305 S HARDY Drive, Tempe, AZ 85281
$750,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$750,000
Last Modified:
1/03/2018
Description
In the Heart of Tempe a Super Development
Opportunity. Walk to Downtown, Walk to Rio Salado Lake and Be in Phoenix or Scottsdale in Just Minutes. Approximately 24,240 Square Feet Just Ripe for a New Multifamily Project. Yes and While You are Planning There is Income from the Current Structures on Site. All Facts and Figures Approximate Buyer to Verify to Their Satisfaction.
More Information MLS# 5450168
Contract Info
Ownership: Fee Simple
Current Price: $750,000
Sold Price: $750,000
Status: Closed
List Date: 2016-05-31
Location, Tax & Legal
Assessor's Map #: 31
Assessor's Parcel #: 34
Assessor Parcel Ltr: A
Add'l Parcels: No
Tax Municipality: Tempe
Census Tract: 318800
Taxes: 1977
Tax District: 03
Legal: STATE PLAT 12 AMD LOT 26E BEG AT NW COR TH E ALG N LN 203.70F TH S 0D 5M 00S E 119.59F TO PT ON S LN TH W 201.70F TO SW
Marketing Name: Development Opportunity
Map Code/Grid: R36
House Number: 305
Compass: S
Street Name: HARDY
St Suffix: Drive
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 2515
County Code: Maricopa
Assessor Number: 124-31-034-A
Tax Year: 2015
General Property Description
# of Buildings: 3
Uncvrd Parking Spcs: 4
Lot Size Dimensions: 202X120
Total # of Units: 4
Elementary School District: Tempe Elementary School District
Year Built: 1969
Zoning: R-3
Legal Info
Range: 4E
Section: 16
Township: 1N
Project Type
Four Plex: 1
Other Type
Other (See Remarks): 1
Construction
Wood Frame: 1
Const - Finish
Painted: 1
Roofing
Other: 1
Floors
Carpet: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 900
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 1200
Annual Mgmt Exp: 0
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 0
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 28101
Total Monthly Rental Income: 2465
Pmt & Rate Info
Cap Rate: 2.97
Down Payment: 0
Equity: 825000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Community Features
No Pool: 1
Heating
Natural Gas: 1
Cooling
Electric: 1
Exterior Amenities
Green Landscaping: 1
Interior Features
Unfurnished: 1
Fire/Smoke Alarm(s): 1
Tenant Pays
Water: 1
Sewer: 1
Trash Collection: 1
Appliances Included
Refrigerator: 1
Free-Standing Range: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Projected Proforma: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Sewer-In & Connected: 1
Parking Features
On Street: 1
1 Space/Unit: 1
>1 Space Per Unit: 1
Electric
APS: 1
Individual Meter: 1
Gas
SW Gas: 1
Individual Meter: 1
Owner Pays
None: 1
New Financing
Conventional: 1
1031 Exchange: 1
Trade: 1
Special
Incorporated Area: 1
Existing 1st Loan
Treat as Free&Clear: 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
None: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
# Efficiency Units: 3
Avg Rent: 3
Avg SqFt: 400
# Baths: 1
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 1
Avg Rent: 895
Avg SqFt: 895
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Cash
Closing Cost Split: Normal - N
Payment Type: Other
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: Hardy & University
Directions: North on Hardy to Property
Geo Lat: 33.427286
Geo Lon: -111.951832
Status Change Info
Off Market Date: 2016-09-29
Under Contract Date: 2016-09-29
Close of Escrow Date: 2017-02-28
Sold Price: $750,000
Income Expenses
Gross Annual Sch Inc: 29580
Net Operating Income: 24475
Property Features
Project Type: Four Plex
Other Type: Other (See Remarks)
Construction: Wood Frame
Const - Finish: Painted
Roofing: Other
Floors: Carpet
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Green Landscaping
Interior Features: Unfurnished; Fire/Smoke Alarm(s)
Appliances Included: Free-Standing Range; Refrigerator
Heating: Natural Gas
Cooling: Electric
Water Source: City Franchise
Sewer: Sewer - Public; Sewer-In & Connected
Electric: APS; Individual Meter
Gas: SW Gas; Individual Meter
Parking Features: On Street; 1 Space/Unit; >1 Space Per Unit
Road Surface Type: Asphalt
Owner Pays: None
Tenant Pays: Water; Sewer; Trash Collection
Source of Fincl Data: Projected Proforma
Special: Incorporated Area
Existing 1st Loan: Treat as Free&Clear
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; 1031 Exchange; Trade
Environmental: None
Listing Office:
Better Homes & Gardens Real Estate SJ Fowler
Last Updated: January - 03 - 2018
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.