$6,590,000
Phoenix, AZ 85013
MLS# 5252700
Status: Closed
1 / 12
Property Description
Valencia Townhomes is a Class-‘A’, luxury 36-unit garden-style townhome community located in an irreplaceable north/central Phoenix location. The property is situated in a quiet, mature neighborhood on Maryland Avenue, just west of Central Avenue. The community consists of two two-story frame and stucco buildings constructed in 2009. The property has built-up roofs with individual air conditioning units and individual hot water heaters.
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $6,590,000
Sold Price: $6,590,000
Status: Closed
List Date: 2015-03-19
Location, Tax & Legal
Assessor's Map #: 30
Legal Description (Abbrev): VALENCIA CONDOMINIUM AMD MCR 962-08 UNIT 101 (PLEASE NOTE: FOR LEGAL DESCRIPTION REFERENCES REGARDIN
Assessor's Parcel #: 286
Add'l Parcels: Yes
Tax Municipality: Maricopa - COUNTY
Census Tract: 106600
Taxes: 55736
Legal: VALENCIA CONDOMINIUM
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
Assessor Number: 161-30-286
Tax Year: 2009
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 24
Lot Size Dimensions: 106722
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
Tile: 1
Floors
Ceramic Tile: 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: 169936
Operating Exp: 225672
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 480706.65
Pmt & Rate Info
Cap Rate: 5.05
Down Payment: 0
Equity: 6650000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Community Features
Pool: 1
Manager Res/Office: 1
Clubhouse: 1
Exercise Room: 1
Game/Rec Room: 1
Play Area: 1
Heating
Individual: 1
Cooling
Individual: 1
Exterior Amenities
Green Landscaping: 1
Fenced: 1
Patio/Balcony: 1
Separate Storage: 1
Security Light(s): 1
Guard Gate: 1
Interior Features
Unfurnished: 1
Tenant Pays
Electricity: 1
Appliances Included
Dishwasher: 1
Microwave: 1
Refrigerator: 1
Free-Standing Range: 1
Washer/Dryer: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Garage: 1
On Street: 1
Electric
APS: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
New Financing
Conventional: 1
Existing 1st Loan
Conventional: 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: 1275
Avg SqFt: 1386
# Baths: 2
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Conventional
Loan Years: 1
Closing Cost Split: Normal - N
Payment Type: Fixed
Buyer Concession to Seller: 0
Buyer Concession $/%: %
Seller Concession to Buyer: 0
Seller Concession $/%: %
Remarks Misc
Geo Lat: 33.532075
Geo Lon: -112.080961
Status Change Info
Off Market Date: 2015-06-23
Under Contract Date: 2015-06-22
Close of Escrow Date: 2015-06-29
Sold Price: $6,590,000
Income Expenses
Gross Annual Sch Inc: 506007
Net Operating Income: 336071
Property Features
Project Type: 25 - 50 Units
Construction: Wood Frame
Const - Finish: Painted; Stucco
Roofing: Built-Up; Tile
Floors: Ceramic Tile
Sale Includes: Land & Building
Community Features: Pool; Manager Res/Office; Clubhouse; Exercise Room; Game/Rec Room; Play Area
Exterior Amenities: Green Landscaping; Fenced; Patio/Balcony; Separate Storage; Security Light(s); Guard Gate
Interior Features: Unfurnished
Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Microwave; Washer/Dryer
Heating: Individual
Cooling: Individual
Water Source: City Franchise
Sewer: Sewer - Public
Electric: APS
Gas: None
Parking Features: Garage; On Street
Road Surface Type: Asphalt
Owner Pays: Water
Tenant Pays: Electricity
Source of Fincl Data: Owner
Existing 1st Loan: Conventional
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
Environmental: None
Supplements
The community consists of 36 units with two oversized floor plans that feature two bedroom, two and one half bathroom units at 1,356 SF and two-bedroom, two bathroom loft units at 1,445 SF. All units at Valencia Townhomes include a detached garage, 18" porcelain tile flooring, new contemporary cabinetry with premium hardware, Gourmet kitchens with granite Countertops and backsplashes, full-size stainless steel appliances including built-in microwaves, porcelain tile shower surrounds, premium ceiling fans, low-flow toilets, full-sized washers and dryers, walk-in closets, private balconies, custom-made iron and glass front doors and wrought iron fenced front patios.
The property is situated on just under two and a half acres and has attractive, professionally designed landscaping with mature shade trees and lush turf. This low density townhome community features a resort-style pool with outdoor kitchen and lounge area, a fitness center, guest parking, and lighted walkways and common areas.
Valencia Townhomes offers an investor the rare opportunity to acquire a pride of ownership townhome community located in a dynamic north/central Phoenix location with individual resale potential. Over the last quarter, the north/central Phoenix submarket average occupancy increased by 76 basis points, more than two times that of the metropolitan Phoenix average. Furthermore, the submarket average rents increased by more than 5% in 2014. With the strong submarket fundamentals coupled with the Phoenix market's continual improvement and recovery, Valencia Townhomes is well positioned to achieve continual revenue increase.
Listing Office: CBRE, Inc
Last Updated: June - 30 - 2015
Copyright 2025 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.