1141 S Farmer Avenue, Tempe, AZ 85281
$1,000,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$1,000,000
List Date:
7/06/2023
Last Modified:
5/06/2025
Description
Spectacular quadplex close to ASU and Downtown Tempe, this 4-plex is centered around the cottages and bungalows of the MAPLE ASH FARMER WILSON (MAFW) neighborhood. The 2 story building has 4 units with 2 good sized bedrooms and 1 full bath, covered parking and is just moments away from 'locals only' hangouts, fine dinning and lots of great shopping. At the north end of Farmer Ave is lake access and event parking with more great restaurant finds. it's proximity to the downtown area helps maintain its zero vacancy rate. Great investment opportunity!!
More Information MLS# 6574745
Contract Info
Ownership: Fee Simple
Current Price: $1,000,000
Sold Price: $1,000,000
Status: Closed
List Date: 2023-06-28
Location, Tax & Legal
Assessor's Map #: 70
Assessor's Parcel #: 12
Assessor Parcel Ltr: B
Add'l Parcels: No
Tax Municipality: Tempe
Taxes: 2690
Legal: LOT 9 BLOCK 4 FARMERS ADDITION BLOCKS 1-2 & PART 3 & LOTS 1-5 MCR 000153
Marketing Name: FARMERS ADDITION BLOCKS
Map Code/Grid: R37
House Number: 1141
Compass: S
Street Name: Farmer
St Suffix: Avenue
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 5551
County Code: Maricopa
Subdivision: FARMERS ADDITION BLOCKS 1-2 & PART 3 & LOTS 1-5
Assessor Number: 124-70-012-B
Tax Year: 2022
General Property Description
# of Buildings: 4
Uncvrd Parking Spcs: 0
Lot Size Dimensions: 57x142
Total # of Units: 4
Elementary School District: Tempe Elementary School District
High School District: Tempe Union High School District
Elementary School: Holdeman Elementary School
Jr. High School: Geneva Epps Mosley Middle School
High School: Tempe High School
Year Built: 1972
Zoning: R-3
Legal Info
Range: 4E
Section: 21
Township: 1N
Lot Number: 9
Project Type
Four Plex: 1
Construction
Block: 1
Wood Frame: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Vinyl: 1
Ceramic Tile: 1
Carpet: 1
Sale Includes
Land & Building: 1
Personal Property: 1
Laundry Equipment: 1
Income & Expenses
Annual Elec Exp: 792
Annual Gas Exp: 0
Annual Ins Exp: 2608.95
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 1313.89
Annual Mgmt Exp: 0
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 3014
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Operating Exp: 10418.84
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 67200
Total Monthly Rental Income: 5600
Pmt & Rate Info
Cap Rate: 5.68
Down Payment: 0
Equity: 1000000
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
Cooling
Ceiling Fan(s): 1
2 or More Units: 1
Exterior Amenities
Desert Landscaping: 1
Partially Fenced: 1
Curb(s) & Gutter(s): 1
Cable TV Available: 1
Sidewalk(s): 1
Interior Features
Unfurnished: 1
Tenant Pays
Gas: 1
Water: 1
Sewer: 1
Electricity: 1
Trash Collection: 1
Cable TV: 1
Landscaping: 1
Appliances Included
Refrigerator: 1
Free-Standing Range: 1
Washer/Dryer: 1
Road Access Type
Dedicated Street: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Carport: 1
On Street: 1
1 Space/Unit: 1
Electric
APS: 1
Gas
None: 1
Owner Pays
None: 1
New Financing
Conventional: 1
Owner May Carry: 1
Existing 1st Loan
Treat as Free&Clear: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Contact Info
List Agent Home Phn: 480-982-6767
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 4
Avg Rent: 1400
Avg SqFt: 800
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Carryback
Loan Years: 3
Closing Cost Split: Normal - N
Payment Type: Interest Only
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: University & Mill
Directions: West on University from Mill, South(right) on Framer. Property will be on the East side(left) of the road.
Geo Lat: 33.416134
Geo Lon: -111.943871
Status Change Info
Off Market Date: 2023-07-10
Under Contract Date: 2023-07-08
Close of Escrow Date: 2023-08-03
Sold Price: $1,000,000
Income Expenses
Gross Annual Sch Inc: 67200
Net Operating Income: 56780.65
Property Features
Project Type: Four Plex
Construction: Block; Wood Frame
Const - Finish: Painted
Roofing: Composition
Floors: Vinyl; Ceramic Tile; Carpet
Sale Includes: Land & Building; Personal Property; Laundry Equipment
Community Features: No Pool
Exterior Amenities: Desert Landscaping; Partially Fenced; Curb(s) & Gutter(s); Cable TV Available; Sidewalk(s)
Interior Features: Unfurnished
Appliances Included: Free-Standing Range; Refrigerator; Washer/Dryer
Cooling: Ceiling Fan(s); 2 or More Units
Water Source: City Franchise
Sewer: Sewer - Public
Electric: APS
Gas: None
Parking Features: Carport; On Street; 1 Space/Unit
Road Access Type: Dedicated Street
Road Surface Type: Asphalt
Owner Pays: None
Tenant Pays: Water; Sewer; Electricity; Gas; Trash Collection; Cable TV; Landscaping
Source of Fincl Data: Owner
Showing Notification Methods: Text
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
New Financing: Conventional; Owner May Carry
Environmental: None
Listing Office:
Realty Executives
Last Updated: May - 06 - 2025
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