1019 E TEMPE Drive, Tempe, AZ 85288

$770,000
Property Type: Multiple Dwellings Bedrooms: 6 Baths: 6 Status: Closed
Current Price: $770,000 Last Modified: 7/06/2022

Overview

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.

Listing Details MLS# 6015497

Location, Tax & Legal

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
Country
US
County Code
Maricopa
Subdivision
NORTH TEMPE
Assessor Number
132-12-142-A
Tax Year
2019

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
IRR
Year Built
1955
Uncvrd Parking Spcs
6
Total # of Units
6
# of Buildings
Yes
Zoning
R-2
Elementary School District
Tempe Elementary School District
High School District
Tempe Union High School District

Remarks Misc

Cross Street
Scottsdale Road & McKellips Road
Directions
Take Scottsdale Rd to Tempe Drive. Go east a few blocks to property, on corner.

Status Change Info

Off Market Date
2020-02-25
Under Contract Date
2020-02-13
Close of Escrow Date
2020-03-13

Legal Info

Township
1N
Range
4E
Section
11
Lot Number
142

More Information

1 Bedroom Units

# 1 Bedroom Units
6
Avg Rent
724
Avg SqFt
448
# Baths
Yes

Structure

Bedrooms Total
6
Bathrooms Total
6

Income Expenses

Gross Annual Sch Inc
52128
Net Operating Income
37643

Sold Info

Loan Type
Carryback
Loan Years
30
Payment Type
Balloon
Closing Cost Split
Normal - N
Buyer Concession $/%
$
Seller Concession $/%
$

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
IDX
Listing Office: Platinum Living Realty
Office Phone: 480-699-0777
Office Email: michelle@PlatinumLivingre.com
Last Updated: July - 06 - 2022
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