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$10,000,000
4820 W Palo Verde Drive
Glendale, AZ 85301
MLS# 6425266



4820 W Palo Verde Drive, Glendale, AZ 85301
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4820 W Palo Verde Drive, Glendale, AZ 85301 4820 W Palo Verde Drive, Glendale, AZ 85301 4820 W Palo Verde Drive, Glendale, AZ 85301 4820 W Palo Verde Drive, Glendale, AZ 85301 4820 W Palo Verde Drive, Glendale, AZ 85301 4820 W Palo Verde Drive, Glendale, AZ 85301 4820 W Palo Verde Drive, Glendale, AZ 85301 4820 W Palo Verde Drive, Glendale, AZ 85301 4820 W Palo Verde Drive, Glendale, AZ 85301 4820 W Palo Verde Drive, Glendale, AZ 85301 4820 W Palo Verde Drive, Glendale, AZ 85301 4820 W Palo Verde Drive, Glendale, AZ 85301 4820 W Palo Verde Drive, Glendale, AZ 85301 4820 W Palo Verde Drive, Glendale, AZ 85301 4820 W Palo Verde Drive, Glendale, AZ 85301 4820 W Palo Verde Drive, Glendale, AZ 85301 4820 W Palo Verde Drive, Glendale, AZ 85301 4820 W Palo Verde Drive, Glendale, AZ 85301 4820 W Palo Verde Drive, Glendale, AZ 85301 4820 W Palo Verde Drive, Glendale, AZ 85301 4820 W Palo Verde Drive, Glendale, AZ 85301 4820 W Palo Verde Drive, Glendale, AZ 85301 4820 W Palo Verde Drive, Glendale, AZ 85301 4820 W Palo Verde Drive, Glendale, AZ 85301 4820 W Palo Verde Drive, Glendale, AZ 85301 4820 W Palo Verde Drive, Glendale, AZ 85301 4820 W Palo Verde Drive, Glendale, AZ 85301 4820 W Palo Verde Drive, Glendale, AZ 85301 4820 W Palo Verde Drive, Glendale, AZ 85301 4820 W Palo Verde Drive, Glendale, AZ 85301 4820 W Palo Verde Drive, Glendale, AZ 85301 4820 W Palo Verde Drive, Glendale, AZ 85301 4820 W Palo Verde Drive, Glendale, AZ 85301 4820 W Palo Verde Drive, Glendale, AZ 85301 4820 W Palo Verde Drive, Glendale, AZ 85301 4820 W Palo Verde Drive, Glendale, AZ 85301 4820 W Palo Verde Drive, Glendale, AZ 85301 4820 W Palo Verde Drive, Glendale, AZ 85301

Property Description
Villas West was built in 1984 and features 285 mostly townhome units situated on approximately 19-acres consisting of 57, two-story frame and stucco buildings. The property has flat and pitched tile roofs with individual air conditioning units and individual water heaters. The current offering is for 51 of the 285 total town home units. The community features some spectacular amenities including two sparkling swimming pools, tuck-under covered parking, spacious courtyards, and onsite management / HOA. Villas West offers spacious two- and three-bedroom loft and townhouse floor plans offering the largest units within the submarket.

Details
Maps
Contract Info
Current Price: $10,000,000
List Price: $10,000,000
Status: Active
List Date: 2022-06-13
Ownership: Fee Simple
Sub Agent $/%: %
Buyer/Broker: N
Location, Tax & Legal
Map Code/Grid: N32
House Number: 4820
Compass: W
Street Name: Palo Verde
St Suffix: Drive
City/Town Code: Glendale
State/Province: AZ
Zip Code: 85301
Country: USA
County Code: Maricopa
Subdivision: HALLCRAFT VILLAS WEST 8
Assessor's Map #: 1
Assessor's Parcel #: 9
Add'l Parcels: Yes
Assessor Number: 145-01-009
Legal: HALLCRAFT VILLAS WEST EIGHT TOG
Tax Municipality: Glendale
Taxes: 23807
Tax Year: 2021
Marketing Name: Villas West 8
General Property Description
Lot Size Dimensions: 1300' x 540'
Year Built: 1984
Uncvrd Parking Spcs: 51
Total # of Units: 51
# of Buildings: 10
Zoning: R-4
Elem School Dist #: 068 - Alhambra Elementary District
High School Dist #: 210 - Phoenix Union High School District
Remarks & Misc
Geo Lat: 33.523671
Geo Lon: -112.162936
Status Change Info
Status Change Date: 2022-06-28
Legal Info
Township: 2n
Range: 2e
Section: 16
Lot Number: 1111
Income & Expenses
Annual Elec Exp: 5000
Annual Ins Exp: 5100
Annual Legal & Acctg: 6000
Annual Maint Exp: 26000
Annual Mgmt Exp: 32252
Owner Association: Yes
Annual Ownr Asoc Fee: 119340
Annual Rplcmnt Rsrvs: 12750
Annual Other Expense: 1000
Operating Exp: 231249
Gross Annual Sch Inc: 838200
Other Income: 10000
Vacancy Allowance: 0.05
Adjusted Gross Inc: 805790
Net Operating Income: 575041
Pmt & Rate Info
Cap Rate: 5.75
Down Payment: 3000000
Down Payment %: 30
Monthly Payments: 37577.5
Equity: 10000000
2 Bedroom Units
# 2 Bedroom Units: 31
Avg Rent: 1055
Avg SqFt: 950
# Baths: 1
3 Bedrooms Units
# 3 Bedroom Units: 20
Avg Rent: 1160
Avg SqFt: 1098
# Baths: 2
Property Features
Project Type: 51 - 99 Units
Construction: Frame - Wood
Const - Finish: Stucco
Roofing: Tile; Foam
Floors: Ceramic Tile
Sale Includes: Building(s) Only
Payment Includes: Principal; Interest
Community Amenities: Pool
Exterior Amenities: Patio/Balcony
Appliances Included: F/S Oven/Range; Refrigerator; Dishwasher; Disposal; W/D Hookup
Heating: Individual
Cooling: Electric; Individual
Water: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: None
Parking: Carport
Roads/Streets: Asphalt
Owner Pays: None
Tenant Pays: Water; Sewer; Electric; Trash
Source of Fincl Data: Projected Proforma
New Financing: Conventional
Reports/Disclosures: None
Environmental: None
Supplements
Unit amenities include large private backyards, washer / dryer hook-ups, tile floors, and storage. The kitchens are electric with refrigerator, range, dishwasher, and disposal. Villas West is located in Glendale, situated on Bethany Home Road just west of 48th Avenue. Residents of Villas West enjoy suitable access to the entire Valley of the Sun as well as instantaneous submarket attractions, shopping, and demand generators, including: Grand Canyon University, Westgate and State Farm Stadium, and MetroCenter Mall. Loop 101, I-10, and I-17 Freeways: The Loop 101 Freeway runs north into Glendale, and then to the I-17 Black Canyon, which connects Phoenix to Sedona and Flagstaff, then to Scottsdale. Downtown Phoenix and Phoenix Sky Harbor Airport are a 15-minute drive from the property via I-10.