501 E BROADWAY Road -, Tempe, AZ 85282 (MLS# 5941236)

501 E BROADWAY Road -, Tempe, AZ 85282

$650,000

Property Type: Land Lot Size (sq. ft.): 30,928 Status: Closed

Current Price: $650,000 List Date: 6/18/2019 Last Modified: 11/20/2019

Overview

Description

HUGE PRICE DROP FOR QUICK SALE. 501 East Broadway is a unique, bite-sized development opportunity in the heart of Tempe, Arizona, minutes from the largest university in the nation. The site is located on the major arterial, Broadway Road, and a couple blocks from College Avenue which leads directly into the Arizona State University campus. It is also a short walk / bike ride located less than 3/4 of a mile away. Additionally the site is approximately one mile to the nearest light rail station and minutes from the vibrant Mill Avenue corridor. The location is as central is it gets and allows residents to enjoy, with ease, so much of what Tempe has to offer: The ASU campus, Tempe Marketplace, access to the 101 Freeway, and Tempe Beach Park all just minutes away.

Supplements: This area of Tempe is not only popular because of the university but because it's also one of the most desirable areas in all of Arizona to live and work. The 501 East Broadway development opportunity consists of 0.71 acres of land zoned Residential-Office (R-O). Given its location along a major arterial, all off-site improvements are in place an ... (Read more)

Listing Details MLS# 5941236

Location, Tax & Legal

Map Code/Grid: R37
House Number: 501
Compass: E
Street Name: BROADWAY
St Suffix: Road
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85282
Zip4: 1406
Country: US
County Code: Maricopa
Assessor Number: 133-25-002-C
Tax Year: 2018
Lot #: -
Assessor's Map #: 25
Legal Description (Abbrev): S 210F OF N 265F OF E 296F OF W 306F OF W2 NE4 NE4 SEC 27 EX W 120F TH/OF & EX S 100F OF N 155F OF E
Assessor's Parcel #: 2
Assessor Parcel Ltr: C
Add'l Parcels: No
Tax Municipality: Tempe
Census Tract: 319600
Taxes: 6037

Contract Information

For Sale or Lease?: Sale
Type: Exclusive Right To Sell

General Property Description

Apx Total Acres: 0.71
Apx Total Acres G/N: G
Price Per Acre: 1054929.58
# Units Allowed: 7
Apx SqFt: 30928
Price Per SqFt: 24.22
Apx SqFt G/N: G
Lot Size Dimensions: 210x176 less 60x100
Zoning: RO
Elementary School District: Tempe Elementary School District
High School District: Tempe Union High School District

Remarks Misc

Cross Street: Rural & Broadway
Directions: West on Broadway to property on south side of street.

Status Change Info

Off Market Date: 2019-11-19
Under Contract Date: 2019-11-11
Close of Escrow Date: 2019-11-18

Legal Info

Township: 1N
Range: 4E
Section: 27
Lot Number: -

More Information

Sold Info

Loan Type: Cash
Closing Cost Split: Normal - N
Payment Type: Other
Buyer Concession $/%: $
Seller Concession $/%: $
Buyer Concession to Seller: 0
Seller Concession to Buyer: 0

Special Listing Cond

N/A: Yes

Pmt & Rate Info

Equity: 800000
Total Owed: 0

Assoc/Prop Info

HOA Y/N: N
PAD Fee Y/N: N
Assessed Balance: 0
HOA 2 Y/N: N

Showing Notification Methods

No Notification Required to Show: Yes

Lockbox Type

None: Yes

Existing Land Use

Residential Lot: Yes
Commercial Lot: Yes
Other (See Rmks): Yes

Zoned Presently

Other (See Rmks): Yes

Potential Use

Single Family: Yes
Multi-Family: Yes
Commercial: Yes
Office: Yes
Other: Yes
See Remarks: Yes

Parcel Size

.50 - .99 Acres: Yes

Current Density

06 - 10 Units P/Acre: Yes

Development Status

Raw Land: Yes
Other: Yes
See Remarks: Yes

Water Source

Other: Yes
See Remarks: Yes

Sewer

Other: Yes

Electric

Other (See Rmks): Yes

Gas

Other (See Rmks): Yes

Distance to Cable

Within 1/2 Mile: Yes

New Financing

Cash: Yes
Conventional: Yes
1031 Exchange: Yes
Other (See Rmks): Yes

Distance to Phone

Within 1/2 Mile: Yes

Distance to Water

Within 1/2 Mile: Yes

Existing 1st Loan

Treat as Free&Clear: Yes

Distance to Electric

Within 1/2 Mile: Yes

Existing 1st Loan Type

Not Applicable: Yes

Distance to Gas

Within 1/2 Mile: Yes

Existing 1st Loan Terms

Not Applicable: Yes

Distance to Sewer

Within 1/2 Mile: Yes

Existing 2nd Loan

Treat as Free&Clear: Yes

Existing 2nd Loan Type

Not Applicable: Yes

Existing 2nd Loan Terms

Not Applicable: Yes

Existing 3rd Loan

Treat as Free&Clear: Yes

Existing 3rd Loan Type

Not Applicable: Yes

Reports/Disclosures

None: Yes
Other (See Rmks): Yes

Existing 3rd Loan Terms

Not Applicable: Yes

Environmental

None: Yes

Existing Other Loan

Not Applicable: Yes

Property Features

Special Listing Cond: N/A Existing Land Use: Residential Lot; Commercial Lot; Other (See Rmks) Zoned Presently: Other (See Rmks) Potential Use: Single Family; Multi-Family; Commercial; Office; Other; See Remarks Parcel Size: .50 - .99 Acres Current Density: 06 - 10 Units P/Acre Development Status: Raw Land; Other; See Remarks Water Source: Other; See Remarks Sewer: Other Electric: Other (See Rmks) Gas: Other (See Rmks) Distance to Cable: Within 1/2 Mile Distance to Phone: Within 1/2 Mile Distance to Water: Within 1/2 Mile Distance to Electric: Within 1/2 Mile Distance to Gas: Within 1/2 Mile Distance to Sewer: Within 1/2 Mile Existing 1st Loan: Treat as Free&Clear Existing 1st Loan Type: Not Applicable Existing 1st Loan Terms: Not Applicable Existing 2nd Loan: Treat as Free&Clear Existing 2nd Loan Type: Not Applicable Existing 2nd Loan Terms: Not Applicable Existing 3rd Loan: Treat as Free&Clear Existing 3rd Loan Type: Not Applicable Existing 3rd Loan Terms: Not Applicable Existing Other Loan: Not Applicable New Financing: Cash; Conventional; 1031 Exchange; Other (See Rmks) Environmental: None Showing Notification Methods: No Notification Required to Show Lockbox Type: None

Listing Office: ABI Multifamily

Last Updated: November - 20 - 2019