1228 W 4TH Street, Tempe, AZ 85281
$1,450,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$1,450,000
Last Modified:
11/01/2024
Description
Sale of this property includes APN 124-28-001D and 124-28-001F. Property consists of 6 buildings with a total of 28 units located in a great Tempe location. Property is close to ASU, shopping, freeways, airport and entertainment. Sparkling pool onsite! Don't miss out on this fantastic investment opportunity!
More Information MLS# 5054570
Contract Info
Ownership: Fee Simple
Current Price: $1,450,000
Sold Price: $1,450,000
Status: Closed
List Date: 2014-01-15
Location, Tax & Legal
Assessor's Map #: 28
Assessor's Parcel #: 1
Assessor Parcel Ltr: B
Add'l Parcels: Yes
Tax Municipality: Tempe
Census Tract: 318800
Taxes: 6337.08
Legal: STATE PLAT 12 AMD W 290' OF S2 LOT 33 EX N
Marketing Name: Town Lake Apartments
Map Code/Grid: R37
House Number: 1228
Compass: W
Street Name: 4TH
St Suffix: Street
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 2505
County Code: Maricopa
Assessor Number: 124-28-001-B
Tax Year: 2013
General Property Description
# of Buildings: 6
Uncvrd Parking Spcs: 28
Lot Size Dimensions: 67953
Total # of Units: 28
Elementary School District: Tempe Elementary School District
High School District: Tempe Union High School District
Elementary School: Broadmor Elementary School
Jr. High School: McKemy Middle School
High School: Tempe Academy Of International Studies McKemy Campus
Year Built: 1963
Zoning: R3
Legal Info
Range: 4E
Section: 16
Township: 1N
Project Type
25 - 50 Units: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Vinyl: 1
Sale Includes
Land & Building: 1
Pool Equipment: 1
Income & Expenses
Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 3500
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 1500
Annual Maint Exp: 19600
Annual Mgmt Exp: 16576
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 0
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 29000
Operating Exp: 76513.08
Other Income: 0
Vacancy Allowance: 0.02
Adjusted Gross Inc: 170906.12
Pmt & Rate Info
Cap Rate: 6.3
Down Payment: 0
Equity: 1495000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Community Features
Pool: 1
Heating
Electric: 1
Cooling
Electric: 1
Exterior Amenities
Landscape Water System: 1
Green Landscaping: 1
Patio/Balcony: 1
Interior Features
Unfurnished: 1
Tenant Pays
Electricity: 1
Appliances Included
Dishwasher: 1
Microwave: 1
Refrigerator: 1
Free-Standing Range: 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/Unit: 1
Electric
SRP: 1
Gas
SW Gas: 1
Owner Pays
Water: 1
Sewer: 1
Gas: 1
Trash Collection: 1
New Financing
Conventional: 1
Other (See Remarks): 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Assume - Qualify: 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: 9
Avg Rent: 417
Avg SqFt: 350
# Baths: 1
1 Bedroom Units
# 1 Bedroom Units: 17
Avg Rent: 569
Avg SqFt: 600
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 2
Avg Rent: 700
Avg SqFt: 950
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
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: Priest Drive & 202
Geo Lat: 33.426673
Geo Lon: -111.958369
Status Change Info
Off Market Date: 2014-11-06
Under Contract Date: 2014-06-09
Close of Escrow Date: 2014-11-04
Sold Price: $1,450,000
Income Expenses
Gross Annual Sch Inc: 174394
Net Operating Income: 94158
Property Features
Project Type: 25 - 50 Units
Construction: Block
Const - Finish: Painted
Roofing: Composition
Floors: Vinyl
Sale Includes: Land & Building; Pool Equipment
Community Features: Pool
Exterior Amenities: Landscape Water System; Green Landscaping; Patio/Balcony
Interior Features: Unfurnished
Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Microwave
Cooling: Electric
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: SW Gas
Parking Features: 1 Space/Unit
Road Surface Type: Asphalt
Owner Pays: Water; Gas; Trash Collection
Tenant Pays: Electricity
Source of Fincl Data: Owner
Existing 1st Loan: Treat as Free&Clear
Existing 1st Loan Type: Not Applicable
Existing 1st Loan Terms: Assume - Qualify
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; Other (See Remarks)
Environmental: None
Listing Office:
Keller Williams Arizona Realty
Last Updated: November - 01 - 2024
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