809 W 1ST Street, Tempe, AZ 85281 (MLS# 5980215)

809 W 1ST Street, Tempe, AZ 85281

$595,000

Property Type: Multiple Dwellings Bedrooms: 8 Baths: 4 Status: Closed

Current Price: $595,000 Last Modified: 10/15/2020

Overview

Description

Four on First is a four-unit apartment community located in the highly desirable North Tempe Submarket. Developed in 1964, the property is comprised of one single level building containing four units, composed of 100% two-bedroom one bath units. The apartment exterior showcases well maintained desert landscaping facing First Street, and spacius corridors on either side of the building allowing for ease of access. A new investor can take advantage of the value add nature of the deal, realizing rental premiums of $100+ per unit after moderate renovatiuons to the interior/exterior.

Supplements: Another potential source of revenue are the individual storage units: renting them out individually would create another source of revenue. Additionally, the availability of residential financing helps even further

Listing Details MLS# 5980215

Location, Tax & Legal

Map Code/Grid: R36
House Number: 809
Compass: W
Street Name: 1ST
St Suffix: Street
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 2654
Country: US
County Code: Maricopa
Subdivision: MONTERREY VILLAGE PLAT 3 UNIT 1
Assessor Number: 124-31-111
Tax Year: 2019

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 61 X 97
Year Built: 1964
Uncvrd Parking Spcs: 2
Total # of Units: 4
# of Buildings: Yes
Zoning: multi
High School District: Tempe Union High School District
Elementary School: Tempe Academy Of International Studies McKemy Campus
Jr. High School: Tempe Academy Of International Studies McKemy Campus
High School: Tempe Academy Of International Studies McKemy Campus

Remarks Misc

Cross Street: Hardy and 1st Street
Directions: From Rio Salado Pkwy: South on South Hardy Dr. to West 1st St. Turn East on West 1st St. See property is on the right hand side.

Status Change Info

Off Market Date: 2019-10-19
Under Contract Date: 2019-10-18
Close of Escrow Date: 2019-12-13

Legal Info

Township: 1N
Range: 4E
Section: 16
Lot Number: 13

More Information

2 Bedroom Units

# 2 Bedroom Units: 4
Avg Rent: 975
Avg SqFt: 644
# Baths: Yes

Structure

Bedrooms Total: 8
Bathrooms Total: 4

Sold Info

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

Property Features

Project Type: Four Plex Construction: Slump Block Const - Finish: Painted Roofing: Composition Floors: Concrete; Vinyl; Ceramic Tile Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Desert Landscaping; Curb(s) & Gutter(s); Cable TV Available; Separate Storage Interior Features: Unfurnished; Fire/Smoke Alarm(s) Appliances Included: Free-Standing Range; Refrigerator Heating: Natural Gas; Individual Cooling: Central Air Water Source: City Franchise Sewer: Sewer - Public Electric: APS Gas: SW Gas Parking Features: On Street; >1 Space Per Unit; Paved Road Surface Type: Asphalt Owner Pays: Water; Trash Collection Tenant Pays: Electricity; Gas; Cable TV Source of Fincl Data: Owner Special: Owner/Agent Showing Notification Methods: Phone Call Existing 1st Loan: Treat as Free&Clear 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: Conventional Environmental: None

Listing Office: Platinum Living Realty

Office Phone: 480-794-1694

Office Email: michelle@PlatinumLivingre.com

Last Updated: October - 15 - 2020