2000 N 36th Street, Phoenix, AZ 85008 (MLS# 5831544)

2000 N 36th Street, Phoenix, AZ 85008

$11,350,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $11,350,000 Last Modified: 9/21/2023

Overview

Description

Great infill location in Phoenix! Close to Biltmore Fashion Park, Phoenix Sky Harbor, ASU and much more. The Grove on Palm Lane consists of 42 townhome units that are all for-rent. The development consists of 42 two-story single-family homes comprised of 18 buildings of two semi-detached homes and six fully detached homes. There are 36 larger units of over 1,800 square feet with two-car garages and six units of over 1,600 square feet with a single car garage. The lot size is 49,500 square feet. The overall architecture of the exterior is a contemporary style and the interior has higher end finishes consisting of just under 10-foot main floor ceilings, maple/cherry cabinetry and larger trim for base and case. Construction now complete.

Listing Details MLS# 5831544

Location, Tax & Legal

Assessor's Map #: 15
Legal Description (Abbrev): LOT 1 GROVE ON PALM LANE MCR 133021
Assessor's Parcel #: 137
Add'l Parcels: Yes
Tax Municipality: Phoenix
Taxes: 0
Legal: Lots 1-42 Grove on Palm
Marketing Name: The Grove on Palm

Contract Info

Ownership: Fee Simple

General Property Description

# of Buildings: 18
Uncvrd Parking Spcs: 0
Lot Size Dimensions: 569' x 162'
Total # of Units: 42
Elementary School District: Creighton Elementary District
High School District: Phoenix Union High School District

Legal Info

Range: 3E
Section: 36

Project Type

25 - 50 Units: Yes

Construction

Block: Yes
Wood Frame: Yes

More Information

Const - Finish

Painted: Yes
Stucco: Yes

Roofing

Other: Yes

Floors

Ceramic Tile: Yes
Carpet: Yes

Sale Includes

Building(s) Only: Yes

Income & Expenses

Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 0
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 0
Annual Mgmt Exp: 0
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 0
Owner Association: Yes
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 0
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 0

Pmt & Rate Info

Down Payment: 12595800
Equity: 11600000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0

Community Features

No Pool: Yes

Heating

Other: Yes
See Remarks: Yes

Cooling

Other: Yes
See Remarks: Yes

Tenant Pays

Water: Yes
Sewer: Yes
Electricity: Yes
Trash Collection: Yes
Cable TV: Yes

Appliances Included

Other: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

Garage: Yes
On Street: Yes
Attached: Yes

Electric

SRP: Yes

Gas

Other (See Remarks): Yes

Owner Pays

Other: Yes
See Remarks: Yes

New Financing

Conventional: Yes

Existing 1st Loan

Treat as Free&Clear: Yes

Existing 1st Loan Type

Not Applicable: Yes

Existing 1st Loan Terms

Not Applicable: 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

Other (See Remarks): Yes

Existing 3rd Loan Terms

Not Applicable: Yes

Environmental

Other (See Remarks): Yes

Existing Othr Ln Trm

Not Applicable: Yes

Efficiency Units

Avg Rent: 0

1 Bedroom Units

Avg Rent: 0

2 Bedroom Units

Avg Rent: 0

3 Bedrooms Units

# 3 Bedroom Units: 42
Avg Rent: 1860
Avg SqFt: 18230
# Baths: 25

4 Bedrooms Units

Avg Rent: 0

Sold Info

Loan Type: Cash
Closing Cost Split: Normal - N
Payment Type: Other
Buyer Concession to Seller: 0
Buyer Concession $/%: %
Seller Concession to Buyer: 0
Seller Concession $/%: %

Listing Office: City to City Commercial

Last Updated: September - 21 - 2023