Properties
Phoenix, AZ 85013 4118 N 3RD Avenue
$615,000
12 more
Presented By: Matthews Real Estate Investment Services; 310-388-0788
Home Details
4118 N 3rd Ave is a 3-unit apartment community located in the Midtown Submarket of Phoenix, Arizona. Originally constructed in 1952, the property has undergone significant capital improvements over recent years, including interior updates, brand new plumbing system with 100% PEX , newer roof, water heaters, upgraded electrical, and added private fencing. The building consists of (3) one-bedroom, one-bathroom floor plans and a covered parking spot for each unit. Each unit is currently occupied at below market rents, allowing for considerable rental upside. New ownership acquire a renovated and well-performing asset with near-term upside in a highly desirable and centralized location along the Central Avenue Corridor.
Presented By: Matthews Real Estate Investment Services; 310-388-0788
Interior Features for 4118 N 3RD Avenue
Bathrooms
Total Baths
Other Interior Features
Air Conditioning Y/NYes
FlooringCeramic Tile
Heating Y/NYes
General for 4118 N 3RD Avenue
Additional Parcels Y/NNo
Attached Garage No
Cap Rate5.67
Carport Y/NNo
CityPhoenix
Community FeaturesSee Remarks, No Pool
Construction MaterialsPainted, Block
CoolingCentral Air, Ceiling Fan(s), Electric, Heat Pump, Individual
CountyMaricopa
DisclosuresSeller Prop Disc Stm
ElectricSRP
Elementary School DistrictOsborn Elementary District
Garage Y/NNo
Gross Income42108.0
HeatingHeat Pump, Electric
High School DistrictPhoenix Union High School District
Insurance Expense1713.0
Lease Considered Y/NNo
Lease Renewal Y/NNo
MobileHomeRemainsYNNo
Net Operating Income36015.0
New ConstructionNo
New Financing: CashTrue
New Financing: ConventionalTrue
Number Of Units Total3
Occupancy TypeTenant
Open Parking Spaces2.0
Operating Expense6294.0
OwnerPaysTrash Collection, Water, Sewer, Landscaping
OwnershipFee Simple
OwnershipFee Simple
Property TypeMultiple Dwellings
Rent Control Y/NNo
RoofComposition
Senior CommunityN
SewerSewer-In & Connected, Public Sewer
Standard StatusActive
StatusActive
Subdivision NameINDIAN PARK
Tax Annual Amount1161.0
Tax Lot58
Tax Year2024
Township2N
Water Sewer Expense2700.0
Year Built1952
ZoningR4
Exterior for 4118 N 3RD Avenue
Covered Spaces3.0
Crops Included Y/NNo
Irrigation Water Rights Y/NNo
Lot Dimensions112x66
Number of Buildings1
Parking FeaturesAdd'l Parking Avail, 1 Space/Unit, Carport
Road Surface TypeAsphalt
SpaNo
Total Parking5.0
Water SourceMaster Meter, City Franchise
Additional Details
Price History
