1320-1312 W 5TH Street, Tempe, AZ 85281

$1,025,000

Property Type: Multiple Dwellings Bedrooms: 8 Baths: 4 Status: Closed

Current Price: $1,025,000 Last Modified: 5/15/2025

Overview

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.

Listing Details MLS# 6830355

Location, Tax & Legal

House Number: 1320-1312
Compass: W
Street Name: 5TH
St Suffix: Street
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 2895
Country: US
County Code: Maricopa
Subdivision: JO-ELLEN HOMES
Assessor Number: 124-28-034
Tax Year: 2024

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: .384 acres
Year Built: 1961
Uncvrd Parking Spcs: 4
Total # of Units: 4
# of Buildings: 2
Zoning: R-2
High School District: Tempe Union High School District

Remarks Misc

Cross Street: Priest and Rio Salado
Directions: 202 to Priest to 5th.

Status Change Info

Off Market Date: 2025-05-07
Under Contract Date: 2025-04-26
Close of Escrow Date: 2025-05-15

Legal Info

Township: 1N
Range: 4E
Section: 16
Lot Number: 11

More Information

2 Bedroom Units

# 2 Bedroom Units: 4
Avg Rent: 1700
Avg SqFt: 822
# Baths: Yes

Structure

Bedrooms Total: 8
Bathrooms Total: 4

Income Expenses

Gross Annual Sch Inc: 81600
Net Operating Income: 66358

Showing Notification Methods

Showing Service: No Showing Service Used

Sold Info

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

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

Office Phone: 480-649-3536

Last Updated: May - 15 - 2025