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Sold on 10/07/2017

2302 E Michigan Ave, Phoenix, AZ 85022

  • $250,000

    Last sold 10/07/2017 after 62 Days

  • 4

    bed

  • 4

    bath

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

About 2302 E Michigan Ave

Property type Multi-family
Neighborhood
Year built 1983
HOA fee $0/month
Rental estimate
Property description
Rare opportunity to invest in a high profit-generating, hard-to-find, stand alone fourplex in North Phoenix. Area is experiencing tremendous growth (Starbucks, Costco, Panda Express, etc). All four units are 1 bed/1 bath and current rents are over $600 per month. Buyer can leave as is and collect rent OR qualify for an FHA loan and live in one unit while collecting rent from other three units. Essentially being paid to live for free. Property has 2 units per building, entirely fenced with gated access for security and privacy. Low maintenance landscaping and fresh paint/surfaced parking lot. All units have granite counter tops in kitchen, fresh paint, and tile floors. 100% Tenant occupied. **Do not disturb tenants.** Drive by only. No sign. Viewing after accepted offer.
Listed by
Listing Agent - Michael E Vallee
Listing Office - Weichert Realtors - Upraise
Source: ARMLS mls logo
MLS#5643093 • last updated 4 years ago
Movoto checked ARMLS for data 4 minutes ago
Overview
Cooling/AC Ceiling Fan(s), Individual
Heating Central, Heat Pump, Electric
MLS # 5643093
Type Multiple Dwellings
Status Closed
Property Tax 1244
Year Built 1983
Interior
Flooring Ceramic Tile
Appliances Free-Standing Range, Other, Disposal, Refrigerator, Washer/Dryer
Exterior
Roof Composition
Construction Painted, Stucco, Block
Parking Paved, Add'l Parking Avail, >1 Space Per Unit, On Street
# of Open Parking Spaces 6
Amenities / Utilities
Water Source Master Meter, City Franchise
Sewer/Septic Public Sewer
Location
Community Features No Pool
Elementary School Echo Mountain Primary School
Elementary School District Paradise Valley Unified District
Middle School Vista Verde Middle School
High School District Paradise Valley Unified District
High School North Canyon High School
APN 214-07-013-F
Zoning R3
Multifamily Details
Total # of Units 4
Expense: Operating 5805
Financial Data Source Owner
Expense: Maintenance 750
Expense: Insurance 1140
Net Operating Income 24195
Expense: Other 621
Expense: Trash 600
Expense: Water/Sewer 1200
Expense: Gardener 250
We are not permitted to show value estimates for this property.
  • Aug 2018
    mls logo MLS # 5795623
  • Aug 20, 2018 Sold
    $276,000 (-3.2%)
  • Jul 18, 2018 Listed
    $285,000 (+14.0%)
  • Oct 2017
    mls logo MLS # 5643093
  • Oct 5, 2017 Sold
    $250,000
  • 2302 E Michigan Ave
    $250K
  • Paradise Valley Village
    $625K -3% y/y
  • 85022
    $475K -7% y/y
  • Phoenix
    $465K -2% y/y
No chart available
Statistics calculated by Movoto

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1/10
Echo Mountain Primary School
public Grades PK, K-3
Paradise Valley Unified District
4/10
North Canyon High School
public Grades 8-12
Paradise Valley Unified District
Source: GreatSchools.org © 2026. All rights reserved.

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