1029 S Wilson Street, Tempe, AZ 85281
$950,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$950,000
Last Modified:
5/05/2015
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.
More Information MLS# 5152723
Contract Info
Ownership: Fee Simple
Current Price: $950,000
Sold Price: $950,000
Status: Closed
List Date: 2014-08-02
Location, Tax & Legal
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
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
County Code: Maricopa
Assessor Number: 124-69-093-B
Tax Year: 2013
General Property Description
# of Buildings: 3
Uncvrd Parking Spcs: 20
Lot Size Dimensions: UNK
Total # of Units: 13
Elementary School District: Tempe Elementary School District
High School District: Tempe Union High School District
Year Built: 1978
Zoning: R3
Project Type
13 - 24 Units: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Rolled: 1
Floors
Vinyl: 1
Ceramic Tile: 1
Carpet: 1
Sale Includes
Land & Building: 1
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: 1
Heating
Heat Pump: 1
Cooling
Electric: 1
Exterior Amenities
Partially Fenced: 1
Interior Features
Unfurnished: 1
Tenant Pays
Gas: 1
Electricity: 1
Appliances Included
Refrigerator: 1
Free-Standing Range: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
>1 Space Per Unit: 1
Electric
APS: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 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
Other (See Remarks): 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Other (See Remarks): 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
None: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Contact Info
List Agent Home Phn: 602-795-5537
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 13
Avg Rent: 630
# Baths: 1
2 Bedroom Units
Avg Rent: 0
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Cash
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 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.
Geo Lat: 33.418418
Geo Lon: -111.945269
Status Change Info
Off Market Date: 2014-08-11
Under Contract Date: 2014-08-07
Close of Escrow Date: 2014-10-08
Sold Price: $950,000
Legal Info
Lot Number: 7
Income Expenses
Gross Annual Sch Inc: 98436
Net Operating Income: 63344
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
Listing Office:
Caliber Realty Group, LLC
Last Updated: May - 05 - 2015
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