2011 S FOREST Avenue, Tempe, AZ 85282 (MLS# 6321399)

2011 S FOREST Avenue, Tempe, AZ 85282

$955,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $955,000 Last Modified: 3/30/2025

Overview

Description

Amazing opportunity! 3 units in the heart of ASU/Tempe area! Large lot: over HALF AN ACRE! One Duplex, and one detached, stand alone house. Each unit is approx. 830 - 847sqft, all have 2 bedrooms, 1 bathroom, nice kitchens, & great room. Recent work has been done, newer roofs, newer AC units, water heaters, the Duplex was fully painted interior and exterior. Landscape has been converted to awesome desert low maintenance, each unit has a large privately fenced back yard! Private car ports for each unit, and enough parking for at least 1 other vehicle at each unit without parking in street. Amazing turn key investment property! OR, eventually build a larger building with more units! The location could not be better!

Listing Details MLS# 6321399

Location, Tax & Legal

Map Code/Grid: R37
House Number: 2011
Compass: S
Street Name: FOREST
St Suffix: Avenue
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85282
Zip4: 1312
Country: US
County Code: Maricopa
Subdivision: BROADMOOR ANNEX
Assessor Number: 133-23-001-B
Tax Year: 2021
Assessor's Map #: 23
Legal Description (Abbrev): LOT 1 BROADMOOR ANNEX MCR 006445
Assessor's Parcel #: 1
Assessor Parcel Ltr: B
Add'l Parcels: No
Tax Municipality: Tempe
Census Tract: 319600
Taxes: 1948
Legal: LOT 1 BROADMOOR ANNEX MCR 006445
Marketing Name: 2011,2013,2019 Forest

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 233.57'-85.92'-243'-93'
Year Built: 1958
Uncvrd Parking Spcs: 3
Total # of Units: 3
# of Buildings: 2
Zoning: [M-H] [R-3]
Flood Zone: No
Elementary School District: Tempe Elementary School District
High School District: Tempe Union High School District
Elementary School: Broadmor Elementary School
Jr. High School: Tempe Academy Of International Studies McKemy Campus
High School: Tempe High School

Remarks Misc

Cross Street: BROADWAY AND MILL AVE
Directions: Traveling east on Broadway from Mill ave, turn south onto Forest ave. Property is on the left (east side) sign on property.

Status Change Info

Off Market Date: 2022-02-16
Under Contract Date: 2022-01-05
Close of Escrow Date: 2022-02-10

Legal Info

Township: 1N
Range: 4E
Section: 27
Lot Number: Yes

More Information

Income Expenses

Gross Annual Sch Inc: 38940
Net Operating Income: 36000

2 Bedroom Units

# 2 Bedroom Units: 3
Avg Rent: 1200
Avg SqFt: 840
# Baths: 2

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

Duplex: Yes

Other Type

House + Rental Units: Yes

Construction

Block: Yes
Brick: Yes

Const - Finish

Painted: Yes
Stucco: Yes

Roofing

Composition: Yes

Floors

Ceramic Tile: Yes

Sale Includes

Land & Building: Yes

Income & Expenses

Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 1948
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 36993

Pmt & Rate Info

Cap Rate: 3.6
Equity: 1000000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0

Showing Notification Methods

Phone Call: Yes

Lockbox Type

None: Yes

Community Features

Pool: Yes

Heating

Electric: Yes
Natural Gas: Yes

Cooling

Central Air: Yes

Exterior Amenities

Fenced: Yes

Tenant Pays

Gas: Yes
Electricity: Yes
Cable TV: Yes

Appliances Included

Refrigerator: Yes
Built-In Range: Yes

Road Access Type

Alley: Yes

Road Surface Type

Asphalt: Yes
Concrete: Yes

Source of Fincl Data

Other (See Remarks): Yes

Water Source

City Franchise: Yes
Individual Meter: Yes

Sewer

Sewer - Public: Yes

Parking Features

Carport: Yes
1 Space/Unit: Yes
>1 Space Per Unit: Yes

Electric

SRP: Yes

Gas

SW Gas: Yes

Owner Pays

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

New Financing

Conventional: Yes
1031 Exchange: Yes

Existing 1st Loan

Treat as Free&Clear: Yes

Reports/Disclosures

None: Yes

Environmental

None: 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: Duplex Other Type: House + Rental Units Construction: Block; Brick Const - Finish: Painted; Stucco Roofing: Composition Floors: Ceramic Tile Sale Includes: Land & Building Community Features: Pool Exterior Amenities: Fenced Appliances Included: Built-In Range; Refrigerator Heating: Natural Gas Cooling: Central Air Water Source: City Franchise; Individual Meter Sewer: Sewer - Public Electric: SRP Gas: SW Gas Parking Features: Carport; 1 Space/Unit; >1 Space Per Unit Road Access Type: Alley Road Surface Type: Asphalt; Concrete Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity; Gas; Cable TV Source of Fincl Data: Other (See Remarks) Showing Notification Methods: Phone Call Lockbox Type: None Existing 1st Loan: Treat as Free&Clear New Financing: Conventional; 1031 Exchange Environmental: None

Listing Office: Arizona Haciendas Real Estate Co.

Last Updated: March - 30 - 2025