4526 N Black Canyon Highway

    Phoenix, AZ 85017
    • $3,950,000
    • STATUS: Active
    • ON SITE: 60 days
    • MLS #: 6015627
    UPDATED: 51 min ago
    $3,950,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Type:
    Multi-Family
    Built:
    1964
    County:
    Area:

    School Ratings & Info

    Description

    Regency 59 Apartments was constructed in 1964 and has a total of 59 units spanning over 1.55 acres and across 6 adjacent parcels. The property offers a unit mix of (15) 2 bedroom/ 1 bathroom, (4) 1 bedroom/ 1 bathroom, (40) studio units. The property now has 57 rental units as two (2) sustained fire damage in 2017. Separately Metered for Electricity (20 Units on Split Meter System). Parking is abundantly available with 60 on site spaces. The property underwent a partial renovation in 2014 where many AC units and roofs were replaced. Under current ownership, each unit is renovated as the tenant vacates.Regency 59 is a value-add opportunity located in one of the most affordable submarkets in the valley. Recent operations reflect higher than normal vacancy with several down units.

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    © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. The ARMLS logo indicates a property listed by a real estate brokerage other than Brett Tanner Home Selling Team | Keller Williams Realty Phoenix. Data last updated 2020-02-17T13:11:35.137.
    www.yournextphoenixhome.com/homes/101805028

    4526 N Black Canyon Highway Phoenix, AZ 85017

    • Price: $3,950,000
    • Status: Active
    • Updated: 51 min ago
    • MLS #: 6015627
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    1964
    Built
    County:
    Maricopa
    Area:
    Phoenix
    School District:
    068 - Alhambra Elementary District
    Property Description
    Regency 59 Apartments was constructed in 1964 and has a total of 59 units spanning over 1.55 acres and across 6 adjacent parcels. The property offers a unit mix of (15) 2 bedroom/ 1 bathroom, (4) 1 bedroom/ 1 bathroom, (40) studio units. The property now has 57 rental units as two (2) sustained fire damage in 2017. Separately Metered for Electricity (20 Units on Split Meter System). Parking is abundantly available with 60 on site spaces. The property underwent a partial renovation in 2014 where many AC units and roofs were replaced. Under current ownership, each unit is renovated as the tenant vacates.Regency 59 is a value-add opportunity located in one of the most affordable submarkets in the valley. Recent operations reflect higher than normal vacancy with several down units.
    Exterior Features

    Construction BlockBrickFrame - Wood Construction Finish PaintedStuccoBrick Trim/Veneer Covered Parking Spaces 0.00 Exterior Amenities Desert LandscapingFencedSatellite Dish Lot Size Dimensions 126*131*126*131 Parking Free1 Space/UnitPaved ParkingRv/Boat Parking Roads Asphalt Roofing Comp ShingleRolled Total Parking Spaces 60.00

    Interior Features

    1 Bedroom Unit Avg Sq Ft 450 1 Bedroom Unit Baths 1 2 Bedroom Unit Avg Sq Ft 680 2 Bedroom Units Baths 1 3 Bedroom Unit Avg Sq Ft 0 3 Bedroom Unit Baths 0 4 Bedroom Unit Avg Sq Ft 0 4 Bedroom Unit Baths 0 Appliances Included None Cooling Electric RefrigeratdIndividualWindow/Wall Unit Efficiency Unit Avg Sq Ft 355 Efficiency Unit Baths 1 Floors CarpetCeramic Tile Heating ElectricIndividualWindow/Wall Unit(S)Ceiling Fan(S) Interior Amenities Unfurnished

    Property Features

    1 Bedroom Unit Avg Rent 700.00 1 Bedroom Units 4 2 Bedroom Unit Avg Rent 850.00 2 Bedroom Units 15 3 Bedroom Unit Avg Rent 0.00 3 Bedroom Units 0 4 Bedroom Unit Avg Rent 0.00 4 Bedroom Units 0 Adjusted Gross Inc 428070.00 Annual Elec Exp 1200.00 Annual Gas Exp 0.00 Annual Ins Exp 10000.00 Annual Land Lse Exp 0.00 Annual Landscape Exp 4200.00 Annual Legal And Acctg 4200.00 Annual Maint Exp 12000.00 Annual Mgmt Exp 12842.00 Annual Other Expense 0.00 Annual Ownr Asoc Fee 0.00 Annual Pad Fee 0.00 Annual Rplcmnt Rsrvs 0.00 Annual Trash Exp 3600.00 Annual Wtr Swr Exp 19800.00 Community Amenities No Pool Cross Street I-17 Hwy & Camelback Rd Efficiency Unit Avg Rent 550.00 Efficiency Units 40 Electric Individual MeterSrpSubmetered System Gas None Gross Annual Sch Inc 450600.00 Hoa YN No Net Operating Income 350009.00 New Financing Conventional1031 Exchange Operating Exp 78060.00 Other Income 0.00 Owner Pays WaterSewerTrash CollectionLandscaping Project Type 51 - 99 Units Sale Includes Land & Building Sewer Sewer - Public Source Of Financial Data Projected Proforma Tax Municipality Phoenix Taxes 10218.00 Tenant Pays Electric Vacancy Allowance 0.05 Water City Franchise Zoning M-H

    Listing courtesy of West Usa Realty.


    © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. The ARMLS logo indicates a property listed by a real estate brokerage other than Brett Tanner Home Selling Team | Keller Williams Realty Phoenix. Data last updated 2020-02-17T13:11:35.137.
     
    Brett Tanner Home Selling Team | Keller Williams Realty Phoenix
    4862 E. Baseline Rd.
    Mesa AZ, 85206