This one-of a-kind Central Phoenix property, with 2 (Plus partial building of a third) houses on a large lot, was sold at a highest bidder sale on September 25, 2016. SOLD for $349,000 and fell out of escrow due to buyer messing up their credit. Must sell now! This is your opportunity to own a private retreat that feels like the country, right in the center of Phoenix, with a double-sized lot and 2 separately metered homes. There are no other properties like it in the area! This is your chance to pick up a great income producing property way below market. INSTANT cash flow!
CASH Investor Special: Only $250,000!
There are literally no other properties in the area with multiple homes on a double-sized lot!
An oasis in the desert, with a convenient location on a corner lot that is close to downtown, public transit, and both I-17 and I-10. Ride your bike to the downtown market or walk to a nearby coffee shop for a latte. The lot is one of only 6 parcels in the Encanto West subdivision that has flood irrigation, which creates a cooling micro-climate with dozens of large shade trees, including many producing fruit trees. Among the produce are apples, peaches, plums, pears, cherries, nectarines, a large variety of citrus, rare pomegranates, bananas, guavas, sugar cane, heirloom pecans, and 3 different types of olive trees. There are also garden beds, herbs, and timber bamboo. A mature oleander hedge on the west fence of the property provides afternoon shade and privacy.
The enormous lot is over half an acre!
Pause the video below to study photos or read text: It was originally sold at $349,000 for a quick sale and fell out of escrow due to buyer issues a week before closing. ALL preliminary docs (title report, home inspection, etc) are in place and ready for a quick close with a new CASH buyer. Investor special $250,000!
Currently, there is a main house of 1624 sf, 2 bedrooms & 1 bathroom with a separate dining room and large sun-room with indoor laundry area.The second house is about 800 sf and has 2 bedrooms & 1 bathroom with its own entrance to the second room so it could be a home office. A third building has about 600 sf and has been used as an office and has 2 rooms, AC unit, all electrical and some plumbing. It is ready to be finished out with kitchen & bathroom and could become a third home for rental income or family compound. There is one covered carport a large driveway that has room for parking.multiple cars, an RV, boat, or other vehicles. On street parking is also available. The entire property is fenced with a low chain link and 2 gates – one for pulling a vehicle into the yard when needed.
The main house has a shaded front porch that spans the entire length of the home. There is also a sun room (Arizona Room) across the back of the house, with laundry area inside. The sun room is tile, as is the bathroom. The rest of the house is solid hardwood flooring with laminate over the wood in the kitchen. Custom tile work is in the bathroom shower and the kitchen counter tops. The entire property, both homes, which were originally built in 1936, were completely remodeled in 2008. A new 30 year roof was installed 5 years ago. The walls are made of solid wood planks. An historic designation is possible, but more value could be achieved by subdividing the lot into 2 parcels. Being on an arterial and main street, and separate from the subdivision, make it a good candidate for commercial zoning variance also.
The options available for this unique property are endless!
- With the three homes, it is perfect for a family compound.
- Rent the homes out for easy positive cash flow. The main house rental value is $1500/month, $800 for the smaller house, and estimated at $600 for the third unit when completed. Rental ads have produced dozens of responses the first day due to the convenient location and allure of the property. Money in your pocket, even after mortgage payment and expenses.
- Another option is to create a personal or income producing “urban farm”. Sell the produce at the local market and there is plenty of room for chickens. I had a dozen hens here for the past 7 years that provided all the eggs we could eat and more! The flood irrigation provides an inexpensive source of water. The fruit trees are now 3 – 5 years old and in full production.
- Self-sufficient home in the center of town. Besides growing and raising your own food, solar panels could be placed on all 3 roofs to provide electricity. There is an existing well that is ‘grandfathered’ because it was dug long before the property was annexed into the city of Phoenix. It just needs a pump installed to be used.
- Pursue commercial zoning and be in a prime location to start a business venture with high visibility. Restaurant, store, outdoor bar type establishments are becoming very popular and there are plenty of potential customers in the Encanto neighborhoods nearby.
The Property will be sold to the first CASH buyer at $250,000!
Value: $330,000-365,000.
Don’t miss this opportunity to own one of the most unique properties in Central Phoenix!!!
< Here is a recent comp at $367,000
The comp is only 2 blocks away and on a much smaller lot.
Our property is unique and there are no other properties nearby with 2 separately metered homes.
Add instant value by subdividing the lot and selling them individually!
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This property is being sold for cash ONLY
For more details call (602)316-6909
Address: 2245 W. Thomas Rd, Phoenix 85015