37 E EL PARQUE Drive, Tempe, AZ 85282

$706,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $706,000 Last Modified: 2/02/2021

Overview

Description

Great 6 Unit Investment Opportunity or redevelopment opportunity In the heart of Tempe!! Located within walking distance to Arizona State University; one of the largest public universities in the country with total enrollment of over 82,000 students. This property needs a full makeover but once fully renovated the units will rent for: 2/1's - $1150-1200 p/mo 1/1's - $800-900 making asset est value $1m+. Deals like this are hard to come by in Tempe where you can make them your own and still have equity in the property.

Listing Details MLS# 6101102

Location, Tax & Legal

Map Code/Grid
R37
House Number
37
Compass
E
Street Name
EL PARQUE
St Suffix
Drive
City/Town Code
Tempe
State/Province
AZ
Zip Code
85282
Zip4
1301
Country
US
County Code
Maricopa
Assessor Number
133-23-019
Tax Year
2019
Assessor's Map #
23
Legal Description (Abbrev)
TEMPE ACRES PT LOT 5 E 152' OF W 520' EX N 20'
Assessor's Parcel #
19
Add'l Parcels
No
Tax Municipality
Tempe
Census Tract
319600
Taxes
3647
Legal
TEMPE ACRES PT LOT 5 E 152' OF W 520' EX N 20'
Marketing Name
Broadmor

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
152' X 115'
Year Built
1957
Uncvrd Parking Spcs
12
Total # of Units
6
# of Buildings
Yes
Zoning
[M-H] [R-3]
Elementary School District
Tempe Elementary School District
High School District
Tempe Union High School District
Elementary School
Broadmor Elementary School
Jr. High School
Connolly Middle School
High School
Tempe High School

Remarks Misc

Cross Street
S Mill Ave & E Broadway Rd
Directions
From Mill Ave and Broadway Rd: Head south on Mill Ae, turn left on E El Parque Dr, property is on the right hand side.

Status Change Info

Off Market Date
2021-01-04
Under Contract Date
2020-07-16
Close of Escrow Date
2021-02-01

Legal Info

Township
1N
Range
4E
Section
27
Lot Number
5

More Information

Income Expenses

Gross Annual Sch Inc
28751.83

1 Bedroom Units

# 1 Bedroom Units
2
Avg Rent
487
Avg SqFt
520
# Baths
Yes

2 Bedroom Units

# 2 Bedroom Units
4
Avg Rent
566
Avg SqFt
760
# Baths
Yes

Contact Info

List Agent Home Phn
480-390-8676

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

5 - 12 Units
Yes

Construction

Block
Yes

Const - Finish

Stone
Yes

Roofing

Composition
Yes

Floors

Other
Yes

Sale Includes

Land & Building
Yes

Income & Expenses

Owner Association
No
Annual Ownr Asoc Fee
0
Operating Exp
3647
Other Income
0
Vacancy Allowance
0
Adjusted Gross Inc
28751.83

Pmt & Rate Info

Equity
650000
Down Payment %
0
Monthly Payments
0
Total Owed
0

Showing Notification Methods

Email
Yes

Lockbox Type

None
Yes

Community Features

No Pool
Yes

Heating

Electric
Yes
Natural Gas
Yes

Cooling

Evaporative Cooling
Yes

Interior Features

Unfurnished
Yes

Tenant Pays

Gas
Yes
Water
Yes
Sewer
Yes
Electricity
Yes
Landscaping
Yes

Appliances Included

Other
Yes

Road Surface Type

Dirt
Yes

Source of Fincl Data

Owner
Yes

Water Source

Individual Meter
Yes

Sewer

Sewer - Public
Yes

Parking Features

Other
Yes

Electric

SRP
Yes
Individual Meter
Yes

Gas

SW Gas
Yes
Individual Meter
Yes

Owner Pays

Landscaping
Yes

New Financing

Conventional
Yes
1031 Exchange
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: 5 - 12 Units Construction: Block Const - Finish: Stone Roofing: Composition Floors: Other Sale Includes: Land & Building Community Features: No Pool Interior Features: Unfurnished Appliances Included: Other Heating: Natural Gas Cooling: Evaporative Cooling Water Source: Individual Meter Sewer: Sewer - Public Electric: SRP; Individual Meter Gas: SW Gas; Individual Meter Parking Features: Other Road Surface Type: Dirt Owner Pays: Landscaping Tenant Pays: Water; Sewer; Electricity; Gas; Landscaping Source of Fincl Data: Owner Showing Notification Methods: Email Lockbox Type: None New Financing: Conventional; 1031 Exchange Environmental: None
IDX
Listing Office: Venture REI, LLC
Last Updated: February - 02 - 2021
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