828 W 2ND Street, Tempe, AZ 85281

$700,000
Property Type: Multiple Dwellings Bedrooms: 8 Baths: 4 Status: Closed
Current Price: $700,000 Last Modified: 5/04/2026

Overview

Description

Welcome to Monterrey Village Place Apartments. This fully occupied apartments are all two bedroom 1 bath all with private yards and parking. Corner lot with a new block wall. All units have been updated with Ikea kitchens and some units have new flooring. The property has a washer and dryer that are leased on site. Property is self managed and rents are below market from the 600-850 range current cap is around a 3.74. Market rents are 1,100-1,250 proforma cap 5.73 after raised rents. Property is close to Tempe Town Lake ASU and freeways. All facts and figures are approximate buyer verify MLS information. Drive by only tenants are unware of sale.

Listing Details MLS# 6172846

Location, Tax & Legal

Map Code/Grid
R36
House Number
828
Compass
W
Street Name
2ND
St Suffix
Street
City/Town Code
Tempe
State/Province
AZ
Zip Code
85281
Zip4
2640
Country
US
County Code
Maricopa
Subdivision
MONTERREY VILLAGE PLAT 3 UNIT 2
Assessor Number
124-31-120
Tax Year
2020

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
6853
Year Built
1963
Uncvrd Parking Spcs
4
Total # of Units
4
# of Buildings
Yes
Zoning
R-3
High School District
Tempe Union High School District

Remarks Misc

Cross Street
Priest and 1st street

Status Change Info

Off Market Date
2021-03-20
Under Contract Date
2021-01-30
Close of Escrow Date
2021-03-19

Legal Info

Township
1N
Range
4E
Section
16
Lot Number
22

More Information

2 Bedroom Units

# 2 Bedroom Units
4
Avg Rent
1150
Avg SqFt
632
# Baths
Yes

Structure

Bedrooms Total
8
Bathrooms Total
4

Income Expenses

Gross Annual Sch Inc
55200
Net Operating Income
41208

Sold Info

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

Property Features

Project Type: Four Plex Other Type: Other (See Remarks) Construction: Block Const - Finish: Painted Roofing: Foam Floors: Concrete; Vinyl; Wood; Ceramic Tile Sale Includes: Other (See Remarks) Community Features: Other; See Remarks Exterior Amenities: Other (See Remarks) Interior Features: Other (See Remarks) Appliances Included: Other Heating: Central Cooling: Central Air Water Source: City Franchise Sewer: Sewer - Public Electric: APS Gas: Other (See Remarks) Parking Features: Carport; 1 Space/Unit Road Surface Type: Asphalt Owner Pays: Water; Trash Collection Tenant Pays: Electricity; Cable TV Source of Fincl Data: Owner; Projected Proforma Lockbox Type: None 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: Cash to Loan; VA; FHA; Conventional; 1031 Exchange Environmental: Other (See Remarks)
IDX
Listing Office: Grace CRE
Office Phone: 602-975-5516
Office Email: info@gracecre.com
Last Updated: May - 04 - 2026
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