1978 E DON CARLOS Avenue, Tempe, AZ 85281

$900,000

Property Type: Multiple Dwellings Bedrooms: 8 Baths: 4 Status: Closed

Current Price: $900,000 Last Modified: 5/18/2025

Overview

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!

Listing Details MLS# 6665930

Location, Tax & Legal

House Number: 1978
Compass: E
Street Name: DON CARLOS
St Suffix: Avenue
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 4765
Country: US
County Code: Maricopa
Subdivision: RANCHO EL DORADO 1-26, 36-44
Assessor Number: 132-67-039-C
Tax Year: 2023

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

Remarks Misc

Cross Street: University & Smith Road

Status Change Info

Off Market Date: 2024-03-30
Under Contract Date: 2024-02-27
Close of Escrow Date: 2024-03-29

Legal Info

Township: 1N
Range: 4E
Section: 24
Lot Number: 35

More Information

2 Bedroom Units

# 2 Bedroom Units: 4
Avg Rent: 1200
Avg SqFt: 700
# Baths: Yes

Structure

Bedrooms Total: 8
Bathrooms Total: 4

Income Expenses

Gross Annual Sch Inc: 58680
Net Operating Income: 41128

Showing Notification Methods

Showing Service: Aligned Showings

Sold Info

Loan Type: Conventional
Loan Years: 30
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $

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

Office Phone: 888-897-7821

Office Email: az.broker@exprealty.net

Last Updated: May - 18 - 2025