$745,000
$795,000
6.3%For more information regarding the value of a property, please contact us for a free consultation.
SOLD DATE : 10/30/2022
Key Details
Sold Price $745,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Windsor Square Historic District
MLS Listing ID 6452949
Sold Date 10/30/22
Maintenance Fees $1,950
Originating Board Arizona Regional Multiple Listing Service (ARMLS)
Year Built 1948
Annual Tax Amount $3,794
Tax Year 2021
Lot Dimensions 79' x 113'
Property Description
Central Market Duplex is a mid century 2 unit property with a prime location in the highly sought after Windsor Square Historic District of Uptown / North Central Phoenix, just a 10 minute drive from Downtown Phoenix. It is situated right off Central Avenue, steps from the countless shopping and dining options at the intersection of Central Avenue and Camelback Road
- which was recognized as the Metro Phoenix's ''Hottest Intersection'' by the Urban Land Institute in 2017. The location rates high on walkability and public transportation thanks to a Valley Metro Light Rail station a 1/3 of a mile to the south of the property. 15 E Oregon Ave features red brick masonry exteriors full of character, two units with 2 bedrooms 1 bathroom plans at 942 square feet each, as well as spacious private backyards giving the property more of a single family detached feel for residents. Current rents are well below market with significant upside possible upon lease renewals or with turnover of new tenants.
The property has been partially updated with one of the units showcasing stained concrete floors, a modern white kitchen with white appliances, subway tile backsplash and quartz countertops, bathroom updates with newer vanity and shower surround subway tile, and a new AC unit in 2020. The second unit is in a classic condition (with exception of the bathroom which was updated recently with a new vanity and fixtures) allowing for a new owner to capture more value upside in the property through more extensive updates to the interiors, as well as exterior enhancements to the property and private backyards.
It's prime location so close to many attractive hospitality options, and even adjacent to neighborhood restaurant Windsor + Churn, make it an appealing candidate for the short term vacation rental market targeting guests who are looking for a vibrant, walkable destination with abundant food and beverage options when visiting in the Phoenixarea.
Location
State AZ
County Maricopa
Community Windsor Square Historic District
Zoning R-3
Direction Head north along Central Ave, turn east on Oregon Ave. Property first residential lot on south.
Interior
Heating Natural Gas
Cooling Electric
Flooring Ceramic Tile, Concrete
Appliance F/S Oven/Range, Microwave, Washer/Dryer, W/D Hookup
Exterior
Garage 1 Space/Unit, Common
Community Features No Pool
Waterfront No
Roof Type Composition
Parking Type 1 Space/Unit, Common
Total Parking Spaces 4
Building
Sewer Sewer-In & Connected, Public Sewer
Water City Franchise, Master Meter, Individual Meter
Schools
Elementary Schools Madison Richard Simis School
Middle Schools Madison Meadows School
High Schools Central High School
School District Phoenix Union High School District
Others
Senior Community No
Tax ID 162-22-039-A
Acceptable Financing No Carry, Conventional, 1031 Exchange, FHA
Listing Terms No Carry, Conventional, 1031 Exchange, FHA
Financing Conventional
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