1224 S Smith Road, Tempe, AZ 85281 (MLS# 6066566)

1224 S Smith Road, Tempe, AZ 85281

$705,000

Virtual Tour

https://prezi.com/view/pCHrjCYERc9BnWfpS8bt/

Property Type: Multiple Dwellings Bedrooms: 8 Baths: 4 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

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

2 Bedroom Units

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

Structure

Bedrooms Total: 8
Bathrooms Total: 4

Income Expenses

Gross Annual Sch Inc: 53496
Net Operating Income: 44307

Sold Info

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

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

Listing Office: Equity Arizona Real Estate

Office Phone: 801-573-4935

Office Email: equityarizona@gmail.com

Last Updated: February - 19 - 2025