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2502 N 29TH Place

Phoenix, AZ 85008
  • $580,000
  • STATUS: Closed
  • ON SITE: 46 Days
  • MLS #: 6329264
Sold - 01/03/2022
$580,000
SOLD - 01/03/2022
  • 5
    BEDS
  • 0.31
    ACRES
  • 4
    BATHS
  • 0
    1/2 BATHS
  • 2,450
    SQFT
  • $237
    $/SQFT
Neighborhood:
Type:
Single-Family Home
Built:
1945
County:
Area:

School Information

Description

RARE Rental Investment Opportunity in the heart of Camelback East & the desirable 85008 zipcode. This investment consists of 2 Single Family Detached homes along w/ a SEPARATE single story 2 Unit Duplex, all on an oversized lot/13,375 sqft. Majority of tenants do prefer Single Family detached or duplex properties such as these for greater autonomy, which allows for premium rents This is a large corner lot w/no shortage of parking on-site. See additional rental cap rates & proforma information (click on more) There is such flexibility with use of this property for multigenerational families living, office(s) for your work at home/home business, homeschooling/ or co-op areas, or as a value add fix/improve/flip even. Proximity to downtown Phx & accessibility to I-10/ the 51/and 202Freeways along with the areas strong economic landscape and established employment opportunities supplies an endless source of your target tenants. Just another bonus is being only minutes to Sky Harbor Airport, Tempe Marketplace, and ASU. Camelback East location is close to the Biltmore/ Arcadia areas but also provides access to a growing restaurant scene dispersed across Central Phoenix and Scottsdale providing one-of-a kind dining across all cuisine types. RENTAL Investment Information: Seller hasn't increased rents for over a decade so great value add opportunity with the current low rental home inventory. With actual current NOI at $31K (cap rate 5.16), & legitimate $43K (cap rate 7.16) proforma based on current comparable rents w/just some cleanup/maintenance & $58K (cap rate 9.67) w/just typical basic updating/upgrades.

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© 2022 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. The ARMLS logo indicates a property listed by a real estate brokerage other than Klaus Team Real Estate Solutions | Keller Williams Integrity First. Data last updated 2022-01-23T13:12:58.103.
www.klausteam.com/homes/123795831
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2502 N 29TH Place Phoenix, AZ 85008

  • Price: $600,000
  • Status: Closed
  • On Site: 46 Days
  • Updated: 38 min ago
  • MLS #: 6329264
5
Beds
4
Baths
0
½ Baths
0.31
Acres
2,450
SQFT
$237
$/SQFT
1945
Built
Neighborhood:
East Thomas Road Tract 2
County:
Maricopa
Area:
Phoenix
Elementary School:
Creighton Elementary School
Middle School:
Creighton Elementary School
High School:
Camelback High School
School District:
014 - Creighton Elementary District
Property Description
RARE Rental Investment Opportunity in the heart of Camelback East & the desirable 85008 zipcode. This investment consists of 2 Single Family Detached homes along w/ a SEPARATE single story 2 Unit Duplex, all on an oversized lot/13,375 sqft. Majority of tenants do prefer Single Family detached or duplex properties such as these for greater autonomy, which allows for premium rents This is a large corner lot w/no shortage of parking on-site. See additional rental cap rates & proforma information (click on more) There is such flexibility with use of this property for multigenerational families living, office(s) for your work at home/home business, homeschooling/ or co-op areas, or as a value add fix/improve/flip even. Proximity to downtown Phx & accessibility to I-10/ the 51/and 202Freeways along with the areas strong economic landscape and established employment opportunities supplies an endless source of your target tenants. Just another bonus is being only minutes to Sky Harbor Airport, Tempe Marketplace, and ASU. Camelback East location is close to the Biltmore/ Arcadia areas but also provides access to a growing restaurant scene dispersed across Central Phoenix and Scottsdale providing one-of-a kind dining across all cuisine types. RENTAL Investment Information: Seller hasn't increased rents for over a decade so great value add opportunity with the current low rental home inventory. With actual current NOI at $31K (cap rate 5.16), & legitimate $43K (cap rate 7.16) proforma based on current comparable rents w/just some cleanup/maintenance & $58K (cap rate 9.67) w/just typical basic updating/upgrades.
Exterior Features

Carport Spaces 0.00 Construction Frame - Wood Construction Finish Painted Covered Parking Spaces 0.00 Dwelling Styles Detached Exterior Features Patio Fencing Partial Fencing1 Partial Garage Spaces 0.00 Landscaping Gravel/Stone Back Pool None Pool Private No Pool Property Description East/West Exposure Roofing Comp Shingle Slab Parking Spaces 0.00 Spa None

Interior Features

Basement YN No Bedrooms Plus 5.00 Cooling Evaporative Cooling Dining Area Eat-In Kitchen Fireplace No Fireplace Flooring CarpetLinoleumTile Heating ElectricNatural GasWall/Floor Heat Interior Features No Interior Steps Interior Levels 1 Kitchen Features Cook Top GasRange/Oven Gas Laundry Gas Dryer HookupNoneOther Master Bathroom Other (See Remarks) Separate Den Office No Technology Highspd Intrnt Aval

Property Features

Assoc Rules Info None Association Fee Incl No Fees Builder Name Unknown Cross Street 32nd St & Thomas Dwelling Type Single Family - Detached Hoa YN N Horses N Land Lease Fee YN No New Financing CashConventional Ownership Fee Simple Pad Fee YN No Services City Services Sewer Sewer - Public Source Lot Sq Ft County Assessor Source Sq Ft County Assessor Special Listing Conditions N/A Tax Municipality Phoenix Tax Year 2021 Taxes 1541.00 Total Monthly Fee Equiv 0.00 Utilities SrpSw Gas Water City Water

Listing courtesy of Dpr Realty Llc.


© 2022 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. The ARMLS logo indicates a property listed by a real estate brokerage other than Klaus Team Real Estate Solutions | Keller Williams Integrity First. Data last updated 2022-01-23T13:12:58.103.
 
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