1224 S Smith Road, Tempe, AZ 85281

$705,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $705,000 Last Modified: 2/19/2025

Overview

Description

Fully occupied 4plex, in heart of Tempe, located walking distance from Smith/Apache Light rail stop. All units are 2bed/1bath. All units have new kitchen cabinets, granite counter tops. All units feature in-unit laundry, with stackable washer-dryer. Exterior of building recently painted, 3 of units interior also got painted in last one year. All 4 units gets Section 8 assistance, monthly rent from City of Tempe is usually deposited 10 days before rent is due. Extra storage at back, that can be used for Coin laundry for extra income. No showing until accepted offer. Pictures taken when units were vacant. Currently drawing $4458 total monthly rent. 2 leases are month to month, one 10/31/20 and last is 12/31/20: Rents are : $1250, $1130, $1020, $1058 Buyer to verify all information

Listing Details MLS# 6066566

Location, Tax & Legal

Map Code/Grid
R37
House Number
1224
Compass
S
Street Name
Smith
St Suffix
Road
City/Town Code
Tempe
State/Province
AZ
Zip Code
85281
Zip4
4547
Country
US
County Code
Maricopa
Assessor Number
132-67-062-L
Tax Year
2019
Assessor's Map #
67
Legal Description (Abbrev)
N2 S 134F OF N 331F OF FOL DESC PROP BEG AT PT 52 8F E OF SW COR SE4 SE4 NW4 TH E 108F TH NLY TO PT
Assessor's Parcel #
62
Assessor Parcel Ltr
L
Add'l Parcels
No
Tax Municipality
Tempe
Census Tract
319201
Taxes
1437.38
Legal
N2 S 134F OF N 331F OF FOL DESC PROP BEG AT PT 52 8F E OF SW COR SE4 SE4 NW4 TH E 108F TH NLY TO PT
Marketing Name
Cashflow Tempe 4plex

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
67 x 108
Year Built
1963
Uncvrd Parking Spcs
4
Total # of Units
4
# of Buildings
Yes
Zoning
MF
Elementary School District
Tempe Elementary School District
High School District
Tempe Union High School District
Elementary School
Flora Thew Elementary School
Jr. High School
Connolly Middle School
High School
McClintock High School

Remarks Misc

Cross Street
101 Freeway & Apache Blvd
Directions
North of Apache and Smith, 2nd 4plex on left once you pass USPS post office

Status Change Info

Off Market Date
2020-10-15
Under Contract Date
2020-07-01
Close of Escrow Date
2020-10-14

Legal Info

Township
1N
Range
4E
Section
24

More Information

Income Expenses

Gross Annual Sch Inc
53496
Net Operating Income
44307

2 Bedroom Units

# 2 Bedroom Units
4
Avg Rent
1114
Avg SqFt
644
# Baths
Yes

Sold Info

Loan Type
Conventional
Loan Years
30
Payment Type
Fixed
Closing Cost Split
Buyer - B
Buyer Concession $/%
$
Seller Concession $/%
$
Buyer Concession to Seller
0
Seller Concession to Buyer
0

Project Type

Four Plex
Yes

Construction

Brick
Yes

Const - Finish

Brick Veneer
Yes

Roofing

Other
Yes

Floors

Ceramic Tile
Yes

Sale Includes

Land & Building
Yes
Laundry Equipment
Yes

Income & Expenses

Annual Elec Exp
600
Annual Gas Exp
0
Annual Ins Exp
1272
Annual Land Lse Exp
0
Annual Landscape Exp
480
Annual Legal & Acctg
0
Annual Maint Exp
3000
Annual Mgmt Exp
0
Annual Trash Exp
1500
Annual Wtr/Swr Exp
1500
Owner Association
No
Annual Ownr Asoc Fee
0
Annual PAD Fee
0
Annual Rplcmnt Rsrvs
0
Annual Other Expense
0
Operating Exp
9789.38
Other Income
0
Vacancy Allowance
0.03
Adjusted Gross Inc
51891.12

Pmt & Rate Info

Cap Rate
6.16
Down Payment
174975
Equity
719000
Down Payment %
25
Monthly Payments
0
Total Owed
0
Assessment Balance
0

Showing Notification Methods

Email
Yes

Community Features

No Pool
Yes

Heating

Electric
Yes

Cooling

Electric
Yes

Exterior Amenities

Desert Landscaping
Yes
Cable TV Available
Yes

Tenant Pays

Electricity
Yes
Cable TV
Yes

Appliances Included

Dishwasher
Yes
Disposal
Yes
Microwave
Yes
Refrigerator
Yes
Free-Standing Range
Yes
Washer/Dryer
Yes

Road Surface Type

Asphalt
Yes

Source of Fincl Data

Owner
Yes

Water Source

City Franchise
Yes

Sewer

Sewer - Public
Yes

Parking Features

>1 Space Per Unit
Yes

Electric

SRP
Yes

Gas

None
Yes

Owner Pays

Water
Yes
Sewer
Yes

New Financing

Conventional
Yes

Special

Owner/Agent
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

None
Yes

Existing Othr Ln Trm

Not Applicable
Yes

Efficiency Units

Avg Rent
0

1 Bedroom Units

Avg Rent
0

3 Bedrooms Units

Avg Rent
0

4 Bedrooms Units

Avg Rent
0

Property Features

Project Type: Four Plex Construction: Brick Const - Finish: Brick Veneer Roofing: Other Floors: Ceramic Tile Sale Includes: Land & Building; Laundry Equipment Community Features: No Pool Exterior Amenities: Desert Landscaping; Cable TV Available Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer Cooling: Electric Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: None Parking Features: >1 Space Per Unit Road Surface Type: Asphalt Owner Pays: Water Tenant Pays: Electricity; Cable TV Source of Fincl Data: Owner Special: Owner/Agent Showing Notification Methods: Email 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: Conventional Environmental: None
IDX
Listing Office: Equity Arizona Real Estate
Last Updated: February - 19 - 2025
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.
Search powered by FBS Products