1559 W MERCER Lane, Phoenix, AZ 85029 | 6432898 | HomeLogic Real Estate LLC

1559 W MERCER Lane $699,950


    1559 W MERCER Lane Phoenix, AZ 85029

    • 0 Beds
    • 0 Baths
    • MultiFamily
    • MLS# 6432898
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    Views: 12 Days On Site: 140

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    Property Details

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    ATTENTION BUYERS - Have you considered the investment strategy of an FHA purchase of a multi-unit building? ATTENTION INVESTORS - Ask us how to save hundreds on your monthly payment, seller is willing to participate in rate buydown and increase your ROI.This Fourplex has been very well maintained and has undergone many recent updates. All units are very spacious 2 bedrooms, 2 full bathrooms with a fireplace in all four! Both downstairs units have their own backyard & upstairs units have vaulted ceilings and private balconies! All appliances are landlord owned and convey with the property. The roof was replaced last year and the exterior was just painted last month. See documents tab for list of updated appliances and HVAC systems/components. 100% occupancy in this building with room to increase rates at renewal time. One unit is expiring in October which makes it ideal for a buyer needing to occupy or the next unit to see an increase in rent.

    • General Features
      • Community Amenities Pool
      • County Maricopa
      • Covered Parking Spcs 4.00
      • Cross Street 19th Ave & Peoria
      • Directions From 19th Ave and Peoria - South on 19th Ave, East on Saguaro to Muy Felices Community. Turn left (north) on 16th Ave, second building on the right.
      • Gas None
      • Marketing Name Muy Felices Casas
      • New Financing 1031 Exchange,Conventional,No Carry
      • Parking 1 Space/Unit,Carport,Free,Paved Parking
      • Project Type Four Plex
      • Roofing Foam,Tile
      • Special Listing Conditions Accept Backups (CLO)
      • Subdivision MUY FELICES CASAS LT 1-20 TR A-G
      • Tax Municipality Phoenix
      • Taxes $1,711
      • Total Units 4.00
      • Year Built 1984
      • Zoning R3A
    • Building Features
      • Construction Frame - Wood
      • Appliances Included Dishwasher,Disposal,F/S Oven/Range,Microwave,Refrigerator,W/D Hookup,Washer/Dryer
      • Floors Carpet,Ceramic Tile
      • Cooling Ceiling Fan(s),Central A/C,Electric
      • Heating Central,Electric
      • Interior Amenities Fire/Smoke Alarm(s),Mini Blinds
    • Room Features
      • # 1 Bedroom Units 0
      • 1 Bedroom Units: Avg Rent 0.00
      • 1 Bedroom Units: Avg SqFt 0
      • 1 Bedroom Units: # Baths 0
      • # 2 Bedroom Units 4
      • 2 Bedroom Units: # Baths 2
      • 2 Bedroom Units: Avg Rent 1150.00
      • 2 Bedroom Units: Avg SqFt 807
      • # 3 Bedroom Units 0
      • 3 Bedroom Units: Avg SqFt 0
      • 3 Bedrooms Units: # Baths 0
      • 3 Bedrooms Units: Avg Rent 0.00
      • # 4 Bedroom Units 0
      • 4 Bedrooms Units: # Baths 0
      • 4 Bedrooms Units: Avg Rent 0.00
      • 4 Bedroom Units: Avg SqFt 0
    • Property Features
      • Efficiency Units: # Efficiency Units 0
      • Efficiency Units: # Baths 0
      • Efficiency Units: Avg SqFt 0
      • Efficiency Units: Avg Rent 0.00
      • Legal Info: Township 19
      • Tenant Pays Cable TV,Electric
      • Owner Pays Sewer,Trash Collection,Water
      • Income & Expenses: Net Operating Income 37336.00
      • Income & Expenses: Gross Annual Sch Inc 55200.00
      • Income & Expenses: Adjusted Gross Inc 55200.00
      • Legal Info: Range 3E
      • Legal Info: Lot Number 17
      • Total Parking Space 8.00
      • Electric APS
      • Sewer Sewer - Public,Sewer-In & Connected
      • Water City Franchise,Master Meter
    • Schools
      • Elementary School Shaw Butte School
      • High School Greenway High School
      • Middle School Mountain Sky Middle School
      • School District 205 - Glendale Union High School District



    85029 (Phoenix) Demographics

    36 Median Age
    4,962 Population Density (per sq. mile)
    33% College Educated
    $50,067 Estimated Median Income
    9,407 Estimated Total Home Owners
    8,479 Estimated Total Renters
    53% / 47% Estimated Owner / Renter Divide
    3 Estimated Average Household Size
    47,541 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $334,500 Median Sales Price
    26 Homes Sold
    39 New On Market

    Average Days on Site

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- Current Price Source: Multiple Listing Service New Value: $699,950
        11/23/2022 2:39:10 PM Status Changed Source: Multiple Listing Service New Value: Pending
        8/26/2022 4:09:26 PM Status Changed Source: Multiple Listing Service New Value: Active
        8/13/2022 11:24:06 AM Status Changed Source: Multiple Listing Service New Value: UCB (Under Contract-Backups)
        7/12/2022 7:42:00 PM New in Database Source: Multiple Listing Service New Value: $699,950

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        ** Assumes 3.5% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.
        Copyright 2022 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Data last updated 11/29/2022 10:05:41 AM. The ARMLS logo indicates a property listed by a real estate brokerage other than HomeLogic Real Estate LLC.

        All information should be verified by the recipient and none is guaranteed as accurate by ARMLS

        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.