1018 S DORSEY Lane, Tempe, AZ 85281
$975,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$975,000
Last Modified:
4/13/2025
Description
Location, location, location. Walking distance to ASU. Near shopping, restaurants, Tempe Market Place. Private yards, onsite laundry, owner owned, many improvements, all copper and pex plumbing, hot and cold replaced. Many upgrades including newer water heaters and a/c units. Unit 7 is fully remodeled.
More Information MLS# 6404640
Contract Info
Ownership: Fee Simple
Current Price: $975,000
Sold Price: $975,000
Status: Closed
List Date: 2022-05-23
Location, Tax & Legal
Assessor's Map #: 73
Legal Description (Abbrev): LOT 2 MALARAN PARK 1 MCR 009138
Assessor's Parcel #: 140
Add'l Parcels: Yes
Tax Municipality: Tempe
Census Tract: 319101
Taxes: 1790
Legal: LOT 2 MALARAN PARK 1 MCR 009138
Marketing Name: N/A
Map Code/Grid: R37
House Number: 1018
Compass: S
Street Name: DORSEY
St Suffix: Lane
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 7390
County Code: Maricopa
Subdivision: MALARAN PARK 1
Assessor Number: 132-73-140
Tax Year: 2021
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 8
Lot Size Dimensions: 79/110
Total # of Units: 4
Elementary School District: Tempe Elementary School District
High School District: Tempe Union High School District
Elementary School: Flora Thew Elementary School
Jr. High School: Connolly Middle School
High School: McClintock High School
Year Built: 1961
Zoning: R-3
Legal Info
Range: 4E
Section: 23
Township: 1N
Lot Number: 2
Project Type
Four Plex: 1
Construction
Brick: 1
Const - Finish
Other (See Remarks): 1
Roofing
Composition: 1
Floors
Vinyl: 1
Carpet: 1
Sale Includes
Land & Building: 1
Personal Property: 1
Laundry Equipment: 1
Income & Expenses
Annual Elec Exp: 600
Annual Gas Exp: 600
Annual Ins Exp: 1400
Annual Trash Exp: 2400
Annual Wtr/Swr Exp: 2400
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 9190
Other Income: 3000
Vacancy Allowance: 1
Adjusted Gross Inc: 0
Total Monthly Rental Income: 5600
Pmt & Rate Info
Cap Rate: 5.49
Equity: 1175000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Lockbox Type
Supra: 1
Community Features
No Pool: 1
Heating
Central: 1
Cooling
Ceiling Fan(s): 1
Central Air: 1
Exterior Amenities
Desert Landscaping: 1
Partially Fenced: 1
Separate Storage: 1
Interior Features
Fire/Smoke Alarm(s): 1
Vertical Blinds: 1
Tenant Pays
Gas: 1
Electricity: 1
Cable TV: 1
Appliances Included
Refrigerator: 1
Free-Standing Range: 1
Road Surface Type
Gravel: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Master Meter: 1
Sewer
Sewer - Public: 1
Parking Features
<1 Space Per Unit: 1
Assigned: 1
Electric
APS: 1
Gas
SW Gas: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
New Financing
VA: 1
Conventional: 1
FHA: 1
1031 Exchange: 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: 1025
Avg SqFt: 756
# Baths: 1
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: University and Dorsey Ln.
Directions: McClintock & University. West on University to light - Dorsey. South on Dorsey, property on west side of property. 1018 & 1020 S. Dorsey.
Geo Lat: 33.417569
Geo Lon: -111.917961
Status Change Info
Off Market Date: 2022-07-22
Under Contract Date: 2022-06-12
Close of Escrow Date: 2022-07-28
Sold Price: $975,000
Income Expenses
Gross Annual Sch Inc: 67280
Net Operating Income: 64528
Property Features
Project Type: Four Plex
Construction: Brick
Const - Finish: Other (See Remarks)
Roofing: Composition
Floors: Vinyl; Carpet
Sale Includes: Land & Building; Personal Property; Laundry Equipment
Community Features: No Pool
Exterior Amenities: Desert Landscaping; Partially Fenced; Separate Storage
Interior Features: Fire/Smoke Alarm(s); Vertical Blinds
Appliances Included: Free-Standing Range; Refrigerator
Heating: Central
Cooling: Ceiling Fan(s); Central Air
Water Source: City Franchise; Master Meter
Sewer: Sewer - Public
Electric: APS
Gas: SW Gas
Parking Features: <1 Space Per Unit; Assigned
Road Surface Type: Gravel
Owner Pays: Water; Trash Collection
Tenant Pays: Electricity; Gas; Cable TV
Source of Fincl Data: Owner
Lockbox Type: Supra
New Financing: VA; FHA; Conventional; 1031 Exchange
Environmental: None
Listing Office:
Brokers Only, LLC
Last Updated: April - 13 - 2025
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