5624 N 6TH Street, Phoenix, AZ 85012

$3,775,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $3,775,000 Last Modified: 2/16/2025

Overview

Description

5624-5646 N 6th St Renovated in 2020, The Madison boasts mid-century art deco style architecture modernized to fit the young professional tenant base the property now attracts. Given its location in the sought after Uptown Central Phoenix Corridor, its walking distance from some of Phoenix's hottest new restaurants, cafes and social spots and detailed scope of remodel, which includes almost $700,000 in total Capital Improvement costs, The Madison provides a remarkable opportunity for immediate value along with considerable future upside potential. Built in 1952 of block construction, pitched roofs, art deco windows and front and rear entryways, The Madison is a prime example of Phoenix historical architecture and charm reinvigorated to match today's market of multifamily.

Listing Details MLS# 6042037

Location, Tax & Legal

Map Code/Grid
N34
House Number
5624
Compass
N
Street Name
6TH
St Suffix
Street
City/Town Code
Phoenix
State/Province
AZ
Zip Code
85012
Zip4
1300
Country
US
County Code
Maricopa
Subdivision
CAMEL SQUARE
Assessor Number
162-35-021
Tax Year
2019

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
58,800
Year Built
1949
Uncvrd Parking Spcs
20
Total # of Units
18
# of Buildings
6
Zoning
R-3
Elementary School District
Madison Elementary District
High School District
Phoenix Union High School District
Elementary School
Madison Elementary School
Jr. High School
Madison Meadows School
High School
Central High School

Remarks Misc

Cross Street
7th St. & Bethany Home
Directions
South to Montebello. West to 6th St. South to property

Status Change Info

Off Market Date
2021-05-08
Under Contract Date
2021-02-22
Close of Escrow Date
2021-04-15

Legal Info

Township
2N
Range
3E
Section
17
Lot Number
22

More Information

1 Bedroom Units

# 1 Bedroom Units
11
Avg Rent
1295
Avg SqFt
628
# Baths
Yes

2 Bedroom Units

# 2 Bedroom Units
6
Avg Rent
1495
Avg SqFt
900
# Baths
Yes

3 Bedrooms Units

# 3 Bedroom Units
Yes
Avg Rent
1595
Avg SqFt
950
# Baths
2

Income Expenses

Net Operating Income
240759

Sold Info

Loan Type
Conventional
Loan Years
15
Payment Type
Fixed
Closing Cost Split
Normal - N
Buyer Concession $/%
$
Seller Concession $/%
$

Property Features

Project Type: 13 - 24 Units Construction: Block Const - Finish: Painted Roofing: Composition Floors: Vinyl; Wood Sale Includes: Land & Building Payment Includes: Principal Community Features: No Pool Exterior Amenities: Landscape Water System; Green Landscaping; Separate Storage Interior Features: Unfurnished Appliances Included: Built-In Range; Microwave Heating: Natural Gas Cooling: Individual Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: SW Gas Parking Features: Carport; <1 Space Per Unit; Paved Road Surface Type: Asphalt Owner Pays: Water; Trash Collection Tenant Pays: Water; Sewer; Trash Collection Source of Fincl Data: Owner Showing Notification Methods: Text; Email; Phone Call Existing 1st Loan: Conventional Existing 1st Loan Type: Not Applicable Existing 1st Loan Terms: Not Applicable Existing 2nd Loan: Other (See Remarks) Existing 2nd Loan Type: Not Applicable Existing 2nd Loan Terms: Not Applicable Existing 3rd Loan: Other (See Remarks) Existing 3rd Loan Type: Not Applicable Existing 3rd Loan Terms: Not Applicable Existing Othr Ln Trm: Not Applicable New Financing: Conventional; 1031 Exchange; Other (See Remarks) Environmental: None
IDX
Listing Office: Taylor Street Realty Services
Last Updated: February - 16 - 2025
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