1320-1312 W 5TH Street, Tempe, AZ 85281
$1,025,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$1,025,000
Last Modified:
5/15/2025
Description
Sold! Per MLS, this represents the highest sold price for a cash/conventional deal EVER (4 units).
Prime location just blocks from Hayden-Ferry Landing, Mill/ASU, and a few minutes to Old
Town Scottsdale. In an OZ. All 2 bedroom unit mix (822sf/unit). Stabilized at a 6 CAP. Long-term, local owners have pride of ownership. Many recent renovations to some units including plumbing, kitchens/baths, windows, roof, etc. Classic features to value-add further. Excellent rents in place with mostly flexible month-to-month leases. The complex offers more amenities than the competition, including carport parking, fenced front yards with private back patios, individual laundry/storage rooms, gorgeous desert landscaping, and a pretty central courtyard. More like homes than apartments.
More Information MLS# 6830355
Contract Info
Ownership: Fee Simple
Current Price: $1,025,000
Sold Price: $1,025,000
Status: Closed
List Date: 2025-03-03
Location, Tax & Legal
Assessor's Map #: 28
Legal Description (Abbrev): LOT 11 JO-ELLEN HOMES MCR 008904
Assessor's Parcel #: 34
Add'l Parcels: Yes
Tax Municipality: Tempe
Census Tract: 318800
Taxes: 1408
Legal: LOT 11 & 12 JO-ELLEN HOMES MCR 008904
Marketing Name: ASU Polished 4
House Number: 1320-1312
Compass: W
Street Name: 5TH
St Suffix: Street
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 2895
County Code: Maricopa
Subdivision: JO-ELLEN HOMES
Assessor Number: 124-28-034
Tax Year: 2024
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 4
Lot Size Dimensions: .384 acres
Total # of Units: 4
High School District: Tempe Union High School District
Year Built: 1961
Zoning: R-2
Legal Info
Range: 4E
Section: 16
Township: 1N
Lot Number: 11
Project Type
Four Plex: 1
Other Type
Packaged Offering: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Ceramic Tile: 1
Other: 1
Sale Includes
Land & Building: 1
Laundry Equipment: 1
Other (See Remarks): 1
Income & Expenses
Annual Elec Exp: 330
Annual Gas Exp: 0
Annual Ins Exp: 1476
Annual Land Lse Exp: 0
Annual Landscape Exp: 1240
Annual Legal & Acctg: 0
Annual Maint Exp: 2360
Annual Mgmt Exp: 0
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 1954
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 1606
Operating Exp: 10374
Other Income: 400
Vacancy Allowance: 0.03
Adjusted Gross Inc: 79540
Total Monthly Rental Income: 6800
Pmt & Rate Info
Cap Rate: 6.06
Equity: 1095000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Payment Includes
Principal: 1
Interest: 1
Showing Notification Methods
Showing Service: No Showing Service Used
Text: 1
Lockbox Type
See Private Remarks: 1
Community Features
No Pool: 1
Other: 1
See Remarks: 1
Heating
Heat Pump: 1
Electric: 1
Cooling
Electric: 1
Heat Pump: 1
Exterior Amenities
Landscape Water System: 1
Desert Landscaping: 1
Fenced: 1
Partially Fenced: 1
RV/Boat Parking: 1
Cable TV Available: 1
Patio/Balcony: 1
Security Light(s): 1
Other (See Remarks): 1
Interior Features
Unfurnished: 1
Fire/Smoke Alarm(s): 1
Mini Blinds: 1
Drapes: 1
Other (See Remarks): 1
Tenant Pays
Electricity: 1
Appliances Included
Dishwasher: 1
Disposal: 1
Refrigerator: 1
Free-Standing Range: 1
Washer/Dryer: 1
Other: 1
Road Access Type
Dedicated Street: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Other (See Remarks): 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Carport: 1
Free: 1
1 Space/Unit: 1
Add'l Parking Avail: 1
RV Access/Parking: 1
Electric
SRP: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
Landscaping: 1
New Financing
Cash: 1
Conventional: 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
Seller Prop Disc Stm: 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: 1700
Avg SqFt: 822
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Other
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 and Rio Salado
Directions: 202 to Priest to 5th.
Geo Lat: 33.42577
Geo Lon: -111.960085
Status Change Info
Off Market Date: 2025-05-07
Under Contract Date: 2025-04-26
Close of Escrow Date: 2025-05-15
Sold Price: $1,025,000
Income Expenses
Gross Annual Sch Inc: 81600
Net Operating Income: 66358
Property Features
Project Type: Four Plex
Other Type: Packaged Offering
Construction: Block
Const - Finish: Painted
Roofing: Composition
Floors: Ceramic Tile; Other
Sale Includes: Land & Building; Laundry Equipment; Other (See Remarks)
Payment Includes: Principal; Interest
Community Features: No Pool; Other; See Remarks
Exterior Amenities: Landscape Water System; Desert Landscaping; Fenced; Partially Fenced; RV/Boat Parking; Cable TV Available; Patio/Balcony; Security Light(s); Other (See Remarks)
Interior Features: Unfurnished; Fire/Smoke Alarm(s); Mini Blinds; Drapes; Other (See Remarks)
Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Washer/Dryer; Other
Heating: Heat Pump
Cooling: Electric; Heat Pump
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: None
Parking Features: Carport; 1 Space/Unit; Add'l Parking Avail; RV Access/Parking; Free
Road Access Type: Dedicated Street
Road Surface Type: Asphalt
Owner Pays: Water; Landscaping
Tenant Pays: Electricity
Source of Fincl Data: Owner; Other (See Remarks)
Showing Notification Methods: Text
Lockbox Type: See Private Remarks
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: Cash; Conventional
Environmental: None
Listing Office:
Better Homes & Gardens Real Estate SJ Fowler
Last Updated: May - 15 - 2025
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