1707 N 18TH Street, Phoenix, AZ 85006 (MLS# 6298556)

1707 N 18TH Street, Phoenix, AZ 85006

$4,515,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $4,515,000 Last Modified: 3/27/2025

Overview

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.

Listing Details MLS# 6298556

Location, Tax & Legal

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
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

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 0.062
Year Built: 1960
Uncvrd Parking Spcs: 14
Total # of Units: 19
# of Buildings: 3
Zoning: R-4
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

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.

Status Change Info

Off Market Date: 2022-01-03
Under Contract Date: 2021-12-26
Close of Escrow Date: 2022-02-28

Legal Info

Township: 2N
Range: 3E
Section: 34
Block: 9
Lot Number: 15

More Information

Income Expenses

Gross Annual Sch Inc: 269440.32
Net Operating Income: 76607

Efficiency Units

# Efficiency Units: 2
Avg Rent: 879.28
Avg SqFt: 300
# Baths: Yes

1 Bedroom Units

# 1 Bedroom Units: 9
Avg Rent: 1123.6
Avg SqFt: 700
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: 8
Avg Rent: 1322.87
Avg SqFt: 800
# Baths: Yes

Sold Info

Loan Type: Conventional
Loan Years: 10
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Buyer Concession to Seller: 0
Seller Concession to Buyer: 0

Project Type

13 - 24 Units: Yes

Construction

Block: Yes

Const - Finish

Painted: Yes

Roofing

Composition: Yes

Floors

Vinyl: Yes

Sale Includes

Land & Building: Yes
Personal Property: Yes

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: Yes

Lockbox Type

None: Yes

Community Features

Pool: Yes
Barbecue: Yes

Heating

Electric: Yes
Individual: Yes

Cooling

Electric: Yes

Exterior Amenities

Patio/Balcony: Yes

Interior Features

Unfurnished: Yes
Fire/Smoke Alarm(s): Yes
Mini Blinds: Yes

Tenant Pays

Electricity: Yes
Cable TV: Yes

Appliances Included

Dishwasher: Yes
Disposal: Yes
Microwave: Yes
Refrigerator: Yes
Free-Standing Range: Yes
Washer/Dryer: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

Carport: Yes
1 Space/Unit: Yes

Electric

APS: Yes

Gas

SW Gas: Yes

Owner Pays

Water: Yes
Sewer: Yes
Gas: Yes
Trash Collection: Yes
Landscaping: Yes
Pool Maintenance: Yes

New Financing

Conventional: Yes
No Carry: Yes
1031 Exchange: Yes

Existing 1st Loan

Treat as Free&Clear: Yes

Existing 1st Loan Type

Not Applicable: Yes

Existing 1st Loan Terms

Non Assumable: Yes

Existing 2nd Loan

Treat as Free&Clear: Yes

Existing 2nd Loan Type

Not Applicable: Yes

Existing 2nd Loan Terms

Not Applicable: Yes

Existing 3rd Loan

Treat as Free&Clear: Yes

Existing 3rd Loan Type

Not Applicable: Yes

Reports/Disclosures

Seller Prop Disc Stm: Yes

Existing 3rd Loan Terms

Not Applicable: Yes

Environmental

None: Yes

Existing Othr Ln Trm

Not Applicable: Yes

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

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 Interior Features: Unfurnished; Fire/Smoke Alarm(s); Mini Blinds 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 Road Surface Type: Asphalt 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 1st Loan Type: Not Applicable Existing 1st Loan Terms: Non Assumable 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; No Carry; 1031 Exchange Environmental: None

Listing Office: Urbanity Properties

Last Updated: March - 27 - 2025