1905 W VILLAGE Drive, Phoenix, AZ 85023

$750,000

Property Type: Multiple Dwellings Status: Pending

Current Price: $750,000 Last Modified: 1/10/2025

Description

Exceptional fourplex in a prime location with zero turnover in over five years. This well-maintained asset features three 2-bedroom, 1-bathroom units and one 1-bedroom, 1-bathroom unit. Situated within the North I-17 employment corridor, the area boasts over 95,000 jobs within a 5-mile radius of the property. The roof was replaced in 2020 and comes with a 10-year warranty, while the parking lot was repaved in 2022. 2 HVAC & water heaters replaced in November of 2024. Long-term tenants enjoy the large yard & maintain the property, resulting in minimal expenses for the owner. The owner covers water and electricity for security and laundry, while tenants are responsible for their own electric bills. This presents a value-add opportunity with immediate upside potential,.

More Information MLS# 6732203

Contract Info

Current Price: $750,000 List Price: $750,000 Status: Pending List Date: 2024-07-17 Ownership: Fee Simple

Location Tax Legal

House Number: 1905 Compass: W Street Name: VILLAGE St Suffix: Drive City/Town Code: Phoenix State/Province: AZ Zip Code: 85023 Zip4: 8020 Country: USA County Code: Maricopa Subdivision: Village Meadow Assessor Number: 208-07-080-C Tax Year: 2023

General Property Description

Lot Size Dimensions: 88 x 154 Year Built: 1970 Uncvrd Parking Spcs: 5 Total # of Units: 4 # of Buildings: 2 Zoning: R-3 Flood Zone: No Elementary School District: Deer Valley Unified District High School District: Deer Valley Unified District Elementary School: Village Meadows Elementary School Jr. High School: Deer Valley Middle School High School: Deer Valley High School

Remarks Misc

Cross Street: Bell Road & 19th Avenue Directions: From Bell, North on 19th Avenue to Village Drive, West to property on the South of the Street Geo Lat: 33.644885 Geo Lon: -112.100076

Status Change Info

Status Change Date: 2024-12-24 Off Market Date: 2024-12-24 Under Contract Date: 2024-12-06

Legal Info

Township: 4N Range: 2E Section: 36 Lot Number: /

Income Expenses

Gross Annual Sch Inc: 58800 Net Operating Income: 43733

Showing Notification Methods

Showing Service: Aligned Showings

1 Bedroom Units

# 1 Bedroom Units: 1 Avg Rent: 700 Avg SqFt: 485 # Baths: 1

2 Bedroom Units

# 2 Bedroom Units: 3 Avg Rent: 1000 Avg SqFt: 675 # Baths: 1

Property Features

Project Type: Four Plex Construction: Block; Frame - Wood; Frame - Metal Const - Finish: Brick Trim/Veneer Roofing: Built-Up; Other (See Remarks) Floors: Ceramic Tile; Other Sale Includes: Land & Building; Laundry Equipment Community Amenities: No Pool Exterior Amenities: Desert Landscaping; Fenced; Separate Storage; Security Light(s) Appliances Included: BI Oven/Range; Refrigerator; Microwave; Washer/Dryer Cooling: Ceiling Fan(s); Electric Water: City Franchise Sewer: Sewer - Public Electric: APS Gas: None Parking: 1 Space/Unit; >1 Space Per Unit; Add'l Parking Avail; Paved Parking Owner Pays: Water; Trash Collection Tenant Pays: Electric Source of Fincl Data: Provided by Owner; Projected Proforma Lockbox Type: See Private Remarks New Financing: Cash; VA; FHA; 1031 Exchange Environmental: None

Listing Office: Marcus & Millichap

Last Updated: January - 10 - 2025

1905 W VILLAGE Drive, Phoenix, AZ 85023 (MLS# 6732203)