515 W 2ND Street, Tempe, AZ 85281 (MLS# 6748206)

515 W 2ND Street, Tempe, AZ 85281

$675,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $675,000 Last Modified: 10/12/2024

Overview

Description

Charming 3-Unit Property in Downtown Tempe Prime Location: Nestled on a secluded street near Mill Avenue, this property offers the perfect blend of tranquility and urban convenience. Investment Opportunity: Situated in the heart of Downtown Tempe, this 3-unit property is a stone's throw away from Tempe Town Lake, the Light Rail Station, and the Trolley Car. Enjoy the vibrant activities of Downtown Tempe and the bustling Arizona State University campus. Property Features: Three One-Bedroom Units: Each unit boasts a ranch-style layout with upgraded kitchens, two skylights, and individual washers and dryers. Modern Amenities: Equipped with tankless water heaters, a new roof 8/24, and new air conditioning units 8/24.

Supplements: Long-Term Tenants: Residents typically stay for over five years, but the current one-year leases allow for a month-to-month option, making it ideal for an owner-occupant. Additional Opportunity: This property can be purchased together with the identical triplex next door at 509 West 2nd Street, creating a 6-unit package. Don't miss out on this uniq ... (Read more)

Listing Details MLS# 6748206

Location, Tax & Legal

House Number: 515
Compass: W
Street Name: 2ND
St Suffix: Street
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 2796
Country: US
County Code: Maricopa
Subdivision: STATE PLAT NO 12 AMD
Assessor Number: 124-32-044-E
Tax Year: 2023
Assessor's Map #: 32
Legal Description (Abbrev): PT TR 7 LOT 1 W 74' OF E 240' EX TH PT IF ANY LY S OF PRIEST DITCH .16 AC
Assessor's Parcel #: 44
Assessor Parcel Ltr: E
Add'l Parcels: No
Tax Municipality: Tempe
Census Tract: 318800
Taxes: 1353
Legal: PT TR 7 LOT 1 W 74' OF E 240' EX TH PT IF ANY LY S OF PRIEST DITCH .16 AC
Marketing Name: Second Street Tempe

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 74x96
Year Built: 1955
Uncvrd Parking Spcs: 6
Total # of Units: 3
# of Buildings: Yes
Zoning: Industrial
Flood Zone: No
Elementary School District: Tempe Elementary School District
High School District: Tempe Union High School District
Elementary School: Scales Technology Academy
Jr. High School: Connolly Middle School

Remarks Misc

Cross Street: Wilson
Directions: Wilson to 2nd Street in Tempe

Status Change Info

Off Market Date: 2024-09-04
Under Contract Date: 2024-09-04
Close of Escrow Date: 2024-10-11

Legal Info

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

More Information

Showing Notification Methods

Showing Service: Aligned Showings
Text: Yes

1 Bedroom Units

# 1 Bedroom Units: 3
Avg Rent: 1196
Avg SqFt: 520
# Baths: Yes

Sold Info

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

Project Type

Tri-Plex: Yes

Construction

Block: Yes

Const - Finish

Painted: Yes

Roofing

Composition: Yes
Foam: Yes

Floors

Concrete: Yes
Ceramic Tile: Yes

Sale Includes

Building(s) Only: Yes

Income & Expenses

Annual Ins Exp: 1200
Annual Landscape Exp: 240
Annual Wtr/Swr Exp: 1900
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 4693
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 0

Pmt & Rate Info

Equity: 675000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0

Lockbox Type

None: Yes

Community Features

No Pool: Yes

Heating

Heat Pump: Yes

Cooling

Central Air: Yes

Exterior Amenities

Desert Landscaping: Yes

Interior Features

Fire/Smoke Alarm(s): Yes
Mini Blinds: Yes

Tenant Pays

Gas: Yes
Electricity: Yes

Appliances Included

Dishwasher: Yes
Microwave: Yes
Refrigerator: Yes
Washer/Dryer: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

>1 Space Per Unit: Yes

Electric

APS: Yes

Gas

SW Gas: Yes

Owner Pays

Water: Yes
Trash Collection: Yes

New Financing

Cash: Yes
VA: Yes
Conventional: Yes
FHA: Yes

Reports/Disclosures

Seller Prop Disc Stm: Yes

Environmental

None: Yes

Efficiency Units

Avg Rent: 0

2 Bedroom Units

Avg Rent: 0

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: Tri-Plex Construction: Block Const - Finish: Painted Roofing: Composition; Foam Floors: Concrete; Ceramic Tile Sale Includes: Building(s) Only Community Features: No Pool Exterior Amenities: Desert Landscaping Interior Features: Fire/Smoke Alarm(s); Mini Blinds Appliances Included: Refrigerator; Dishwasher; Microwave; Washer/Dryer Heating: Heat Pump Cooling: Central Air Water Source: City Franchise Sewer: Sewer - Public Electric: APS Gas: SW Gas Parking Features: >1 Space Per Unit Road Surface Type: Asphalt Owner Pays: Water; Trash Collection Tenant Pays: Electricity; Gas Source of Fincl Data: Owner Showing Notification Methods: Text Lockbox Type: None New Financing: Cash; VA; FHA; Conventional Environmental: None

Listing Office: Congress Realty, Inc.

Last Updated: October - 12 - 2024

Broker Attribution: 888-881-4118