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

Overview

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.

Listing Details MLS# 5874422

Location, Tax & Legal

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
Country
US
County Code
Maricopa
Subdivision
RANCHO EL DORADO 26-35, 45-53
Assessor Number
132-67-039-C
Tax Year
2018
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

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
124x70
Year Built
1974
Uncvrd Parking Spcs
6
Total # of Units
4
# of Buildings
Yes
Zoning
R-4
Elementary School District
Tempe Elementary School District
High School District
Tempe Union High School District

Status Change Info

Off Market Date
2019-04-29
Under Contract Date
2019-04-22
Close of Escrow Date
2019-04-30

Legal Info

Township
1N
Range
4E
Section
24
Lot Number
35

More Information

Income Expenses

Gross Annual Sch Inc
55200
Net Operating Income
41128

2 Bedroom Units

# 2 Bedroom Units
4
Avg Rent
1150
Avg SqFt
700
# Baths
Yes

Sold Info

Loan Type
Conventional
Loan Years
30
Payment Type
Other
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

Brick
Yes

Const - Finish

Other (See Remarks)
Yes

Roofing

Other
Yes

Floors

Other
Yes

Sale Includes

Other (See Remarks)
Yes

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
Yes

Heating

Central
Yes

Cooling

Central Air
Yes

Exterior Amenities

Other (See Remarks)
Yes

Interior Features

Other (See Remarks)
Yes

Tenant Pays

Gas
Yes
Water
Yes
Sewer
Yes
Electricity
Yes
Trash Collection
Yes
Cable TV
Yes

Appliances Included

Refrigerator
Yes
Free-Standing Range
Yes
Washer/Dryer
Yes

Road Surface Type

Asphalt
Yes

Source of Fincl Data

Projected Proforma
Yes

Water Source

Individual Meter
Yes

Sewer

Other
Yes

Parking Features

1 Space/Unit
Yes

Electric

Individual Meter
Yes

Gas

Individual Meter
Yes

Owner Pays

Landscaping
Yes

New Financing

Other (See Remarks)
Yes

Existing 1st Loan

Other (See Rmks)
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

Other (See Remarks)
Yes

Existing 3rd Loan Terms

Not Applicable
Yes

Environmental

Other (See Remarks)
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: 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)
IDX
Listing Office: ABI Multifamily
Last Updated: May - 01 - 2019
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