Gregory S Johnson

Seller says highest and best use to lot split into 3 half acre lots !- 1602 W. Olney Ave, Phoenix, AZ, 85041- 2-acre lot - Zoned R10 - one house per 10,000 sqft lot- Former fire damage property - Recently been scrapped - Water meter on site - use to be on septic tank - Access to water less that 50 yards away INFORMATION FROM SELLER:Active comps are at 1.2 - 1.7 mill for a product that is over 4,000 sq ft with over 12k lots- 8503 S 9th dr, phoenix az, - Active at 1.3 millSold comp at 1.7 mill sold 2 months ago that really helps substantiate the values for larger builds that will help new build projects to price out for us - 1009 W Ardmore rd., Phoenix, AZ, 85041- Call for Link to zoom pics (see the type of product that sold for 1.7 mill) numbers for build-out for 3 Lots20k lots with 4000 sqft houses (type of product I think should be built) Homes are worth 1.5 mill plus for resale Cost per lot (2 payoff notes) 160k a lot X 3 = 480k (Cost for the dirt) Cost for Infrastructure at 70k per lot X 3 = 210k Build out $200 sqft X 4000 sqft = 800k x 3 houses =2.4 mill Total cost (not including holding cost) = $3,090,000 List all 3 new builds for 1.5 mill X 3 = $4,500,000 Minus commissions and closing cost 7.5% X 4.5 mill = $337,500 (could use flat fee listing to low this expenses) Total profit: $4,500,000 - $3,090,000 - $337,500 = $1,072,500 Return on Cash: $1,072,500 / $3,090,000 = 34.7% ROI (cash on cash) Holding cost: $3,090,000 X 10% = $463,500k for 18-month Final ROI: $609,000 / $3,553,500 = 17% Cash on cash Final ROI Some May View ROI: 19.7% (if you don't add holding cost to cash basis)

YOU WON'T WANT TO MISS THIS. This is a must-see, Home has been meticulously remodeled, with most areas stripped to the studs and updated for both aesthetics and functionality. The heart of the home is a modern, sleek kitchen that seamlessly flows into a spacious 40-foot family room. This room overlooks an inviting in-ground pool as is and a charming entertaining area, complete with a majestic pecan tree.The property retains its original block garage with alley access, and benefits from an additional attached single-car garage. Inside, new tile flooring extends throughout the house, enhancing the clean, contemporary feel. The master suite boasts a unique reading nook with floor-to-ceiling windows, a serene retreat. There's a detached studio in the backyard. This has also been thoughtfully remodeled, with an emphasis on detail and quality. Throughout the home, upgraded fixtures add a touch of elegance and modernity. This home, with its careful renovations and stylish finishes, is truly an exceptional find.The expansive open living areas create a welcoming atmosphere, while the unique floor plan thoughtfully allocates ample privacy to all four bedrooms. This harmonious blend makes the home perfect for both everyday living and occasional gatherings, ensuring comfort and tranquility.

Who doesn't love a home with irrigation rights and no HOA? With irrigation rights it will be a breeze to maintain the grassy landscape w/mature beautiful trees! Fresh neutral paint, abundant natural light, ceiling lights, and wood-look tile flooring throughout enhanced the overall ambiance. The renewed kitchen boasts an SS gas range and ample wood cabinetry. Master bedroom has two closets w/mirror doors and an updated bathroom w/dual sinks & tiled step-in shower. PLUS! The new bonus room, has a brand new mini split in which can be converted to a 4th bedroom. Out the back, you have an open patio to relax or enjoy BBQ. Conveniently close to schools, shopping, restaurants, and freeways. Move-in ready!

THIS IS THE BEST TRI-LEVEL FLOORPLAN REMODELED FOR YOU BUYER AND READY FOR THEM TO MOVE IN**3BR UP W/2 BATHS**1BR,DEN,LAUNDRY,BATH DOWN**ACCESS TO THE BACK YARD FROM THE BASEMENT***PERGO FLOORS,FRESH CARPET,TILE IN ALL THE RIGHT PLACES, FRESH PAINT INSIDE AND OUT***BATHS REMODELED WITH NEW FIXTURES***ALL THIS AND A POOL TOO***SELLERS WOULD LIKE A QUICK CLOSE***PLEASE CALL 'TABBY' THE DOG BARKS AND THE OWNER WILL MOVE**DO NOT LET DOG OUT**PLEASE PRESENT CONDITIONAL APPROVAL

2 Bedrooms, 2 Full Bathrooms, Attached Double Car Garage, Family & Dining Room, Big Separate Living Room, Remodeled Kitchen (2016), Stove Top & Oven, Dishwasher, Built-in Microwave Seller says Solar lease has saved $4000 in electricity bills in past 7 years! Roof (Replaced 2010) New Energy-Efficient Windows Central AC/Heating (Replaced 2017) Ceiling Fans Throughout Home Front Door Security Screen Window Sunscreen Throughout All New Electrical Outlets & Switches Power Flush Toilets Hot Water Recirculation Pumps to both Bathrooms Front and Backyard Fully Landscaped Huge Patio Area with Sunscreens Covered Patio with Misting System Chipping & Putting Green Water Fountain & Fire Pit.

Buyer got cold feet! BOM! Reduced! Ready to show! Terrific Home! Spacious 3000+ sq ft, 4 or 5 bedrooms plus den, 3 bath home with 3 car garage in nice Rancho El Mirage neighborhood! This good condition home has it all! Great curb appeal, Pebble Tech pool, living, family, bonus rooms, formal dining, huge kitchen with pantry, upgraded cabinets and island, inside laundry room, north/south exposure, enormous master bedroom, and the list goes on. All this and a great location too! Next door to a greenbelt common area, also close to schools, shopping, parks, 303 and Rt 60. Also close to the incredible Surprise recreation campus including aquatic center, tennis courts, multi-use fields, spring training baseball field, community clubhouse and so much more. What a great place to call home!

Gregory S Johnson

About Gregory S Johnson

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Recent property sales & transaction history

6 properties

El Mirage

Family Home

$300,000 to $450,000

1,700 ft² to 2,600 ft²

Properties for sale by listing agent Gregory S Johnson

$519,900

$429,000

$445,000

$317,900

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Gregory S Johnson

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