809 W 1ST Street, Tempe, AZ 85281
$595,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$595,000
Last Modified:
10/15/2020
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
More Information MLS# 5980215
Contract Info
Ownership: Fee Simple
Current Price: $595,000
Sold Price: $595,000
Status: Closed
List Date: 2019-09-18
Location, Tax & Legal
Assessor's Map #: 31
Assessor's Parcel #: 111
Add'l Parcels: No
Tax Municipality: Tempe
Census Tract: 318800
Taxes: 1511
Legal: LOT 13 MONTERREY VILLAGE PLAT 3 UNIT 1 MCR 010241
Marketing Name: Four On First
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
County Code: Maricopa
Subdivision: MONTERREY VILLAGE PLAT 3 UNIT 1
Assessor Number: 124-31-111
Tax Year: 2019
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 2
Lot Size Dimensions: 61 X 97
Total # of Units: 4
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
Year Built: 1964
Zoning: multi
Legal Info
Range: 4E
Section: 16
Township: 1N
Lot Number: 13
Project Type
Four Plex: 1
Construction
Slump Block: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Concrete: 1
Vinyl: 1
Ceramic Tile: 1
Sale Includes
Land & Building: 1
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: 14500
Operating Exp: 16011
Other Income: 46800
Vacancy Allowance: 0
Adjusted Gross Inc: 46800
Pmt & Rate Info
Down Payment: 0
Equity: 609000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Showing Notification Methods
Phone Call: 1
Community Features
No Pool: 1
Heating
Natural Gas: 1
Individual: 1
Cooling
Central Air: 1
Exterior Amenities
Desert Landscaping: 1
Curb(s) & Gutter(s): 1
Cable TV Available: 1
Separate Storage: 1
Interior Features
Unfurnished: 1
Fire/Smoke Alarm(s): 1
Tenant Pays
Gas: 1
Electricity: 1
Cable TV: 1
Appliances Included
Refrigerator: 1
Free-Standing Range: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
On Street: 1
>1 Space Per Unit: 1
Paved: 1
Electric
APS: 1
Gas
SW Gas: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
New Financing
Conventional: 1
Special
Owner/Agent: 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 1
Existing 2nd Loan
Other (See Remarks): 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Other (See Remarks): 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
None: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 4
Avg Rent: 975
Avg SqFt: 644
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Conventional
Loan Years: 30
Closing Cost Split: Normal - N
Payment Type: Fixed
Buyer Concession to Seller: 0
Buyer Concession $/%: %
Seller Concession to Buyer: 0
Seller Concession $/%: %
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.
Geo Lat: 33.428855
Geo Lon: -111.950461
Status Change Info
Off Market Date: 2019-10-19
Under Contract Date: 2019-10-18
Close of Escrow Date: 2019-12-13
Sold Price: $595,000
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
Last Updated: October - 15 - 2020
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