402 S BECK Avenue, Tempe, AZ 85281 (MLS# 5964560)

402 S BECK Avenue, Tempe, AZ 85281

$1,450,000

Property Type: Multiple Dwellings Bedrooms: 10 Baths: 10 Status: Closed

Current Price: $1,450,000 Last Modified: 8/06/2021

Overview

Description

The Beck consists of (10) 1-bedroom units in a mid-century, block-constructed, single-story building. Many upgrades have been done on the property with a full exterior renovation and full interior updating on a number of the units. Washer / dryers have been added to 3 of the units as well. Value-add opportunity exists by continuing to raise rents, as well as through completing the interior renovations to the remaining units. The Beck is a single-story, 10-unit apartment building in the heart of Tempe and next to Arizona State University, one of the largest universities in the United States. The property is located just west of the famed Mill Avenue corridor and just south of Tempe Town Lake.

Supplements: It is a short bike ride to the ASU campus and the nearest light rail station (at 3rd and Mill), both located approximately 1 mile away. The location is as central is it gets and allows residents to enjoy, with ease, so much of what Tempe has to offer. The Tempe Town Lake and Tempe Beach Park are minutes away with year-round activities including wat ... (Read more)

Listing Details MLS# 5964560

Location, Tax & Legal

Map Code/Grid: R36
House Number: 402
Compass: S
Street Name: BECK
St Suffix: Avenue
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 2457
Country: US
County Code: Maricopa
Subdivision: PECAN GROVE ESTATES
Assessor Number: 124-28-011-C
Tax Year: 2018

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 165x94
Year Built: 1962
Uncvrd Parking Spcs: 8
Total # of Units: 10
# of Buildings: 3
Zoning: R-3
Elementary School District: Tempe Elementary School District
High School District: Tempe Union High School District

Remarks Misc

Cross Street: Hardy & University
Directions: West on University to Beck, North on Beck to property on SW Corner of Beck Ave and W 4th Street.

Status Change Info

Off Market Date: 2019-12-13
Under Contract Date: 2019-12-13
Close of Escrow Date: 2020-01-16

Legal Info

Township: 1N
Range: 4E
Section: 16
Lot Number: 3

More Information

1 Bedroom Units

# 1 Bedroom Units: 10
Avg Rent: 880.5
Avg SqFt: 585
# Baths: Yes

Structure

Bedrooms Total: 10
Bathrooms Total: 10

Income Expenses

Net Operating Income: 95570

Sold Info

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

Property Features

Project Type: 5 - 12 Units Construction: Block; Other Const - Finish: Brick Veneer; Other (See Remarks) Roofing: Composition; Other Floors: Other Sale Includes: Land & Building; Other (See Remarks) Community Features: Pool; Other; See Remarks Exterior Amenities: Landscape Water System; Other (See Remarks) Interior Features: Other (See Remarks) Appliances Included: Other Heating: Other; See Remarks Cooling: Other; See Remarks Water Source: City Franchise; Other; See Remarks Sewer: Sewer - Public; Other Electric: Other (See Remarks) Gas: Other (See Remarks) Parking Features: Other Road Surface Type: Asphalt Owner Pays: Water Tenant Pays: Electricity Source of Fincl Data: Projected Proforma Showing Notification Methods: Text; Email; Phone Call Existing 1st Loan: Other (See Rmks) Existing 1st Loan Type: Not Applicable Existing 1st Loan Terms: Not Applicable Existing 2nd Loan: Other (See Remarks) Existing 2nd Loan Type: Not Applicable Existing 2nd Loan Terms: Not Applicable Existing 3rd Loan: Other (See Remarks) Existing 3rd Loan Type: Not Applicable Existing 3rd Loan Terms: Not Applicable Existing Othr Ln Trm: Not Applicable New Financing: Conventional; 1031 Exchange; Other (See Remarks) Environmental: None

Listing Office: ABI Multifamily

Office Phone: 602-714-1400

Last Updated: August - 06 - 2021