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Sold on 11/26/2020

9238 N 7th Ave, Phoenix, AZ 85021

  • $735,000

    Last sold 11/26/2020 after 183 Days

  • 5

    bed

  • 3

    bath

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

About 9238 N 7th Ave

Property type Multi-family
Neighborhood
Year built 1949
HOA fee $0/month
Property description
Income, Income, Income!!! Shangri-la is a high performing investment opportunity with immediate value-add upside. Buyer can add an additional $4,750-$5,350 of annual income by raising rents, charging for laundry and finishing out the RUBS program. Shangri-la sits just over half a mile away from HonorHealth John C. Lincoln Medical Center, a 266-bed, full service hospital and all the retail shops which support it. Just steps from Shangri-la are the Grand Canal and the North Mountain & Shaw Butte Trailheads, which provide miles of hiking and biking trails. Shangri-la provides strong cash flow with top of the market cap rates and all right in the heart of Phoenix's Central Corridor.
Listed by
Listing Agent - Zackarie Mishkin
Listing Office - Orion Investment Real Estate
Source: ARMLS mls logo
MLS#6085760 • last updated 1 year ago
Movoto checked ARMLS for data 7 minutes ago
Overview
Cooling/AC Ceiling Fan(s), Evaporative Cooling, Window/Wall Unit, Heat Pump, 2 Or More Units
Heating Individual, Heat Pump, Window/Wall Unit(s), 2 Or More Units, Electric, Natural Gas
MLS # 6085760
Type Multiple Dwellings
Status Closed
Property Tax 1887
Year Built 1949
Interior
Flooring Other, Vinyl
Appliances Free-Standing Range, Refrigerator, Microwave, Washer/Dryer
Exterior
Roof Composition
Construction Wood Frame, Painted, Stucco, Block
Parking >1 Space Per Unit, Carport
# of Open Parking Spaces 13
# of Covered Spaces 2
Amenities / Utilities
Water Source City Franchise
Sewer/Septic Public Sewer
Location
Subdivision FOOTHILL ACRES LOTS 33-48, 58-59
Community Features No Pool
Elementary School District Washington Elementary District
High School District Glendale Union High School District
APN 158-31-002
Zoning C-2
Directions Property Is Just South Of Hatcher On The West Side Of 7th Avenue.
Multifamily Details
Total # of Units 8
Expense: Operating 27697
Financial Data Source Projected Proforma, Books Shwn Accpt Ofr
Expense: Maintenance 4000
Vacancy Allowance 0.05
Expense: Insurance 1200
Net Operating Income 56879
Gross Income 84405.6
Expense: Electric 8211
Expense: Fuel 1139
Expense: Professional Management 4049
Expense: Water/Sewer 5411
Gross Scheduled Income 85248
Expense: Gardener 1800
We are not permitted to show value estimates for this property.
  • Nov 2020
    mls logo MLS # 6085760
  • Nov 26, 2020 Sold
    —
  • Nov 6, 2020 Listed
    —
  • Nov 5, 2020 Sold
    $735,000 (-1.7%)
  • Aug 31, 2020 Price Change
    $748,000 (-3.2%)
  • Jun 3, 2020 Listed
    $773,000 (+113.2%)
  • Oct 2018
    mls logo MLS # 5813076
  • Oct 16, 2018 Sold
    $362,500
  • Aug 28, 2018 Listed
    $362,500
  • 9238 N 7th Ave
    $735K
  • North Mountain
    $396K -4% y/y
  • 85021
    $629K 0% y/y
  • Phoenix
    $474K -1% y/y
No chart available
Statistics calculated by Movoto

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7/10
Sunnyslope High School
public Grades 9-12
Glendale Union High School District
Source: GreatSchools.org © 2026. All rights reserved.

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