1211 W UNIVERSITY Drive, Tempe, AZ 85281

$635,000

Property Type: Multiple Dwellings Bedrooms: 11 Baths: 6 Status: Closed

Current Price: $635,000 Last Modified: 12/21/2024

Overview

Description

Great Tempe location with 5-2 bed/1 bath, 1 studio/1 bath unit located in a highly desirable rental area along an arterial street. Four units have been remodeled in the last few years. One unit remodel was just completed in late June and is currently vacant. Rents are below market and offer an opportunity to add value. Plenty of parking, on site laundry, individually metered and long term tenants. Within a mile of ASU, Rio Salado and Tempe Town Lakes. Prime location with lots of redevelopment in the area. Seller may carry. All facts and figures approximate buyer to verify to their satisfaction.

Listing Details MLS# 5560613

Location, Tax & Legal

Map Code/Grid: R36
House Number: 1211
Compass: W
Street Name: UNIVERSITY
St Suffix: Drive
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 3331
Country: US
County Code: Maricopa
Subdivision: WESTGATE SUB
Assessor Number: 124-74-006-C
Tax Year: 2016

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 74x104
Year Built: 1971
Uncvrd Parking Spcs: 4
Total # of Units: 6
# of Buildings: Yes
Zoning: R-3
Elementary School District: Tempe Elementary School District

Remarks Misc

Cross Street: University & Beck

Status Change Info

Off Market Date: 2017-07-07
Under Contract Date: 2017-06-29
Close of Escrow Date: 2017-08-01

Legal Info

Township: 1N
Range: 4E
Section: 21
Lot Number: 6

More Information

Efficiency Units

# Efficiency Units: Yes
Avg Rent: 595
Avg SqFt: 513
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: 5
Avg Rent: 702
Avg SqFt: 770
# Baths: Yes

Structure

Bedrooms Total: 11
Bathrooms Total: 6

Income Expenses

Gross Annual Sch Inc: 47836
Net Operating Income: 36418

Sold Info

Loan Type: Carryback
Loan Years: 7
Payment Type: Balloon
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $

Property Features

Project Type: 5 - 12 Units Construction: Wood Frame; Slump Block Const - Finish: Painted Roofing: Composition Floors: Vinyl; Carpet Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Landscape Water System; Sidewalk(s); Patio/Balcony Interior Features: Mini Blinds Appliances Included: Free-Standing Range; Refrigerator; Washer/Dryer Heating: Individual; Heat Pump Cooling: Electric; Heat Pump Water Source: City Franchise; Master Meter Sewer: Sewer - Public Electric: APS Gas: None Parking Features: Garage; >1 Space Per Unit; Other Road Access Type: Alley; Dedicated Street Owner Pays: Water; Trash Collection; Other; See Remarks Tenant Pays: Electricity 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; Owner May Carry; 1031 Exchange Environmental: None

Listing Office: Better Homes & Gardens Real Estate SJ Fowler

Office Phone: 480-649-3536

Last Updated: December - 21 - 2024