1217 S FARMER Avenue, Tempe, AZ 85281
$1,135,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$1,135,000
Last Modified:
10/21/2020
Description
Farmer Apartments is a fully rented 7 units 3 blocks from ASU. These apartments all have been updated and super easy to rent. The duplex are both two bedroom one bath units. One bedroom one bath house in the back with common area seller owned coin operated laundry. The 4 plex features all studios. There is onsite storage for additional income. Rents are in process of being increased from rents not being raised in years. Super maintained property would also make a perfect short term rental as well or vacation rental. Owner is willing to trade into office space in zip codes 85281 or 85281. Please drive by only tenants are unaware of the sale.
More Information MLS# 5903711
Contract Info
Ownership: Fee Simple
Current Price: $1,135,000
Sold Price: $1,135,000
Status: Closed
List Date: 2019-03-22
Location, Tax & Legal
Assessor's Map #: 70
Assessor's Parcel #: 19
Add'l Parcels: Yes
Tax Municipality: Maricopa - COUNTY
Taxes: 2019
Legal: LOT 6 BLOCK 5 FARMERS BLKS 4-5 & PT 3, LOTS 6-9 MCR 000153
Marketing Name: Farmer Apartments
Map Code/Grid: R36
House Number: 1217
Compass: S
Street Name: FARMER
St Suffix: Avenue
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 5768
County Code: Maricopa
Assessor Number: 124-70-019
Tax Year: 2648
General Property Description
# of Buildings: 3
Uncvrd Parking Spcs: 12
Lot Size Dimensions: IRR
Total # of Units: 7
High School District: Phoenix Union High School District
Jr. High School: Tempe High School
High School: Tempe Academy Of International Studies McKemy Campus
Year Built: 1961
Zoning: R-3
Legal Info
Range: 4E
Section: 21
Township: 1N
Lot Number: 6/5
Project Type
5 - 12 Units: 1
Other Type
House + Rental Units: 1
Construction
Block: 1
Const - Finish
Brick Veneer: 1
Roofing
Composition: 1
Floors
Ceramic Tile: 1
Sale Includes
Land & Building: 1
Personal Property: 1
Income & Expenses
Annual Elec Exp: 1008
Annual Gas Exp: 256
Annual Ins Exp: 1600
Annual Land Lse Exp: 0
Annual Landscape Exp: 1450
Annual Legal & Acctg: 0
Annual Maint Exp: 4500
Annual Mgmt Exp: 0
Annual Trash Exp: 1200
Annual Wtr/Swr Exp: 1578
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 2648
Operating Exp: 16259
Other Income: 900
Vacancy Allowance: 0.01
Adjusted Gross Inc: 82625.4
Total Monthly Rental Income: 6880
Pmt & Rate Info
Cap Rate: 5.7
Down Payment: 0
Equity: 1199000
1st Encumbrance: 0
Down Payment %: 0
Monthly Payments: 0
1st Interest Rate: 0
1st Payment: 0
1st Payment Freq: None
2nd Encumbrance: 0
2nd Payment: 0
2nd Payment Freq: None
3rd Encumbrance: 0
3rd Payment: 0
3rd Payment Freq: None
Total Owed: 0
Assessment Balance: 0
Community Features
No Pool: 1
Manager Res/Office: 1
Heating
Heat Pump: 1
Wall Furnace: 1
Natural Gas: 1
Cooling
Electric: 1
Window/Wall Unit: 1
Exterior Amenities
Landscape Water System: 1
Desert Landscaping: 1
Partially Fenced: 1
Curb(s) & Gutter(s): 1
Satellite Dish: 1
Pet Restrictions: 1
Separate Storage: 1
Interior Features
Furnished: 1
Fire/Smoke Alarm(s): 1
Mini Blinds: 1
Water Softener(s): 1
Tenant Pays
Gas: 1
Electricity: 1
Cable TV: 1
Appliances Included
Dishwasher: 1
Disposal: 1
Refrigerator: 1
Built-In Range: 1
Washer/Dryer: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Master Meter: 1
Sewer
Sewer - Public: 1
Parking Features
Free: 1
>1 Space Per Unit: 1
Paved: 1
Electric
APS: 1
Individual Meter: 1
Gas
SW Gas: 1
Individual Meter: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
New Financing
Conventional: 1
Owner May Carry: 1
Existing 1st Loan
Private: 1
Existing 1st Loan Type
Fixed: 1
Existing 1st Loan Terms
Non Assumable: 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
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
# Efficiency Units: 4
Avg Rent: 799
Avg SqFt: 400
# Baths: 1
1 Bedroom Units
# 1 Bedroom Units: 1
Avg Rent: 1200
Avg SqFt: 400
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 2
Avg Rent: 1250
Avg SqFt: 700
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Mobile Home Prk Info
Avg Rent Single Wide: 0
Avg Rent Double Wide: 0
Avg Rent Ovrnght Spc: 0
Avg Rent RV Spaces: 0
Avg Rent Oversize Sp: 0
# Storage Spaces: 6
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: US-60 and MILL AVE.
Geo Lat: 33.415219
Geo Lon: -111.943869
Status Change Info
Off Market Date: 2019-05-06
Under Contract Date: 2019-04-21
Close of Escrow Date: 2019-05-06
Sold Price: $1,135,000
Income Expenses
Gross Annual Sch Inc: 82560
Net Operating Income: 68300
Property Features
Project Type: 5 - 12 Units
Other Type: House + Rental Units
Construction: Block
Const - Finish: Brick Veneer
Roofing: Composition
Floors: Ceramic Tile
Sale Includes: Land & Building; Personal Property
Community Features: No Pool; Manager Res/Office
Exterior Amenities: Landscape Water System; Desert Landscaping; Partially Fenced; Curb(s) & Gutter(s); Satellite Dish; Pet Restrictions; Separate Storage
Interior Features: Furnished; Fire/Smoke Alarm(s); Mini Blinds; Water Softener(s)
Appliances Included: Built-In Range; Refrigerator; Dishwasher; Disposal; Washer/Dryer
Heating: Natural Gas; Heat Pump; Wall Furnace
Cooling: Electric; Window/Wall Unit
Water Source: City Franchise; Master Meter
Sewer: Sewer - Public
Electric: APS; Individual Meter
Gas: SW Gas; Individual Meter
Parking Features: >1 Space Per Unit; Free; Paved
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity; Gas; Cable TV
Source of Fincl Data: Owner
Existing 1st Loan: Private
Existing 1st Loan Type: Fixed
Existing 1st Loan Terms: Non Assumable
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: Conventional; Owner May Carry
Environmental: None
Listing Office:
CentrixUSA
Last Updated: October - 21 - 2020
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.