1321 W 5th Street, Tempe, AZ 85281
$827,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$827,000
Last Modified:
9/19/2025
Description
Incredible Tempe investment opportunity! This fully leased, single story 4-plex features long-term, reliable tenants & has been professionally managed for years. All tenants are current on rent, some under market. Major updates, including roof and all AC units, were completed in 2018. Ideally located minutes from ASU, downtown Tempe, Tempe Town Lake, major freeways (Loop 202, 101 & I-10) and multiple bus lines. Quick access to top area employers like State Farm, ADP, Amazon, and Wells Fargo. Covered and uncovered parking at rear of property and shared laundry facility on site. Plus, room to add Tenant value with some interior and exterior cosmetic updates, reflected in list price. This property offers strong value in one of the Valley's most sought-after rental markets.
More Information MLS# 6885871
Contract Info
Ownership: Fee Simple
Current Price: $827,000
Sold Price: $827,000
Status: Closed
List Date: 2025-06-27
Location, Tax & Legal
Assessor's Map #: 37
Assessor's Parcel #: 4
Assessor Parcel Ltr: F
Add'l Parcels: No
Tax Municipality: Tempe
Taxes: 2641
Legal: State Plat no 12 AMD Lot 38 TH W 70' OF TH E 419' EX S 115' .26 AC C
Marketing Name: Incredible location!
House Number: 1321
Compass: W
Street Name: 5th
St Suffix: Street
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
County Code: Maricopa
Assessor Number: 124-37-004-F
Tax Year: 2024
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 4
Lot Size Dimensions: 11326
Total # of Units: 4
Elementary School District: Tempe School District
High School District: Tempe Union High School District
Elementary School: Scales Technology Academy
Jr. High School: Geneva Epps Mosley Middle School
High School: Tempe High School
Year Built: 1970
Zoning: Multi-Family
Project Type
Four Plex: 1
Construction
Block: 1
Const - Finish
Painted: 1
Stucco: 1
Roofing
Built-Up: 1
Rolled: 1
Floors
Vinyl: 1
Ceramic Tile: 1
Sale Includes
Land & Building: 1
Laundry Equipment: 1
Income & Expenses
Annual Elec Exp: 350
Annual Gas Exp: 320
Annual Ins Exp: 2500
Annual Landscape Exp: 2400
Annual Mgmt Exp: 4300
Annual Wtr/Swr Exp: 2700
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 15211
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 4490
Pmt & Rate Info
Cap Rate: 5.99
Equity: 899000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: Aligned Showings
Lockbox Type
Supra: 1
Community Features
No Pool: 1
Heating
Natural Gas: 1
Cooling
Ceiling Fan(s): 1
Electric: 1
Exterior Amenities
Landscape Water System: 1
Desert Landscaping: 1
Partially Fenced: 1
Interior Features
Unfurnished: 1
Tenant Pays
Gas: 1
Electricity: 1
Appliances Included
Free-Standing Electric Oven: 1
Refrigerator: 1
Road Access Type
Alley: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
>1 Space Per Unit: 1
Assigned: 1
Electric
SRP: 1
Gas
SW Gas: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
New Financing
Cash: 1
VA: 1
Conventional: 1
FHA: 1
No Carry: 1
Existing 1st Loan
Treat as Free&Clear: 1
Reports/Disclosures
Seller Prop Disc Stm: 1
Environmental
None: 1
Contact Info
List Agent Home Phn: 602-418-2473
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 4
Avg Rent: 1122
Avg SqFt: 700
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Cash
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 Dr & Rio Salado Parkway
Directions: S on Priest to 5th St. E on 5th to (3rd) 4plex on Right- 1321. Follow around to alley in rear for parking.
Geo Lat: 33.42519
Geo Lon: -111.960096
Status Change Info
Off Market Date: 2025-08-20
Under Contract Date: 2025-08-20
Close of Escrow Date: 2025-09-19
Sold Price: $827,000
Legal Info
Lot Number: 38
Income Expenses
Gross Annual Sch Inc: 4490
Net Operating Income: 53880
Property Features
Project Type: Four Plex
Construction: Block
Const - Finish: Painted; Stucco
Roofing: Built-Up; Rolled
Floors: Vinyl; Ceramic Tile
Sale Includes: Land & Building; Laundry Equipment
Community Features: No Pool
Exterior Amenities: Landscape Water System; Desert Landscaping; Partially Fenced
Interior Features: Unfurnished
Appliances Included: Free-Standing Electric Oven; Refrigerator
Heating: Natural Gas
Cooling: Ceiling Fan(s); Electric
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: SW Gas
Parking Features: >1 Space Per Unit; Assigned
Road Access Type: Alley
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity; Gas
Source of Fincl Data: Owner
Lockbox Type: Supra
Existing 1st Loan: Treat as Free&Clear
New Financing: Cash; VA; FHA; Conventional; No Carry
Environmental: None
Listing Office:
Desert Dimensions Properties
Last Updated: September - 19 - 2025
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