2122 S GRANADA Drive, Tempe, AZ 85282
$707,500
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$707,500
Last Modified:
2/19/2025
Description
If you know the Tempe area, you know THIS is the location to be in as an investor! Located directly next to the highly desirable neighborhood of Broadmor, this single-level, fully occupied 4-unit will be a valuable addition to your investment portfolio whether you're an experienced investor or just starting out. This prime investment opportunity
consists of Three(3)-1bd/1ba units plus One(1) 2bd/1ba unit, each unit with its own convenient dedicated parking spot in the rear, individually metered electric. Many updates throughout! Highly desirable central location with high tenant demand!
Don't miss out on this exceptional opportunity to own a multifamily property in one of Tempe's most sought-after locations! Buyer to verify all facts and figures to their satisfaction.
More Information MLS# 6723731
Contract Info
Ownership: Fee Simple
Current Price: $707,500
Sold Price: $707,500
Status: Closed
List Date: 2024-06-25
Location, Tax & Legal
Assessor's Map #: 25
Legal Description (Abbrev): LOT 9 SUNSET VISTA MCR 007315
Assessor's Parcel #: 21
Add'l Parcels: No
Tax Municipality: Tempe
Census Tract: 319600
Taxes: 2111
Legal: LOT 9 SUNSET VISTA MCR 007315
Marketing Name: Sunset Vista
House Number: 2122
Compass: S
Street Name: GRANADA
St Suffix: Drive
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85282
Zip4: 2258
County Code: Maricopa
Subdivision: SUNSET VISTA
Assessor Number: 133-25-021
Tax Year: 2023
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 4
Lot Size Dimensions: 7283
Total # of Units: 4
Elementary School District: Tempe Elementary School District
High School District: Tempe Union High School District
Year Built: 1961
Zoning: M-H
Legal Info
Range: 4E
Section: 27
Township: 1N
Lot Number: 9
Project Type
Four Plex: 1
Construction
Block: 1
Const - Finish
Other (See Remarks): 1
Roofing
Composition: 1
Floors
Vinyl: 1
Ceramic Tile: 1
Carpet: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Ins Exp: 1200
Annual Landscape Exp: 1440
Annual Maint Exp: 4000
Annual Mgmt Exp: 2400
Annual Trash Exp: 720
Annual Wtr/Swr Exp: 1440
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 13311
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 45771
Pmt & Rate Info
Cap Rate: 3.93
Equity: 825000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: No Showing Service Used
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Other: 1
Cooling
Electric: 1
Window/Wall Unit: 1
Individual: 1
Exterior Amenities
Green Landscaping: 1
Tenant Pays
Gas: 1
Electricity: 1
Appliances Included
Refrigerator: 1
Free-Standing Range: 1
Road Access Type
Alley: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
On Street: 1
1 Space/Unit: 1
Electric
SRP: 1
Gas
SW Gas: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
New Financing
Cash: 1
Conventional: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 3
Avg Rent: 945
Avg SqFt: 500
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 1
Avg Rent: 1200
Avg SqFt: 1200
# 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: 0.5
Seller Concession $/%: %
Remarks Misc
Cross Street: Broadway & Rural
Directions: From Rual, go West on Broadway, left on S Granada. Property is on West side of the street.
Geo Lat: 33.405037
Geo Lon: -111.928216
Status Change Info
Off Market Date: 2025-02-10
Under Contract Date: 2025-01-08
Close of Escrow Date: 2025-02-18
Sold Price: $707,500
Income Expenses
Gross Annual Sch Inc: 48180
Net Operating Income: 32460
Property Features
Project Type: Four Plex
Construction: Block
Const - Finish: Other (See Remarks)
Roofing: Composition
Floors: Vinyl; Ceramic Tile; Carpet
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Green Landscaping
Appliances Included: Free-Standing Range; Refrigerator
Heating: Other
Cooling: Electric; Window/Wall Unit; Individual
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: SW Gas
Parking Features: On Street; 1 Space/Unit
Road Access Type: Alley
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection
Tenant Pays: Electricity; Gas
Source of Fincl Data: Owner
Lockbox Type: None
New Financing: Cash; Conventional
Environmental: None
Listing Office:
Barrett Real Estate
Last Updated: February - 19 - 2025
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