2122 S GRANADA Drive, Tempe, AZ 85282

$707,500
Property Type: Multiple Dwellings Status: Closed
Current Price: $707,500 Last Modified: 2/19/2025

Overview

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.

Listing Details MLS# 6723731

Location, Tax & Legal

House Number
2122
Compass
S
Street Name
GRANADA
St Suffix
Drive
City/Town Code
Tempe
State/Province
AZ
Zip Code
85282
Zip4
2258
Country
US
County Code
Maricopa
Subdivision
SUNSET VISTA
Assessor Number
133-25-021
Tax Year
2023
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

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
7283
Year Built
1961
Uncvrd Parking Spcs
4
Total # of Units
4
# of Buildings
Yes
Zoning
M-H
Elementary School District
Tempe Elementary School District
High School District
Tempe Union High School District

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.

Status Change Info

Off Market Date
2025-02-10
Under Contract Date
2025-01-08
Close of Escrow Date
2025-02-18

Legal Info

Township
1N
Range
4E
Section
27
Lot Number
9

More Information

Income Expenses

Gross Annual Sch Inc
48180
Net Operating Income
32460

Showing Notification Methods

Showing Service
No Showing Service Used

1 Bedroom Units

# 1 Bedroom Units
3
Avg Rent
945
Avg SqFt
500
# Baths
Yes

2 Bedroom Units

# 2 Bedroom Units
Yes
Avg Rent
1200
Avg SqFt
1200
# Baths
Yes

Sold Info

Loan Type
Conventional
Loan Years
30
Payment Type
Fixed
Closing Cost Split
Normal - N
Buyer Concession $/%
%
Seller Concession to Buyer
0.5
Seller Concession $/%
%
Buyer Concession to Seller
0

Project Type

Four Plex
Yes

Construction

Block
Yes

Const - Finish

Other (See Remarks)
Yes

Roofing

Composition
Yes

Floors

Vinyl
Yes
Ceramic Tile
Yes
Carpet
Yes

Sale Includes

Land & Building
Yes

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

Lockbox Type

None
Yes

Community Features

No Pool
Yes

Heating

Other
Yes

Cooling

Electric
Yes
Window/Wall Unit
Yes
Individual
Yes

Exterior Amenities

Green Landscaping
Yes

Tenant Pays

Gas
Yes
Electricity
Yes

Appliances Included

Refrigerator
Yes
Free-Standing Range
Yes

Road Access Type

Alley
Yes

Road Surface Type

Asphalt
Yes

Source of Fincl Data

Owner
Yes

Water Source

City Franchise
Yes

Sewer

Sewer - Public
Yes

Parking Features

On Street
Yes
1 Space/Unit
Yes

Electric

SRP
Yes

Gas

SW Gas
Yes

Owner Pays

Water
Yes
Sewer
Yes
Trash Collection
Yes

New Financing

Cash
Yes
Conventional
Yes

Reports/Disclosures

None
Yes

Environmental

None
Yes

Efficiency Units

Avg Rent
0

3 Bedrooms Units

Avg Rent
0

4 Bedrooms Units

Avg Rent
0

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
IDX
Listing Office: Barrett Real Estate
Last Updated: February - 19 - 2025
Copyright 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.