1337 E Polk Street, Phoenix, AZ 85006 (MLS# 6327872)

Project Type: 5 - 12 Units

Construction: Block; Wood Frame

Const - Finish: Painted; Stucco

Roofing: Composition; Metal

Floors: Concrete; Vinyl

Sale Includes: Land & Building; Laundry Equipment

Community Features: No Pool; Other

Exterior Amenities: Landscape Water System; Desert Landscaping; Partially Fenced; Patio/Balcony

Interior Features: Fire/Smoke Alarm(s); Fire Sprinklers

Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer

Heating: Individual

Cooling: Electric; Heat Pump; Individual

Water Source: City Franchise; Master Meter

Sewer: Sewer - Public; Sewer-In & Connected

Electric: APS

Gas: None

Parking Features: Carport; On Street; 1 Space/Unit; >1 Space Per Unit; Assigned

Road Surface Type: Asphalt

Owner Pays: Water; Trash Collection; Landscaping

Tenant Pays: Water; Sewer; Electricity; Trash Collection

Source of Fincl Data: Projected Proforma

Lockbox Type: None

Existing 1st Loan: Treat as Free&Clear

New Financing: Conventional; No Carry; 1031 Exchange; Other (See Remarks)

Environmental: None

The property consists of a single freestanding 1,378 square foot historic house originally built in 1900 offering 2 bedrooms and 2 baths, and currently being rebuilt from the inside out with modern amenities and high end finishes, as well as 9 modern and sleek casita bungalows offering 1 bedroom 1.5 bath spacious floor plans with 884 square feet. Polk Bungalows will provide an attractive and coveted urban rental experience with unique architectural features of: expansive floor to ceiling windows and doors, ground concrete floors, modern finishes and fixtures throughout, vegetation walls, and private patio spaces. Construction is scheduled to be completed by the end of February 2022, with the property manager set to begin pre-leasing in January 2022.