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$2,200,000

Beds
4
Baths
4.0
sq ft
3,915

118 East Palm Lane, Phoenix, AZ 85004

118 East Palm Lane

Phoenix, AZ 85004

  • 28 days on market
Own a piece of Phoenix history with the esteemed RA Cox House, a 1925 adobe by Hollywood architect C. Lewis Kelley. Situated next to the Alvarado historic district, and on the National Register of historic homes, this stunning Spanish Colonial shares her 20,000+ sf irrigated lot with numerous citrus, fig, Crepe Myrtle and palm trees. Complete with beamed ceilings, wood floors and restored windows, the home is timeless and elegant with fabulous entertaining spaces. The light-filled east-facing kitchen is a culinary dream, with Soapstone counters and Carrara marble island. The serene master suite comes complete with a spacious walk-in closet and recently renovated bath. French doors spanning the back of the home lead to the covered porch and oasis-like backyard, featuring a glass-tiled pool , mature landscape and raised-bed gardening area. Additional highlights include a temperature-controlled wine cellar with arched brick storage, high-capacity AC units, 2 car garage with additional storage area and reduced property taxes. This exceptional property offers a unique blend of history, luxury and tranquility.

Details

Property type

Single Family Residence

Est. home value

$1,649,192

Lot size

0.47 acres

Price per sq ft

$562

Year built

1925

Annual property taxes

$5,787

Price History

10/25/2024
ArizonaRegional

ArizonaRegional #6775423

Listed
$2,200,000
+109.52%
04/23/2018
ArizonaRegional

ArizonaRegional #5727147

Sold
$1,050,000

Schools & Community

Neighborhood: 

Encanto

Elementary school: 

Emerson Elementary School

Middle school: 

Phoenix Prep Academy

High school: 

North High School

High school district: 

Phoenix Union High School District

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$1,157,302
Asking price
$2,200,000
Closing costs (~8% of asking)
-$176,000
Est. remaining loan balance
-$866,698
Cash to seller
$1,157,302

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

V I P Mortgage Inc

Loan start date

February 2022

Original loan amount

$920,000

Est. remaining balance

$866,698

Interest rate

3.11%

Loan type

New Conventional, 30 year

Seller

Steven W Ortquist and Steven W Ortquist Living Trust

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

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Status: Active

Tomo last checked: 11/22/2024 at 3:50 AM

Listing updated: 10/25/2024 at 12:21 AM

Listed by: Don K Mertes, HomeSmart Phone #: (602) 230-7600

MLS: ArizonaRegional #6775423

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