1016 S MARIANA Street, Tempe, AZ 85281
$905,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$905,000
List Date:
9/28/2021
Last Modified:
2/12/2026
Description
HIGHLY sought ASU location. Walking distance and fully renovated units with inside washer and dryers. New fully renovated electric, new plumbing, new roof, new windows, new everything. This magnificent brick building is in perfect condition, 100% occupancy with low maintenance tenants, low expenses, and well kept grounds. This property is currently rented for $961 per unit with terms ending between May and June next year. No HOA, walking distance to light rail, and proforma rentals between to $1600 to $2200 student housing units. Perfect opportunity for the savvy investor. Don't miss this one! Low maintenance with two gorgeous palm trees at the front. No large messy trees that compromise your new roof.
More Information MLS# 6299497
Contract Info
Ownership: Fee Simple
Current Price: $905,000
Sold Price: $905,000
Status: Closed
List Date: 2021-09-27
Location, Tax & Legal
Assessor's Map #: 73
Legal Description (Abbrev): LOT 18 MARIANA PARK 2 MCR 009530
Assessor's Parcel #: 170
Add'l Parcels: No
Tax Municipality: Tempe
Census Tract: 319101
Taxes: 1127
Legal: LOT 18 MARIANA PARK 2 MCR 009530
Marketing Name: ASU MARIANA APARTMENTS
Map Code/Grid: R37
House Number: 1016
Compass: S
Street Name: MARIANA
St Suffix: Street
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 4151
County Code: Maricopa
Subdivision: MARIANA PARK 2
Assessor Number: 132-73-170
Tax Year: 2021
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 4
Lot Size Dimensions: 118*66
Total # of Units: 4
Elementary School District: Tempe Elementary School District
High School District: Tempe Union High School District
Elementary School: Broadmor Elementary School
High School: McClintock High School
Year Built: 1962
Zoning: MH
Legal Info
Range: 4E
Section: 23
Township: 1N
Lot Number: 18
Project Type
Four Plex: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Rolled: 1
Floors
Wood: 1
Ceramic Tile: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 0
Annual Gas Exp: 360
Annual Ins Exp: 600
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 0
Annual Mgmt Exp: 0
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 1200
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 3287
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 46200
Pmt & Rate Info
Cap Rate: 3.07
Down Payment: 0
Equity: 995000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Showing Notification Methods
Email: 1
Lockbox Type
None: 1
Community Features
No Pool: 1
Other: 1
See Remarks: 1
Heating
Electric: 1
Cooling
Window/Wall Unit: 1
Individual: 1
Exterior Amenities
Landscape Water System: 1
Green Landscaping: 1
Interior Features
Unfurnished: 1
Tenant Pays
Electricity: 1
Appliances Included
Disposal: 1
Microwave: 1
Refrigerator: 1
Built-In Range: 1
Free-Standing Range: 1
Washer/Dryer: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Projected Proforma: 1
Unknown: 1
Other (See Remarks): 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
1 Space/Unit: 1
Electric
APS: 1
Gas
SW Gas: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
New Financing
Conventional: 1
1031 Exchange: 1
Existing 1st Loan
Conventional: 1
Private: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
None: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Other (See Remarks): 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
# Efficiency Units: 4
Avg Rent: 965
Avg SqFt: 452
# Baths: 1
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
Avg Rent: 0
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Conventional
Loan Years: 30
Closing Cost Split: Normal - N
Payment Type: Fixed
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: Rural & University
Directions: From University Drive. South on Dorsey Ln, West on Orange St, South on Mariana St
Geo Lat: 33.417805
Geo Lon: -111.918944
Status Change Info
Off Market Date: 2021-12-14
Under Contract Date: 2021-10-25
Close of Escrow Date: 2021-12-10
Sold Price: $905,000
Income Expenses
Gross Annual Sch Inc: 46200
Net Operating Income: 30579
Property Features
Project Type: Four Plex
Construction: Block
Const - Finish: Painted
Roofing: Rolled
Floors: Wood; Ceramic Tile
Sale Includes: Land & Building
Community Features: No Pool; Other; See Remarks
Exterior Amenities: Landscape Water System; Green Landscaping
Interior Features: Unfurnished
Appliances Included: Built-In Range; Free-Standing Range; Refrigerator; Disposal; Microwave; Washer/Dryer
Cooling: Window/Wall Unit; Individual
Water Source: City Franchise
Sewer: Sewer - Public
Electric: APS
Gas: SW Gas
Parking Features: 1 Space/Unit
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity
Source of Fincl Data: Owner; Projected Proforma; Unknown; Other (See Remarks)
Showing Notification Methods: Email
Lockbox Type: None
Existing 1st Loan: Conventional; Private
Existing 1st Loan Type: Not Applicable
Existing 1st Loan Terms: Not Applicable
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Loan Type: Not Applicable
Existing 2nd Loan Terms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Loan Type: Not Applicable
Existing 3rd Loan Terms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional; 1031 Exchange
Environmental: None; Other (See Remarks)
Listing Office:
Cluff Real Estate LLC
Last Updated: February - 12 - 2026
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