1006 S DORSEY Lane, Tempe, AZ 85281
$927,500
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$927,500
Last Modified:
5/16/2025
Description
ASU Investor Opportunity! Highly desired location just east of Arizona State University campus in Tempe, close to the light rail & 101/202. Four units, each are 2-bedroom, 1 bath. Two buildings, 1006 & 1008 S Dorsey Lane. Each unit has its own private backyard. All four HVAC units are less than 2 years old. Remodeled bathrooms in 3 of 4 units. Upgraded flooring in all four units! All appliances at property convey with sale. All units are vacant, clean, and ready to go. Suitable for tenants today, or upgrade kitchens & one bathroom for higher rents.
More Information MLS# 6657575
Contract Info
Ownership: Fee Simple
Current Price: $927,500
Sold Price: $927,500
Status: Closed
List Date: 2024-01-31
Location, Tax & Legal
Assessor's Map #: 73
Legal Description (Abbrev): LOT 4 MALARAN PARK 1 MCR 009138
Assessor's Parcel #: 142
Add'l Parcels: No
Tax Municipality: Tempe
Census Tract: 319101
Taxes: 1853
Legal: LOT 4 MALARAN PARK 1 MCR 009138
Marketing Name: MALARAN PARK
House Number: 1006
Compass: S
Street Name: DORSEY
St Suffix: Lane
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 7386
County Code: Maricopa
Subdivision: MALARAN PARK 1
Assessor Number: 132-73-142
Tax Year: 2023
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 6
Lot Size Dimensions: 80X110
Total # of Units: 4
Elementary School District: Tempe Elementary School District
High School District: Tempe Union High School District
Jr. High School: Connolly Middle School
High School: Tempe High School
Year Built: 1961
Zoning: R3
Legal Info
Range: 4E
Section: 23
Township: 1N
Lot Number: 4
Project Type
Four Plex: 1
Construction
Block: 1
Const - Finish
Painted: 1
Brick Veneer: 1
Roofing
Composition: 1
Floors
Concrete: 1
Vinyl: 1
Carpet: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 1206
Annual Landscape Exp: 400
Annual Maint Exp: 1000
Annual Mgmt Exp: 1200
Annual Wtr/Swr Exp: 2700
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 8359
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 60000
Pmt & Rate Info
Cap Rate: 5.19
Equity: 995000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: Aligned Showings
Lockbox Type
Supra: 1
Community Features
No Pool: 1
Heating
Natural Gas: 1
Individual: 1
Cooling
Central Air: 1
Individual: 1
Exterior Amenities
Fenced: 1
Interior Features
Unfurnished: 1
Tenant Pays
Gas: 1
Water: 1
Sewer: 1
Electricity: 1
Trash Collection: 1
Cable TV: 1
Appliances Included
Refrigerator: 1
Free-Standing Range: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Free: 1
Electric
APS: 1
Gas
SW Gas: 1
Owner Pays
Landscaping: 1
New Financing
VA: 1
Conventional: 1
FHA: 1
Existing 1st Loan
Treat as Free&Clear: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 4
Avg Rent: 1250
Avg SqFt: 768
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Cash
Closing Cost Split: Normal - N
Payment Type: Other
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: RURAL & UNIVERSITY
Directions: East on Rural, from University. South on Dorsey Lane. West on Orange St. Units on your left. Park in lot in back of unit. Entrance between 1006 & 1008 buildings from parking lot.
Geo Lat: 33.418
Geo Lon: -111.917961
Status Change Info
Off Market Date: 2024-04-08
Under Contract Date: 2024-04-07
Close of Escrow Date: 2024-04-26
Sold Price: $927,500
Income Expenses
Gross Annual Sch Inc: 60000
Net Operating Income: 51641
Property Features
Project Type: Four Plex
Construction: Block
Const - Finish: Painted; Brick Veneer
Roofing: Composition
Floors: Concrete; Vinyl; Carpet
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Fenced
Interior Features: Unfurnished
Appliances Included: Free-Standing Range; Refrigerator
Heating: Natural Gas; Individual
Cooling: Individual; Central Air
Water Source: City Franchise
Sewer: Sewer - Public
Electric: APS
Gas: SW Gas
Parking Features: Free
Road Surface Type: Asphalt
Owner Pays: Landscaping
Tenant Pays: Water; Sewer; Electricity; Gas; Trash Collection; Cable TV
Source of Fincl Data: Owner
Lockbox Type: Supra
Existing 1st Loan: Treat as Free&Clear
New Financing: VA; FHA; Conventional
Environmental: None
Listing Office:
eXp Realty
Last Updated: May - 16 - 2025
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