$4,300,000
1337 E Polk StreetPhoenix, AZ 85006
MLS# 6327872
11 beds | 137 baths
1 / 16
Property DescriptionPolk Bungalows, a currently under construction, boutique 10-unit single family built to rent community situated on a one half acre parcel in Downtown Phoenix, Arizona. This one-of-a-kind property featuring tastefully designed, modern architecture by Aaron Bass of Stance Architecture is located in the rapidly gentrifying historic district of Garfield, minutes away from and 1 mile walking distance to both Downtown Phoenix and nationally recognized Roosevelt Row Arts District - contributing to a high rental demand and strong tenant base for this vibrant urban infill location.
Details
Contract Info
Current Price: $4,275,000
List Price: $4,300,000
Status: Closed
List Date: 2021-12-02
Ownership: Fee Simple
Location, Tax & Legal
Map Code/Grid: Q34
House Number: 1337
Compass: E
Street Name: Polk
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85006
Country: US
County Code: Maricopa
Assessor Number: 116-25-174
Tax Year: 2021
General Property Description
Lot Size Dimensions: 200' x 109'
Year Built: 2022
Uncvrd Parking Spcs: 4
Total # of Units: 10
# of Buildings: 10
Zoning: R-5, HP
Flood Zone: No
Elementary School District: Phoenix Elementary District
High School District: Phoenix Union High School District
Elementary School: Kenilworth Elementary School
Jr. High School: Whittier Elementary School - Phoenix
High School: Central High School
Legal Info
Township: 1N
Range: 3E
Section: 4
Lot Number: 12
1 Bedroom Units
# 1 Bedroom Units: 9
Avg Rent: 1895
Avg SqFt: 885
# Baths: 15
2 Bedroom Units
# 2 Bedroom Units: 1
Avg Rent: 3000
Avg SqFt: 1379
# Baths: 2
Structure
Bedrooms Total: 11
Bathrooms Total: 137
Income & Expenses
Gross Annual Sch Inc: 240,660
Net Operating Income: 190,559
Contact Info
List Agent Home Phn: 602-793-2753
Sold Info
Loan Type: Conventional
Loan Years: 30
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Remarks Misc
Cross Street: 16th St & Van Buren St.
Directions: Wast on Van Buren, North on 14th St, West on Polk. Property on South side.
Geo Lat: 33.452351
Geo Lon: -112.05304
Status Change Info
Off Market Date: 2022-02-25
Under Contract Date: 2022-02-16
Close of Escrow Date: 2022-03-31
Sold Price: $4,275,000
Property Features
Project Type: 5 - 12 Units
Construction: Block; Wood Frame
Const - Finish: Painted; Stucco
Roofing: Composition; Metal
Floors: Concrete; Vinyl
Sale Includes: Land & Building; Laundry Equipment
Community Features: No Pool; Other
Exterior Amenities: Landscape Water System; Desert Landscaping; Partially Fenced; Patio/Balcony
Interior Features: Fire/Smoke Alarm(s); Fire Sprinklers
Appliances Included: Dishwasher; Disposal; Microwave; Refrigerator; Free-Standing Range; Washer/Dryer
Heating: Electric; Individual
Cooling: Electric; Heat Pump; Individual
Water Source: City Franchise; Master Meter
Sewer: Sewer - Public; Sewer-In & Connected
Electric: APS
Gas: None
Parking Features: Carport; On Street; 1 Space/Unit; >1 Space Per Unit; Assigned
Road Surface Type: Asphalt
Owner Pays: Water; Sewer; Trash Collection; Landscaping
Tenant Pays: Water; Sewer; Electricity; Trash Collection
Source of Fincl Data: Projected Proforma
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
New Financing: Conventional; No Carry; 1031 Exchange; Other (See Remarks)
Environmental: None
Listing Office: Urban Luxe Real Estate
Last Updated: July - 29 - 2024
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