604 S ROOSEVELT Street, Tempe, AZ 85281 (MLS# 5510360)

604 S ROOSEVELT Street, Tempe, AZ 85281

$799,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $799,000 Last Modified: 12/16/2024

Overview

Description

Roosevelt Place is a 1955 block-constructed building. Its vintage charm lends itself to the popular mid-century renovation trend that is in high demand by residents and investors alike. The property is individually metered for gas and electricity, and all nine electrical panels have been upgraded over the last few years. Additional updates include pre-hung insulated metal 6-panel entry doors, fresh exterior paint, new dual-pane windows, electricity and disconnect boxes run to each water heater in preparation for converting them to electric from gas, and more. Very few properties can offer the location, cleanliness, and possible upside Roosevelt Place has to offer.

Supplements: This 9 unit apartment community, located in the heart of Tempe, is nestled among many new and highly renovated properties, Roosevelt Place is less than one mile to Arizona State University campus. Residents enjoy the close proximity to downtown Tempe and everything it has to offer. With many dining, shopping, and entertainment options, as well as t ... (Read more)

Listing Details MLS# 5510360

Location, Tax & Legal

Map Code/Grid: R36
House Number: 604
Compass: S
Street Name: ROOSEVELT
St Suffix: Street
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 2749
Country: US
County Code: Maricopa
Subdivision: STATE PLAT NO 12 AMD
Assessor Number: 124-34-009-B
Tax Year: 2016
Assessor's Map #: 34
Legal Description (Abbrev): STATE PLAT 12 AMD LOT 23E S 90' OF N 240' OF E 175' .36 AC
Assessor's Parcel #: 9
Assessor Parcel Ltr: B
Add'l Parcels: No
Tax Municipality: Tempe
Census Tract: 318800
Taxes: 2462.16
Legal: STATE PLAT 12 AMD LOT 23E S 90' OF N 240' OF E 175' .36 AC
Marketing Name: Roosevelt Place

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 15682
Year Built: 1955
Uncvrd Parking Spcs: 9
Total # of Units: 9
# of Buildings: Yes
Zoning: R-3

Remarks Misc

Cross Street: Mill & University
Directions: West on University, North on Roosevelt to property on West side of street.

Status Change Info

Off Market Date: 2017-01-26
Under Contract Date: 2017-01-25
Close of Escrow Date: 2017-02-23

Legal Info

Township: 1N
Range: 4E
Section: 16
Lot Number: 23E

More Information

Income Expenses

Gross Annual Sch Inc: 70200
Net Operating Income: 48301

1 Bedroom Units

# 1 Bedroom Units: 9
Avg Rent: 540
Avg SqFt: 412
# Baths: Yes

Sold Info

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

Project Type

5 - 12 Units: Yes

Construction

Block: Yes
Wood Frame: Yes

Const - Finish

Painted: Yes

Roofing

Other: Yes

Floors

Other: Yes

Sale Includes

Building(s) Only: Yes
Land & Building: Yes

Income & Expenses

Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 0
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 0
Annual Mgmt Exp: 0
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 0
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 20260
Other Income: 1150
Vacancy Allowance: 0.04
Adjusted Gross Inc: 68496
Total Monthly Rental Income: 5850

Pmt & Rate Info

Cap Rate: 6.05
Down Payment: 0
Equity: 799000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0

Community Features

No Pool: Yes

Heating

Natural Gas: Yes

Cooling

Central Air: Yes

Interior Features

Unfurnished: Yes

Tenant Pays

Gas: Yes
Electricity: Yes

Appliances Included

Refrigerator: Yes
Free-Standing Range: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes
Projected Proforma: Yes

Water Source

City Franchise: Yes
Master Meter: Yes

Sewer

Sewer - Public: Yes

Parking Features

1 Space/Unit: Yes
>1 Space Per Unit: Yes
Paved: Yes

Electric

SRP: Yes

Gas

SW Gas: Yes

Owner Pays

Water: Yes
Sewer: Yes
Trash Collection: Yes

New Financing

Conventional: Yes

Special

Owner/Agent: Yes

Existing 1st Loan

Conventional: Yes

Existing 1st Loan Type

Fixed: Yes

Existing 1st Loan Terms

Non Assumable: 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

Other (See Remarks): Yes

Existing 3rd Loan Terms

Not Applicable: Yes

Environmental

None: Yes

Existing Othr Ln Trm

Not Applicable: 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: 5 - 12 Units Construction: Block; Wood Frame Const - Finish: Painted Roofing: Other Floors: Other Sale Includes: Building(s) Only; Land & Building Community Features: No Pool Interior Features: Unfurnished Appliances Included: Free-Standing Range; Refrigerator Heating: Natural Gas Cooling: Central Air Water Source: City Franchise; Master Meter Sewer: Sewer - Public Electric: SRP Gas: SW Gas Parking Features: 1 Space/Unit; >1 Space Per Unit; Paved Road Surface Type: Asphalt Owner Pays: Water; Trash Collection Tenant Pays: Electricity; Gas Source of Fincl Data: Owner; Projected Proforma Special: Owner/Agent Existing 1st Loan: Conventional Existing 1st Loan Type: Fixed Existing 1st Loan Terms: Non Assumable 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 Othr Ln Trm: Not Applicable New Financing: Conventional Environmental: None

Documents

2-Page Brochure ›

Listing Office: ABI Multifamily

Last Updated: December - 16 - 2024