1150 E ORANGE Street, Tempe, AZ 85281 (MLS# 6134890)

1150 E ORANGE Street, Tempe, AZ 85281

$1,190,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $1,190,000 Last Modified: 2/02/2026

Overview

Description

The Peel on Orange apartments offers a rare buying opportunity for an Investor to acquire a partially renovated, 2 story townhouse style, 7 unit investment in the heart of Tempe within a very short walking distance to ASU. The possibilities are endless with rehab or redevelopment potential with major upside in rents. Current rents are way below market. There is very little in deferred maintenance as this property has already been partially rehabbed with newer roof, paint, interiors, etc. Whether you buy and hold or redevelop, these opportunities do not come on the market very often within the ASU campus proximity. All facts and figures approximate, buyer to verify to their satisfaction.

Listing Details MLS# 6134890

Location, Tax & Legal

Map Code/Grid: R37
House Number: 1150
Compass: E
Street Name: ORANGE
St Suffix: Street
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 4132
Country: US
County Code: Maricopa
Assessor Number: 132-73-063-B
Tax Year: 2020
Assessor's Map #: 73
Legal Description (Abbrev): PT E2 NW4 BEG SE COR TERRACE PK UNIT 1 TH S 88D 43' 30
Assessor's Parcel #: 63
Assessor Parcel Ltr: B
Add'l Parcels: No
Tax Municipality: Tempe
Census Tract: 319103
Taxes: 4843
Legal: PT E2 NW4 BEG SE COR TERRACE PK UNIT 1 TH S 88D 43' 30'' E ALG C/L LEMON ST 405.86' TO PT 11.25' WL
Marketing Name: The Peel on Orange Apts.

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: IRR
Year Built: 1962
Uncvrd Parking Spcs: 6
Total # of Units: 7
# of Buildings: Yes
Zoning: R-4
Elementary School District: Tempe Elementary School District

Remarks Misc

Cross Street: University and Rural
Directions: University to Rural, S. on Rural to Terrace, E. on Terrace to Orange, E. to property.

Status Change Info

Off Market Date: 2020-10-07
Under Contract Date: 2020-09-20
Close of Escrow Date: 2020-11-20

Legal Info

Township: 1N
Range: 4E
Section: 23
Lot Number: Yes

More Information

1 Bedroom Units

# 1 Bedroom Units: 6
Avg Rent: 950
Avg SqFt: 722
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: Yes
Avg Rent: 1250
Avg SqFt: 960
# Baths: Yes

Sold Info

Loan Type: Conventional
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

5 - 12 Units: Yes

Construction

Block: Yes
Wood Frame: Yes
Brick: Yes

Const - Finish

Painted: Yes
Stucco: Yes
Brick Veneer: Yes

Roofing

Built-Up: Yes

Floors

Concrete: Yes
Vinyl: Yes
Wood: Yes
Ceramic Tile: Yes
Carpet: Yes
Other: Yes

Sale Includes

Land & Building: Yes
Personal Property: Yes

Income & Expenses

Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 4843
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 0

Pmt & Rate Info

Equity: 1190000
Down Payment %: 100
Monthly Payments: 0
Total Owed: 0

Showing Notification Methods

Phone Call: Yes

Community Features

No Pool: Yes
Barbecue: Yes

Heating

Electric: Yes
Natural Gas: Yes
Individual: Yes

Cooling

Electric: Yes
Individual: Yes

Exterior Amenities

Landscape Water System: Yes
Green Landscaping: Yes
Desert Landscaping: Yes
Partially Fenced: Yes
Curb(s) & Gutter(s): Yes
Cable TV Available: Yes
Sidewalk(s): Yes

Interior Features

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

Tenant Pays

Water: Yes
Electricity: Yes
Cable TV: Yes

Appliances Included

Dishwasher: Yes
Microwave: Yes
Refrigerator: Yes
Built-In Range: Yes
Free-Standing Range: Yes
W/D Hookup: Yes

Road Access Type

Alley: Yes
Dedicated Street: Yes

Road Surface Type

Asphalt: Yes
Concrete: Yes

Source of Fincl Data

Projected Proforma: Yes
Other (See Remarks): Yes

Water Source

City Franchise: Yes
Private: Yes

Sewer

Sewer - Public: Yes

Parking Features

Carport: Yes
Free: Yes
On Street: Yes
<1 Space Per Unit: Yes
1 Space/Unit: Yes
Paved: Yes

Electric

APS: Yes

Gas

SW Gas: Yes

Owner Pays

Water: Yes
Sewer: Yes
Electric: Yes
Gas: Yes
Trash Collection: Yes
Landscaping: Yes

New Financing

Cash to Loan: Yes
Conventional: Yes
No Carry: Yes
1031 Exchange: Yes

Reports/Disclosures

None: Yes

Environmental

None: Yes

Efficiency Units

Avg Rent: 0

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: 5 - 12 Units Construction: Block; Wood Frame; Brick Const - Finish: Painted; Stucco; Brick Veneer Roofing: Built-Up Floors: Concrete; Vinyl; Wood; Ceramic Tile; Carpet; Other Sale Includes: Land & Building; Personal Property Community Features: No Pool; Barbecue Exterior Amenities: Landscape Water System; Green Landscaping; Desert Landscaping; Partially Fenced; Curb(s) & Gutter(s); Cable TV Available; Sidewalk(s) Interior Features: Unfurnished; Fire/Smoke Alarm(s) Appliances Included: Built-In Range; Free-Standing Range; Refrigerator; Dishwasher; Microwave; W/D Hookup Heating: Natural Gas; Individual Cooling: Electric; Individual Water Source: City Franchise; Private Sewer: Sewer - Public Electric: APS Gas: SW Gas Parking Features: Carport; On Street; <1 Space Per Unit; 1 Space/Unit; Free; Paved Road Access Type: Alley; Dedicated Street Road Surface Type: Asphalt; Concrete Owner Pays: Water; Electric; Gas; Trash Collection; Landscaping Tenant Pays: Water; Electricity; Cable TV Source of Fincl Data: Projected Proforma; Other (See Remarks) Showing Notification Methods: Phone Call New Financing: Cash to Loan; Conventional; No Carry; 1031 Exchange Environmental: None

Listing Office: Cardon Commercial

Last Updated: February - 02 - 2026