1244 N ROSE Street, Tempe, AZ 85288

$1,550,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $1,550,000 Last Modified: 11/01/2023

Overview

Description

DEVELOPMENT OPPORTUNITY! Fully renovated 5 plex with great unit mix, large backyards and room to develop 2 additional large units per current zoning. Four 2 bed 1 bath units (two duplexes) and one 3 bed 2 bath SFR fully occupied grossing $8,240/mo. All units have beeb fully gutted inside and out and all systems replaced. 4 new HVAC units, all New Roofs, All new electrical panels, all new windows, and entire interiors. Over $600,000 spent on this property.

Listing Details MLS# 6508373

Location, Tax & Legal

Map Code/Grid
Q37
House Number
1244
Compass
N
Street Name
ROSE
St Suffix
Street
City/Town Code
Tempe
State/Province
AZ
Zip Code
85288
Country
US
County Code
Maricopa
Subdivision
NORTH TEMPE 2
Assessor Number
132-13-051-A
Tax Year
2022
Assessor's Map #
13
Legal Description (Abbrev)
LOT 202 NORTH TEMPE 2 MCR 007031
Assessor's Parcel #
51
Assessor Parcel Ltr
A
Add'l Parcels
Yes
Tax Municipality
Tempe
Census Tract
318400
Taxes
2880
Legal
LOT 202 NORTH TEMPE 2 MCR 007031
Marketing Name
Renovated 5 Plex!!

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
TBD
Year Built
1969
Uncvrd Parking Spcs
15
Total # of Units
5
# of Buildings
3
Zoning
R-2
Elementary School District
Tempe Elementary School District
High School District
Tempe Union High School District

Remarks Misc

Cross Street
Weber and Scottsdale Rd
Directions
Heading South on Scottsdale Road, Turn left onto Weber Dr, then take a Right onto Scovel St. Take first right onto Harry and the property is on the corner

Status Change Info

Off Market Date
2023-04-17
Under Contract Date
2023-03-02
Close of Escrow Date
2023-04-20

Legal Info

Township
1N
Range
4E
Section
11
Lot Number
202

More Information

Income Expenses

Gross Annual Sch Inc
98880
Net Operating Income
91233.6

2 Bedroom Units

# 2 Bedroom Units
4
Avg Rent
1535
Avg SqFt
2856
# Baths
Yes

3 Bedrooms Units

# 3 Bedroom Units
Yes
Avg Rent
2100
Avg SqFt
2100
# Baths
2

Sold Info

Loan Type
Cash
Payment Type
Other
Closing Cost Split
Normal - N
Buyer Concession $/%
$
Seller Concession $/%
$
Buyer Concession to Seller
0
Seller Concession to Buyer
0

Project Type

5 - 12 Units
Yes

Construction

Block
Yes

Const - Finish

Painted
Yes
Stucco
Yes
Siding
Yes

Roofing

Composition
Yes
Foam
Yes

Floors

Vinyl
Yes
Ceramic Tile
Yes

Sale Includes

Building(s) Only
Yes
Land & Building
Yes
Laundry Equipment
Yes

Income & Expenses

Annual Wtr/Swr Exp
1800
Owner Association
No
Annual Ownr Asoc Fee
0
Operating Exp
4680
Other Income
0
Vacancy Allowance
0.03
Adjusted Gross Inc
95913.6

Pmt & Rate Info

Cap Rate
5.07
Equity
1800000
Down Payment %
25
Monthly Payments
0
Total Owed
0

Showing Notification Methods

Text
Yes
Email
Yes
Phone Call
Yes

Lockbox Type

None
Yes

Community Features

No Pool
Yes

Heating

Central
Yes
2 or More Units
Yes

Cooling

Ceiling Fan(s)
Yes
Central Air
Yes
2 or More Units
Yes

Exterior Amenities

Fenced
Yes

Tenant Pays

Gas
Yes
Water
Yes
Sewer
Yes
Electricity
Yes
Trash Collection
Yes
Cable TV
Yes

Appliances Included

Disposal
Yes
Microwave
Yes
Refrigerator
Yes
Built-In Range
Yes
Washer/Dryer
Yes

Road Surface Type

Gravel
Yes

Source of Fincl Data

Owner
Yes

Water Source

City Franchise
Yes

Sewer

Sewer - Public
Yes

Parking Features

>1 Space Per Unit
Yes

Electric

SRP
Yes

Gas

City Gas
Yes

Owner Pays

Water
Yes
See Remarks
Yes

New Financing

Cash to Loan
Yes
VA
Yes
Conventional
Yes
Wraparound
Yes
1031 Exchange
Yes
Trade
Yes

Special

Owner/Agent
Yes

Reports/Disclosures

None
Yes

Environmental

None
Yes

Efficiency Units

Avg Rent
0

1 Bedroom Units

Avg Rent
0

4 Bedrooms Units

Avg Rent
0

Property Features

Project Type: 5 - 12 Units Construction: Block Const - Finish: Painted; Stucco; Siding Roofing: Composition; Foam Floors: Vinyl; Ceramic Tile Sale Includes: Building(s) Only; Land & Building; Laundry Equipment Community Features: No Pool Exterior Amenities: Fenced Appliances Included: Built-In Range; Refrigerator; Disposal; Microwave; Washer/Dryer Heating: Central; 2 or More Units Cooling: Ceiling Fan(s); Central Air; 2 or More Units Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: City Gas Parking Features: >1 Space Per Unit Road Surface Type: Gravel Owner Pays: Water; See Remarks Tenant Pays: Water; Sewer; Electricity; Gas; Trash Collection; Cable TV Source of Fincl Data: Owner Special: Owner/Agent Showing Notification Methods: Text; Email; Phone Call Lockbox Type: None New Financing: Cash to Loan; VA; Conventional; Wraparound; 1031 Exchange; Trade Environmental: None
IDX
Listing Office: Keller Williams Realty Phoenix
Last Updated: November - 01 - 2023
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