2316 E ROOSEVELT Street, Phoenix, AZ 85006
$1,900,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$1,900,000
List Date:
9/02/2023
Last Modified:
5/05/2025
Description
Great Opportunity To Purchase This 14 Unit Apartment Community Consisting of 10 Two Bedroom One Bath Units and 4 One Bedroom One Bath Units Located Just East of Downtown Phoenix. Updates Include Newer Roofs, Windows, Evap Coolers, Mini-Splits, Flooring, Interior Paint & Some Replaced Cabinets In A Few of The Units. Property Is Comprised of 8 Buildings & Situated on 2 Parcels of Land Totaling Over 1 Acre. All Units Have Their Own Electric Meters. Located At 24th Street & Roosevelt This Property Is Conveniently Located Near Several Major Employers, Major Freeways & Sky Harbor Airport.
More Information MLS# 6599818
Contract Info
Current Price: $1,900,000
Sold Price: $1,900,000
Status: Closed
List Date: 2023-09-01
Ownership: Fee Simple
Location Tax Legal
House Number: 2316
Compass: E
Street Name: ROOSEVELT
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85006
Zip4: 3820
Country: US
County Code: Maricopa
Subdivision: The Franklin
Assessor Number: 116-04-114-C
Tax Year: 2023
General Property Description
Lot Size Dimensions: 297x155
Year Built: 1949
Uncvrd Parking Spcs: 32
Total # of Units: 14
# of Buildings: 8
Zoning: R-5 & C-1
Flood Zone: No
Elementary School District: Creighton Elementary District
High School District: Phoenix Union High School District
Remarks Misc
Cross Street: 24th Street & Roosevelt Street
Directions: Use GPS
Geo Lat: 33.459104
Geo Lon: -112.031727
Status Change Info
Status Change Date: 2023-12-26
Off Market Date: 2023-10-12
Under Contract Date: 2023-09-22
Close of Escrow Date: 2023-12-26
Sold Price: $1,900,000
Legal Info
Township: 1N
Range: 3E
Section: 3
Lot Number: .
Income Expenses
Gross Annual Sch Inc: 162000
Net Operating Income: 118100
1 Bedroom Units
# 1 Bedroom Units: 4
Avg Rent: 950
Avg SqFt: 550
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 10
Avg Rent: 1100
Avg SqFt: 750
# Baths: 1
Sold Info
Loan Type: Cash to Loan
Loan Years: 5
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Project Type: 13 - 24 Units
Construction: Block
Const - Finish: Stucco
Roofing: Composition
Floors: Vinyl
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Desert Landscaping
Appliances Included: Free-Standing Range; Refrigerator; Other
Heating: Individual
Cooling: Ceiling Fan(s); Window/Wall Unit; Evaporative Cooling; Individual
Water Source: City Franchise; Master Meter
Sewer: Sewer - Public; Sewer-In & Connected
Electric: APS; Individual Meter
Gas: SW Gas; Individual Meter
Parking Features: <1 Space Per Unit
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity; Gas
Source of Fincl Data: Owner
Showing Notification Methods: Text; Email; Phone Call
Existing 1st Loan: Private
New Financing: Conventional; No Carry
Environmental: None
Listing Office: Compass
Last Updated: May - 05 - 2025
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