1102 S STRATTON Lane, Tempe, AZ 85281 (MLS# 6078234)

1102 S STRATTON Lane, Tempe, AZ 85281

$949,900

Property Type: Multiple Dwellings Status: Closed

Current Price: $949,900 Last Modified: 8/13/2021

Overview

Description

LOCATION-LOCATION!! Near ASU, 101, 202 & Valley Metro Light Rail. To include Parcels 132-66-048-C & 132-66-048-D. Spacious corner with 7 units and 4 covered parking, zoned R-4, so huge build-up potential. Zero vacancy rate. Major renovations in the last two years include: New A/C's all units New roofs on both buildings New trees front and back New washer and dryers. New hot water heaters New toilets throughout. New granite counters New bath vanities throughout. New paint inside and outside. Spacious yard area and ample parking. This area continues to grow, with new condos and apartments still springing up. All 3 parcels MUST be sold together. Drive by only, no sign on the property and please do not disturb tenants.

Listing Details MLS# 6078234

Location, Tax & Legal

Map Code/Grid: R37
House Number: 1102
Compass: S
Street Name: STRATTON
St Suffix: Lane
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 4529
Country: US
County Code: Maricopa
Subdivision: RANCHO EL DORADO 26-35, 45-53
Assessor Number: 132-66-046-A
Tax Year: 2019
Assessor's Map #: 66
Legal Description (Abbrev): RANCHO EL DORADO LOT 43 N 85' EX E 24'
Assessor's Parcel #: 46
Assessor Parcel Ltr: A
Add'l Parcels: Yes
Tax Municipality: Tempe
Census Tract: 319201
Taxes: 2642
Legal: RANCHO EL DORADO LOT 43 N 85' EX E 24'
Marketing Name: NA

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 219' x 86'
Year Built: 1963
Uncvrd Parking Spcs: 5
Total # of Units: 7
# of Buildings: 2
Zoning: R-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

Remarks Misc

Cross Street: Apache & McClintock

Status Change Info

Off Market Date: 2020-08-27
Under Contract Date: 2020-07-10
Close of Escrow Date: 2020-09-08

Legal Info

Township: 1N
Range: 4E
Section: 24
Lot Number: 43

More Information

Income Expenses

Gross Annual Sch Inc: 68400
Net Operating Income: 57012

Efficiency Units

# Baths: Yes
Avg Rent: 0

1 Bedroom Units

# 1 Bedroom Units: 6
Avg Rent: 800
Avg SqFt: 540
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: Yes
Avg Rent: 1025
Avg SqFt: 652
# Baths: 2

Sold Info

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

Project Type

Tri-Plex: Yes
Four Plex: Yes

Other Type

Packaged Offering: Yes

Construction

Block: Yes

Const - Finish

Painted: Yes

Roofing

Composition: Yes
Foam: Yes

Floors

Concrete: Yes
Ceramic Tile: Yes

Sale Includes

Land & Building: Yes
Laundry Equipment: Yes

Income & Expenses

Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 1800
Annual Land Lse Exp: 0
Annual Landscape Exp: 2400
Annual Legal & Acctg: 0
Annual Maint Exp: 2400
Annual Mgmt Exp: 0
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 780
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 10022
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 68400
Total Monthly Rental Income: 5700

Pmt & Rate Info

Cap Rate: 5.88
Down Payment: 0
Equity: 969900
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0

Payment Includes

Principal: Yes
Interest: Yes
Taxes: Yes
Insurance: Yes

Showing Notification Methods

Text: Yes

Lockbox Type

None: Yes

Community Features

No Pool: Yes

Heating

Wall Furnace: Yes
Natural Gas: Yes
Individual: Yes
Window/Wall Unit(s): Yes

Cooling

Window/Wall Unit: Yes
Individual: Yes

Exterior Amenities

Fenced: Yes

Interior Features

Unfurnished: Yes
Fire/Smoke Alarm(s): Yes

Tenant Pays

Gas: Yes
Water: Yes
Sewer: Yes
Electricity: Yes
Trash Collection: Yes
Cable TV: Yes

Appliances Included

Refrigerator: Yes
Free-Standing Range: Yes
Washer/Dryer: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes

Water Source

Individual Meter: Yes

Sewer

Sewer - Public: Yes
Sewer-In & Connected: Yes

Parking Features

Carport: Yes
Add'l Parking Avail: Yes

Electric

SRP: Yes
Individual Meter: Yes

Gas

SW Gas: Yes
Individual Meter: Yes

Owner Pays

Other: Yes
See Remarks: Yes

New Financing

Conventional: Yes

Special

Owner/Agent: 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

Treat as Free&Clear: Yes

Existing 2nd Loan Type

Not Applicable: Yes

Existing 2nd Loan Terms

Not Applicable: Yes

Existing 3rd Loan

Treat as Free&Clear: 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

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: Tri-Plex; Four Plex Other Type: Packaged Offering Construction: Block Const - Finish: Painted Roofing: Composition; Foam Floors: Concrete; Ceramic Tile Sale Includes: Land & Building; Laundry Equipment Payment Includes: Principal; Interest; Taxes; Insurance Community Features: No Pool Exterior Amenities: Fenced Interior Features: Unfurnished; Fire/Smoke Alarm(s) Appliances Included: Free-Standing Range; Refrigerator; Washer/Dryer Heating: Natural Gas; Individual; Window/Wall Unit(s); Wall Furnace Cooling: Window/Wall Unit; Individual Water Source: Individual Meter Sewer: Sewer - Public; Sewer-In & Connected Electric: SRP; Individual Meter Gas: SW Gas; Individual Meter Parking Features: Carport; Add'l Parking Avail Road Surface Type: Asphalt Owner Pays: Other; See Remarks Tenant Pays: Water; Sewer; Electricity; Gas; Trash Collection; Cable TV Source of Fincl Data: Owner Special: Owner/Agent 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: Keller Williams Realty Sonoran Living

Last Updated: August - 13 - 2021