825 W 3RD Street, Tempe, AZ 85281
$522,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$522,000
Last Modified:
10/30/2018
Description
TEMPE 4Plex in paradise like cul de sac, fully leased income property. This property is in the heart of Tempe, near Arizona State University (ASU), close to Tempe Town Lake, close to Mill Avenue and not far from Sky Harbor Airport. This property is a magnet for high quality tenants that will treat their apartments like home. Many features include brick construction, dual pane windows and brand new 2 ton AC Units, installed in 2018. Each unit is individually metered for electric. Tile is laid throughout the property for low maintenance. Desert landscaping consumes low water and is set on timer for hands off management.
More Information MLS# 5787201
Contract Info
Ownership: Fee Simple
Current Price: $522,000
Sold Price: $522,000
Status: Closed
List Date: 2018-06-29
Location, Tax & Legal
Assessor's Map #: 31
Legal Description (Abbrev): LOT 7 MONTERREY VILLAGE PLAT 2 AMD MCR 010201
Assessor's Parcel #: 96
Add'l Parcels: No
Tax Municipality: Tempe
Census Tract: 318800
Taxes: 1465.74
Legal: LOT 7 MONTERREY VILLAGE PLAT 2 AMD MCR 010201
Marketing Name: Remodeled Tempe 4Plex
Map Code/Grid: R36
House Number: 825
Compass: W
Street Name: 3RD
St Suffix: Street
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 2622
County Code: Maricopa
Subdivision: MONTERREY VILLAGE PLAT 2 AMD
Assessor Number: 124-31-096
Tax Year: 2018
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 4
Lot Size Dimensions: 7751
Total # of Units: 4
Elementary School District: Tempe Elementary School District
High School District: Tempe Union High School District
High School: Tempe High School
Year Built: 1963
Zoning: R3
Legal Info
Range: 4E
Section: 16
Township: 1N
Lot Number: 7
Project Type
Four Plex: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Foam: 1
Floors
Ceramic Tile: 1
Sale Includes
Land & Building: 1
Laundry Equipment: 1
Income & Expenses
Annual Elec Exp: 670
Annual Gas Exp: 0
Annual Ins Exp: 686
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: 744
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 3565.74
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 40320
Pmt & Rate Info
Cap Rate: 6.68
Down Payment: 0
Equity: 550000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Assessment Bal Yrs: 2017
Community Features
No Pool: 1
Heating
Heat Pump: 1
Electric: 1
Individual: 1
Cooling
Ceiling Fan(s): 1
Electric: 1
Exterior Amenities
Landscape Water System: 1
Desert Landscaping: 1
Interior Features
Unfurnished: 1
Tenant Pays
Electricity: 1
Appliances Included
Microwave: 1
Refrigerator: 1
Free-Standing Range: 1
Washer/Dryer: 1
W/D Hookup: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Master Meter: 1
Sewer
Sewer - Public: 1
Sewer-In & Connected: 1
Parking Features
Carport: 1
Electric
APS: 1
Gas
SW Gas: 1
Owner Pays
Water: 1
Sewer: 1
New Financing
Conventional: 1
1031 Exchange: 1
Special
Owner/Agent: 1
Existing 1st Loan
Conventional: 1
Existing 1st Loan Type
Fixed: 1
Existing 1st Loan Terms
Non Assumable: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
Seller Prop Disc Stm: 1
Other (See Remarks): 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
# 1 Bedroom Units: 4
Avg Rent: 860
Avg SqFt: 550
# Baths: 1
2 Bedroom Units
Avg Rent: 0
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Conventional
Loan Years: 30
Closing Cost Split: Seller Paid - S
Payment Type: Fixed
Buyer Concession to Seller: 2
Buyer Concession $/%: %
Seller Concession to Buyer: 0
Seller Concession $/%: %
Remarks Misc
Cross Street: Mill & University
Directions: Mill north to 5th St, 5th Street to McKemy St, right on Brown St, left of McKemy, then left on 3rd St
Geo Lat: 33.426848
Geo Lon: -111.951034
Status Change Info
Off Market Date: 2018-10-26
Under Contract Date: 2018-09-27
Close of Escrow Date: 2018-10-29
Sold Price: $522,000
Income Expenses
Gross Annual Sch Inc: 40320
Net Operating Income: 36755
Property Features
Project Type: Four Plex
Construction: Block
Const - Finish: Painted
Roofing: Foam
Floors: Ceramic Tile
Sale Includes: Land & Building; Laundry Equipment
Community Features: No Pool
Exterior Amenities: Landscape Water System; Desert Landscaping
Interior Features: Unfurnished
Appliances Included: Free-Standing Range; Refrigerator; Microwave; Washer/Dryer; W/D Hookup
Heating: Individual; Heat Pump
Cooling: Ceiling Fan(s); Electric
Water Source: City Franchise; Master Meter
Sewer: Sewer - Public; Sewer-In & Connected
Electric: APS
Gas: SW Gas
Parking Features: Carport
Road Surface Type: Asphalt
Owner Pays: Water
Tenant Pays: Electricity
Source of Fincl Data: Owner
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; 1031 Exchange
Environmental: None
Listing Office:
Equity Arizona Real Estate
Last Updated: October - 30 - 2018
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