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1337 E Polk Street

Phoenix, AZ 85006
  • $4,300,000
  • STATUS: Active
  • ON SITE: 53 Days
  • MLS #: 6327872
$4,300,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
2022
County:
Area:

Description

Polk Bungalows, a currently under construction, boutique 10-unit single family built to rent community situated on a one half acre parcel in Downtown Phoenix, Arizona. This one-of-a-kind property featuring tastefully designed, modern architecture by Aaron Bass of Stance Architecture is located in the rapidly gentrifying historic district of Garfield, minutes away from and 1 mile walking distance to both Downtown Phoenix and nationally recognized Roosevelt Row Arts District - contributing to a high rental demand and strong tenant base for this vibrant urban infill location.The property consists of a single freestanding 1,378 square foot historic house originally built in 1900 offering 2 bedrooms and 2 baths, and currently being rebuilt from the inside out with modern amenities and high end finishes, as well as 9 modern and sleek casita bungalows offering 1 bedroom 1.5 bath spacious floor plans with 884 square feet. Polk Bungalows will provide an attractive and coveted urban rental experience with unique architectural features of: expansive floor to ceiling windows and doors, ground concrete floors, modern finishes and fixtures throughout, vegetation walls, and private patio spaces. Construction is scheduled to be completed by the end of February 2022, with the property manager set to begin pre-leasing in January 2022.

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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 D & R Realty LLC. Data last updated 2022-01-26T00:14:01.34.
www.pottersazhomesearch.com/homes/123711631
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1337 E Polk Street Phoenix, AZ 85006

  • Price: $4,300,000
  • Status: Active
  • On Site: 53 Days
  • MLS #: 6327872
0
Beds
0
Baths
0
½ Baths
N/A
Acres
2022
Built
County:
Maricopa
Area:
Phoenix
Elementary School:
Kenilworth Elementary School
Middle School:
Whittier Elementary School - Phoenix
High School:
Central High School
School District:
001 - Phoenix Elementary District
Property Description
Polk Bungalows, a currently under construction, boutique 10-unit single family built to rent community situated on a one half acre parcel in Downtown Phoenix, Arizona. This one-of-a-kind property featuring tastefully designed, modern architecture by Aaron Bass of Stance Architecture is located in the rapidly gentrifying historic district of Garfield, minutes away from and 1 mile walking distance to both Downtown Phoenix and nationally recognized Roosevelt Row Arts District - contributing to a high rental demand and strong tenant base for this vibrant urban infill location.The property consists of a single freestanding 1,378 square foot historic house originally built in 1900 offering 2 bedrooms and 2 baths, and currently being rebuilt from the inside out with modern amenities and high end finishes, as well as 9 modern and sleek casita bungalows offering 1 bedroom 1.5 bath spacious floor plans with 884 square feet. Polk Bungalows will provide an attractive and coveted urban rental experience with unique architectural features of: expansive floor to ceiling windows and doors, ground concrete floors, modern finishes and fixtures throughout, vegetation walls, and private patio spaces. Construction is scheduled to be completed by the end of February 2022, with the property manager set to begin pre-leasing in January 2022.
Exterior Features

Construction BlockFrame - Wood Construction Finish PaintedStucco Covered Parking Spaces 10.00 Exterior Amenities Desert LandscapingLandscape Wtr SystemPartially FencedPatio/Balcony Lot Size Dimensions 200' X 109' Parking >1 Space Per Unit1 Space/UnitAssignedCarportStreet Parking Roads Asphalt Roofing Comp ShingleMetal

Interior Features

1 Bedroom Unit Avg Sq Ft 885 1 Bedroom Unit Baths 15 2 Bedroom Unit Avg Sq Ft 1379 2 Bedroom Units Baths 2 3 Bedroom Unit Avg Sq Ft 0 3 Bedroom Unit Baths 0 4 Bedroom Unit Avg Sq Ft 0 4 Bedroom Unit Baths 0 Appliances Included DishwasherDisposalF/S Oven/RangeMicrowaveRefrigeratorWasher/Dryer Cooling ElectricHeat PumpIndividual Efficiency Unit Avg Sq Ft 0 Efficiency Unit Baths 0 Floors ConcreteVinyl Heating ElectricIndividual Interior Amenities Fire SprinklersFire/Smoke Alarm(S)

Property Features

1 Bedroom Unit Avg Rent 1895.00 1 Bedroom Units 9 2 Bedroom Unit Avg Rent 3000.00 2 Bedroom Units 1 3 Bedroom Unit Avg Rent 0.00 3 Bedroom Units 0 4 Bedroom Unit Avg Rent 0.00 4 Bedroom Units 0 Adjusted Gross Inc 237500.40 Annual Elec Exp 2000.00 Annual Ins Exp 3000.00 Annual Legal And Acctg 1000.00 Annual Maint Exp 6000.00 Annual Mgmt Exp 11911.00 Annual Other Expense 1250.00 Annual Ownr Asoc Fee 0.00 Annual Rplcmnt Rsrvs 200.00 Annual Wtr Swr Exp 8000.00 Community Amenities No PoolOther Cross Street 16th St & Van Buren St. Efficiency Unit Avg Rent 0.00 Efficiency Units 0 Electric Aps Gas None Gross Annual Sch Inc 240660.00 Hoa YN No Net Operating Income 190559.00 New Financing 1031 ExchangeConventionalNo CarryOther (See Remarks) Operating Exp 36673.00 Other Income 12000.00 Owner Pays LandscapingSewerTrash CollectionWater Project Type 5 - 12 Units Sale Includes Land & BuildingLaundry Equipment Sewer Sewer - PublicSewer-In & Connected Source Of Financial Data Projected Proforma Tax Municipality Phoenix Taxes 3312.00 Tenant Pays ElectricSewerTrashWater Vacancy Allowance 0.06 Water City FranchiseMaster Meter Zoning R-5Hp

Listing courtesy of Urban Luxe Real Estate.


© 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 D & R Realty LLC. Data last updated 2022-01-26T00:14:01.34.
 
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