1978 E DON CARLOS Avenue, Tempe, AZ 85281
$607,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$607,000
Last Modified:
5/01/2019
Description
Cash flowing Tempe 4 Plex fully leased income property. All 2 bed / 1 bath with in suite Washer & Dryer. INDIVIDUALLY METERED FOR WATER & ELECTRICITY. Owner does not pay any utilities. Located to new development in Tempe, near Arizona State University (ASU), Tempe Town Lake, and close to Mill Ave. Property is fully renovated with new tile floors, washer / dryer, roof, stainless steel appliances, backsplash, granite countertops, etc. Desert landscaping for low maintenance.
More Information MLS# 5874422
Contract Info
Ownership: Fee Simple
Current Price: $607,000
Sold Price: $607,000
Status: Closed
List Date: 2019-01-28
Location, Tax & Legal
Assessor's Map #: 67
Legal Description (Abbrev): RANCHO EL DORADO PT LOT 35 E 70.45' EX N 175'
Assessor's Parcel #: 39
Assessor Parcel Ltr: C
Add'l Parcels: No
Tax Municipality: Tempe
Census Tract: 319201
Taxes: 1771
Legal: RANCHO EL DORADO PT LOT 35 E 70.45' EX N 175'
Marketing Name: Oak Street Apartments
Map Code/Grid: R37
House Number: 1978
Compass: E
Street Name: DON CARLOS
St Suffix: Avenue
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
County Code: Maricopa
Subdivision: RANCHO EL DORADO 26-35, 45-53
Assessor Number: 132-67-039-C
Tax Year: 2018
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 6
Lot Size Dimensions: 124x70
Total # of Units: 4
Elementary School District: Tempe Elementary School District
High School District: Tempe Union High School District
Year Built: 1974
Zoning: R-4
Legal Info
Range: 4E
Section: 24
Township: 1N
Lot Number: 35
Project Type
Four Plex: 1
Construction
Brick: 1
Const - Finish
Other (See Remarks): 1
Roofing
Other: 1
Floors
Other: 1
Sale Includes
Other (See Remarks): 1
Income & Expenses
Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 800
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 2200
Annual Mgmt Exp: 3613
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 0
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 800
Annual Other Expense: 0
Operating Exp: 9184
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 52440
Pmt & Rate Info
Cap Rate: 6.23
Down Payment: 0
Equity: 660000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Community Features
No Pool: 1
Heating
Central: 1
Cooling
Central Air: 1
Exterior Amenities
Other (See Remarks): 1
Interior Features
Other (See Remarks): 1
Tenant Pays
Gas: 1
Water: 1
Sewer: 1
Electricity: 1
Trash Collection: 1
Cable TV: 1
Appliances Included
Refrigerator: 1
Free-Standing Range: 1
Washer/Dryer: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Projected Proforma: 1
Water Source
Individual Meter: 1
Sewer
Other: 1
Parking Features
1 Space/Unit: 1
Electric
Individual Meter: 1
Gas
Individual Meter: 1
Owner Pays
Landscaping: 1
New Financing
Other (See Remarks): 1
Existing 1st Loan
Other (See Rmks): 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 1
Existing 2nd Loan
Other (See Remarks): 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Other (See Remarks): 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
Other (See Remarks): 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
Other (See Remarks): 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 4
Avg Rent: 1150
Avg SqFt: 700
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Conventional
Loan Years: 30
Closing Cost Split: Normal - N
Payment Type: Other
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Geo Lat: 33.417783
Geo Lon: -111.900698
Status Change Info
Off Market Date: 2019-04-29
Under Contract Date: 2019-04-22
Close of Escrow Date: 2019-04-30
Sold Price: $607,000
Income Expenses
Gross Annual Sch Inc: 55200
Net Operating Income: 41128
Property Features
Project Type: Four Plex
Construction: Brick
Const - Finish: Other (See Remarks)
Roofing: Other
Floors: Other
Sale Includes: Other (See Remarks)
Community Features: No Pool
Exterior Amenities: Other (See Remarks)
Interior Features: Other (See Remarks)
Appliances Included: Free-Standing Range; Refrigerator; Washer/Dryer
Heating: Central
Cooling: Central Air
Water Source: Individual Meter
Sewer: Other
Electric: Individual Meter
Gas: Individual Meter
Parking Features: 1 Space/Unit
Road Surface Type: Asphalt
Owner Pays: Landscaping
Tenant Pays: Water; Sewer; Electricity; Gas; Trash Collection; Cable TV
Source of Fincl Data: Projected Proforma
Existing 1st Loan: Other (See Rmks)
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: Other (See Remarks)
Environmental: Other (See Remarks)
Listing Office:
ABI Multifamily
Last Updated: May - 01 - 2019
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