405 S PRIEST Drive S, Tempe, AZ 85281 (MLS# 6740390)

405 S PRIEST Drive S, Tempe, AZ 85281

$820,000

Property Type: Multiple Dwellings Bedrooms: 4 Baths: 4 Status: Closed

Current Price: $820,000 Last Modified: 6/28/2025

Overview

Description

405 South Priest Drive (South) is a well maintained fourplex built in 1961 and recently renovated, near Arizona State University and major transportation routes, including Loop 202, SR-143, and I-10, as well as proximity to Phoenix Sky Harbor International Airport. The property consists of 100% 1-bedroom / 1-bathroom units, each offering 665 square feet of living space. In 2024, the property underwent extensive renovations, enhancing its appeal and functionality. Upgrades include new flooring, countertops, cabinetry, stainless-steel appliances, updated bathrooms, modern light fixtures, new doors, and fresh paint. The property is individually metered for electricity and features a shared laundry room, as well as separate storage areas for each unit. New roof by close of escrow.

Listing Details MLS# 6740390

Location, Tax & Legal

House Number: 405
Compass: S
Street Name: PRIEST
St Suffix: Drive
St Dir Sfx: S
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Country: US
County Code: Maricopa
Subdivision: JO-ELLEN HOMES
Assessor Number: 124-28-031-B
Tax Year: 2023

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 6611 sqft
Year Built: 1961
Uncvrd Parking Spcs: 12
Total # of Units: 4
# of Buildings: Yes
Zoning: R-4
High School District: Tempe Union High School District

Remarks Misc

Cross Street: S Priest Dr & W 4th St

Status Change Info

Off Market Date: 2025-06-28
Under Contract Date: 2025-05-16
Close of Escrow Date: 2025-06-27

Legal Info

Township: 1N
Range: 4E
Section: 16
Lot Number: 8

More Information

1 Bedroom Units

# 1 Bedroom Units: 4
Avg Rent: 1488
Avg SqFt: 665
# Baths: Yes

Structure

Bedrooms Total: 4
Bathrooms Total: 4

Income Expenses

Gross Annual Sch Inc: 71424
Net Operating Income: 51834

Showing Notification Methods

Showing Service: Non-MLS Showing Service - See Private Remarks

Sold Info

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

Property Features

Project Type: Four Plex Construction: Block Const - Finish: Painted Roofing: Composition Floors: Vinyl Sale Includes: Land & Building; Laundry Equipment Community Features: Other Exterior Amenities: Desert Landscaping; Partially Fenced; Separate Storage Appliances Included: Built-In Range; Refrigerator; Disposal Heating: Individual Cooling: Electric; Individual Water Source: City Franchise Sewer: Sewer - Public Electric: Individual Meter Gas: Other (See Remarks) Parking Features: Other Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity Source of Fincl Data: Owner; Projected Proforma Showing Notification Methods: Text; Email; Phone Call Lockbox Type: Combo New Financing: Cash; VA; FHA; Conventional; 1031 Exchange Environmental: None

Listing Office: ABI Multifamily

Office Phone: 602-714-1400

Last Updated: June - 28 - 2025