2017 E LEMON Street, Tempe, AZ 85281

$875,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $875,000 Last Modified: 8/01/2025

Overview

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.

Listing Details MLS# 6882948

Location, Tax & Legal

House Number
2017
Compass
E
Street Name
LEMON
St Suffix
Street
City/Town Code
Tempe
State/Province
AZ
Zip Code
85281
Zip4
4851
Country
US
County Code
Maricopa
Subdivision
ZELLA VISTA
Assessor Number
132-70-160
Tax Year
2024
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

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
irr
Year Built
1961
Uncvrd Parking Spcs
5
Total # of Units
5
# of Buildings
2
Zoning
Multi
High School District
Tempe Union High School District

Remarks Misc

Cross Street
101 & Apache

Status Change Info

Off Market Date
2025-07-26
Under Contract Date
2025-07-09
Close of Escrow Date
2025-07-31

Legal Info

Township
1N
Range
4E
Section
24
Lot Number
10

More Information

Income Expenses

Gross Annual Sch Inc
57600
Net Operating Income
43834

Showing Notification Methods

Showing Service
Non-MLS Showing Service - See Private Remarks

1 Bedroom Units

# 1 Bedroom Units
2
Avg Rent
842
# Baths
Yes

2 Bedroom Units

# 2 Bedroom Units
3
Avg Rent
1038
# Baths
Yes

Sold Info

Loan Type
Carryback
Loan Years
15
Payment Type
Fixed
Closing Cost Split
Normal - N
Buyer Concession $/%
$
Seller Concession to Buyer
5000
Seller Concession $/%
$
Buyer Concession to Seller
0

Project Type

5 - 12 Units
Yes

Construction

Block
Yes

Const - Finish

Painted
Yes

Roofing

Composition
Yes

Floors

Ceramic Tile
Yes

Sale Includes

Land & Building
Yes
Personal Property
Yes

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

Lockbox Type

See Private Remarks
Yes
None
Yes

Community Features

No Pool
Yes

Heating

Heat Pump
Yes
Electric
Yes
Individual
Yes

Cooling

Electric
Yes
Heat Pump
Yes
Individual
Yes

Exterior Amenities

Desert Landscaping
Yes
Partially Fenced
Yes
Cable TV Available
Yes

Interior Features

Unfurnished
Yes

Tenant Pays

Gas
Yes
Electricity
Yes
Cable TV
Yes

Appliances Included

Refrigerator
Yes
Free-Standing Range
Yes

Road Surface Type

Asphalt
Yes

Source of Fincl Data

Owner
Yes

Water Source

City Franchise
Yes

Sewer

Sewer - Public
Yes

Parking Features

1 Space/Unit
Yes

Electric

SRP
Yes
Individual Meter
Yes

Gas

SW Gas
Yes
Individual Meter
Yes

Owner Pays

Water
Yes
Sewer
Yes
Trash Collection
Yes
Landscaping
Yes

New Financing

Conventional
Yes
No Carry
Yes

Existing 1st Loan

Conventional
Yes

Existing 1st Loan Type

Not Applicable
Yes

Existing 1st Loan Terms

Not Applicable
Yes

Existing 2nd Loan

Treat as Free&Clear
Yes

Existing 2nd Loan Type

Not Applicable
Yes

Existing 2nd Loan Terms

Not Applicable
Yes

Existing 3rd Loan

Treat as Free&Clear
Yes

Existing 3rd Loan Type

Not Applicable
Yes

Reports/Disclosures

Seller Prop Disc Stm
Yes

Existing 3rd Loan Terms

Not Applicable
Yes

Environmental

None
Yes

Existing Othr Ln Trm

Not Applicable
Yes

Efficiency Units

Avg Rent
0

3 Bedrooms Units

Avg Rent
0

4 Bedrooms Units

Avg Rent
0

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
IDX
Listing Office: Matthews Real Estate Investment Services
Last Updated: August - 01 - 2025
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