2102 W ADAMS Street, Phoenix, AZ 85009

$2,220,000

Property Type: Multiple Dwellings Status: Active

Current Price: $2,220,000 Last Modified: 1/08/2025

Description

Unique W Downtown Phoenix area 16 unit. Hard to beat price of $138,750/unit. 9 of the 16 units have recently been upgraded w/ new roofs. Seller financing at 50% LTV or discounted cash offers. New construction apartments across the street w/ many owner-occupants within a block. The complex consists of 16 units (all 1 bedroom/1 bathroom (488/sf /-). 7800 total +/-. Nine buildings on six contiguous lots (36,400 total sf +/-). Ample surface parking. Three duplex buildings line Adams St (6). Four duplexes line 21st Ave with one SF house (9). 2105 W Monroe is the 16th unit. All separate electric/gas. Four water meters. Zoned R-3. Add units or split up the complex. Another option is assumable agency debt (3.87%; $1,155,000 balance; '32 balloon). Long-term owner. Rents range from $1000-$1397.

More Information MLS# 6749136

Contract Info

Current Price: $2,220,000 List Price: $2,220,000 Status: Active List Date: 2024-08-24 Ownership: Fee Simple

Location Tax Legal

House Number: 2102 Compass: W Street Name: ADAMS St Suffix: Street City/Town Code: Phoenix State/Province: AZ Zip Code: 85009 Zip4: 5237 Country: USA County Code: Maricopa Subdivision: CAPITOL ADDITION Assessor Number: 109-32-095 Tax Year: 2023

General Property Description

Lot Size Dimensions: 36400 Year Built: 1921 Uncvrd Parking Spcs: 32 Total # of Units: 16 # of Buildings: 9 Zoning: R-3 Elementary School District: Phoenix Elementary District High School District: Phoenix Union High School District

Remarks Misc

Cross Street: 21st Ave & Adams/Monroe Directions: Just east of the I-17; south of the I-10; and south of Van Buren St. Geo Lat: 33.449502 Geo Lon: -112.104622

Status Change Info

Status Change Date: 2024-08-27

Legal Info

Township: 1N Range: 2E Section: 12 Lot Number: 24

Income Expenses

Gross Annual Sch Inc: 268224 Net Operating Income: 196683

Showing Notification Methods

Showing Service: No Showing Service Used

1 Bedroom Units

# 1 Bedroom Units: 16 Avg Rent: 1397 Avg SqFt: 488 # Baths: 1

Property Features

Project Type: 13 - 24 Units Other Type: Packaged Offering Construction: Brick; Other (See Remarks) Const - Finish: Brick Trim/Veneer; Other (See Remarks) Roofing: Comp Shingle Floors: Vinyl; Ceramic Tile; Other Sale Includes: Building(s) Only; Personal Property Community Amenities: Other; See Remarks Exterior Amenities: Green Landscaping; Desert Landscaping; Partially Fenced; Patio/Balcony; Security Light(s); Other (See Remarks) Interior Amenities: Unfurnished; Fire/Smoke Alarm(s); Other (See Remarks) Appliances Included: BI Oven/Range; F/S Oven/Range; Refrigerator; Disposal; Microwave; W/D Hookup; Other (See Remarks) Heating: Individual; Heat Pump; Window/Wall Unit(s); Other; See Remarks Cooling: Ceiling Fan(s); Electric; Window/Wall Unit; Other; See Remarks Water: City Franchise; Other; See Remarks Sewer: Sewer - Public; Sewer-In & Connected Electric: APS; Individual Meter Gas: SW Gas; Individual Meter Parking: Carport; >1 Space Per Unit; Add'l Parking Avail; Assigned; Other (See Remarks) Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electric; Gas Source of Fincl Data: Provided by Owner; Projected Proforma; Other (See Remarks) Showing Notification Methods: Email Lockbox Type: Mech-box / Combo Existing 1st Loan: Other (See Rmks) Existing 1st Ln Type: Fixed Existing 1st Ln Trms: Assume - Qualify; Fin Info Sub to Veri Existing 2nd Loan: Treat as Free&Clear Existing 2nd Ln Trms: Not Applicable Existing 3rd Loan: Treat as Free&Clear Existing 3rd Ln Type: Not Applicable Existing 3rd Ln Trms: Not Applicable Existing Othr Ln Trm: Not Applicable New Financing: Cash; Conventional; Seller May Carry; Wraparound; Other (See Remarks) Environmental: None

Listing Office: Better Homes & Gardens Real Estate SJ Fowler

Last Updated: January - 08 - 2025

2102 W ADAMS Street, Phoenix, AZ 85009 (MLS# 6749136)