141 W 9TH Street, Tempe, AZ 85281
$1,420,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$1,420,000
List Date:
6/27/2022
Last Modified:
7/25/2025
Description
Location, location Location! This prime property is walking distance to ASU, Gammage & downtown Tempe! Excellent value add opportunity or redevelopment opportunity as you can't beat this popular location! OR live in the large main home & then have the rent from the other 3 units help pay your mortgage! This classic property, which may be eligible to be on the city's historic property registry, consists of 4 units total with 2 separate buildings: One 3 bed 2 bath home with 2 car garage with a 1 bed 1 bath unit above the garage, plus a 2 bed 2 bath home with a studio unit on the back side. The adjacent property lot at 905 S Ash Ave is also available & may be sold together or separately. If purchased together, that would make 7 units total between the two properties!
More Information MLS# 6423390
Contract Info
Ownership: Fee Simple
Current Price: $1,420,000
Sold Price: $1,420,000
Status: Closed
List Date: 2022-06-23
Location, Tax & Legal
Assessor's Map #: 42
Legal Description (Abbrev): LOT 1 BLOCK 29 GAGE ADD 22, 27 MCR 000358
Assessor's Parcel #: 55
Assessor Parcel Ltr: A
Add'l Parcels: No
Tax Municipality: Tempe
Census Tract: 319000
Taxes: 4238
Legal: LOT 1 BLOCK 29 GAGE ADD 22, 27 MCR 000358
Marketing Name: Prime 4 unit Tempe Dream!
Map Code/Grid: R37
House Number: 141
Compass: W
Street Name: 9TH
St Suffix: Street
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 5480
County Code: Maricopa
Subdivision: GAGE ADD 22, 27
Assessor Number: 132-42-055-A
Tax Year: 2021
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 0
Lot Size Dimensions: 128 X 99
Total # of Units: 4
Elementary School District: Tempe Elementary School District
Elementary School: Tavan Elementary School
High School: Tempe High School
Year Built: 1921
Zoning: R3
Legal Info
Range: 4E
Section: 22
Township: 1N
Block: 29
Lot Number: 1
Project Type
Four Plex: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Wood: 1
Carpet: 1
Sale Includes
Building(s) Only: 1
Income & Expenses
Annual Elec Exp: 5086
Annual Gas Exp: 1244
Annual Ins Exp: 3200
Annual Landscape Exp: 1680
Annual Maint Exp: 5000
Annual Mgmt Exp: 5432.32
Annual Wtr/Swr Exp: 2950
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual Other Expense: 1500
Operating Exp: 30330.32
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 68160.6
Total Monthly Rental Income: 71748
Pmt & Rate Info
Cap Rate: 2.52
Equity: 1500000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Email: 1
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Electric: 1
Cooling
Central Air: 1
Exterior Amenities
Green Landscaping: 1
Patio/Balcony: 1
Interior Features
Unfurnished: 1
Fire/Smoke Alarm(s): 1
Tenant Pays
None: 1
Other (See Remarks): 1
Appliances Included
Refrigerator: 1
Washer/Dryer: 1
W/D Hookup: 1
Road Surface Type
Gravel: 1
Source of Fincl Data
Owner: 1
Projected Proforma: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Garage: 1
On Street: 1
Electric
SRP: 1
Gas
SW Gas: 1
Owner Pays
Water: 1
Sewer: 1
Electric: 1
Gas: 1
Trash Collection: 1
Landscaping: 1
New Financing
Conventional: 1
Owner May Carry: 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Loan Terms
Not Applicable: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Efficiency Units
# Efficiency Units: 1
Avg Rent: 900
Avg SqFt: 375
# Baths: 1
1 Bedroom Units
# 1 Bedroom Units: 1
Avg Rent: 1064
Avg SqFt: 700
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 1
Avg Rent: 1530
Avg SqFt: 1270
# Baths: 2
3 Bedrooms Units
# 3 Bedroom Units: 1
Avg Rent: 2485
Avg SqFt: 1670
# Baths: 2
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Carryback
Loan Years: 10
Closing Cost Split: Normal - N
Payment Type: Interest Only
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: Mill and University
Directions: From Mill Ave and University Dr, take a left at Mill Ave, Take a left at Ash Ave, take a left at 9th St, property will be on the left.
Geo Lat: 33.420237
Geo Lon: -111.942038
Status Change Info
Off Market Date: 2022-09-26
Under Contract Date: 2022-09-25
Close of Escrow Date: 2022-11-15
Sold Price: $1,420,000
Income Expenses
Gross Annual Sch Inc: 71748
Net Operating Income: 37830.28
Property Features
Project Type: Four Plex
Construction: Block
Const - Finish: Painted
Roofing: Composition
Floors: Wood; Carpet
Sale Includes: Building(s) Only
Community Features: No Pool
Exterior Amenities: Green Landscaping; Patio/Balcony
Interior Features: Unfurnished; Fire/Smoke Alarm(s)
Appliances Included: Refrigerator; Washer/Dryer; W/D Hookup
Cooling: Central Air
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: SW Gas
Parking Features: Garage; On Street
Road Surface Type: Gravel
Owner Pays: Water; Electric; Gas; Trash Collection; Landscaping
Tenant Pays: None; Other (See Remarks)
Source of Fincl Data: Owner; Projected Proforma
Showing Notification Methods: Email
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
Existing 1st Loan Terms: Not Applicable
New Financing: Conventional; Owner May Carry
Environmental: None
Listing Office:
Rosenbaum Realty Group
Last Updated: July - 25 - 2025
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