1513 W 7TH Place, Tempe, AZ 85281
$570,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$570,000
Last Modified:
10/22/2025
Description
Great investment opportunity with this Tempe Triplex by ASU, located near Priest & University. All are spacious 2 Bed/1 Bath units & the property is on a large lot. Units are individually metered for gas & electric, plus there is a shared laundry room. **Do not disturb tenants**
More Information MLS# 6884237
Contract Info
Ownership: Fee Simple
Current Price: $570,000
Sold Price: $570,000
Status: Closed
List Date: 2025-06-23
Location, Tax & Legal
Assessor's Map #: 72
Legal Description (Abbrev): LOT 322 LINDON PARK 9 MCR 008848
Assessor's Parcel #: 144
Assessor Parcel Ltr: A
Add'l Parcels: No
Tax Municipality: Tempe
Census Tract: 319704
Taxes: 2149
Legal: LOT 322 LINDON PARK 9 MCR 008848
Marketing Name: 7th Place Apartments
House Number: 1513
Compass: W
Street Name: 7TH
St Suffix: Place
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 3242
County Code: Maricopa
Subdivision: LINDON PARK 9
Assessor Number: 124-72-144-A
Tax Year: 2024
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 3
Lot Size Dimensions: Irr
Total # of Units: 3
High School District: Tempe Union High School District
Year Built: 1972
Zoning: Multi
Legal Info
Range: 4E
Section: 17
Township: 1N
Lot Number: 322
Project Type
Tri-Plex: 1
Construction
Block: 1
Brick: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Concrete: 1
Ceramic Tile: 1
Carpet: 1
Sale Includes
Land & Building: 1
Personal Property: 1
Laundry Equipment: 1
Income & Expenses
Annual Ins Exp: 1500
Annual Landscape Exp: 720
Annual Maint Exp: 3600
Annual Mgmt Exp: 1800
Annual Wtr/Swr Exp: 1950
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 11719
Other Income: 600
Vacancy Allowance: 0.03
Adjusted Gross Inc: 37539
Total Monthly Rental Income: 3175
Pmt & Rate Info
Cap Rate: 4.1
Equity: 630000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: No Showing Service Used
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Electric: 1
Cooling
Heat Pump: 1
Exterior Amenities
Green Landscaping: 1
Desert Landscaping: 1
Interior Features
Unfurnished: 1
Tenant Pays
Gas: 1
Electricity: 1
Appliances Included
Refrigerator: 1
Free-Standing Range: 1
Road Surface Type
Concrete: 1
Source of Fincl Data
Other (See Remarks): 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
1 Space/Unit: 1
Electric
SRP: 1
Gas
SW Gas: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
New Financing
Cash: 1
Conventional: 1
1031 Exchange: 1
Reports/Disclosures
Seller Prop Disc Stm: 1
APOD/Backup Avaible: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 3
Avg Rent: 1058
Avg SqFt: 803
# 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: 54000
Seller Concession $/%: $
Remarks Misc
Cross Street: Priest & University
Directions: Property is located near the NE corner of Priest & University.
Geo Lat: 33.422629
Geo Lon: -111.963212
Status Change Info
Off Market Date: 2025-09-24
Under Contract Date: 2025-09-23
Close of Escrow Date: 2025-10-21
Sold Price: $570,000
Income Expenses
Gross Annual Sch Inc: 38100
Net Operating Income: 25820
Property Features
Project Type: Tri-Plex
Construction: Block; Brick
Const - Finish: Painted
Roofing: Composition
Floors: Concrete; Ceramic Tile; Carpet
Sale Includes: Land & Building; Personal Property; Laundry Equipment
Community Features: No Pool
Exterior Amenities: Green Landscaping; Desert Landscaping
Interior Features: Unfurnished
Appliances Included: Free-Standing Range; Refrigerator
Cooling: Heat Pump
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: SW Gas
Parking Features: 1 Space/Unit
Road Surface Type: Concrete
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity; Gas
Source of Fincl Data: Other (See Remarks)
Lockbox Type: None
New Financing: Cash; Conventional; 1031 Exchange
Environmental: None
Listing Office:
Realty ONE Group
Last Updated: October - 22 - 2025
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