845 W 1ST Street, Tempe, AZ 85281

$490,000
Property Type: Multiple Dwellings Bedrooms: 4 Baths: 4 Status: Closed
Current Price: $490,000 Last Modified: 8/06/2021

Overview

Description

845 West 1st Street is a single story, 4-unit apartment building located in the heart of Tempe, just west of the ASU's Tempe Campus. VALUE-ADD property in an AZ Opportunity Zone. Walking distance from the Mill Avenue corridor as well as Tempe Town Lake. The property lies within a mile of the nearest Light-Rail station located off of 3rd and Mill. Being nestled up to Tempe Beach Park allows residents to enjoy the best Tempe has to offer, such as the Tempe Festival of the Arts along with other similar events year round. Access to both the 202 Freeway and the 143 is just minutes away. With the 2 million square foot State Farm Campus, along with many other corporate developments taking place, the area has quickly become one of the most sought after places to live and work throughout Arizona.

Listing Details MLS# 5990651

Location, Tax & Legal

Map Code/Grid
R36
House Number
845
Compass
W
Street Name
1ST
St Suffix
Street
City/Town Code
Tempe
State/Province
AZ
Zip Code
85281
Zip4
2648
Country
US
County Code
Maricopa
Subdivision
MONTERREY VILLAGE PLAT 3 UNIT 1
Assessor Number
124-31-105
Tax Year
2019

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
97 Ft X 67 Ft
Year Built
1964
Uncvrd Parking Spcs
4
Total # of Units
4
# of Buildings
Yes
Zoning
R-3
Elementary School District
Tempe Elementary School District
High School District
Tempe Union High School District

Remarks Misc

Cross Street
West 1st Street & South Hardy Drive

Status Change Info

Off Market Date
2019-10-22
Under Contract Date
2019-10-18
Close of Escrow Date
2019-12-05

Legal Info

Township
1N
Range
4E
Section
16
Lot Number
7

More Information

1 Bedroom Units

# 1 Bedroom Units
4
Avg Rent
800
Avg SqFt
520
# Baths
Yes

Structure

Bedrooms Total
4
Bathrooms Total
4

Income Expenses

Gross Annual Sch Inc
40800
Net Operating Income
29771

Sold Info

Loan Type
Cash
Payment Type
Other
Closing Cost Split
Normal - N
Buyer Concession $/%
%
Seller Concession $/%
%

Property Features

Project Type: Four Plex Construction: Block Const - Finish: Painted Roofing: Foam; Rolled Floors: Ceramic Tile Sale Includes: Land & Building; Other (See Remarks) Community Features: Other; See Remarks Exterior Amenities: Landscape Water System; Other (See Remarks) Interior Features: Unfurnished; Fire/Smoke Alarm(s); Elevator(s) Appliances Included: Built-In Range; Refrigerator; Microwave; Other Heating: Other; See Remarks Cooling: Evaporative Cooling Water Source: City Franchise Sewer: Sewer - Public Electric: APS Gas: SW Gas Parking Features: On Street; 1 Space/Unit; >1 Space Per Unit; Other Road Access Type: Alley Road Surface Type: Asphalt Owner Pays: Water; Gas; Trash Collection; Landscaping Tenant Pays: Electricity; Other (See Remarks) Source of Fincl Data: Projected Proforma; Other (See Remarks) Special: Economic Redevelopment Zone Showing Notification Methods: No Notification Required to Show Lockbox Type: None Existing 1st Loan: Other (See Rmks) 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: Other (See Remarks) Environmental: Other (See Remarks)
IDX
Listing Office: ABI Multifamily
Office Phone: 602-714-1400
Last Updated: August - 06 - 2021
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