$4,800,000
2939 N 36TH Street
Phoenix, AZ 85018
MLS# 6533594
Status: Closed

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Property Description
Originally built in 1981, Avanti Estates has recently undergone extensive improvements including a new roof, resurfaced pool. 90% of the units have been updated with new flooring, appliances, bathrooms and cabinets. The addition of covered parking has allowed for additional income. 85% of the units have received new air conditioning units. The current management is in the process of turning the water, sewer, and trash over to the tenant allowing for a potential gain of 24K a year in profit. All of Avanti Estate units are metered individually for electric. With a sales price of $5, 500,000, averaging $183,000 per unit, Avanti Estates is an outstanding opportunity for investors. *Seller may carry with the right offer.

Details
Maps
Documents
Contract Info
Ownership: Fee Simple
Current Price: $4,800,000
Sold Price: $4,800,000
Status: Closed
List Date: 2023-03-20
Location, Tax & Legal
Assessor's Map #: 22
Legal Description (Abbrev): LOT 9 CITRUS ACRES LOTS 21-60 MCR 001729
Assessor's Parcel #: 11
Assessor Parcel Ltr: A
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 110902
Taxes: 13503
Legal: CITRUS ACRES MCR 17/29 LOT 9 EX N 16F
Marketing Name: Avanti
Map Code/Grid: P35
House Number: 2939
Compass: N
Street Name: 36TH
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85018
Zip4: 7456
Country: US
County Code: Maricopa
Subdivision: CITRUS ACRES LOTS 21-60
Assessor Number: 127-22-011-A
Tax Year: 2022
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 27
Lot Size Dimensions: 20868
Flood Zone: No
Total # of Units: 30
Elementary School District: Phoenix Elementary District
High School District: Phoenix Union High School District
Elementary School: Creighton Elementary School
Jr. High School: Creighton Elementary School
High School: Camelback High School
Year Built: 1981
Zoning: R4A
Legal Info
Range: 3E
Section: 25
Township: 2N
Lot Number: 9
Project Type
25 - 50 Units: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Foam: 1
Floors
Concrete: 1
Carpet: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 0
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 0
Annual Mgmt Exp: 0
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 0
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 13503
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 0
Pmt & Rate Info
Down Payment: 0
Equity: 5500000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Showing Notification Methods
Phone Call: 1
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Electric: 1
Cooling
Electric: 1
Individual: 1
Exterior Amenities
Desert Landscaping: 1
Tenant Pays
Electricity: 1
Cable TV: 1
Appliances Included
Built-In Range: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
1 Space/Unit: 1
Electric
SRP: 1
Individual Meter: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
New Financing
Cash to Loan: 1
Conventional: 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
None: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Contact Info
List Agent Home Phn: 602-882-3388
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 28
Avg Rent: 675
Avg SqFt: 550
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 2
Avg Rent: 850
Avg SqFt: 700
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Conventional
Loan Years: 30
Closing Cost Split: Normal - N
Payment Type: Fixed
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: 36th Street and Osborn
Directions: Just north of Thomas on 36th Street. Property on the east side of the street
Geo Lat: 33.482069
Geo Lon: -112.003606
Status Change Info
Off Market Date: 2023-05-29
Under Contract Date: 2023-03-28
Close of Escrow Date: 2023-07-03
Sold Price: $4,800,000
Property Features
Project Type: 25 - 50 Units
Construction: Block
Const - Finish: Painted
Roofing: Foam
Floors: Concrete; Carpet
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Desert Landscaping
Appliances Included: Built-In Range
Cooling: Electric; Individual
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP; Individual Meter
Gas: None
Parking Features: 1 Space/Unit
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity; Cable TV
Source of Fincl Data: Owner
Showing Notification Methods: Phone Call
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
Existing 1st Loan Type: Not Applicable
Existing 1st Loan Terms: Not Applicable
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Loan Type: Not Applicable
Existing 2nd Loan Terms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Loan Type: Not Applicable
Existing 3rd Loan Terms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Cash to Loan; Conventional
Environmental: None
IDX
Listing Office: DeLex Realty

Last Updated: May - 16 - 2025

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