$2,125,000
Phoenix, AZ 85008
MLS# 6296086
Status: Closed
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Property Description
C H A R T E R O A K S is a eight-unit apartment community positioned in the heart of Camelback East offering a rapidly expanding dining scene underpinned by the established employment opportunities of Camelback, 44th Street, Phoenix Airport, & the Innovation Corridors. Charter Oaks maintains access to a strong economic landscape led by ±278,900 total employees housed across ±3,700 businesses including national names such as Wells Fargo,Freeport McMoRan, JPMorgan Chase, Honeywell, and Southwest Airlines. The property is further enhanced by its proximity to innovative healthcare initials including the highly anticipated Valleywise Health Medical Center expansion and a variety of new office developments such as Central Park and Astra that highlight the desirability of the area and its
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $2,125,000
Sold Price: $2,125,000
Status: Closed
List Date: 2021-09-16
Location, Tax & Legal
Assessor's Map #: 25
Legal Description (Abbrev): EAST THOMAS ROAD TR 3
Assessor's Parcel #: 96
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 111502
Taxes: 3185
Legal: LOT 133 EAST THOMAS ROAD TRACT 3 MCR 002525
Marketing Name: Charter Oaks
Map Code/Grid: P35
House Number: 2302
Compass: N
Street Name: 29TH
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85008
Zip4: 2044
Country: US
County Code: Maricopa
Subdivision: E THOMAS RD
Assessor Number: 120-25-096
Tax Year: 2021
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 3
Lot Size Dimensions: 98 x 134
Total # of Units: 8
Elementary School District: Creighton Elementary District
High School District: Phoenix Union High School District
Elementary School: Creighton Elementary School
Jr. High School: Creighton Elementary School
High School: Camelback High School
Year Built: 1965
Zoning: RES
Legal Info
Range: 3E
Section: 35
Township: 2N
Block: 2900
Lot Number: 133
Project Type
5 - 12 Units: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Tile: 1
Floors
Other: 1
Sale Includes
Land & Building: 1
Laundry Equipment: 1
Other (See Remarks): 1
Income & Expenses
Annual Ins Exp: 1800
Annual Land Lse Exp: 0
Annual Legal & Acctg: 2400
Annual Maint Exp: 3000
Annual Mgmt Exp: 6441
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 7504
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 2400
Annual Other Expense: 3000
Operating Exp: 29730
Other Income: 800
Vacancy Allowance: 0.06
Adjusted Gross Inc: 128780
Pmt & Rate Info
Cap Rate: 4.55
Equity: 2175000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Showing Notification Methods
Text: 1
Lockbox Type
None: 1
Community Features
No Pool: 1
Barbecue: 1
Heating
Individual: 1
Central: 1
Cooling
Ceiling Fan(s): 1
Central Air: 1
Electric: 1
Individual: 1
Exterior Amenities
Green Landscaping: 1
Desert Landscaping: 1
Fenced: 1
Curb(s) & Gutter(s): 1
Cable TV Available: 1
Sidewalk(s): 1
Security Light(s): 1
Interior Features
Unfurnished: 1
Fire/Smoke Alarm(s): 1
Vertical Blinds: 1
Mini Blinds: 1
Tenant Pays
Gas: 1
Electricity: 1
Cable TV: 1
Appliances Included
Dishwasher: 1
Microwave: 1
Refrigerator: 1
Free-Standing Range: 1
Washer/Dryer: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Irrigation: 1
Water Rights Grandfathered: 1
Master Meter: 1
Sewer
Sewer - Public: 1
Sewer-In & Connected: 1
Parking Features
Free: 1
On Street: 1
>1 Space Per Unit: 1
Paved: 1
Assigned: 1
Electric
SRP: 1
Individual Meter: 1
Gas
SW Gas: 1
Individual Meter: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
New Financing
No Carry: 1
1031 Exchange: 1
Special
Owner/Agent: 1
Accept Backups (CLO): 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
Other (See Remarks): 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 6
Avg Rent: 1350
Avg SqFt: 600
# Baths: 6
2 Bedroom Units
# 2 Bedroom Units: 2
Avg Rent: 1700
Avg SqFt: 800
# Baths: 2
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Cash
Closing Cost Split: Normal - N
Payment Type: Other
Buyer Concession to Seller: 0
Buyer Concession $/%: %
Seller Concession to Buyer: 0
Seller Concession $/%: %
Remarks Misc
Cross Street: E Oak Street
Directions: South on 32nd Street from Thomas Road to Oak Street; Right (W) on Oak Street to property. Located on NW corner of 29th Street & Oak Street.
Geo Lat: 33.473298
Geo Lon: -112.019712
Status Change Info
Off Market Date: 2021-11-14
Under Contract Date: 2021-11-14
Close of Escrow Date: 2022-02-28
Sold Price: $2,125,000
Income Expenses
Gross Annual Sch Inc: 136200
Net Operating Income: 99040
Property Features
Project Type: 5 - 12 Units
Construction: Block
Const - Finish: Painted
Roofing: Composition; Tile
Floors: Other
Sale Includes: Land & Building; Laundry Equipment; Other (See Remarks)
Community Features: No Pool; Barbecue
Exterior Amenities: Green Landscaping; Desert Landscaping; Fenced; Curb(s) & Gutter(s); Cable TV Available; Sidewalk(s); Security Light(s)
Interior Features: Unfurnished; Fire/Smoke Alarm(s); Vertical Blinds; Mini Blinds
Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Microwave; Washer/Dryer
Heating: Individual; Central
Cooling: Ceiling Fan(s); Electric; Individual; Central Air
Water Source: City Franchise; Water Rights Grandfathered; Irrigation; Master Meter
Sewer: Sewer - Public; Sewer-In & Connected
Electric: SRP; Individual Meter
Gas: SW Gas; Individual Meter
Parking Features: On Street; >1 Space Per Unit; Assigned; Free; Paved
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity; Gas; Cable TV
Source of Fincl Data: Owner
Special: Owner/Agent; Accept Backups (CLO)
Showing Notification Methods: Text
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
Existing 1st Loan Type: Not Applicable
Existing 1st Loan Terms: Not Applicable
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Loan Type: Not Applicable
Existing 2nd Loan Terms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Loan Type: Not Applicable
Existing 3rd Loan Terms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: No Carry; 1031 Exchange
Environmental: None
Supplements
economic strength. Charter Oak's position within Camelback East also affords the property access to a growing restaurant scene dispersed across central Phoenix & Scottsdale providing
one-of-a-kind dining opportunities across all cuisine types.Developed in 1961, Charter Oaks is comprised of a complementary mix of one- and two bedroom floor plans - all units averaging 650 square feet. All units have been fully renovated including in-suite laundry and large front patios.
Listing Office: Platinum Living Realty
Last Updated: April - 27 - 2026
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