1235 W SOUTHERN Avenue, Tempe, AZ 85282

$550,000

Property Type: Multiple Dwellings Bedrooms: 16 Baths: 8 Status: Closed

Current Price: $550,000 Last Modified: 2/02/2026

Overview

Description

We are pleased to present West Park Apartments. These units are all two bedroom one bath units. This is a portfolio sale and can buy each at $575,000 1229 and 1235 W Southern Ave. 6.18% cap on proforma when all units rented at new rents. 5 of the units have been completely remodeled and 3 have not been updated. All units have covered parking and yards. Property has roofs replaced in the past year as well as new windows new paint and 5 newly remodeled units. units. All facts and figures are approximate buyer verify MLS information. Old rents from long term tenants and new rents being currently raised. Drive by only tenants are unaware of sale.

Listing Details MLS# 5928444

Location, Tax & Legal

Map Code/Grid: R36
House Number: 1235
Compass: W
Street Name: SOUTHERN
St Suffix: Avenue
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85282
Country: US
County Code: Maricopa
Assessor Number: 123-42-066
Tax Year: 2018

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 0.213 acres / 9,275 sqft
Year Built: 1970
Uncvrd Parking Spcs: 4
Total # of Units: 8
# of Buildings: Yes
Zoning: R-3
High School District: Tempe Union High School District

Remarks Misc

Cross Street: Southern and Priest
Directions: Head east on southern from Priest and property on right hand side drive through alley for access

Status Change Info

Off Market Date: 2019-07-26
Under Contract Date: 2019-05-29
Close of Escrow Date: 2019-07-26

Legal Info

Lot Number: 2

More Information

2 Bedroom Units

# 2 Bedroom Units: 8
Avg Rent: 1150
Avg SqFt: 750
# Baths: Yes

Structure

Bedrooms Total: 16
Bathrooms Total: 8

Income Expenses

Gross Annual Sch Inc: 110400
Net Operating Income: 74170

Sold Info

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

Property Features

Project Type: Four Plex; 5 - 12 Units Other Type: Packaged Offering; Other (See Remarks) Construction: Block Const - Finish: Painted Roofing: Rolled Floors: Vinyl; Ceramic Tile; Carpet Sale Includes: Building(s) Only Payment Includes: Principal; Taxes Community Features: No Pool; Other; See Remarks Exterior Amenities: Other (See Remarks) Interior Features: Other (See Remarks) Appliances Included: Free-Standing Range; Refrigerator; Other Heating: Central Cooling: Electric; Heat Pump; Individual; Central Air Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: None; Other (See Remarks) Parking Features: Carport; On Street; <1 Space Per Unit; 1 Space/Unit Road Surface Type: Gravel; Dirt; Asphalt Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity Source of Fincl Data: Projected Proforma Special: Owner/Agent Lockbox Type: None Existing 1st Loan: FHA; Conventional Existing 1st Loan Type: Not Applicable Existing 1st Loan Terms: Not Applicable Existing 2nd Loan: Other (See Remarks) Existing 2nd Loan Type: Not Applicable Existing 2nd Loan Terms: Not Applicable Existing 3rd Loan: Other (See Remarks) Existing 3rd Loan Type: Not Applicable Existing 3rd Loan Terms: Not Applicable Existing Othr Ln Trm: Not Applicable New Financing: VA; FHA; Conventional; 1031 Exchange Environmental: Other (See Remarks)

Listing Office: Grace CRE

Office Phone: 602-975-5516

Office Email: info@gracecre.com

Last Updated: February - 02 - 2026