$661,170
Phoenix, AZ 85015
MLS# 6135481
Status: Closed
1 / 25
Property Description
Welcome to Westwood Terrace Apartments. Centrally located near Encanto Park and schools. These two triplex's recently renovated. Recent updates are new paint, updated ,windows, kitchens and bathrooms, brand new fencing in front, washer and dryers hookups inside the units. Each triplex has it's own parcel of 9,800 lot's each. Also have covered parking for all the units. They can be purchased with residential financing or one commercial loan . This portfolio sale 1614/1608 W Osborn and must be purchased together for a total sales price 1,399,000. Current gross rents are below market at 6648 a month ($1,107) each unit, estimated 4.40% cap on current collection. Proforma rents are 8,400 a month ($1,399,) per unit estimated 5.50% cap on proforma rents.
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $661,170
Sold Price: $661,170
Status: Closed
List Date: 2020-09-21
Location, Tax & Legal
Assessor's Map #: 15
Legal Description (Abbrev): LOT 14 BLOCK 7 WESTWOOD TERRACE MCR 004616
Assessor's Parcel #: 72
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 110400
Taxes: 1505
Legal: LOT 14 BLOCK 7 WESTWOOD TERRACE MCR 004616
Marketing Name: WESTWOOD TERRACE
Map Code/Grid: P34
House Number: 1608
Compass: W
Street Name: OSBORN
St Suffix: Road
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85015
Zip4: 5882
Country: US
County Code: Maricopa
Subdivision: WESTWOOD TERRACE
Assessor Number: 110-15-072
Tax Year: 2020
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 3
Lot Size Dimensions: 9800
Total # of Units: 3
Elementary School District: Osborn Elementary District
High School District: Phoenix Union High School District
Elementary School: Encanto School
Jr. High School: Osborn Middle School
High School: Central High School
Year Built: 1952
Zoning: R-4
Legal Info
Range: 3E
Section: 30
Township: 2N
Block: 7
Lot Number: 14
Project Type
Tri-Plex: 1
5 - 12 Units: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Ceramic Tile: 1
Other: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 1200
Annual Land Lse Exp: 0
Annual Landscape Exp: 600
Annual Legal & Acctg: 0
Annual Maint Exp: 2000
Annual Mgmt Exp: 1980
Annual Trash Exp: 759
Annual Wtr/Swr Exp: 1170
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Operating Exp: 9214
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 47880
Total Monthly Rental Income: 4200
Pmt & Rate Info
Cap Rate: 5.54
Down Payment: 0
Equity: 699900
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Showing Notification Methods
Text: 1
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Natural Gas: 1
Cooling
Ceiling Fan(s): 1
Electric: 1
Exterior Amenities
Desert Landscaping: 1
Fenced: 1
Pet Restrictions: 1
Other (See Remarks): 1
Interior Features
Unfurnished: 1
Fire/Smoke Alarm(s): 1
Tenant Pays
Gas: 1
Electricity: 1
Cable TV: 1
Appliances Included
Dishwasher: 1
Disposal: 1
Refrigerator: 1
Built-In Range: 1
W/D Hookup: 1
Road Access Type
Alley: 1
Source of Fincl Data
Projected Proforma: 1
Water Source
Master Meter: 1
Sewer
Sewer - Public: 1
Parking Features
Carport: 1
1 Space/Unit: 1
Electric
APS: 1
Gas
SW Gas: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
Other: 1
See Remarks: 1
New Financing
VA: 1
Conventional: 1
FHA: 1
Existing 1st Loan
VA: 1
Conventional: 1
Treat as Free&Clear: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Non Assumable: 1
Interest Only: 1
Not Applicable: 1
Existing 2nd Loan
Other (See Remarks): 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Other (See Remarks): 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
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 3
Avg Rent: 1399
Avg SqFt: 926
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Other
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: 16th Ave & Osborn Rd.
Geo Lat: 33.488073
Geo Lon: -112.093964
Status Change Info
Off Market Date: 2021-02-26
Under Contract Date: 2021-02-25
Close of Escrow Date: 2021-04-15
Sold Price: $661,170
Income Expenses
Gross Annual Sch Inc: 50400
Net Operating Income: 38740
Property Features
Project Type: Tri-Plex; 5 - 12 Units
Construction: Block
Const - Finish: Painted
Roofing: Composition
Floors: Ceramic Tile; Other
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Desert Landscaping; Fenced; Pet Restrictions; Other (See Remarks)
Interior Features: Unfurnished; Fire/Smoke Alarm(s)
Appliances Included: Built-In Range; Refrigerator; Dishwasher; Disposal; W/D Hookup
Heating: Natural Gas
Cooling: Ceiling Fan(s); Electric
Water Source: Master Meter
Sewer: Sewer - Public
Electric: APS
Gas: SW Gas
Parking Features: Carport; 1 Space/Unit
Road Access Type: Alley
Owner Pays: Water; Trash Collection; Landscaping; Other; See Remarks
Tenant Pays: Electricity; Gas; Cable TV
Source of Fincl Data: Projected Proforma
Showing Notification Methods: Text
Lockbox Type: None
Existing 1st Loan: VA; Conventional; Treat as Free&Clear
Existing 1st Loan Type: Not Applicable
Existing 1st Loan Terms: Non Assumable; Interest Only; Not Applicable
Existing 2nd Loan: Other (See Remarks)
Existing 2nd Loan Type: Not Applicable
Existing 2nd Loan Terms: Not Applicable
Existing 3rd Loan: Other (See Remarks)
Existing 3rd Loan Type: Not Applicable
Existing 3rd Loan Terms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: VA; FHA; Conventional
Environmental: None
Supplements
All units have private yards. Super close to Phoenix College, near restaurants, and shopping.
Listing Office: Grace CRE
Last Updated: May - 04 - 2026
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