1217 S FARMER Avenue, Tempe, AZ 85281 (MLS# 5903711)

1217 S FARMER Avenue, Tempe, AZ 85281

$1,135,000

Property Type: Multiple Dwellings Bedrooms: 9 Baths: 7 Status: Closed

Current Price: $1,135,000 Last Modified: 10/21/2020

Overview

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.

Listing Details MLS# 5903711

Location, Tax & Legal

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
Country: US
County Code: Maricopa
Assessor Number: 124-70-019
Tax Year: 2648

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: IRR
Year Built: 1961
Uncvrd Parking Spcs: 12
Total # of Units: 7
# of Buildings: 3
Zoning: R-3
High School District: Phoenix Union High School District
Jr. High School: Tempe High School
High School: Tempe Academy Of International Studies McKemy Campus

Remarks Misc

Cross Street: US-60 and MILL AVE.

Status Change Info

Off Market Date: 2019-05-06
Under Contract Date: 2019-04-21
Close of Escrow Date: 2019-05-06

Legal Info

Township: 1N
Range: 4E
Section: 21
Lot Number: 6/5

More Information

Efficiency Units

# Efficiency Units: 4
Avg Rent: 799
Avg SqFt: 400
# Baths: Yes

1 Bedroom Units

# 1 Bedroom Units: Yes
Avg Rent: 1200
Avg SqFt: 400
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: 2
Avg Rent: 1250
Avg SqFt: 700
# Baths: Yes

Structure

Bedrooms Total: 9
Bathrooms Total: 7

Income Expenses

Gross Annual Sch Inc: 82560
Net Operating Income: 68300

Mobile Home Prk Info

# Storage Spaces: 6

Sold Info

Loan Type: Cash
Payment Type: Other
Closing Cost Split: Normal - N
Buyer Concession $/%: %
Seller Concession $/%: %

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

Office Phone: 619-892-5170

Office Email: jay.kister@centrixusa.com

Last Updated: October - 21 - 2020