$890,000
Phoenix, AZ 85021
MLS# 6076014
Status: Closed
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Property Description
Ironwood Apartments is located North Phoenix. Apartment fundamentals in North Phoenix are tighter than ever. Consistent demand and minimal new supply has kept vacancies near all-time lows in recent quarters. This is a fully rented 8 units. This has amazing unit mix six two bedrooms and two ones rented as utilities included on the ones for higher rents for veteran program. Others are rented as regular one year leases. Newer 1980's construction and brand new paint. All facts and figures are approximate buyer verify MLS information. Drive by only the tenants are unaware of the sale. Demand is propped up by the submarket's affordability, proximity to major employment nodes, and accessibility via the I-17 and Piestewa Freeway.
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $890,000
Sold Price: $890,000
Status: Closed
List Date: 2020-05-08
Location, Tax & Legal
Assessor's Map #: 30
Legal Description (Abbrev): LOT 84 IRONWOOD PLACE PLAT 2 MCR 003730
Assessor's Parcel #: 57
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 104502
Taxes: 1666
Legal: LOT 84 IRONWOOD PLACE PLAT 2 MCR 003730
Marketing Name: IRONWOOD PLACE
Map Code/Grid: M34
House Number: 1212
Compass: W
Street Name: Mountain View
St Suffix: Road
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85021
Zip4: 3076
Country: US
County Code: Maricopa
Subdivision: IRONWOOD PLACE PLAT 2
Assessor Number: 158-30-057
Tax Year: 2018
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 6
Lot Size Dimensions: irr
Total # of Units: 8
Elementary School District: Washington Elementary District
High School District: Glendale Union High School District
Year Built: 1986
Zoning: multi
Legal Info
Range: 3E
Section: 30
Township: 3N
Lot Number: 84
Project Type
5 - 12 Units: 1
Construction
Wood Frame: 1
Const - Finish
Painted: 1
Stucco: 1
Roofing
Built-Up: 1
Floors
Ceramic Tile: 1
Carpet: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 2500
Annual Gas Exp: 0
Annual Ins Exp: 1880
Annual Land Lse Exp: 0
Annual Landscape Exp: 1000
Annual Legal & Acctg: 0
Annual Maint Exp: 6000
Annual Mgmt Exp: 4090
Annual Trash Exp: 1260
Annual Wtr/Swr Exp: 4550
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 22946
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 82547.4
Total Monthly Rental Income: 7241
Pmt & Rate Info
Cap Rate: 6.62
Down Payment: 0
Equity: 900000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Lockbox Type
None: 1
Community Features
Other: 1
See Remarks: 1
Heating
Electric: 1
Cooling
Electric: 1
Exterior Amenities
Desert Landscaping: 1
Cable TV Available: 1
Security Light(s): 1
Interior Features
Unfurnished: 1
Tenant Pays
Electricity: 1
Cable TV: 1
Appliances Included
Refrigerator: 1
Free-Standing Range: 1
Road Access Type
Alley: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Paved: 1
Electric
APS: 1
Individual Meter: 1
Gas
None: 1
Owner Pays
Water: 1
Trash Collection: 1
Landscaping: 1
New Financing
Conventional: 1
Existing 1st Loan
Private: 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
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 2
Avg Rent: 1057
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 6
Avg Rent: 854
# 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: 50000
Seller Concession $/%: $
Remarks Misc
Cross Street: 7th Ave / Hatcher
Directions: West on Hatcher to 9th Avenue, north to Mountain View, west to the property
Geo Lat: 33.575186
Geo Lon: -112.088354
Status Change Info
Off Market Date: 2020-10-14
Under Contract Date: 2020-08-21
Close of Escrow Date: 2020-10-15
Sold Price: $890,000
Income Expenses
Gross Annual Sch Inc: 86892
Net Operating Income: 59601
Property Features
Project Type: 5 - 12 Units
Construction: Wood Frame
Const - Finish: Painted; Stucco
Roofing: Built-Up
Floors: Ceramic Tile; Carpet
Sale Includes: Land & Building
Community Features: Other; See Remarks
Exterior Amenities: Desert Landscaping; Cable TV Available; Security Light(s)
Interior Features: Unfurnished
Appliances Included: Free-Standing Range; Refrigerator
Cooling: Electric
Water Source: City Franchise
Sewer: Sewer - Public
Electric: APS; Individual Meter
Gas: None
Parking Features: Paved
Road Access Type: Alley
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity; Cable TV
Source of Fincl Data: Owner
Lockbox Type: None
Existing 1st Loan: Private
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
Listing Office: Grace CRE
Last Updated: May - 04 - 2026
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