704 W 5TH Street, Tempe, AZ 85281

$2,520,000
Property Type: Multiple Dwellings Bedrooms: 21 Baths: 17 Status: Closed
Current Price: $2,520,000 Last Modified: 7/05/2018

Overview

Description

Parkview on 5th is a 17-unit garden-style apartment community located in a highly desirable north Tempe location that has recently been extensively renovated and repositioned with premium finishes. The property is made of block construction with pitched composition shingle roofs and is individually-metered for electricity. The unit mix is comprised of studio, one and two-bedroom floor plans that are spacious, well designed and range in size from 375 to 805 square feet. Unit interiors feature fully appointed kitchens with white shaker style cabinetry, breakfast bars, granite counter tops, decorative glass tile backsplashes, full-size stainless steel appliances, including gas cookstop stoves, dishwashers and built-I microwaves.

Listing Details MLS# 5736033

Location, Tax & Legal

Map Code/Grid
R36
House Number
704
Compass
W
Street Name
5TH
St Suffix
Street
City/Town Code
Tempe
State/Province
AZ
Zip Code
85281
Zip4
3525
Country
US
County Code
Maricopa
Subdivision
MONTERREY VILLAGE
Assessor Number
124-31-074
Tax Year
2017

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
316.34' x 101'
Year Built
1961
Uncvrd Parking Spcs
20
Total # of Units
17
# of Buildings
17
Zoning
R-3
Elementary School District
Tempe Elementary School District
High School District
Tempe Union High School District

Remarks Misc

Cross Street
W. 5th Street and S. Roosevelt Street

Status Change Info

Off Market Date
2018-05-15
Under Contract Date
2018-05-07
Close of Escrow Date
2018-07-05

Legal Info

Township
1N
Range
4E
Section
16
Lot Number
38

More Information

Efficiency Units

# Efficiency Units
2
Avg Rent
800
Avg SqFt
475
# Baths
Yes

1 Bedroom Units

# 1 Bedroom Units
11
Avg Rent
950
Avg SqFt
650
# Baths
Yes

2 Bedroom Units

# 2 Bedroom Units
4
Avg Rent
1150
Avg SqFt
850
# Baths
Yes

Structure

Bedrooms Total
21
Bathrooms Total
17

Income Expenses

Gross Annual Sch Inc
201000
Net Operating Income
143138

Contact Info

List Agent Home Phn
602-735-5634

Sold Info

Loan Type
Conventional
Loan Years
30
Payment Type
Fixed
Closing Cost Split
Normal - N
Buyer Concession $/%
%
Seller Concession $/%
%

Property Features

Project Type: 13 - 24 Units Construction: Block Const - Finish: Painted Roofing: Composition Floors: Ceramic Tile Sale Includes: Land & Building Payment Includes: Principal; Interest Community Features: No Pool Exterior Amenities: Landscape Water System Interior Features: Unfurnished; Vertical Blinds Appliances Included: Built-In Range; Refrigerator; Microwave; Washer/Dryer Heating: Individual Cooling: Electric; Individual Water Source: City Franchise Sewer: Sewer - Public Electric: Individual Meter Gas: SW Gas Parking Features: <1 Space Per Unit Road Surface Type: Asphalt Owner Pays: Water; Trash Collection Tenant Pays: Electricity Source of Fincl Data: Owner Existing 1st Loan: Conventional; 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 Othr Ln Trm: Not Applicable New Financing: Conventional Environmental: None
IDX
Listing Office: CBRE, Inc
Office Phone: 602-735-5603
Office Email: cathy.teeter@cbre.com
Last Updated: July - 05 - 2018
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