1235 W SOUTHERN Avenue, Tempe, AZ 85282
$550,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$550,000
Last Modified:
2/02/2026
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.
More Information MLS# 5928444
Contract Info
Ownership: Fee Simple
Current Price: $550,000
Sold Price: $550,000
Status: Closed
List Date: 2019-05-17
Location, Tax & Legal
Assessor's Map #: 42
Assessor's Parcel #: 66
Add'l Parcels: Yes
Tax Municipality: Maricopa - COUNTY
Taxes: 2070
Legal: TRACT E WESTWAY PARK MCR 012324
Marketing Name: WESTWAY PARK
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
County Code: Maricopa
Assessor Number: 123-42-066
Tax Year: 2018
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 4
Lot Size Dimensions: 0.213 acres / 9,275 sqft
Total # of Units: 8
High School District: Tempe Union High School District
Year Built: 1970
Zoning: R-3
Project Type
Four Plex: 1
5 - 12 Units: 1
Other Type
Packaged Offering: 1
Other (See Remarks): 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Rolled: 1
Floors
Vinyl: 1
Ceramic Tile: 1
Carpet: 1
Sale Includes
Building(s) Only: 1
Income & Expenses
Annual Elec Exp: 600
Annual Gas Exp: 0
Annual Ins Exp: 2400
Annual Land Lse Exp: 0
Annual Landscape Exp: 1000
Annual Legal & Acctg: 0
Annual Maint Exp: 4000
Annual Mgmt Exp: 10000
Annual Trash Exp: 1500
Annual Wtr/Swr Exp: 3500
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 3000
Annual Other Expense: 4540
Operating Exp: 32610
Other Income: 2000
Vacancy Allowance: 0.05
Adjusted Gross Inc: 106780
Total Monthly Rental Income: 9200
Pmt & Rate Info
Cap Rate: 6.45
Down Payment: 0
Equity: 1150000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Payment Includes
Principal: 1
Taxes: 1
Lockbox Type
None: 1
Community Features
No Pool: 1
Other: 1
See Remarks: 1
Heating
Electric: 1
Central: 1
Cooling
Central Air: 1
Electric: 1
Heat Pump: 1
Individual: 1
Exterior Amenities
Other (See Remarks): 1
Interior Features
Other (See Remarks): 1
Tenant Pays
Electricity: 1
Appliances Included
Refrigerator: 1
Free-Standing Range: 1
Other: 1
Road Surface Type
Asphalt: 1
Dirt: 1
Gravel: 1
Source of Fincl Data
Projected Proforma: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Carport: 1
On Street: 1
<1 Space Per Unit: 1
1 Space/Unit: 1
Electric
SRP: 1
Gas
None: 1
Other (See Remarks): 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
New Financing
VA: 1
Conventional: 1
FHA: 1
1031 Exchange: 1
Special
Owner/Agent: 1
Existing 1st Loan
FHA: 1
Conventional: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 1
Existing 2nd Loan
Other (See Remarks): 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Other (See Remarks): 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
None: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
Other (See Remarks): 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: 8
Avg Rent: 1150
Avg SqFt: 750
# 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: Normal - N
Payment Type: Fixed
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
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
Geo Lat: 33.392536
Geo Lon: -111.958276
Status Change Info
Off Market Date: 2019-07-26
Under Contract Date: 2019-05-29
Close of Escrow Date: 2019-07-26
Sold Price: $550,000
Legal Info
Lot Number: 2
Income Expenses
Gross Annual Sch Inc: 110400
Net Operating Income: 74170
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
Last Updated: February - 02 - 2026
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.