2423 E APACHE Boulevard, Tempe, AZ 85288 (MLS# 6381168)

2423 E APACHE Boulevard, Tempe, AZ 85288

$1,470,000

Watson Flower Shop plus 4 Residential units Plus .95 acres

Live-Work Space, 4plex with cash flow + room for Community Garden

Historic Flower shop. Business owner willing to lease back.

Property Type: Multiple Dwellings Status: Closed

Current Price: $1,470,000 List Date: 4/11/2022 Last Modified: 4/09/2025

Overview

Description

Huge Tempe 4 plex (some work needed)+ Retail Space currently being used as a flower shop on an acre lot. Large lot allows room for multi family development or leave property as is & use extra land for community garden etc. This is an amazing Live-Work opportunity with light rail station adjacent to the property. The 4 units consist of: 2bed 1 bathroom 850 SF 2bed 1 bathroom 1,000 SF 2bed 2bathroom 1400 SF 3 Bedroom 1 bathroom 1500 Retail space consists of 1500 SF plus a 300 SF basement +shed space 1200 SF. Retail space has many possibilities: coffee shop, breakfast shop, art studio, office space, Farmers market, etc. Flood irrigation, covered parking, Close to the canal for running and biking. Easy access to the 101, Close to ASU, Tempe Market Place. Come and see.

Listing Details MLS# 6381168

Location, Tax & Legal

Map Code/Grid: R38
House Number: 2423
Compass: E
Street Name: APACHE
St Suffix: Boulevard
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85288
Country: US
County Code: Maricopa
Assessor Number: 134-35-034-C
Tax Year: 2021
Assessor's Map #: 35
Legal Description (Abbrev): TH POR SW4 SEC 19 DAF COM AT NW COR SW4 SD SEC 19 TH E 1598F TH S 50F TO POB TH CONT S 163.76F TH E
Assessor's Parcel #: 34
Assessor Parcel Ltr: C
Add'l Parcels: No
Tax Municipality: Tempe
Census Tract: 319300
Taxes: 7921
Legal: TH POR SW4 SEC 19 DAF COM AT NW COR SW4 SD SEC 19 TH E 1598F TH S 50F TO POB TH CONT S 163.76F TH E
Marketing Name: Live/Work Op+4plex+retail

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: IRR
Year Built: 1950
Uncvrd Parking Spcs: 8
Total # of Units: 4
# of Buildings: 3
Zoning: C-G, MH
Elementary School District: Tempe Elementary School District
High School District: Tempe Union High School District

Remarks Misc

Cross Street: Price Road and Apache Blvd
Directions: Price Road and Apache Blvd: East on Apache to property on south side of the road

Status Change Info

Off Market Date: 2022-05-05
Under Contract Date: 2022-04-27
Close of Escrow Date: 2022-06-09

Legal Info

Township: 1N
Range: 5E
Section: 19
Lot Number: --

More Information

Income Expenses

Net Operating Income: 6000

2 Bedroom Units

# 2 Bedroom Units: 3
Avg SqFt: 1000
# Baths: 3
Avg Rent: 0

3 Bedrooms Units

# 3 Bedroom Units: Yes
Avg SqFt: 1500
# Baths: Yes
Avg Rent: 0

Contact Info

List Agent Home Phn: 602-451-3684

Sold Info

Loan Type: Cash
Payment Type: Other
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Buyer Concession to Seller: 0
Seller Concession to Buyer: 0

Project Type

Four Plex: Yes

Construction

Block: Yes

Const - Finish

Painted: Yes
Stucco: Yes

Roofing

Built-Up: Yes
Rolled: Yes

Floors

Other: Yes

Sale Includes

Land & Building: Yes

Income & Expenses

Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 7921
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 0

Pmt & Rate Info

Cap Rate: 0.41
Equity: 1450000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0

Showing Notification Methods

Text: Yes
Email: Yes
Phone Call: Yes

Lockbox Type

None: Yes

Community Features

No Pool: Yes

Heating

Central: Yes

Cooling

Central Air: Yes

Tenant Pays

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

Appliances Included

Other: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

Carport: Yes
Free: Yes

Electric

SRP: Yes

Gas

None: Yes

Owner Pays

None: Yes

New Financing

Cash to Loan: Yes
Conventional: 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

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: Four Plex Construction: Block Const - Finish: Painted; Stucco Roofing: Built-Up; Rolled Floors: Other Sale Includes: Land & Building Community Features: No Pool Appliances Included: Other Heating: Central Cooling: Central Air Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: None Parking Features: Carport; Free Road Surface Type: Asphalt Owner Pays: None Tenant Pays: Water; Sewer; Electricity; Trash Collection; Landscaping Source of Fincl Data: Owner Showing Notification Methods: Text; Email; Phone Call Lockbox Type: None Existing 1st Loan: Treat as Free&Clear New Financing: Cash to Loan; Conventional Environmental: None

Listing Office: LRA Real Estate Group, LLC

Last Updated: April - 09 - 2025