3004 E Waltann Lane, Phoenix, AZ 85032 (MLS# 5934524)

3004 E Waltann Lane, Phoenix, AZ 85032

$660,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $660,000 Last Modified: 5/04/2026

Overview

Description

Paradise Park Estate is a fully rented 8 units in the heart of Phoenix. These apartments back up to a beautiful park. This property features 6 one bedroom one bath units and 2 two bedroom one bath units. Shared court yard for all units. All have central air and leased laundry equipment. Tenants pay for there own electric and owner has them for about 28 years. Rents have not been raised in years currently from 450-550. A great value add opportunity. Drive by only tenants are unaware of sale. All facts figures are approximate buyer verify mls information

Listing Details MLS# 5934524

Location, Tax & Legal

Map Code/Grid
L35
House Number
3004
Compass
E
Street Name
Waltann
St Suffix
Lane
City/Town Code
Phoenix
State/Province
AZ
Zip Code
85032
Zip4
7900
Country
US
County Code
Maricopa
Subdivision
PARADISE PARK ESTATES AMD LOT 30
Assessor Number
214-37-033
Tax Year
2018
Assessor's Map #
37
Legal Description (Abbrev)
LOT 21 PARADISE PARK ESTATES AMD LOT 30 MCR 007637
Assessor's Parcel #
33
Add'l Parcels
No
Tax Municipality
Phoenix
Census Tract
103304
Taxes
1908
Legal
LOT 21 PARADISE PARK ESTATES AMD LOT 30 MCR 007637
Marketing Name
PARADISE PARK ESTATES

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
irr
Year Built
1983
Uncvrd Parking Spcs
12
Total # of Units
8
# of Buildings
2
Zoning
[R-3]
Elementary School District
Phoenix Elementary District
High School District
Phoenix Union High School District

Remarks Misc

Cross Street
Greenway & 30th ST
Directions
North to Waltann, east corner, ***Do not disturb Tenants**

Status Change Info

Off Market Date
2019-12-09
Under Contract Date
2019-10-21
Close of Escrow Date
2019-12-09

Legal Info

Township
3N
Range
3E
Section
2
Lot Number
21

More Information

Income Expenses

Gross Annual Sch Inc
66000
Net Operating Income
47289

1 Bedroom Units

# 1 Bedroom Units
6
Avg Rent
650
Avg SqFt
656
# Baths
Yes

2 Bedroom Units

# 2 Bedroom Units
2
Avg Rent
800
Avg SqFt
805
# Baths
Yes

Sold Info

Loan Type
Other
Loan Years
5
Payment Type
Interest Only
Closing Cost Split
Normal - N
Buyer Concession $/%
$
Seller Concession $/%
$
Buyer Concession to Seller
0
Seller Concession to Buyer
0

Project Type

5 - 12 Units
Yes

Other Type

Other (See Remarks)
Yes

Construction

Wood Frame
Yes

Const - Finish

Painted
Yes

Roofing

Composition
Yes

Floors

Vinyl
Yes
Carpet
Yes

Sale Includes

Land & Building
Yes
Other (See Remarks)
Yes

Income & Expenses

Annual Elec Exp
1275
Annual Gas Exp
0
Annual Ins Exp
2368
Annual Land Lse Exp
0
Annual Landscape Exp
500
Annual Legal & Acctg
0
Annual Maint Exp
5000
Annual Mgmt Exp
0
Annual Trash Exp
1000
Annual Wtr/Swr Exp
4500
Owner Association
No
Annual Ownr Asoc Fee
0
Annual PAD Fee
0
Annual Rplcmnt Rsrvs
0
Annual Other Expense
1908
Operating Exp
18459
Other Income
1200
Vacancy Allowance
0.05
Adjusted Gross Inc
63840
Total Monthly Rental Income
5500

Pmt & Rate Info

Cap Rate
6.76
Down Payment
0
Equity
699900
Down Payment %
0
Monthly Payments
0
Total Owed
0
Assessment Balance
0

Showing Notification Methods

Text
Yes
Email
Yes
Phone Call
Yes

Lockbox Type

None
Yes

Community Features

No Pool
Yes

Heating

Electric
Yes

Cooling

Electric
Yes

Tenant Pays

Electricity
Yes
Cable TV
Yes

Appliances Included

Dishwasher
Yes
Free-Standing Range
Yes

Road Surface Type

Asphalt
Yes

Source of Fincl Data

Projected Proforma
Yes

Water Source

City Franchise
Yes
Master Meter
Yes

Sewer

Sewer - Public
Yes

Parking Features

Free
Yes

Electric

APS
Yes

Gas

None
Yes

Owner Pays

Water
Yes
Sewer
Yes
Trash Collection
Yes
Landscaping
Yes

New Financing

Conventional
Yes

Existing 1st Loan

Private
Yes

Existing 1st Loan Type

Not Applicable
Yes

Existing 1st Loan Terms

Not Applicable
Yes

Existing 2nd Loan

Other (See Remarks)
Yes

Existing 2nd Loan Type

Not Applicable
Yes

Existing 2nd Loan Terms

Not Applicable
Yes

Existing 3rd Loan

Other (See Remarks)
Yes

Existing 3rd Loan Type

Not Applicable
Yes

Reports/Disclosures

Seller Prop Disc Stm
Yes

Existing 3rd Loan Terms

Not Applicable
Yes

Environmental

None
Yes

Existing Othr Ln Trm

Not Applicable
Yes

Efficiency Units

Avg Rent
0

3 Bedrooms Units

Avg Rent
0

4 Bedrooms Units

Avg Rent
0

Property Features

Project Type: 5 - 12 Units Other Type: Other (See Remarks) Construction: Wood Frame Const - Finish: Painted Roofing: Composition Floors: Vinyl; Carpet Sale Includes: Land & Building; Other (See Remarks) Community Features: No Pool Appliances Included: Free-Standing Range; Dishwasher Cooling: Electric Water Source: City Franchise; Master Meter Sewer: Sewer - Public Electric: APS Gas: None Parking Features: Free Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity; Cable TV Source of Fincl Data: Projected Proforma Showing Notification Methods: Text; Email; Phone Call Lockbox Type: None Existing 1st Loan: Private 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 Environmental: None
IDX
Listing Office: Grace CRE
Last Updated: May - 04 - 2026
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