$9,600,000
550 W MARYLAND Avenue 101
Phoenix, AZ 85013
MLS# 5915096
Status: Closed

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Property Description
Valencia Townhomes' attractive Tuscan design makes it one of the most unique and desirable communities in Metro Phoenix. The community consists of 36 townhome units in two two-story buildings that are wrapped by detached parking garages. Individual residences have spacious floor plans averaging ±1,386 square feet with contemporary interiors featuring porcelain tile & hardwoodstyle flooring, granite countertops, stainless-steel energy-efficient appliances including built-in microwaves, large dual-pane windows, garden bathtubs, full size washer and dryers with utility sink, private front courtyard with wrought iron gate, custom iron & glass-front entry door and detached garage parking. Community amenities are a resort-style pool with lounge area & outdoor kitchen area and exercise facility.

Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $9,600,000
Sold Price: $9,600,000
Status: Closed
List Date: 2019-04-22
Location, Tax & Legal
Unit #: 101
Assessor's Map #: 30
Legal Description (Abbrev): LOT 101 VALENCIA CONDOMINIUM AMD MCR 096208
Assessor's Parcel #: 286
Add'l Parcels: Yes
Tax Municipality: Maricopa - COUNTY
Census Tract: 106600
Taxes: 60335
Legal: LOT 101 VALENCIA CONDOMINIUM AMD MCR 096208
Marketing Name: Valencia Townhomes
Map Code/Grid: N34
House Number: 550
Compass: W
Street Name: MARYLAND
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85013
Zip4: 1327
County Code: Maricopa
Subdivision: VALENCIA CONDOMINIUM AMD
Assessor Number: 161-30-286
Tax Year: 2018
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 2
Lot Size Dimensions: 106.67' x 615'
Total # of Units: 36
Elementary School District: Madison Elementary District
High School District: Phoenix Union High School District
Year Built: 2009
Zoning: R-3
Legal Info
Range: 3E
Section: 8
Township: 2N
Lot Number: 101
Project Type
25 - 50 Units: 1
Construction
Wood Frame: 1
Const - Finish
Painted: 1
Stucco: 1
Roofing
Built-Up: 1
Floors
Wood: 1
Ceramic Tile: 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: 60335
Other Income: 21600
Vacancy Allowance: 0
Adjusted Gross Inc: 21600
Pmt & Rate Info
Cap Rate: 5.17
Down Payment: 0
Equity: 10250000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Community Features
Pool: 1
Exercise Room: 1
Barbecue: 1
Heating
Electric: 1
Cooling
Individual: 1
Tenant Pays
Electricity: 1
Appliances Included
Dishwasher: 1
Microwave: 1
Refrigerator: 1
Built-In Range: 1
Washer/Dryer: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
Master Meter: 1
Sewer
Sewer - Public: 1
Parking Features
Garage: 1
Carport: 1
Electric
Individual Meter: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
New Financing
Conventional: 1
No Carry: 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: 602-735-5634
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 36
Avg Rent: 1700
Avg SqFt: 1356
# Baths: 2
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Other
Closing Cost Split: Normal - N
Payment Type: Other
Buyer Concession to Seller: 0
Buyer Concession $/%: %
Seller Concession to Buyer: 0
Seller Concession $/%: %
Remarks Misc
Geo Lat: 33.531301
Geo Lon: -112.081005
Status Change Info
Off Market Date: 2019-09-23
Under Contract Date: 2019-09-09
Close of Escrow Date: 2019-11-14
Sold Price: $9,600,000
Income Expenses
Net Operating Income: 530024
Property Features
Project Type: 25 - 50 Units
Construction: Wood Frame
Const - Finish: Painted; Stucco
Roofing: Built-Up
Floors: Wood; Ceramic Tile; Carpet
Sale Includes: Land & Building
Community Features: Pool; Exercise Room; Barbecue
Appliances Included: Built-In Range; Refrigerator; Dishwasher; Microwave; Washer/Dryer
Cooling: Individual
Water Source: Master Meter
Sewer: Sewer - Public
Electric: Individual Meter
Gas: None
Parking Features: Garage; Carport
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection
Tenant Pays: Electricity
Source of Fincl Data: Owner
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: Conventional; No Carry
Environmental: None
IDX
Listing Office: CBRE, Inc

Last Updated: November - 19 - 2019

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