2231 E TAYLOR Street, Phoenix, AZ 85006
$685,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$685,000
Last Modified:
5/09/2025
Description
This upgraded 5-unit property offers day one cash-flow and nearly a 7% cap rate on actuals! Major upgrades have been done to the bones of the property, including a recent replacement of the main sewer line. Cosmetic upgrades include but are not limited to new flooring, interior & exterior paint, kitchen cabinets & countertops, and bathroom tiles & vanities. The property is well managed with government-assisted tenants on annual leases at market rates. Individually metered for electric. Located in an Opportunity Zone near Phoenix Sky Harbor Airport, downtown Phoenix, and I-10 & Loop 202 freeways. To learn more about City of Phoenix Opportunity Zones go to https://www.phoenix.gov/econdev/opportunity-zones. Drive-by only. Please do not disturb tenants.
More Information MLS# 6597018
Contract Info
Current Price: $685,000
Sold Price: $685,000
Status: Closed
List Date: 2023-08-09
Ownership: Fee Simple
Location Tax Legal
House Number: 2231
Compass: E
Street Name: TAYLOR
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85006
Zip4: 3975
Country: US
County Code: Maricopa
Subdivision: AVIATION HOMESITES
Assessor Number: 116-01-073
Tax Year: 2022
General Property Description
Lot Size Dimensions: Rectangular
Year Built: 1958
Uncvrd Parking Spcs: 6
Total # of Units: 5
# of Buildings: 2
Zoning: Multi
Flood Zone: No
Elementary School District: Wilson Elementary District
High School District: Phoenix Union High School District
Remarks Misc
Cross Street: 24th Street and Taylor
Geo Lat: 33.453727
Geo Lon: -112.033338
Status Change Info
Status Change Date: 2023-11-16
Off Market Date: 2023-10-26
Under Contract Date: 2023-08-29
Close of Escrow Date: 2023-11-15
Sold Price: $685,000
Legal Info
Township: 1N
Range: 3E
Section: 3
Block: 2
Lot Number: 31
Income Expenses
Gross Annual Sch Inc: 68700
Net Operating Income: 47898
1 Bedroom Units
# 1 Bedroom Units: 4
Avg Rent: 1100
Avg SqFt: 425
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 1
Avg Rent: 1200
Avg SqFt: 540
# Baths: 1
Sold Info
Loan Type: Conventional
Loan Years: 30
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Project Type: 5 - 12 Units
Construction: Block
Const - Finish: Painted; Stucco
Roofing: Composition
Floors: Ceramic Tile
Sale Includes: Land & Building
Community Features: No Pool
Appliances Included: None
Cooling: Electric
Water Source: City Franchise
Sewer: Sewer - Public
Electric: City Electric; Individual Meter
Gas: None
Parking Features: On Street; 1 Space/Unit
Owner Pays: Water; Trash Collection
Tenant Pays: Electricity
Source of Fincl Data: Owner
Special: Owner/Agent
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
New Financing: Conventional; 1031 Exchange
Environmental: None
Listing Office: ABI Multifamily
Last Updated: May - 09 - 2025
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