1214 S FARMER Avenue, Tempe, AZ 85281
$660,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$660,000
Last Modified:
6/30/2016
Description
6 Units walking distance to Mill Ave and Arizona State University. Two Buildings on one parcel two units one story and two story 4 Plex. 6 Units 1 Bed 1 Bath with a sub-let studio lease Dec 15 for $500 a month including utilities. New owner has an opportunity to add the Studio to one of the current 1 bedrooms making it a 2bed 2 bath. 100% occupied. Proforma is using current 2015 vacancy of 2.75%. 4 Units feature desirable two story with living down and bedroom up including hip industrial staircase. Roof for 1 story is a 25 year laminated /3D installed 1994. The roof on the two story is flat Tuff Foam roof system NEW Dec 2015. 5 A/C heat pumps installed 2013. Close of Escrow for 1214 S Farmer Ave. only After Jan 2 2016. The infor
More Information MLS# 5320345
Contract Info
Ownership: Fee Simple
Current Price: $660,000
Sold Price: $660,000
Status: Closed
List Date: 2015-08-06
Location, Tax & Legal
Assessor's Map #: 70
Legal Description (Abbrev): STATE COLLEGE HOMES
Assessor's Parcel #: 25
Add'l Parcels: No
Tax Municipality: Tempe
Census Tract: 318900
Taxes: 1885
Legal: STATE COLLEGE HOMES
Marketing Name: 6 Plus 1 on Farmer Tempe
Map Code/Grid: R37
House Number: 1214
Compass: S
Street Name: FARMER
St Suffix: Avenue
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 5775
County Code: Maricopa
Subdivision: STATE COLLEGE HOMES LOTS 33-40
Assessor Number: 124-70-025
Tax Year: 2014
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 2
Lot Size Dimensions: 50X190
Total # of Units: 6
Elementary School District: Tempe Elementary School District
Year Built: 1947
Zoning: R-3
Project Type
Duplex: 1
Four Plex: 1
5 - 12 Units: 1
Construction
Block: 1
Const - Finish
Stucco: 1
Roofing
Composition: 1
Foam: 1
Floors
Ceramic Tile: 1
Carpet: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 600
Annual Gas Exp: 0
Annual Ins Exp: 1660
Annual Land Lse Exp: 0
Annual Landscape Exp: 600
Annual Legal & Acctg: 0
Annual Maint Exp: 3000
Annual Mgmt Exp: 5713
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 1868
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 15326
Other Income: 1725
Vacancy Allowance: 0.05
Adjusted Gross Inc: 55914.15
Pmt & Rate Info
Cap Rate: 6.03
Down Payment: 0
Equity: 673250
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Community Features
Other: 1
See Remarks: 1
Heating
Electric: 1
Individual: 1
Cooling
Heat Pump: 1
Individual: 1
Tenant Pays
Electricity: 1
Appliances Included
Refrigerator: 1
Built-In Range: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Projected Proforma: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
1 Space/Unit: 1
Electric
APS: 1
Individual Meter: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
New Financing
Conventional: 1
1031 Exchange: 1
Existing 1st Loan
Other (See Rmks): 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 1
Existing 2nd Loan
Other (See Remarks): 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Other (See Remarks): 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
None: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 6
Avg Rent: 792
Avg SqFt: 711
# Baths: 1
2 Bedroom Units
Avg Rent: 0
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Conventional
Loan Years: 30
Closing Cost Split: Normal - N
Payment Type: Fixed
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: Mill and University
Directions: 12th St. and Farmer Ave. Tempe. University and Mill. West one block to Farmer Ave. South to property on West side of street
Geo Lat: 33.415469
Geo Lon: -111.944652
Status Change Info
Off Market Date: 2016-05-24
Under Contract Date: 2016-04-20
Close of Escrow Date: 2016-06-30
Sold Price: $660,000
Legal Info
Lot Number: 3
Income Expenses
Gross Annual Sch Inc: 57132
Net Operating Income: 40588
Property Features
Project Type: Duplex; Four Plex; 5 - 12 Units
Construction: Block
Const - Finish: Stucco
Roofing: Composition; Foam
Floors: Ceramic Tile; Carpet
Sale Includes: Land & Building
Community Features: Other; See Remarks
Appliances Included: Built-In Range; Refrigerator
Heating: Individual
Cooling: Heat Pump; Individual
Water Source: City Franchise
Sewer: Sewer - Public
Electric: APS; Individual Meter
Gas: None
Parking Features: 1 Space/Unit
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity
Source of Fincl Data: Owner; Projected Proforma
Existing 1st Loan: Other (See Rmks)
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; 1031 Exchange
Environmental: None
Documents
Flyer ›
Listing Office:
Better Homes & Gardens Real Estate SJ Fowler
Last Updated: June - 30 - 2016
Copyright 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.