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
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.
More Information MLS# 6101102
Contract Info
Ownership: Fee Simple
Current Price: $706,000
Sold Price: $706,000
Status: Closed
List Date: 2020-07-07
Location, Tax & Legal
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
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
County Code: Maricopa
Assessor Number: 133-23-019
Tax Year: 2019
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 12
Lot Size Dimensions: 152' X 115'
Total # of Units: 6
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
Year Built: 1957
Zoning: [M-H] [R-3]
Legal Info
Range: 4E
Section: 27
Township: 1N
Lot Number: 5
Project Type
5 - 12 Units: 1
Construction
Block: 1
Const - Finish
Stone: 1
Roofing
Composition: 1
Floors
Other: 1
Sale Includes
Land & Building: 1
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: 1
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Electric: 1
Natural Gas: 1
Cooling
Evaporative Cooling: 1
Interior Features
Unfurnished: 1
Tenant Pays
Gas: 1
Water: 1
Sewer: 1
Electricity: 1
Landscaping: 1
Appliances Included
Other: 1
Road Surface Type
Dirt: 1
Source of Fincl Data
Owner: 1
Water Source
Individual Meter: 1
Sewer
Sewer - Public: 1
Parking Features
Other: 1
Electric
SRP: 1
Individual Meter: 1
Gas
SW Gas: 1
Individual Meter: 1
Owner Pays
Landscaping: 1
New Financing
Conventional: 1
1031 Exchange: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Contact Info
List Agent Home Phn: 480-390-8676
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 2
Avg Rent: 487
Avg SqFt: 520
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 4
Avg Rent: 566
Avg SqFt: 760
# 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: 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.
Geo Lat: 33.405751
Geo Lon: -111.938217
Status Change Info
Off Market Date: 2021-01-04
Under Contract Date: 2020-07-16
Close of Escrow Date: 2021-02-01
Sold Price: $706,000
Income Expenses
Gross Annual Sch Inc: 28751.83
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
Listing Office:
Venture REI, LLC
Last Updated: February - 02 - 2021
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