1214 W 5TH Street, Tempe, AZ 85281
$3,073,500
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$3,073,500
Last Modified:
1/21/2025
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
More Information MLS# 5864137
Contract Info
Ownership: Fee Simple
Current Price: $3,073,500
Sold Price: $3,073,500
Status: Closed
List Date: 2019-01-06
Location, Tax & Legal
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
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
County Code: Maricopa
Subdivision: 5TH STREET TOWNHOUSES
Assessor Number: 124-28-185
Tax Year: 2019
General Property Description
# of Buildings: 3
Uncvrd Parking Spcs: 9
Lot Size Dimensions: 19721
Total # of Units: 7
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
Year Built: 2018
Zoning: [R1-PAD]
Legal Info
Range: 4E
Section: 16
Township: 1N
Lot Number: 1-7
Project Type
5 - 12 Units: 1
Construction
Wood Frame: 1
Const - Finish
Painted: 1
Stucco: 1
Brick Veneer: 1
Siding: 1
Roofing
Foam: 1
Metal: 1
Other: 1
Floors
Wood: 1
Ceramic Tile: 1
Carpet: 1
Other: 1
Sale Includes
Land & Building: 1
Laundry Equipment: 1
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: 1
Heating
Electric: 1
Cooling
Electric: 1
Heat Pump: 1
Exterior Amenities
Landscape Water System: 1
Green Landscaping: 1
Cable TV Available: 1
Patio/Balcony: 1
Security Light(s): 1
Interior Features
Unfurnished: 1
Fire/Smoke Alarm(s): 1
Tenant Pays
Water: 1
Sewer: 1
Electricity: 1
Trash Collection: 1
Cable TV: 1
Appliances Included
Dishwasher: 1
Disposal: 1
Microwave: 1
Refrigerator: 1
Built-In Range: 1
Free-Standing Range: 1
W/D Hookup: 1
Other: 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
Garage: 1
>1 Space Per Unit: 1
Attached: 1
Paved: 1
Garage Door Opener: 1
Add'l Parking Avail: 1
Electric
SRP: 1
Underground: 1
Gas
None: 1
Owner Pays
Landscaping: 1
New Financing
Other (See Remarks): 1
Special
Owner/Agent: 1
Accept Backups (CLO): 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
None: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
Phase I Available: 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
Avg Rent: 0
3 Bedrooms Units
# 3 Bedroom Units: 7
Avg Rent: 3000
Avg SqFt: 1800
# Baths: 3
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: Rio Salado Pkwy & Priest Dr
Directions: South on Priest from Highway 202. East on 5th street to the community (north side of the street.)
Geo Lat: 33.425697
Geo Lon: -111.957501
Status Change Info
Off Market Date: 2019-02-08
Under Contract Date: 2019-02-08
Close of Escrow Date: 2019-03-01
Sold Price: $3,073,500
Income Expenses
Net Operating Income: 212681
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
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