626 S WILSON Street, Tempe, AZ 85281

$720,000
Property Type: Multiple Dwellings Bedrooms: 14 Baths: 12 Status: Closed
Current Price: $720,000 Last Modified: 11/10/2024

Overview

Description

CLICK DOCUMENTS TAB FOR PROPERTY FLIER. Superior Tempe location a block and a half off Mill Avenue. Consisting of ten 1/1 units and two 2/1 units, the Patio Palms Apartments offer poolside accommodations in a garden-style setting a couple minutes from Mill Avenue and all that is Tempe. Strong year-around occupancy and solid upside in rents make for continually improving cash flow in an irreplaceable downtown Tempe location. Improvements are block constructed and individually metered for electricity with copper water lines. Units have small fenced back patios or shared back yards and the property is gated with perimeter security lighting. Rent increases underway at the property.

Listing Details MLS# 5141227

Location, Tax & Legal

Map Code/Grid
Q36
House Number
626
Compass
S
Street Name
WILSON
St Suffix
Street
City/Town Code
Tempe
State/Province
AZ
Zip Code
85281
Zip4
2775
Country
US
County Code
Maricopa
Assessor Number
124-33-066-B
Tax Year
2013

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
irregular
Year Built
1960
Uncvrd Parking Spcs
17
Total # of Units
12
# of Buildings
2
Zoning
M-H, R-3
Elementary School District
Tempe Elementary School District
High School District
Tempe Union High School District

Remarks Misc

Cross Street
University and Farmers
Directions
202 to Priest Drive, south to University, East on university to Farmer Avenue, north to 7th Street, east to property.

Status Change Info

Off Market Date
2014-07-28
Under Contract Date
2014-07-15
Close of Escrow Date
2014-07-31

Legal Info

Township
1N
Range
4E
Section
16
Lot Number
unk

More Information

1 Bedroom Units

# 1 Bedroom Units
10
Avg Rent
551
Avg SqFt
560
# Baths
Yes

2 Bedroom Units

# 2 Bedroom Units
2
Avg Rent
600
Avg SqFt
700
# Baths
Yes

Structure

Bedrooms Total
14
Bathrooms Total
12

Income Expenses

Gross Annual Sch Inc
87000
Net Operating Income
49076

Contact Info

List Agent Home Phn
602-243-7499

Sold Info

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

Property Features

Project Type: 5 - 12 Units Construction: Block; Brick Const - Finish: Painted Roofing: Built-Up Floors: Concrete; Vinyl; Ceramic Tile; Carpet Sale Includes: Land & Building; Pool Equipment Community Features: Pool Exterior Amenities: Green Landscaping; Cable TV Available; Security Light(s) Interior Features: Fire/Smoke Alarm(s); Mini Blinds Appliances Included: Free-Standing Range; Refrigerator Heating: Heat Pump Cooling: Electric; Heat Pump Water Source: City Franchise Sewer: Sewer - Public Electric: APS Gas: SW Gas Parking Features: >1 Space Per Unit Road Surface Type: Asphalt; Concrete Owner Pays: Water; Gas; Trash Collection; Landscaping; Pool Maintenance Tenant Pays: Electricity; Cable TV Source of Fincl Data: Owner 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: No Carry; Other (See Remarks) Environmental: None

Documents

IDX
Listing Office: Kasten Long Commercial Group
Office Phone: 602-445-4141
Office Email: jim@klcommgroup.com
Last Updated: November - 10 - 2024
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