402 S BECK Avenue, Tempe, AZ 85281
$2,889,610
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$2,889,610
Last Modified:
2/28/2023
Description
Beautiful mid century modern gray brick apartment complex in 3 bldgs on 3 lots with a pool courtyard. All units remodeled in 2002-2021 with new kitchens, appliances, etc etc. Two units are furnished. 4 Units have backyards. All units have full size washer dryers so old laundry room is now vacant and attached to a storage room. Might make a nice studio apt.
More Information MLS# 6319982
Contract Info
Ownership: Fee Simple
Current Price: $2,889,610
Sold Price: $2,889,610
Status: Closed
List Date: 2021-11-11
Location, Tax & Legal
Assessor's Map #: 28
Legal Description (Abbrev): PECAN GROVE ESTATES LOT 3 EX E 107.33' AS MEAS ALG S LN
Assessor's Parcel #: 11
Assessor Parcel Ltr: C
Add'l Parcels: Yes
Tax Municipality: Tempe
Census Tract: 318800
Taxes: 5000
Legal: PECAN GROVE ESTATES LOT 3 EX E 107.33' AS MEAS ALG S LN
Marketing Name: The Beck
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
County Code: Maricopa
Subdivision: PECAN GROVE ESTATES
Assessor Number: 124-28-011-C
Tax Year: 2021
General Property Description
# of Buildings: 3
Uncvrd Parking Spcs: 8
Lot Size Dimensions: 165x94
Total # of Units: 10
Elementary School District: Tempe Elementary School District
High School District: Tempe Union High School District
Elementary School: Scales Technology Academy
Jr. High School: Geneva Epps Mosley Middle School
High School: Tempe High School
Year Built: 1962
Zoning: R-3
Legal Info
Range: 4E
Section: 16
Township: 1N
Lot Number: 3
Project Type
5 - 12 Units: 1
Construction
Wood Frame: 1
Brick: 1
Const - Finish
Brick Veneer: 1
Other (See Remarks): 1
Roofing
Composition: 1
Other: 1
Floors
Ceramic Tile: 1
Other: 1
Sale Includes
Land & Building: 1
Pool Equipment: 1
Other (See Remarks): 1
Income & Expenses
Annual Elec Exp: 1200
Annual Gas Exp: 0
Annual Ins Exp: 3600
Annual Land Lse Exp: 0
Annual Landscape Exp: 2400
Annual Legal & Acctg: 0
Annual Maint Exp: 3600
Annual Mgmt Exp: 0
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 7200
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 12080
Operating Exp: 35080
Other Income: 3600
Vacancy Allowance: 0.02
Adjusted Gross Inc: 182189.84
Pmt & Rate Info
Cap Rate: 5.07
Down Payment: 0
Equity: 2135000
1st Encumbrance: 865000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 865000
Assessment Balance: 0
Showing Notification Methods
Text: 1
Email: 1
Phone Call: 1
Community Features
Pool: 1
Other: 1
See Remarks: 1
Heating
Electric: 1
Cooling
Ceiling Fan(s): 1
Electric: 1
Other: 1
See Remarks: 1
Exterior Amenities
Landscape Water System: 1
Green Landscaping: 1
Fenced: 1
Other (See Remarks): 1
Interior Features
Partially Furnished: 1
Fire/Smoke Alarm(s): 1
Mini Blinds: 1
Other (See Remarks): 1
Tenant Pays
Electricity: 1
Appliances Included
Dishwasher: 1
Disposal: 1
Microwave: 1
Refrigerator: 1
Built-In Range: 1
Washer/Dryer: 1
Other: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Projected Proforma: 1
Water Source
City Franchise: 1
Other: 1
Sewer
Sewer - Public: 1
Parking Features
On Street: 1
1 Space/Unit: 1
Other: 1
Electric
SRP: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
New Financing
Conventional: 1
1031 Exchange: 1
Special
Owner/Agent: 1
Existing 1st Loan
Other (See Rmks): 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 1
Existing 2nd Loan
Other (See Remarks): 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Other (See Remarks): 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
Contact Info
List Agent Home Phn: 602-315-9292
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 10
Avg Rent: 1295
Avg SqFt: 620
# Baths: 1
2 Bedroom Units
Avg Rent: 0
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: Priest & University
Directions: North on University to 4th St. East to property on southwest corner of 4th Street and Beck.
Geo Lat: 33.426239
Geo Lon: -111.957221
Status Change Info
Off Market Date: 2022-01-04
Under Contract Date: 2021-12-18
Close of Escrow Date: 2022-03-18
Sold Price: $2,889,610
Income Expenses
Gross Annual Sch Inc: 182308
Net Operating Income: 152228
Property Features
Project Type: 5 - 12 Units
Construction: Wood Frame; Brick
Const - Finish: Brick Veneer; Other (See Remarks)
Roofing: Composition; Other
Floors: Ceramic Tile; Other
Sale Includes: Land & Building; Pool Equipment; Other (See Remarks)
Community Features: Pool; Other; See Remarks
Exterior Amenities: Landscape Water System; Green Landscaping; Fenced; Other (See Remarks)
Interior Features: Partially Furnished; Fire/Smoke Alarm(s); Mini Blinds; Other (See Remarks)
Appliances Included: Built-In Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer; Other
Cooling: Ceiling Fan(s); Electric; Other; See Remarks
Water Source: City Franchise; Other
Sewer: Sewer - Public
Electric: SRP
Gas: None
Parking Features: On Street; 1 Space/Unit; Other
Road Surface Type: Asphalt
Owner Pays: Water
Tenant Pays: Electricity
Source of Fincl Data: Owner; Projected Proforma
Special: Owner/Agent
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
Environmental: None
Documents
Offering Memorandum ›
Listing Office:
Metro Realty
Last Updated: February - 28 - 2023
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