1978 E DON CARLOS Avenue, Tempe, AZ 85281
$900,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$900,000
Last Modified:
5/18/2025
Description
Discover an exceptional investment opportunity with this fully renovated 4plex in the heart of Tempe, Arizona. This turnkey property boasts a consistent rental history, featuring four fully occupied two-bedroom, one-bath units. Three of the units were extensively renovated in 2018, showcasing modern maple cabinetry, elegant quartz countertops, stainless steel appliances, contemporary fixtures, new sinks, upgraded flooring, and fresh paint throughout. Unit D received a complete makeover in 2023, with sleek white shaker cabinetry, quartz countertops, brand-new stainless steel appliances, fully updated bathrooms, and chic wood-tile flooring. The exterior has been enhanced with a fresh coat of paint in 2023, and the parking lot has been redone, ensuring a well-maintained appearance.
Supplements: Situated in a desirable area of Tempe, this fourplex is conveniently located near shopping, dining, and entertainment options. Its proximity to Arizona State University (ASU) makes it an attractive choice for students and faculty, ensuring a consistent demand for rental units. ** each unit is individually metered!
More Information MLS# 6665930
Contract Info
Ownership: Fee Simple
Current Price: $900,000
Sold Price: $900,000
Status: Closed
List Date: 2024-02-19
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: 1977
Legal: RANCHO EL DORADO PT LOT 35 E 70.45' EX N 175'
Marketing Name: Oak Street Apartments
House Number: 1978
Compass: E
Street Name: DON CARLOS
St Suffix: Avenue
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 4765
County Code: Maricopa
Subdivision: RANCHO EL DORADO 1-26, 36-44
Assessor Number: 132-67-039-C
Tax Year: 2023
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
Painted: 1
Roofing
Composition: 1
Floors
Ceramic Tile: 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: 9390
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 55746
Pmt & Rate Info
Cap Rate: 4.6
Down Payment: 0
Equity: 895000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Showing Notification Methods
Showing Service: Aligned Showings
Lockbox Type
See Private Remarks: 1
Community Features
No Pool: 1
Heating
Electric: 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
Disposal: 1
Refrigerator: 1
Free-Standing Range: 1
Washer/Dryer: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
Individual Meter: 1
Sewer
Sewer - Public: 1
Parking Features
1 Space/Unit: 1
Electric
Individual Meter: 1
Gas
None: 1
Owner Pays
Landscaping: 1
New Financing
Conventional: 1
Existing 1st Loan
Treat as Free&Clear: 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
None: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 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: 1200
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: Fixed
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: University & Smith Road
Geo Lat: 33.417775
Geo Lon: -111.900688
Status Change Info
Off Market Date: 2024-03-30
Under Contract Date: 2024-02-27
Close of Escrow Date: 2024-03-29
Sold Price: $900,000
Income Expenses
Gross Annual Sch Inc: 58680
Net Operating Income: 41128
Property Features
Project Type: Four Plex
Construction: Brick
Const - Finish: Painted
Roofing: Composition
Floors: Ceramic Tile
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; Disposal; Washer/Dryer
Cooling: Central Air
Water Source: Individual Meter
Sewer: Sewer - Public
Electric: Individual Meter
Gas: None
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: Owner
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: Conventional
Environmental: None
Listing Office:
eXp Realty
Last Updated: May - 18 - 2025
Copyright 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.