Properties

Phoenix, AZ 85018 3636 E VERDE Lane

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Presented By: Gerchick Real Estate; 602-688-9279
  • MLS# 6591677
  • 08/18/2023
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  • Garage • 1

Home Details

SELLER CARRYBACK! 3636 E Verde Phoenix is a charming and well-maintained 9-unit apartment building located in the sought-after neighborhood of Arcadia Lite in Phoenix, Arizona. This property offers a fantastic opportunity for both investors and tenants alike with its recent renovations and appealing amenities. One of the most significant updates to the property is the installation of new pipes, which ensures a reliable plumbing system for all the units. Additionally, a newer roof has been put in place, providing enhanced protection against the elements and reducing maintenance costs for the foreseeable future. The building's appeal is further enhanced by the inclusion of dual-pane windows in each unit. These windows not only improve energy efficiency but also minimize noise pollution, These windows not only improve energy efficiency but also minimize noise pollution, allowing tenants to enjoy a peaceful and comfortable living experience. Moreover, with the electric masts being raised, residents can benefit from a more reliable electrical supply, ensuring uninterrupted power to all units. The exterior of the property has not been overlooked in the renovations. New landscaping has been added, creating an inviting and visually appealing environment for the residents. Tenants can take advantage of well-maintained space to relax, socialize, or simply enjoy the outdoors. All nine units are currently fully occupied, indicating a strong demand for housing in this desirable location. This presents an excellent opportunity for the property owner to increase rental rates gradually, contributing to enhanced profitability and return on investment. For the convenience of the residents, the property boasts an on-site laundry room, making laundry chores a breeze. This amenity is highly valued by tenants, making it an attractive feature for prospective renters as well. Moreover, for additional income potential, the property offers a garage rental option. Tenants have the option to rent garages for extra storage space or to park their vehicles securely, providing an added incentive to choose this property as their home. Arcadia Lite is a popular neighborhood known for its unique blend of urban convenience and suburban charm. Residents of this area enjoy easy access to a variety of dining, shopping, and entertainment options, making it an enticing location for potential tenants. In conclusion, 3636 E Verde Phoenix is a well-maintained, fully occupied 9-unit apartment building with numerous attractive features, including new pipes, a newer roof, dual-pane windows, raised electric masts, new landscaping, on-site laundry facilities, and the option for garage rentals. Situated in the desirable Arcadia Lite neighborhood, this property offers excellent potential for rental income growth, making it an appealing investment opportunity in the Phoenix real estate market. Buyer to verify all facts and figures.
Presented By: Gerchick Real Estate; 602-688-9279

Interior Features for 3636 E VERDE Lane

Bathrooms

Total Baths

Other Interior Features

Air Conditioning Y/NYes
Electric On Property Y/NNo
FlooringCarpet, Ceramic Tile
Heating Y/NYes
Street SuffixLane

General for 3636 E VERDE Lane

Additional Parcels Y/NNo
Attached Garage No
Buyer Agent Compensation3.00
Buyer Agent Compensation Type%
Cap Rate5.85
Carport Y/NNo
CityPhoenix
Community FeaturesNo Pool
Construction MaterialsPainted, Stucco, Block, Frame - Wood
CoolingIndividual, Heat Pump, Ceiling Fan(s)
CountyMaricopa
Days on Market252
DirectionsFrom 36th Street go east to 37th Street. Turn North to Verde. Property sits on the North East corner.
DisclosuresOther (See Remarks), Seller Prop Disc Stm, APOD/Backup Avaible, Sch of Personal Prop
ElectricAPS, Individual Meter
Electric Expense1092.0
Elementary School DistrictCreighton Elementary District
Fuel Expense425.0
Garage Y/NYes
Gross Income154753.8
HeatingIndividual, Heat Pump
High School DistrictPhoenix Union High School District
Insurance Expense3124.0
Lease Considered Y/NNo
Lease Renewal Y/NNo
Lot Size Square Feet0.0
MaintenanceExpense2700.0
MobileHomeRemainsYNNo
Net Operating Income128423.0
New_sp_Financing_co_Conventional5True
Occupancy DescriptionTenant
Open Parking Spaces4.0
Operating Expense26223.0
OwnerPaysGas, Trash Collection, Water, Sewer, Landscaping
OwnershipFee Simple
Percent OwnershipFee Simple
Property TypeMultiple Dwellings
Rent Control Y/NNo
RoofComposition
Senior CommunityN
SewerSewer-In & Connected, Public Sewer
Standard StatusActive
StatusActive
Street NameVERDE
Subdivision NameOAKSHIRE
Tax Annual Amount2622.0
Tax Lot8
Tax Year2023
Tenant PaysElectricity, Cable TV
Total Units9
Township2N
View Y/NNo
Virtual TourClick here
Water Sewer Expense2680.0
Year Built1955
ZoningM-M

Exterior for 3636 E VERDE Lane

Covered Spaces8.0
Crops Included Y/NNo
Irrigation Water Rights Y/NNo
Lot Dimensionsirr
Lot Size Acres0.0
Lot Size Area0.0
Number of Buildings3
Open Parking Y/NNo
Parking FeaturesFree, Add'l Parking Avail, >1 Space Per Unit, Street Parking, Common
Road Surface TypeAsphalt, Curb(s) & Gutter(s), Sidewalk(s)
SpaNo
Total Parking12.0
Water SourceCity Franchise, Master Meter

Additional Details

Price History

Connect Realty

Price $2,195,000
MLS#6591677
List Date 08/18/2023
Property Type Multi-Family
Phone 888.795.6274
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