1224 S Smith Road, Tempe, AZ 85281
$705,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$705,000
Last Modified:
2/19/2025
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
More Information MLS# 6066566
Contract Info
Ownership: Fee Simple
Current Price: $705,000
Sold Price: $705,000
Status: Closed
List Date: 2020-04-15
Location, Tax & Legal
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
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
County Code: Maricopa
Assessor Number: 132-67-062-L
Tax Year: 2019
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 4
Lot Size Dimensions: 67 x 108
Total # of Units: 4
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
Year Built: 1963
Zoning: MF
Legal Info
Range: 4E
Section: 24
Township: 1N
Project Type
Four Plex: 1
Construction
Brick: 1
Const - Finish
Brick Veneer: 1
Roofing
Other: 1
Floors
Ceramic Tile: 1
Sale Includes
Land & Building: 1
Laundry Equipment: 1
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: 1
Community Features
No Pool: 1
Heating
Electric: 1
Cooling
Electric: 1
Exterior Amenities
Desert Landscaping: 1
Cable TV Available: 1
Tenant Pays
Electricity: 1
Cable TV: 1
Appliances Included
Dishwasher: 1
Disposal: 1
Microwave: 1
Refrigerator: 1
Free-Standing Range: 1
Washer/Dryer: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
>1 Space Per Unit: 1
Electric
SRP: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
New Financing
Conventional: 1
Special
Owner/Agent: 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
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 4
Avg Rent: 1114
Avg SqFt: 644
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Conventional
Loan Years: 30
Closing Cost Split: Buyer - B
Payment Type: Fixed
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: 101 Freeway & Apache Blvd
Directions: North of Apache and Smith, 2nd 4plex on left once you pass USPS post office
Geo Lat: 33.415961
Geo Lon: -111.900737
Status Change Info
Off Market Date: 2020-10-15
Under Contract Date: 2020-07-01
Close of Escrow Date: 2020-10-14
Sold Price: $705,000
Income Expenses
Gross Annual Sch Inc: 53496
Net Operating Income: 44307
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
Last Updated: February - 19 - 2025
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