141 W 9TH Street, Tempe, AZ 85281 (MLS# 6423390)

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

Overview

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!

Listing Details MLS# 6423390

Location, Tax & Legal

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
Country: US
County Code: Maricopa
Subdivision: GAGE ADD 22, 27
Assessor Number: 132-42-055-A
Tax Year: 2021
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!

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 128 X 99
Year Built: 1921
Total # of Units: 4
# of Buildings: 2
Zoning: R3
Elementary School District: Tempe Elementary School District
Elementary School: Tavan Elementary School
High School: Tempe High School
Uncvrd Parking Spcs: 0

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.

Status Change Info

Off Market Date: 2022-09-26
Under Contract Date: 2022-09-25
Close of Escrow Date: 2022-11-15

Legal Info

Township: 1N
Range: 4E
Section: 22
Block: 29
Lot Number: Yes

More Information

Income Expenses

Gross Annual Sch Inc: 71748
Net Operating Income: 37830.28

Efficiency Units

# Efficiency Units: Yes
Avg Rent: 900
Avg SqFt: 375
# Baths: Yes

1 Bedroom Units

# 1 Bedroom Units: Yes
Avg Rent: 1064
Avg SqFt: 700
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: Yes
Avg Rent: 1530
Avg SqFt: 1270
# Baths: 2

3 Bedrooms Units

# 3 Bedroom Units: Yes
Avg Rent: 2485
Avg SqFt: 1670
# Baths: 2

Sold Info

Loan Type: Carryback
Loan Years: 10
Payment Type: Interest Only
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Buyer Concession to Seller: 0
Seller Concession to Buyer: 0

Project Type

Four Plex: Yes

Construction

Block: Yes

Const - Finish

Painted: Yes

Roofing

Composition: Yes

Floors

Wood: Yes
Carpet: Yes

Sale Includes

Building(s) Only: Yes

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: Yes

Lockbox Type

None: Yes

Community Features

No Pool: Yes

Heating

Electric: Yes

Cooling

Central Air: Yes

Exterior Amenities

Green Landscaping: Yes
Patio/Balcony: Yes

Interior Features

Unfurnished: Yes
Fire/Smoke Alarm(s): Yes

Tenant Pays

None: Yes
Other (See Remarks): Yes

Appliances Included

Refrigerator: Yes
Washer/Dryer: Yes
W/D Hookup: Yes

Road Surface Type

Gravel: Yes

Source of Fincl Data

Owner: Yes
Projected Proforma: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

Garage: Yes
On Street: Yes

Electric

SRP: Yes

Gas

SW Gas: Yes

Owner Pays

Water: Yes
Sewer: Yes
Electric: Yes
Gas: Yes
Trash Collection: Yes
Landscaping: Yes

New Financing

Conventional: Yes
Owner May Carry: Yes

Existing 1st Loan

Treat as Free&Clear: Yes

Existing 1st Loan Terms

Not Applicable: Yes

Reports/Disclosures

None: Yes

Environmental

None: Yes

4 Bedrooms Units

Avg Rent: 0

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