tax & Legal
Map Code/Grid: P36
House Number: 2011
Compass: N
Street Name: 51ST
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85008
Zip4: 4251
Country: USA
County Code: Maricopa
Subdivision: ORANGEDALE TRACT 11,13,14,15
Assessor Number: 126-21-011
Taxes: 7542
Marketing Name: Desert Pine Apartments
General Property Description
Apx Lot Size Range: unknown
Year Built: 1979
Zoning: R-3
Elem School Dist #: 031 - Balsz Elementary District
High School Dist #: 210 - Phoenix Union High School District
Remarks & Misc
Geo Lat: 33.469698
Geo Lon: -111.971136
Status Change Info
Status Change Date: 2019-08-20
Status: Active
Legal Info
Township: 2N
Range: 4E
Section: 32
Lot Number: 12
Income & Expenses
Annual Elec Exp: 2400
Annual Ins Exp: 8000
Annual Landscape Exp: 3500
Annual Maint Exp: 7000
Annual Mgmt Exp: 13730
Annual Trash Exp: 1500
Annual Wtr/Swr Exp: 4200
Owner Association: No
Annual Rplcmnt Rsrvs: 6000
Annual Other Expense: 6900
Operating Exp: 60772
Gross Annual Sch Inc: 226620
Other Income: 15700
Vacancy Allowance: 0.05
Adjusted Gross Inc: 230204
Net Operating Income: 168063
Pmt & Rate Info
Cap Rate: 5.6
Equity: 3000000
Showing Instructions
Permission Required to Show: Yes
ARMLS Lockbox: No
Non-ARMLS Lockbox: No
Efficiency Units
# Efficiency Units: 1
Avg Rent: 850
Avg SqFt: 600
# Baths: 1
1 Bedroom Units
# 1 Bedroom Units: 16
Avg Rent: 1050
Avg SqFt: 640
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 2
Avg Rent: 1250
Avg SqFt: 865
# Baths: 1
3 Bedrooms Units
# 3 Bedroom Units: 1
Avg Rent: 1950
Avg SqFt: 1642
# Baths: 2
Property Features
Project Type: 13 - 24 Units
Construction: Block
Const - Finish: Painted
Roofing: Comp Shingle
Floors: Ceramic Tile; Carpet
Sale Includes: Other (See Remarks)
Community Amenities: Pool(s)
Appliances Included: BI Oven/Range; Refrigerator; Dishwasher; Other (See Remarks)
Heating: Electric
Cooling: Central A/C
Water: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: None
Parking: >1 Space Per Unit; Paved Parking; Other (See Remarks)
Roads/Streets: Asphalt/Blacktop
Owner Pays: Water; Trash
Tenant Pays: Electric
Source of Fincl Data: Other (See Remarks)
Existing 1st Loan: Conventional
Existing 1st Ln Type: Fixed
Existing 1st Ln Trms: Non Assumable
Existing 2nd Loan: Other (See Remarks)
Existing 2nd Ln Type: Not Applicable
Existing 2nd Ln Trms: Not Applicable
Existing 3rd Loan: Other (See Remarks)
Existing 3rd Ln Type: Not Applicable
Existing 3rd Ln Trms: Not Applicable
Existing Othr Ln Trm: Other (See Remarks)
New Financing: Conventional; No Carry
Reports/Disclosures: None
Environmental: None
Supplements
Situated in the fast-growing Papago Area of Phoenix, Desert Pine residents enjoy direct access to all areas of the Valley by way of the 202 Freeway (leads to I-10) and 143 Freeway. The vibrant Phoenix area offers numerous dining, entertainment, and recreational opportunities within minutes of the community. Located two miles southeast of the property stands the iconic Papago Park. The 1,200-acre park is home to numerous attractions including: Desert Botanical Gardens, Phoenix Zoo, Papago Golf Course, Papago Sports Complex, as well as miles of hiking trails, bike paths, and lakes.Significant employers in proximity to the property include Arizona State University, ON Semiconductor, Salt River Project, Sonoran Quest Laboratories, and Phoenix Sky Harbor International Airport.

Listing Office: ABI Multifamily

Last Updated: September - 11 - 2019

2011 N 51ST Street, Phoenix, AZ 85008 - MLS# 5901863

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Sunday 15th of September 2019 02:09 PM