1214 W 5TH Street, Tempe, AZ 85281 (MLS# 5864137)

1214 W 5TH Street, Tempe, AZ 85281

$3,073,500

Located near the highly coveted Mill Avenue District of Tempe, Arizona
Walk, bike or a short drive to shopping, services, fine dining and entertainment venues
Conveniently close to main thoroughfares and employment centers

Private front patio area for each residence

Soaring 9’ ceilings throughout to bring the natural light and views inside
Dramatic 13’6” ceiling in cupola

Insulate Ceilings Above 1st Floor R-11 Batts

KITCHEN PERIMETER: BLACK MIST GRANITE: HONED
KITCHEN ISLAND: BIANCO TYPHOON GRANITE: LEATHERED - WATERFALL
ALL BATHROOMS: BLACK MIST GRANITE: HONED

Samsung® stainless steel appliances
Slide-in electric range
Chimney hood
24 cubic foot French Door refrigerator w/Family Hub
Multi-cycle dishwasher
Built-in microwave

garbage disposal
Commercial Grade spray faucet
Refrigerator area pre-plumbed with recessed box for ice maker

Elegant custom cabinetry including:
High-End 42” upper cabinets with 2” crown
Adjustable upper shelves
Finished interiors
Hidden hinges

50-gallon electric water heater
AquaPEX™ plumbing

Pre-wired for ceiling fans in all bedrooms

Ultra-quiet low-sone bathroom ventilation

Delta™ water-conserving plumbing fixtures
Water-saver toilets

Chrome-finished Kwikset Halifax levered door hardware

Spacious walk-in closet with custom shelving

7 on Fifth is located in an opportunity zone, which encourages investors to develop the area.

KITCHEN PERIMETER: SLATE GREY QUARTZ
KITCHEN ISLAND: OPAL WHITE GRANITE: LEATHERED – WATERFALL
ALL BATHROOMS: SLATE GREY QUARTZ

Energy Efficient LED lighting throughout 200-amp electric service

KITCHEN PERIMETER: BLACK MIST GRANITE: HONED
KITCHEN ISLAND: OPAL WHITE GRANITE: LEATHERED
UPSTAIRS MASTER: BLACK MIST GRANITE: HONED
HALL BATH: OPAL WHITE GRANITE: LEATHERED
DOWNSTAIRS MASTER: BLACK MIST GRANITE: HONED

Insulation: ROOF: R-38
EXTERIOR WALLS: R-19
BETWEEN FLOORS: R-19
BEDROOMS & BATHS: R-11
COMMON WALLS: 2 x R-11

Dual undermount sinks with impressive widespread Delta™ fixtures

Handsome energy efficient recessed LED can lighting

KITCHEN PERIMETER: SLATE GREY QUARTZ
KITCHEN ISLAND: CARRARA SILVER MARBLE: HONED – WATERFALL
UPSTAIRS MASTER: SLATE GREY QUARTZ
HALL BATH: CARRARA SILVER MARBLE: HONED
DOWNSTAIRS MASTER: SLATE GREY QUARTZ

Argon Gas filled, Dual-glazed windows (Low E) and sliding glass doors

KITCHEN PERIMETER: SLATE GREY QUARTZ
KITCHEN ISLAND: BIANCO TYPHOON GRANITE: LEATHERED
ALL BATHS: SLATE GREY QUARTZ

Cool air conditioning (SEER 15) with R-6 insulated ducting

Electric forced air heating with top-of-the-line NEST Learning thermostat

KITCHEN PERIMETER: FROST QUARTZ
KITCHEN ISLAND: GRIGIO NUBE QUARTZ – WATERFALL
UPSTAIRS MASTER: GRIGIO NUBE QUARTZ
HALL BATH: FROST QUARTZ
DOWNSTAIRS MASTER: FROST QUARTZ

Silent-touch rocker style electrical switches

Carrara Marble, granite or quartz countertops and surrounds in baths
Quality chrome-finished plumbing fixtures
Exclusive Back-lit vanity mirrors in baths
Frameless beveled edge mirror medicine cabinets

KITCHEN PERIMETER: CARRARA SILVER MARBLE: HONED
KITCHEN ISLAND: OPAL WHITE GRANITE: LEATHERED
UPSTAIRS MASTER: BLACK MIST GRANITE: HONED
HALL BATH: CARRARA SILVER MARBLE: HONED
DOWNSTAIRS MASTER: OPAL WHITE GRANITE: LEATHERED

Convenient attached 2-car garage with direct access. Thermal insulated garage door

Property Type: Multiple Dwellings Status: Closed

Current Price: $3,073,500 Last Modified: 1/21/2025

Overview

Description

Community of 7 highly-upgraded, individually-metered townhomes located in an OPPORTUNITY ZONE! Units can be rented for an avg of $3000/mo or sold individually. These luxurious, detailed and well planned 3 bed, 3 bath urban townhomes have all the lavish finishes you would expect in a custom home- including attached 2 car side-by-side garage, and open floor plans with dual-master bedrooms! The homes are solidly crafted with insulated interior walls, soaring ceilings, and solid core doors. Upgraded finishes in each unit total over $100k and smart kitchen appliances are all included. In demand, convenient, urban location only 1 mile from ASU and close to the 202, tempe town lake business parks, and PHX airport. List price is already below replacement cost and current construction cost

Listing Details MLS# 5864137

Location, Tax & Legal

Map Code/Grid: R36
House Number: 1214
Compass: W
Street Name: 5TH
St Suffix: Street
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 6066
Country: US
County Code: Maricopa
Subdivision: 5TH STREET TOWNHOUSES
Assessor Number: 124-28-185
Tax Year: 2019
Assessor's Map #: 28
Legal Description (Abbrev): TRACT A 5TH STREET TOWNHOUSES MCR 129748
Assessor's Parcel #: 185
Add'l Parcels: Yes
Tax Municipality: Tempe
Census Tract: 318800
Taxes: 25492
Legal: TRACT A 5TH STREET TOWNHOUSES MCR 129748
Marketing Name: 7 on Fifth

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 19721
Year Built: 2018
Uncvrd Parking Spcs: 9
Total # of Units: 7
# of Buildings: 3
Zoning: [R1-PAD]
Elementary School District: Tempe Elementary School District
High School District: Tempe Union High School District
Elementary School: Scales Technology Academy
Jr. High School: Geneva Epps Mosley Middle School
High School: Tempe High School

Remarks Misc

Cross Street: Rio Salado Pkwy & Priest Dr
Directions: South on Priest from Highway 202. East on 5th street to the community (north side of the street.)

Status Change Info

Off Market Date: 2019-02-08
Under Contract Date: 2019-02-08
Close of Escrow Date: 2019-03-01

Legal Info

Township: 1N
Range: 4E
Section: 16
Lot Number: 1-7

More Information

Income Expenses

Net Operating Income: 212681

3 Bedrooms Units

# 3 Bedroom Units: 7
Avg Rent: 3000
Avg SqFt: 1800
# Baths: 3

Sold Info

Loan Type: Cash
Payment Type: Other
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

Wood Frame: Yes

Const - Finish

Painted: Yes
Stucco: Yes
Brick Veneer: Yes
Siding: Yes

Roofing

Foam: Yes
Metal: Yes
Other: Yes

Floors

Wood: Yes
Ceramic Tile: Yes
Carpet: Yes
Other: Yes

Sale Includes

Land & Building: Yes
Laundry Equipment: Yes

Income & Expenses

Annual Elec Exp: 472
Annual Gas Exp: 0
Annual Ins Exp: 8309
Annual Land Lse Exp: 0
Annual Landscape Exp: 6000
Annual Legal & Acctg: 0
Annual Maint Exp: 0
Annual Mgmt Exp: 0
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 513
Owner Association: Yes
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 40786
Other Income: 0
Vacancy Allowance: 3
Adjusted Gross Inc: 0

Pmt & Rate Info

Cap Rate: 6.6
Down Payment: 0
Equity: 3224000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0

Community Features

No Pool: Yes

Heating

Electric: Yes

Cooling

Electric: Yes
Heat Pump: Yes

Exterior Amenities

Landscape Water System: Yes
Green Landscaping: Yes
Cable TV Available: Yes
Patio/Balcony: Yes
Security Light(s): Yes

Interior Features

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

Tenant Pays

Water: Yes
Sewer: Yes
Electricity: Yes
Trash Collection: Yes
Cable TV: Yes

Appliances Included

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

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes
Projected Proforma: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

Garage: Yes
>1 Space Per Unit: Yes
Attached: Yes
Paved: Yes
Garage Door Opener: Yes
Add'l Parking Avail: Yes

Electric

SRP: Yes
Underground: Yes

Gas

None: Yes

Owner Pays

Landscaping: Yes

New Financing

Other (See Remarks): Yes

Special

Owner/Agent: Yes
Accept Backups (CLO): Yes

Existing 1st Loan

Treat as Free&Clear: Yes

Existing 1st Loan Type

Not Applicable: Yes

Existing 1st Loan Terms

Not Applicable: Yes

Existing 2nd Loan

Treat as Free&Clear: Yes

Existing 2nd Loan Type

Not Applicable: Yes

Existing 2nd Loan Terms

Not Applicable: Yes

Existing 3rd Loan

Treat as Free&Clear: Yes

Existing 3rd Loan Type

Not Applicable: Yes

Reports/Disclosures

None: Yes

Existing 3rd Loan Terms

Not Applicable: Yes

Environmental

Phase I Available: Yes

Existing Othr Ln Trm

Not Applicable: Yes

Efficiency Units

Avg Rent: 0

1 Bedroom Units

Avg Rent: 0

2 Bedroom Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: 5 - 12 Units Construction: Wood Frame Const - Finish: Painted; Stucco; Brick Veneer; Siding Roofing: Foam; Metal; Other Floors: Wood; Ceramic Tile; Carpet; Other Sale Includes: Land & Building; Laundry Equipment Community Features: No Pool Exterior Amenities: Landscape Water System; Green Landscaping; Cable TV Available; Patio/Balcony; Security Light(s) Interior Features: Unfurnished; Fire/Smoke Alarm(s) Appliances Included: Built-In Range; Free-Standing Range; Refrigerator; Dishwasher; Disposal; Microwave; W/D Hookup; Other Cooling: Electric; Heat Pump Water Source: City Franchise Sewer: Sewer - Public Electric: SRP; Underground Gas: None Parking Features: Garage; >1 Space Per Unit; Attached; Garage Door Opener; Add'l Parking Avail; Paved Road Surface Type: Asphalt Owner Pays: Landscaping Tenant Pays: Water; Sewer; Electricity; Trash Collection; Cable TV Source of Fincl Data: Owner; Projected Proforma Special: Owner/Agent; Accept Backups (CLO) Existing 1st Loan: Treat as Free&Clear Existing 1st Loan Type: Not Applicable Existing 1st Loan Terms: Not Applicable Existing 2nd Loan: Treat as Free&Clear Existing 2nd Loan Type: Not Applicable Existing 2nd Loan Terms: Not Applicable Existing 3rd Loan: Treat as Free&Clear Existing 3rd Loan Type: Not Applicable Existing 3rd Loan Terms: Not Applicable Existing Othr Ln Trm: Not Applicable New Financing: Other (See Remarks) Environmental: Phase I Available

Listing Office: HomeSmart

Last Updated: January - 21 - 2025