2017 E LEMON Street, Tempe, AZ 85281
$875,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$875,000
Last Modified:
8/01/2025
Description
Value-add 5 unit multifamily community right across the street from Culdesac development in Tempe. (3) 2x1 Units at 600 SF, and (2) 1x1 Units at 550 SF. Please reach out with any questions.
More Information MLS# 6882948
Contract Info
Ownership: Fee Simple
Current Price: $875,000
Sold Price: $875,000
Status: Closed
List Date: 2025-06-20
Location, Tax & Legal
Assessor's Map #: 70
Legal Description (Abbrev): ZELLA VISTA LOT 10 N 90'
Assessor's Parcel #: 160
Add'l Parcels: No
Tax Municipality: Tempe
Census Tract: 319201
Taxes: 1938
Legal: LOT 10 ZELLA VISTA MCR 003040
Marketing Name: 2017 E Lemon St
House Number: 2017
Compass: E
Street Name: LEMON
St Suffix: Street
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 4851
County Code: Maricopa
Subdivision: ZELLA VISTA
Assessor Number: 132-70-160
Tax Year: 2024
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 5
Lot Size Dimensions: irr
Total # of Units: 5
High School District: Tempe Union High School District
Year Built: 1961
Zoning: Multi
Legal Info
Range: 4E
Section: 24
Township: 1N
Lot Number: 10
Project Type
5 - 12 Units: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Ceramic Tile: 1
Sale Includes
Land & Building: 1
Personal Property: 1
Income & Expenses
Annual Trash Exp: 0
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Operating Exp: 1938
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 54720
Pmt & Rate Info
Cap Rate: 4.82
Down Payment: 0
Equity: 910000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Showing Notification Methods
Showing Service: Non-MLS Showing Service - See Private Remarks
Lockbox Type
See Private Remarks: 1
None: 1
Community Features
No Pool: 1
Heating
Heat Pump: 1
Electric: 1
Individual: 1
Cooling
Electric: 1
Heat Pump: 1
Individual: 1
Exterior Amenities
Desert Landscaping: 1
Partially Fenced: 1
Cable TV Available: 1
Interior Features
Unfurnished: 1
Tenant Pays
Gas: 1
Electricity: 1
Cable TV: 1
Appliances Included
Refrigerator: 1
Free-Standing Range: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
1 Space/Unit: 1
Electric
SRP: 1
Individual Meter: 1
Gas
SW Gas: 1
Individual Meter: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
New Financing
Conventional: 1
No Carry: 1
Existing 1st Loan
Conventional: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
Seller Prop Disc Stm: 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
# 1 Bedroom Units: 2
Avg Rent: 842
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 3
Avg Rent: 1038
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Carryback
Loan Years: 15
Closing Cost Split: Normal - N
Payment Type: Fixed
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 5000
Seller Concession $/%: $
Remarks Misc
Cross Street: 101 & Apache
Geo Lat: 33.415605
Geo Lon: -111.899546
Status Change Info
Off Market Date: 2025-07-26
Under Contract Date: 2025-07-09
Close of Escrow Date: 2025-07-31
Sold Price: $875,000
Income Expenses
Gross Annual Sch Inc: 57600
Net Operating Income: 43834
Property Features
Project Type: 5 - 12 Units
Construction: Block
Const - Finish: Painted
Roofing: Composition
Floors: Ceramic Tile
Sale Includes: Land & Building; Personal Property
Community Features: No Pool
Exterior Amenities: Desert Landscaping; Partially Fenced; Cable TV Available
Interior Features: Unfurnished
Appliances Included: Free-Standing Range; Refrigerator
Heating: Individual; Heat Pump
Cooling: Electric; Heat Pump; Individual
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP; Individual Meter
Gas: SW Gas; Individual Meter
Parking Features: 1 Space/Unit
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity; Gas; Cable TV
Source of Fincl Data: Owner
Lockbox Type: See Private Remarks; None
Existing 1st Loan: Conventional
Existing 1st Loan Type: Not Applicable
Existing 1st Loan Terms: Not Applicable
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Loan Type: Not Applicable
Existing 2nd Loan Terms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Loan Type: Not Applicable
Existing 3rd Loan Terms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional; No Carry
Environmental: None
Listing Office:
Matthews Real Estate Investment Services
Last Updated: August - 01 - 2025
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