1150 E ORANGE Street, Tempe, AZ 85281
$1,855,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$1,855,000
Last Modified:
2/02/2026
Description
Welcome to Seven on Orange Townhomes in the heart of Tempe. This property features a total of six large one bedroom one bath townhomes and one 2 bedroom one bath townhome. Property has a newer roof and central air conditioners. Current seller is replacing the main sewer lines to the main, repaving parking lot, new paint, adding separate yards to all the units with new fencing within the next 30 days. Three of the units have been updated and four are in original condition. Current on site laundry is leased but not on a current lease. All tenants have been given notice of 30 days to start raising the current rental rates. Rents were way below market at 700-850. Proforma rents once value add in place 1,150-1,250 for the ones and two bedroom 1,350-1,450.
Supplements: All facts and figures are approximate buyer to verify MLS information
More Information MLS# 6166813
Contract Info
Ownership: Fee Simple
Current Price: $1,855,000
Sold Price: $1,855,000
Status: Closed
List Date: 2020-12-02
Location, Tax & Legal
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: 4883
Legal: N/A
Marketing Name: Seven on Orange Townhomes
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
County Code: Maricopa
Assessor Number: 132-73-063-B
Tax Year: 2020
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 6
Lot Size Dimensions: IRR
Total # of Units: 7
Elementary School District: Tempe Elementary School District
Year Built: 1962
Zoning: R-4
Legal Info
Range: 4E
Section: 23
Township: 1N
Lot Number: 1
Project Type
5 - 12 Units: 1
Construction
Block: 1
Wood Frame: 1
Brick: 1
Const - Finish
Painted: 1
Stucco: 1
Brick Veneer: 1
Roofing
Built-Up: 1
Floors
Concrete: 1
Vinyl: 1
Wood: 1
Ceramic Tile: 1
Carpet: 1
Other: 1
Sale Includes
Land & Building: 1
Personal Property: 1
Income & Expenses
Annual Elec Exp: 1000
Annual Gas Exp: 900
Annual Ins Exp: 2500
Annual Land Lse Exp: 0
Annual Landscape Exp: 1000
Annual Legal & Acctg: 0
Annual Maint Exp: 4500
Annual Mgmt Exp: 5500
Annual Trash Exp: 1200
Annual Wtr/Swr Exp: 3500
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 24983
Other Income: 1000
Vacancy Allowance: 0.05
Adjusted Gross Inc: 98990
Total Monthly Rental Income: 8600
Pmt & Rate Info
Cap Rate: 5.16
Equity: 1435000
Down Payment %: 100
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Phone Call: 1
Community Features
No Pool: 1
Barbecue: 1
Heating
Electric: 1
Natural Gas: 1
Individual: 1
Cooling
Electric: 1
Individual: 1
Exterior Amenities
Landscape Water System: 1
Green Landscaping: 1
Desert Landscaping: 1
Partially Fenced: 1
Curb(s) & Gutter(s): 1
Cable TV Available: 1
Sidewalk(s): 1
Interior Features
Unfurnished: 1
Fire/Smoke Alarm(s): 1
Tenant Pays
Water: 1
Electricity: 1
Cable TV: 1
Appliances Included
Dishwasher: 1
Microwave: 1
Refrigerator: 1
Built-In Range: 1
Free-Standing Range: 1
W/D Hookup: 1
Road Access Type
Alley: 1
Dedicated Street: 1
Road Surface Type
Asphalt: 1
Concrete: 1
Source of Fincl Data
Projected Proforma: 1
Other (See Remarks): 1
Water Source
City Franchise: 1
Private: 1
Sewer
Sewer - Public: 1
Parking Features
Carport: 1
Free: 1
On Street: 1
<1 Space Per Unit: 1
1 Space/Unit: 1
Paved: 1
Electric
APS: 1
Gas
SW Gas: 1
Owner Pays
Water: 1
Sewer: 1
Electric: 1
Gas: 1
Trash Collection: 1
Landscaping: 1
New Financing
Cash to Loan: 1
Conventional: 1
No Carry: 1
1031 Exchange: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 6
Avg Rent: 1200
Avg SqFt: 722
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 1
Avg Rent: 1400
Avg SqFt: 960
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Cash
Closing Cost Split: Normal - N
Payment Type: Other
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: University and Rural
Directions: University to Rural, S. on Rural to Terrace, E. on Terrace to Orange, E. to property.
Geo Lat: 33.418712
Geo Lon: -111.919313
Status Change Info
Off Market Date: 2021-04-06
Under Contract Date: 2021-04-06
Close of Escrow Date: 2021-05-12
Sold Price: $1,855,000
Income Expenses
Gross Annual Sch Inc: 103200
Net Operating Income: 74057
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:
Grace CRE
Last Updated: February - 02 - 2026
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