1973 E 10TH Street, Tempe, AZ 85281 (MLS# 6752006)

1973 E 10TH Street, Tempe, AZ 85281

$829,000

1973-East-10th-Street-Tempe-AZ-85281-inf

Property Type: Multiple Dwellings Status: Closed

Current Price: $829,000 List Date: 9/04/2024 Last Modified: 12/28/2024

Overview

Description

Prime Corner Lot 4Plex! Just minutes from ASU and the Light Rail, this single-story fourplex s a fantastic find for investors /developers.Each of the 2 Bed/1 Bath, 644 SqFt units is fully tiled and includes a private yard and storage space. Located on a corner lot, the property is surrounded by significant new development, attracting long-term tenants. With the potential to increase rents in a rapidly appreciating market, this property is a smart investment. While the laundry facility is currently inactive, it could be revived to generate additional income with coin-operated machines. Whether you're looking to start or expand your real estate portfolio, this fourplex has great potential. Two units has been updated with a new kitchen, flooring, lighting, and AC.Drive By Only.

Listing Details MLS# 6752006

Location, Tax & Legal

House Number: 1973
Compass: E
Street Name: 10TH
St Suffix: Street
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 4437
Country: US
County Code: Maricopa
Subdivision: O C WATSON TRACT
Assessor Number: 132-64-010-D
Tax Year: 2023
Assessor's Map #: 64
Legal Description (Abbrev): TH PT NE4 NW4 SEC 24 DAF BEG PT OF INTERSEC S LI 10TH ST & E LI NE4 NW4 SD PT 236.14F N FR SE COR NE
Assessor's Parcel #: 10
Assessor Parcel Ltr: D
Add'l Parcels: No
Tax Municipality: Tempe
Census Tract: 319201
Taxes: 1849
Legal: TH PT NE4 NW4 SEC 24 DAF BEG PT OF INTERSEC S LI 10TH ST & E LI NE4 NW4 SD PT 236.14F N FR SE
Marketing Name: Tempe Fourplex

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: .27 / 11,761
Year Built: 1963
Uncvrd Parking Spcs: 6
Total # of Units: 4
# of Buildings: Yes
Zoning: M-H / R-3
Flood Zone: No
High School District: Tempe Union High School District
High School: McClintock High School

Remarks Misc

Cross Street: S.McClintock Rd/ S. Smith Rd
Directions: From 101 North Price Fwy, Exit Apache Blvd. Head West on Apache Blvd. and Turn North on S. Smith Rd. and then West on 10th St.

Status Change Info

Off Market Date: 2024-12-17
Under Contract Date: 2024-12-08
Close of Escrow Date: 2024-12-27

Legal Info

Township: 1N
Range: 4E
Section: 24
Lot Number: N/A

More Information

Income Expenses

Gross Annual Sch Inc: 48600
Net Operating Income: 35363

Showing Notification Methods

Showing Service: Aligned Showings
Text: Yes
Phone Call: Yes

2 Bedroom Units

# 2 Bedroom Units: 4
Avg Rent: 1000
Avg SqFt: 644
# Baths: Yes

Contact Info

List Agent Home Phn: 818-687-0196

Sold Info

Loan Type: Conventional
Loan Years: 30
Payment Type: Fixed
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
Brick: Yes

Const - Finish

Brick Veneer: Yes

Roofing

Other: Yes

Floors

Ceramic Tile: Yes

Sale Includes

Land & Building: Yes
Personal Property: Yes
Laundry Equipment: Yes

Income & Expenses

Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 1500
Annual Land Lse Exp: 0
Annual Landscape Exp: 1440
Annual Legal & Acctg: 0
Annual Maint Exp: 0
Annual Mgmt Exp: 0
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 3000
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 7789
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 46170
Total Monthly Rental Income: 48600

Pmt & Rate Info

Cap Rate: 4.16
Down Payment: 0
Equity: 850000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0

Lockbox Type

See Private Remarks: Yes

Community Features

No Pool: Yes

Heating

Electric: Yes

Cooling

Central Air: Yes
Electric: Yes
2 or More Units: Yes

Exterior Amenities

Landscape Water System: Yes
Green Landscaping: Yes
Partially Fenced: Yes
Patio/Balcony: Yes

Interior Features

Unfurnished: Yes

Tenant Pays

Electricity: Yes
Cable TV: Yes

Appliances Included

Refrigerator: Yes
Free-Standing Range: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes

Water Source

Master Meter: Yes

Sewer

Sewer - Public: Yes

Parking Features

Free: Yes
Paved: Yes

Electric

SRP: Yes

Gas

None: Yes

Owner Pays

Water: Yes
Sewer: Yes
Trash Collection: Yes
Landscaping: Yes

New Financing

Cash: Yes
VA: Yes
Conventional: Yes
FHA: Yes
No Carry: Yes

Special

Estate Sale: Yes
Court Approval Required: Yes

Existing 1st Loan

Treat as Free&Clear: Yes

Existing 1st Loan Type

Not Applicable: Yes

Existing 1st Loan Terms

Not Applicable: Yes

Existing 2nd Loan

Other (See Remarks): Yes

Existing 2nd Loan Type

Not Applicable: Yes

Existing 2nd Loan Terms

Not Applicable: Yes

Existing 3rd Loan

Other (See Remarks): Yes

Existing 3rd Loan Type

Not Applicable: Yes

Reports/Disclosures

None: Yes

Existing 3rd Loan Terms

Not Applicable: Yes

Environmental

None: Yes

Existing Othr Ln Trm

Not Applicable: Yes

Efficiency Units

Avg Rent: 0

1 Bedroom Units

Avg Rent: 0

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: Four Plex Construction: Block; Brick Const - Finish: Brick Veneer Roofing: Other Floors: Ceramic Tile Sale Includes: Land & Building; Personal Property; Laundry Equipment Community Features: No Pool Exterior Amenities: Landscape Water System; Green Landscaping; Partially Fenced; Patio/Balcony Interior Features: Unfurnished Appliances Included: Free-Standing Range; Refrigerator Cooling: Electric; Central Air; 2 or More Units Water Source: Master Meter Sewer: Sewer - Public Electric: SRP Gas: None Parking Features: Free; Paved Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity; Cable TV Source of Fincl Data: Owner Special: Estate Sale; Court Approval Required Showing Notification Methods: Text; Phone Call 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: Other (See Remarks) Existing 2nd Loan Type: Not Applicable Existing 2nd Loan Terms: Not Applicable Existing 3rd Loan: Other (See Remarks) Existing 3rd Loan Type: Not Applicable Existing 3rd Loan Terms: Not Applicable Existing Othr Ln Trm: Not Applicable New Financing: Cash; VA; FHA; Conventional; No Carry Environmental: None

Listing Office: Compass

Last Updated: December - 28 - 2024