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Sold on 12/07/2016

1040 E Fairmount Ave, Phoenix, AZ 85014

  • $440,000

    Last sold 12/07/2016 after 118 Days

  • 6

    bed

  • 4

    bath

Multi-family not for sale
80 homes bought nearby with Movoto recently

About 1040 E Fairmount Ave

Property type Multi-family
Neighborhood
Year built 1962
HOA fee $0/month
Property description
WOW!!! Value add opportunity in growing high demand location. Good rental unit mix in an east Phoenix location.Consist of block constructed buildings with pitched roofs. Property has covered and overflow parking and offers an on-site laundry. Units are individually metered for electricity. Hot water is provided by a central gas-fired water heater. Drive by only. All facts and figuers are approximate buyer verify MLS info.
Listed by
Listing Agent - Sophia J. Baron
Listing Office - Better Homes & Gardens Real Estate SJ Fowler
Source: ARMLS mls logo
MLS#5483586 • last updated 1 year ago
Movoto checked ARMLS for data 5 minutes ago
Overview
Cooling/AC Window/Wall Unit, Electric, Individual
Heating Individual, Heat Pump, Window/Wall Unit(s), Electric
MLS # 5483586
Type Multiple Dwellings
Status Closed
Property Tax 2423
Year Built 1962
Interior
Flooring Carpet, Concrete
Appliances Refrigerator
Exterior
Roof Composition
Construction Painted, Block
Parking Carport
# of Open Parking Spaces 8
# of Covered Spaces 6
Amenities / Utilities
Water Source City Franchise
Sewer/Septic Public Sewer
Location
Community Features No Pool
APN 118-03-026
Zoning R3
Multifamily Details
Total # of Units 8
Financial Data Source Projected Proforma
Expense: Maintenance 3500
Vacancy Allowance 0.05
Expense: Insurance 1500
Net Operating Income 33832
Gross Income 56498.4
Expense: Electric 3600
Expense: Fuel 1600
Expense: Other 2243
Expense: Trash 2500
Expense: Professional Management 1800
Expense: Water/Sewer 3000
Gross Scheduled Income 58272
Expense: Gardener 500
We are not permitted to show value estimates for this property.
  • Nov 2019
    mls logo MLS # 5980180
  • Nov 29, 2019 Sold
    $995,000 (+126.1%)
  • Dec 2016
    mls logo MLS # 5483586
  • Dec 7, 2016 Sold
    $440,000
  • Aug 11, 2016 Listed
    $440,000
  • 1040 E Fairmount Ave
    $440K
  • Encanto
    $539K
  • 85014
    $460K -17% y/y
  • Phoenix
    $474K -1% y/y
No chart available
Statistics calculated by Movoto

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3/10
Longview Elementary School
public Grades PK, K-8
Osborn Elementary District
4/10
Osborn Middle School
public Grades 7-8
Osborn Elementary District
3/10
North High School
public Grades 9-12
Phoenix Union High School District
8/10
Phoenix Coding Academy
public Grades 9-12
Phoenix Union High School District
Source: GreatSchools.org © 2026. All rights reserved.

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  • Real Estate
  • AZ
  • Maricopa County
  • Phoenix
  • 85014
  • 1040 E Fairmount Ave
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