$6,650,000
Phoenix, AZ 85013
MLS# 5252700
Status: Closed
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Property Description
Valencia Townhomes is a Class-‘A’, luxury 36-unit garden-style townhome community located in an irreplaceable north/central Phoenix location. The property is situated in a quiet, mature neighborhood on Maryland Avenue, just west of Central Avenue. The community consists of two two-story frame and stucco buildings constructed in 2009. The property has built-up roofs with individual air conditioning units and individual hot water heaters.
Details
Maps
Contract Info
Current Price: $6,590,000
Sold Price: $6,590,000
Status: Closed
List Date: 2015-03-19
Ownership: Fee Simple
Location Tax Legal
Map Code/Grid: N34
House Number: 550
Compass: W
Street Name: MARYLAND
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85013
Zip4: 1327
County Code: Maricopa
Subdivision: VALENCIA CONDOMINIUM
Assessor Number: 161-30-286
Tax Year: 2009
General Property Description
Lot Size Dimensions: 106722
Year Built: 2009
Uncvrd Parking Spcs: 24
Total # of Units: 36
# of Buildings: 2
Zoning: R-3
Elementary School District: Madison Elementary District
High School District: Phoenix Union High School District
Remarks Misc
Geo Lat: 33.532075
Geo Lon: -112.080961
Status Change Info
Off Market Date: 2015-06-23
Under Contract Date: 2015-06-22
Close of Escrow Date: 2015-06-29
Sold Price: $6,590,000
Legal Info
Township: 2N
Range: 3E
Section: 8
Lot Number: 101
Income Expenses
Gross Annual Sch Inc: 506007
Net Operating Income: 336071
2 Bedroom Units
# 2 Bedroom Units: 36
Avg Rent: 1275
Avg SqFt: 1386
# Baths: 2
Contact Info
List Agent Home Phn: 602-735-5634
Sold Info
Loan Type: Conventional
Loan Years: 1
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: %
Seller Concession $/%: %
Property Features
Project Type: 25 - 50 Units
Construction: Wood Frame
Const - Finish: Painted; Stucco
Roofing: Built-Up; Tile
Floors: Ceramic Tile
Sale Includes: Land & Building
Community Features: Pool; Manager Res/Office; Clubhouse; Exercise Room; Game/Rec Room; Play Area
Exterior Amenities: Green Landscaping; Fenced; Patio/Balcony; Separate Storage; Security Light(s); Guard Gate
Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Microwave; Washer/Dryer
Heating: Individual
Cooling: Individual
Water Source: City Franchise
Sewer: Sewer - Public
Electric: APS
Gas: None
Parking Features: Garage; On Street
Owner Pays: Water
Tenant Pays: Electricity
Source of Fincl Data: Owner
Existing 1st Loan: Conventional
Existing 2nd Loan: Treat as Free&Clear
Existing 3rd Loan: Treat as Free&Clear
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional
Environmental: None
Supplements
The community consists of 36 units with two oversized floor plans that feature two bedroom, two and one half bathroom units at 1,356 SF and two-bedroom, two bathroom loft units at 1,445 SF. All units at Valencia Townhomes include a detached garage, 18" porcelain tile flooring, new contemporary cabinetry with premium hardware, Gourmet kitchens with granite Countertops and backsplashes, full-size stainless steel appliances including built-in microwaves, porcelain tile shower surrounds, premium ceiling fans, low-flow toilets, full-sized washers and dryers, walk-in closets, private balconies, custom-made iron and glass front doors and wrought iron fenced front patios.
The property is situated on just under two and a half acres and has attractive, professionally designed landscaping with mature shade trees and lush turf. This low density townhome community features a resort-style pool with outdoor kitchen and lounge area, a fitness center, guest parking, and lighted walkways and common areas.
Valencia Townhomes offers an investor the rare opportunity to acquire a pride of ownership townhome community located in a dynamic north/central Phoenix location with individual resale potential. Over the last quarter, the north/central Phoenix submarket average occupancy increased by 76 basis points, more than two times that of the metropolitan Phoenix average. Furthermore, the submarket average rents increased by more than 5% in 2014. With the strong submarket fundamentals coupled with the Phoenix market's continual improvement and recovery, Valencia Townhomes is well positioned to achieve continual revenue increase.
Listing Office: CBRE, Inc
Last Updated: June - 30 - 2015
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