1029 S Wilson Street, Tempe, AZ 85281

$950,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $950,000 Last Modified: 5/05/2015

Overview

Description

This downtown Tempe property sits in one of the most highly desirable locations in the Greater Phoenix market, the Ash neighborhood. About four blocks from ASU campus, this property is highly sought after by students who would rather walk or bike to school than pay to park on campus. The property also sits just one block from Mill Avenue shopping, restaurants, nightlife and light rail. Very low vacancy rates with low turnover make this a consistent cash flow investment with the possibility of huge equity gains.

Listing Details MLS# 5152723

Location, Tax & Legal

Map Code/Grid
R36
House Number
1029
Compass
S
Street Name
Wilson
St Suffix
Street
City/Town Code
Tempe
State/Province
AZ
Zip Code
85281
Zip4
5563
Country
US
County Code
Maricopa
Assessor Number
124-69-093-B
Tax Year
2013
Assessor's Map #
69
Legal Description (Abbrev)
Goodwin Homes
Assessor's Parcel #
93
Assessor Parcel Ltr
B
Add'l Parcels
No
Tax Municipality
Tempe
Taxes
2826
Legal
Goodwin Homes E 100F Lots 6 and 7 and S 27F of W 100F Lost 7 Blk 7 and all lot 8 Blk 7
Marketing Name
Wilson Apartments

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
UNK
Year Built
1978
Uncvrd Parking Spcs
20
Total # of Units
13
# of Buildings
3
Zoning
R3
Elementary School District
Tempe Elementary School District
High School District
Tempe Union High School District

Remarks Misc

Cross Street
University and Mill
Directions
From University and Mill go West on University to Wilson. Go South on Wilson, property 2 Blocks down on East Side of Street.

Status Change Info

Off Market Date
2014-08-11
Under Contract Date
2014-08-07
Close of Escrow Date
2014-10-08

Legal Info

Lot Number
7

More Information

Income Expenses

Gross Annual Sch Inc
98436
Net Operating Income
63344

1 Bedroom Units

# 1 Bedroom Units
13
Avg Rent
630
# Baths
Yes

Contact Info

List Agent Home Phn
602-795-5537

Sold Info

Loan Type
Cash
Loan Years
30
Payment Type
Fixed
Closing Cost Split
Normal - N
Buyer Concession $/%
$
Seller Concession $/%
$
Buyer Concession to Seller
0
Seller Concession to Buyer
0

Project Type

13 - 24 Units
Yes

Construction

Block
Yes

Const - Finish

Painted
Yes

Roofing

Rolled
Yes

Floors

Vinyl
Yes
Ceramic Tile
Yes
Carpet
Yes

Sale Includes

Land & Building
Yes

Income & Expenses

Annual Elec Exp
0
Annual Gas Exp
0
Annual Ins Exp
2600
Annual Land Lse Exp
0
Annual Landscape Exp
0
Annual Legal & Acctg
0
Annual Maint Exp
5200
Annual Mgmt Exp
9100
Annual Trash Exp
0
Annual Wtr/Swr Exp
9360
Owner Association
No
Annual Ownr Asoc Fee
0
Annual PAD Fee
0
Annual Rplcmnt Rsrvs
0
Annual Other Expense
2500
Operating Exp
31586
Other Income
2400
Vacancy Allowance
0.06
Adjusted Gross Inc
94785.84

Pmt & Rate Info

Cap Rate
6.21
Down Payment
0
Equity
1020000
Down Payment %
0
Monthly Payments
0
Total Owed
0
Assessment Balance
0

Community Features

No Pool
Yes

Heating

Heat Pump
Yes

Cooling

Electric
Yes

Exterior Amenities

Partially Fenced
Yes

Interior Features

Unfurnished
Yes

Tenant Pays

Gas
Yes
Electricity
Yes

Appliances Included

Refrigerator
Yes
Free-Standing Range
Yes

Road Surface Type

Asphalt
Yes

Source of Fincl Data

Owner
Yes

Water Source

City Franchise
Yes

Sewer

Sewer - Public
Yes

Parking Features

>1 Space Per Unit
Yes

Electric

APS
Yes

Gas

None
Yes

Owner Pays

Water
Yes
Sewer
Yes
Trash Collection
Yes

New Financing

Conventional
Yes

Existing 1st Loan

Treat as Free&Clear
Yes

Existing 1st Loan Type

Not Applicable
Yes

Existing 1st Loan Terms

Not Applicable
Yes

Existing 2nd Loan

Other (See Remarks)
Yes

Existing 2nd Loan Type

Not Applicable
Yes

Existing 2nd Loan Terms

Not Applicable
Yes

Existing 3rd Loan

Other (See Remarks)
Yes

Existing 3rd Loan Type

Not Applicable
Yes

Reports/Disclosures

None
Yes

Existing 3rd Loan Terms

Not Applicable
Yes

Environmental

None
Yes

Existing Othr Ln Trm

Not Applicable
Yes

Efficiency Units

Avg Rent
0

2 Bedroom Units

Avg Rent
0

3 Bedrooms Units

Avg Rent
0

4 Bedrooms Units

Avg Rent
0

Property Features

Project Type: 13 - 24 Units Construction: Block Const - Finish: Painted Roofing: Rolled Floors: Vinyl; Ceramic Tile; Carpet Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Partially Fenced Interior Features: Unfurnished Appliances Included: Free-Standing Range; Refrigerator Heating: Heat Pump Cooling: Electric Water Source: City Franchise Sewer: Sewer - Public Electric: APS Gas: None Parking Features: >1 Space Per Unit Road Surface Type: Asphalt Owner Pays: Water; Trash Collection Tenant Pays: Electricity; Gas Source of Fincl Data: Owner Existing 1st Loan: Treat as Free&Clear Existing 1st Loan Type: Not Applicable Existing 1st Loan Terms: Not Applicable Existing 2nd Loan: Other (See Remarks) Existing 2nd Loan Type: Not Applicable Existing 2nd Loan Terms: Not Applicable Existing 3rd Loan: Other (See Remarks) 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: Caliber Realty Group, LLC
Last Updated: May - 05 - 2015
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