3636 E VERDE Lane Phoenix, AZ $ 2,195,000
3636 E VERDE Lane
$ 2,195,000
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3636 E VERDE Lane

Phoenix, AZ, 85018
$ 2,195,000
Baths0.0

Monthly Estimate*

$ 14,589

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Studio

Multi-Family Home for sale in Phoenix, AZ

for $2,195,000. This home was built in 1955.

SELLER CARRYBACK! 3636 E Verde Phoenix is a charming and well-maintained 9-unit apartment building located in the sought-after neighborhood of Arcadia Lite in Phoenix, Arizona. This property offers a fantastic opportunity for both investors and tenants alike with its recent renovations and appealing amenities. One of the most significant updates to the property is the installation of new pipes, which ensures a reliable plumbing system for all the units. Additionally, a newer roof has been put in place, providing enhanced protection against the elements and reducing maintenance costs for the foreseeable future. The building's appeal is further enhanced by the inclusion of dual-pane windows in each unit. These windows not only improve energy efficiency but also minimize noise pollution, These windows not only improve energy efficiency but also minimize noise pollution, allowing tenants to enjoy a peaceful and comfortable living experience. Moreover, with the electric masts being raised, residents can benefit from a more reliable electrical supply, ensuring uninterrupted power to all units. The exterior of the property has not been overlooked in the renovations. New landscaping has been added, creating an inviting and visually appealing environment for the residents. Tenants can take advantage of well-maintained space to relax, socialize, or simply enjoy the outdoors. All nine units are currently fully occupied, indicating a strong demand for housing in this desirable location. This presents an excellent opportunity for the property owner to increase rental rates gradually, contributing to enhanced profitability and return on investment. For the convenience of the residents, the property boasts an on-site laundry room, making laundry chores a breeze. This amenity is highly valued by tenants, making it an attractive feature for prospective renters as well. Moreover, for additional income potential, the property offers a garage rental option. Tenants have the option to rent garages for extra storage space or to park their vehicles securely, providing an added incentive to choose this property as their home. Arcadia Lite is a popular neighborhood known for its unique blend of urban convenience and suburban charm. Residents of this area enjoy easy access to a variety of dining, shopping, and entertainment options, making it an enticing location for potential tenants. In conclusion, 3636 E Verde Phoenix is a well-maintained, fully occupied 9-unit apartment building with numerous attractive features, including new pipes, a newer roof, dual-pane windows, raised electric masts, new landscaping, on-site laundry facilities, and the option for garage rentals. Situated in the desirable Arcadia Lite neighborhood, this property offers excellent potential for rental income growth, making it an appealing investment opportunity in the Phoenix real estate market. Buyer to verify all facts and figures.

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Multi-Family Active

Price

$ 2,195,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

$ 2,622

Style

Multiple Dwellings

Year Built

1955

Town/City

Phoenix

County/Region

Maricopa

MLS | Web ID

6591677

Features
General
Sewer Sewer-In & Connected Public Sewer
Heating Individual Heat Pump
Cooling Individual Heat Pump Ceiling Fan(s)
Roof Composition
Zoning M-M
Construction Materials Painted Stucco Block Frame - Wood
Year Built 1955
Electric APS Individual Meter
Tenant Pays Electricity Cable TV
Township 2N
Tax Year 2023
Percent Ownership Fee Simple
Gross Income 154753.8
Community Features No Pool
County Maricopa
Net Operating Income 128423.0
Operating Expense 26223.0
Insurance Expense 3124.0
Property Type Multiple Dwellings
Attached Garage N
Subdivision Name OAKSHIRE
Garage Y/N Y
Status Active
Directions From 36th Street go east to 37th Street. Turn North to Verde. Property sits on the North East corner.
City Phoenix
Buyer Agent Compensation 3.00
Disclosures Other (See Remarks) Seller Prop Disc Stm APOD/Backup Avaible Sch of Personal Prop
View Y/N N
High School District Phoenix Union High School District
Open Parking Spaces 4.0
Total Units 9
Lot Size Square Feet 0.0
Carport Y/N N
Street Name VERDE
Tax Annual Amount 2622.0
Electric Expense 1092.0
Fuel Expense 425.0
Water Sewer Expense 2680.0
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Virtual Tour https://tours.arizonarealtours.com/2166218?idx=1
Days on Market 263
Standard Status Active
Occupancy Type Tenant
Elementary School District Creighton Elementary District
Tax Lot 8
Cap Rate 5.85
Buyer Agent Compensation Type %
New_sp_Financing_co_Conventional5 True
Ownership Fee Simple
Senior Community N
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Interior
Flooring Carpet Ceramic Tile
Air Conditioning Y/N Y
Heating Y/N Y
Street Suffix Lane
Electric On Property Y/N N
Total Baths 0
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Exterior
Parking Features Free Add'l Parking Avail >1 Space Per Unit Street Parking Common
Water Source City Franchise Master Meter
Total Parking 12.0
Lot Size Area 0.0
Number of Buildings 3
Spa N
Lot Dimensions irr
Lot Size Acres 0.0
Road Surface Type Asphalt Curb(s) & Gutter(s) Sidewalk(s)
Covered Spaces 8.0
Crops Included Y/N N
Open Parking Y/N N
Irrigation Water Rights Y/N N
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Internal Only
Street Number 1 3636
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* Excluded Features
List By
Gerchick Real Estate

Broker

Linda@justsoldit.com

Email

Affordability Calculator

$14,807
Per Month
99%
1%
0%
Monthly Principal & Interest
$14,589
Monthly Property Taxes
$219
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
4327165 Elementary School
4327058 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
4/11/2024$2,195,000 -12.02% Price Down
12/10/2023$2,495,000 -12.46% Price Down
11/2/2023$2,850,000 -3.39% Price Down
10/6/2023$2,950,000 -15.59% Price Down
8/14/2023$3,495,000 Listed Price

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3636 E VERDE Lane, Phoenix, AZ, 85018 is a Multi-Family Home for sale at $2,195,000. 3636 E VERDE Lane is a studio with 0.0 baths and was built in 1955. The property's zip code is 85018 which is in Phoenix, AZ