1019 E TEMPE Drive, Tempe, AZ 85288
$770,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$770,000
Last Modified:
7/06/2022
Description
Hot location for this 6 unit building in North Tempe on the edge of S. Scottsdale, a few blocks east of Scottsdale Rd & a 1/2 mile to the 202. Short hop to the ASU campus or the heart of Old Town. 4 of the 6 units have been extensively renovated. All new electrical system w/ separate metering installed this year. 4 of the 6 units have newer HVAC units. All 1 bedroom units that are 448 SF. Huge 15,000+ SF corner lot could also offer development potential and possible assemblage scenario. Nice curb appeal w/ this well-maintained, low-maintenance building. Value-add w/ below market rents. Long-term owners who have self-managed. Tenants pay electric, owner pays gas, water/sewer. Full address is 1019 through 1029 E. Tempe Drive. Buyer to complete & rely on own due diligence. Expenses estimated.
More Information MLS# 6015497
Contract Info
Ownership: Fee Simple
Current Price: $770,000
Sold Price: $770,000
Status: Closed
List Date: 2019-12-17
Location, Tax & Legal
Assessor's Map #: 12
Legal Description (Abbrev): LOT 142 NORTH TEMPE MCR 003850
Assessor's Parcel #: 142
Assessor Parcel Ltr: A
Add'l Parcels: No
Tax Municipality: Tempe
Census Tract: 318400
Taxes: 2243
Legal: NORTH TEMPE LOTS 141 & 142 EXC S 65.80'
Marketing Name: N. Tempe 6 unit
Map Code/Grid: Q37
House Number: 1019
Compass: E
Street Name: TEMPE
St Suffix: Drive
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85288
Zip4: 1736
County Code: Maricopa
Subdivision: NORTH TEMPE
Assessor Number: 132-12-142-A
Tax Year: 2019
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 6
Lot Size Dimensions: IRR
Total # of Units: 6
Elementary School District: Tempe Elementary School District
High School District: Tempe Union High School District
Year Built: 1955
Zoning: R-2
Legal Info
Range: 4E
Section: 11
Township: 1N
Lot Number: 142
Project Type
5 - 12 Units: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Rolled: 1
Floors
Vinyl: 1
Ceramic Tile: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 0
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: 0
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 10357
Operating Exp: 12600
Other Income: 720
Vacancy Allowance: 0.05
Adjusted Gross Inc: 50205.6
Pmt & Rate Info
Cap Rate: 4.72
Down Payment: 0
Equity: 798000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Showing Notification Methods
Text: 1
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Electric: 1
Natural Gas: 1
2 or More Units: 1
Other: 1
See Remarks: 1
Cooling
Evaporative Cooling: 1
Central Air: 1
Electric: 1
Individual: 1
2 or More Units: 1
Exterior Amenities
Green Landscaping: 1
Desert Landscaping: 1
Interior Features
Unfurnished: 1
Tenant Pays
Electricity: 1
None: 1
Appliances Included
Refrigerator: 1
Built-In Range: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Projected Proforma: 1
Water Source
City Franchise: 1
Master Meter: 1
Sewer
Sewer - Public: 1
Parking Features
Carport: 1
On Street: 1
1 Space/Unit: 1
Electric
APS: 1
Individual Meter: 1
Gas
SW Gas: 1
Master Meter: 1
Owner Pays
Water: 1
Sewer: 1
Gas: 1
Trash Collection: 1
New Financing
Conventional: 1
Existing 1st Loan
Treat as Free&Clear: 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
Seller Prop Disc Stm: 1
None: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 6
Avg Rent: 724
Avg SqFt: 448
# Baths: 1
2 Bedroom Units
Avg Rent: 0
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Carryback
Loan Years: 30
Closing Cost Split: Normal - N
Payment Type: Balloon
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: Scottsdale Road & McKellips Road
Directions: Take Scottsdale Rd to Tempe Drive. Go east a few blocks to property, on corner.
Geo Lat: 33.442075
Geo Lon: -111.923489
Status Change Info
Off Market Date: 2020-02-25
Under Contract Date: 2020-02-13
Close of Escrow Date: 2020-03-13
Sold Price: $770,000
Income Expenses
Gross Annual Sch Inc: 52128
Net Operating Income: 37643
Property Features
Project Type: 5 - 12 Units
Construction: Block
Const - Finish: Painted
Roofing: Rolled
Floors: Vinyl; Ceramic Tile
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Green Landscaping; Desert Landscaping
Interior Features: Unfurnished
Appliances Included: Built-In Range; Refrigerator
Heating: Natural Gas; 2 or More Units; Other; See Remarks
Cooling: Electric; Evaporative Cooling; Individual; Central Air; 2 or More Units
Water Source: City Franchise; Master Meter
Sewer: Sewer - Public
Electric: APS; Individual Meter
Gas: SW Gas; Master Meter
Parking Features: Carport; On Street; 1 Space/Unit
Road Surface Type: Asphalt
Owner Pays: Water; Gas; Trash Collection
Tenant Pays: Electricity; None
Source of Fincl Data: Owner; Projected Proforma
Showing Notification Methods: Text
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
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
Environmental: None
Listing Office:
Platinum Living Realty
Last Updated: July - 06 - 2022
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