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    127 W Highland Avenue

    Phoenix, AZ 85013
    • $1,300,000
    • STATUS: Active
    • ID#: 6236212
    UPDATED: 76 min ago
    $1,300,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1950
    County:
    Area:

    School Ratings & Info

    Description

    Tenant occupied must contact owner (private remarks) for showings, please do not disturb tenants. Huge Central Phoenix family home with two separate income producing apartments to help pay the mortgage! Unique Central Phoenix complex with a very large family home and two separately metered independent apartment units totaling 4,973 square feet of livable space in the historic Pierson Place neighborhood. Centrally located just southwest of the Central Avenue and Camelback between the Uptown and Melrose districts, this lovely property with off street parking and a parklike backyard provides walkable access to great retail, bars and restaurants, two light rail stations, Brophy, Xavier and Central High School as well as the Central Phoenix bike path and thenewly redesigned Phoenix Grand Canal. The house and grounds have original character that is seldom found in Phoenix, including Saltillo tile floors. The large family home is approximately 3,679 square feet and is currently being rented by an artist community for $2,800 per month, which is well below the estimated market rate of $5,000 per month. As depicted in the attached floor plan, the two-story building has five bedrooms and a large art studio. The ground floor has a nice family room with original working beehive fireplace, large dining area, a private office and a kitchen with a breakfast bar. Four of the five bedrooms are on the ground floor with two functioning as dual master bedrooms with en-suite bathrooms and plenty of closet space. The two smaller bedrooms, one of which has a private exterior entrance are adjacent with a shared hallway bathroom. The second floor consists of the huge completely remodeled bedroom with fireplace, a bathroom and a light filled art studio complete with a sleeping loft. The second floor can be accessed via an interior stairway as well as an exterior stairway with a private landing and sitting area. For the entrepreneurial owner, the second floor could easily be converted into a separate one-bedroom apartment or two studio apartments. There is a beautiful private gated patio area on the east side leading to the outside stairwell for the art studio and upstairs bedroom. Just off the patio is a large, covered breezeway with work benches, an area with the washer/dryer, an extra refrigerator and the hot water heater. The breezeway is a perfect spot for bike, toys and tool storage. The complex includes two 640 square foot one-bedroom one-bath apartment units with a separate private entrance on the west side of the property. These units have been remodeled with stainless steel appliances, quartz countertops, ceiling fans in living room and bedrooms and lots of natural light. Both units have new washer/dryers and have been continually occupied for many years. Each unit has two designated parking spots. The tenants love being able to walk to their favorite haunts including Fame, Lux, AJ's, Windsor, Postino and The Bonus Room. Unit A in the front portion of the building with a private 2nd floor patio on Highland and is currently rented for $1,200.00 per month. Tenant pays their own utility bills including cable. Unit B faces the beautiful backyard and rents for $1,150.00 per month. The backyard is framed by mature vegetation including a beautiful bougainvillea and large bay leaf tree. It has a multiple raised gardening beds and a beautiful running water fountain creating an oasis like setting in the middle of a large metropolitan area. The site includes up to eleven off street red brick paver parking spots. The entire complex is currently occupied so tours will be limited to qualified parties only and will be arranged through the owner.

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    © 2021 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 AZ Power Team | Realty One Group Integrity. Data last updated 2021-07-26T21:12:20.217.
    www.tucsonrealestate.net/homes/117256262
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    127 W Highland Avenue Phoenix, AZ 85013

    • Price: $1,300,000
    • Status: Active
    • Updated: 76 min ago
    • ID#: 6236212
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    1950
    Built
    Neighborhood:
    Suburban Acres
    County:
    Maricopa
    Area:
    Phoenix
    School District:
    001 - Phoenix Elementary District
    Property Description
    Tenant occupied must contact owner (private remarks) for showings, please do not disturb tenants. Huge Central Phoenix family home with two separate income producing apartments to help pay the mortgage! Unique Central Phoenix complex with a very large family home and two separately metered independent apartment units totaling 4,973 square feet of livable space in the historic Pierson Place neighborhood. Centrally located just southwest of the Central Avenue and Camelback between the Uptown and Melrose districts, this lovely property with off street parking and a parklike backyard provides walkable access to great retail, bars and restaurants, two light rail stations, Brophy, Xavier and Central High School as well as the Central Phoenix bike path and thenewly redesigned Phoenix Grand Canal. The house and grounds have original character that is seldom found in Phoenix, including Saltillo tile floors. The large family home is approximately 3,679 square feet and is currently being rented by an artist community for $2,800 per month, which is well below the estimated market rate of $5,000 per month. As depicted in the attached floor plan, the two-story building has five bedrooms and a large art studio. The ground floor has a nice family room with original working beehive fireplace, large dining area, a private office and a kitchen with a breakfast bar. Four of the five bedrooms are on the ground floor with two functioning as dual master bedrooms with en-suite bathrooms and plenty of closet space. The two smaller bedrooms, one of which has a private exterior entrance are adjacent with a shared hallway bathroom. The second floor consists of the huge completely remodeled bedroom with fireplace, a bathroom and a light filled art studio complete with a sleeping loft. The second floor can be accessed via an interior stairway as well as an exterior stairway with a private landing and sitting area. For the entrepreneurial owner, the second floor could easily be converted into a separate one-bedroom apartment or two studio apartments. There is a beautiful private gated patio area on the east side leading to the outside stairwell for the art studio and upstairs bedroom. Just off the patio is a large, covered breezeway with work benches, an area with the washer/dryer, an extra refrigerator and the hot water heater. The breezeway is a perfect spot for bike, toys and tool storage. The complex includes two 640 square foot one-bedroom one-bath apartment units with a separate private entrance on the west side of the property. These units have been remodeled with stainless steel appliances, quartz countertops, ceiling fans in living room and bedrooms and lots of natural light. Both units have new washer/dryers and have been continually occupied for many years. Each unit has two designated parking spots. The tenants love being able to walk to their favorite haunts including Fame, Lux, AJ's, Windsor, Postino and The Bonus Room. Unit A in the front portion of the building with a private 2nd floor patio on Highland and is currently rented for $1,200.00 per month. Tenant pays their own utility bills including cable. Unit B faces the beautiful backyard and rents for $1,150.00 per month. The backyard is framed by mature vegetation including a beautiful bougainvillea and large bay leaf tree. It has a multiple raised gardening beds and a beautiful running water fountain creating an oasis like setting in the middle of a large metropolitan area. The site includes up to eleven off street red brick paver parking spots. The entire complex is currently occupied so tours will be limited to qualified parties only and will be arranged through the owner.
    Exterior Features

    Construction Adobe Construction Finish PaintedStucco Covered Parking Spaces 0.00 Lot Size Dimensions 71' X 126' Parking <1 Space Per UnitAttachedStreet Parking Roads Asphalt Roofing Comp ShingleFoamTile

    Interior Features

    1 Bedroom Unit Avg Sq Ft 630 1 Bedroom Unit Baths 1 2 Bedroom Unit Avg Sq Ft 0 2 Bedroom Units Baths 0 3 Bedroom Unit Avg Sq Ft 0 3 Bedroom Unit Baths 0 4 Bedroom Unit Avg Sq Ft 3710 4 Bedroom Unit Baths 4 Appliances Included Bi Oven/RangeDishwasherF/S Oven/RangeRefrigeratorWasher/Dryer Cooling Electric Refrigeratd Efficiency Unit Avg Sq Ft 0 Efficiency Unit Baths 0 Floors ConcreteOther (See Remarks) Heating Gas

    Property Features

    1 Bedroom Unit Avg Rent 1250.00 1 Bedroom Units 2 2 Bedroom Unit Avg Rent 0.00 2 Bedroom Units 0 3 Bedroom Unit Avg Rent 0.00 3 Bedroom Units 0 4 Bedroom Unit Avg Rent 3500.00 4 Bedroom Units 1 Adjusted Gross Inc 72000.00 Annual Ownr Asoc Fee 0.00 Community Amenities No Pool Cross Street Central Ave And Camelback Rd Efficiency Unit Avg Rent 0.00 Efficiency Units 0 Electric Aps Gas Sw Gas Gross Annual Sch Inc 72000.00 Hoa YN No Net Operating Income 58000.00 New Financing 1031 ExchangeConventionalOther (See Remarks) Operating Exp 4472.00 Other Income 0.00 Other Type House + Rental UnitsOther (See Remarks) Owner Pays ElectricLandscapingSee RemarksSewerTrash CollectionWater Project Type Tri-Plex Sale Includes Land & BuildingLaundry EquipmentOther (See Remarks) Sewer Sewer - Public Source Of Financial Data Projected ProformaProvided By Owner Tax Municipality Maricopa - County Taxes 4472.00 Tenant Pays Cable TvGasOther (See Remarks) Vacancy Allowance 0.00 Water City Franchise Zoning R-3

    Listing courtesy of Homesmart.


    © 2021 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 AZ Power Team | Realty One Group Integrity. Data last updated 2021-07-26T21:12:20.217.
     
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