$4,515,000
Phoenix, AZ 85006
MLS# 6298556
Status: Closed
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Property Description
THE CORONADO 19 is a newly renovated 19-unit multifamily complex with (2) Studios, (9) 1-Bedroom/1-Bath units and (8) 2-Bedroom/1-Bath units just outside the Coronado Historic District. Built in 1960, The Coronado 19 consists of approximately 13,300 sq ft of rental space. All units are fully renovated with new cabinets, granite countertops, flooring, stainless steel appliances, dual pane windows and in-suite washer/dryers. The property has been updated with all new electric panels and wiring, new sewer lines and plumbing. A new pool was installed that can be used year round. All units are individually metered for electricity. The property is centrally located in Phoenix with easy access to the 51 freeway. This property is within 5 miles of downtown phoenix, Arcadia, Biltmore, etc.
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $4,515,000
Sold Price: $4,515,000
Status: Closed
List Date: 2021-09-24
Location, Tax & Legal
Assessor's Map #: 13
Legal Description (Abbrev): LOT 15 BLOCK 9 MCDOWELL MANORS ANNEX MCR 003344
Assessor's Parcel #: 113
Assessor Parcel Ltr: A
Add'l Parcels: No
Tax Municipality: Maricopa - COUNTY
Census Tract: 111602
Taxes: 6282
Legal: LOT 15 BLOCK 9 MCDOWELL MANORS ANNEX MCR 003344
Marketing Name: The Coronado 19
Map Code/Grid: P35
House Number: 1707
Compass: N
Street Name: 18TH
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85006
Zip4: 2305
County Code: Maricopa
Subdivision: MCDOWELL MANORS ANNEX
Assessor Number: 117-13-113-A
Tax Year: 2021
General Property Description
# of Buildings: 3
Uncvrd Parking Spcs: 14
Lot Size Dimensions: 0.062
Total # of Units: 19
Elementary School District: Creighton Elementary District
High School District: Phoenix Union High School District
Elementary School: Excelencia School
Jr. High School: Phoenix Coding Academy
High School: North High School
Year Built: 1960
Zoning: R-4
Legal Info
Range: 3E
Section: 34
Township: 2N
Block: 9
Lot Number: 15
Project Type
13 - 24 Units: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Vinyl: 1
Sale Includes
Land & Building: 1
Personal Property: 1
Income & Expenses
Annual Elec Exp: 3958.82
Annual Gas Exp: 145.4
Annual Ins Exp: 8744
Annual Land Lse Exp: 0
Annual Landscape Exp: 5000
Annual Legal & Acctg: 0
Annual Maint Exp: 10000
Annual Mgmt Exp: 14820
Annual Trash Exp: 5422.4
Annual Wtr/Swr Exp: 5422.4
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 59795.02
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 255968.3
Pmt & Rate Info
Cap Rate: 1.67
Equity: 4600000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Phone Call: 1
Lockbox Type
None: 1
Community Features
Pool: 1
Barbecue: 1
Heating
Electric: 1
Individual: 1
Cooling
Electric: 1
Exterior Amenities
Patio/Balcony: 1
Tenant Pays
Electricity: 1
Cable TV: 1
Appliances Included
Free-Standing Range: 1
Refrigerator: 1
Dishwasher: 1
Disposal: 1
Microwave: 1
Washer/Dryer: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 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
Gas: 1
Trash Collection: 1
Landscaping: 1
Pool Maintenance: 1
New Financing
Conventional: 1
No Carry: 1
1031 Exchange: 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Reports/Disclosures
Seller Prop Disc Stm: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
# Efficiency Units: 2
Avg Rent: 879.28
Avg SqFt: 300
# Baths: 1
1 Bedroom Units
# 1 Bedroom Units: 9
Avg Rent: 1123.6
Avg SqFt: 700
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 8
Avg Rent: 1322.87
Avg SqFt: 800
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Conventional
Loan Years: 10
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: McDowell Rd & 16th St
Directions: Head east on E McDowell Rd, North on N 18th St. Property will be on the right at the corner of Coronado St & 18th St.
Geo Lat: 33.467194
Geo Lon: -112.043029
Status Change Info
Off Market Date: 2022-01-03
Under Contract Date: 2021-12-26
Close of Escrow Date: 2022-02-28
Sold Price: $4,515,000
Income Expenses
Gross Annual Sch Inc: 269440.32
Net Operating Income: 76607
Property Features
Project Type: 13 - 24 Units
Construction: Block
Const - Finish: Painted
Roofing: Composition
Floors: Vinyl
Sale Includes: Land & Building; Personal Property
Community Features: Pool; Barbecue
Exterior Amenities: Patio/Balcony
Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer
Heating: Individual
Cooling: Electric
Water Source: City Franchise
Sewer: Sewer - Public
Electric: APS
Gas: SW Gas
Parking Features: Carport; 1 Space/Unit
Owner Pays: Water; Gas; Trash Collection; Landscaping; Pool Maintenance
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 2nd Loan: Treat as Free&Clear
Existing 3rd Loan: Treat as Free&Clear
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional; No Carry; 1031 Exchange
Environmental: None
Listing Office: Urbanity Properties
Last Updated: March - 27 - 2025
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