845 W 1ST Street, Tempe, AZ 85281
$780,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$780,000
Last Modified:
3/09/2023
Description
845 West 1st Street consists of (4) 1-bedroom units in a mid-century, block-constructed, single-story building. This value-add opportunity is one that is hard to pass up. 845 West 1st Street is a single story, 4-unit apartment building located in the heart of Tempe, just west of the Arizona State University's Tempe Campus. The Property is 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.
More Information MLS# 6303383
Contract Info
Ownership: Fee Simple
Current Price: $780,000
Sold Price: $780,000
Status: Closed
List Date: 2021-10-05
Location, Tax & Legal
Assessor's Map #: 31
Legal Description (Abbrev): LOT 7 MONTERREY VILLAGE NO. 3 UNIT 1 MCR 010241
Assessor's Parcel #: 105
Add'l Parcels: No
Tax Municipality: Tempe
Census Tract: 318800
Taxes: 1600
Legal: LOT 7 MONTERREY VILLAGE NO. 3 UNIT 1 MCR 010241
Marketing Name: 845 W 1st
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
County Code: Maricopa
Subdivision: MONTERREY VILLAGE NO. 3 UNIT 1
Assessor Number: 124-31-105
Tax Year: 2021
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 2
Lot Size Dimensions: 67.75 87.33 97.37 55.82
Flood Zone: No
Total # of Units: 4
Elementary School District: Tempe Elementary School District
High School District: Tempe Union High School District
Year Built: 1964
Zoning: R-3
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
Vinyl: 1
Sale Includes
Building(s) Only: 1
Income & Expenses
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 1600
Other Income: 400
Vacancy Allowance: 0.05
Adjusted Gross Inc: 54872
Pmt & Rate Info
Cap Rate: 5.26
Equity: 780000
Down Payment %: 25
Monthly Payments: 2452
Total Owed: 0
Payment Includes
Principal: 1
Interest: 1
Showing Notification Methods
No Notification Required to Show: 1
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Window/Wall Unit(s): 1
Cooling
Ceiling Fan(s): 1
Evaporative Cooling: 1
Window/Wall Unit: 1
Interior Features
Unfurnished: 1
Tenant Pays
Electricity: 1
Appliances Included
Disposal: 1
Microwave: 1
Refrigerator: 1
Built-In Range: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Projected Proforma: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Carport: 1
1 Space/Unit: 1
Electric
SRP: 1
Gas
Other (See Remarks): 1
Owner Pays
Water: 1
Sewer: 1
Landscaping: 1
New Financing
Conventional: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 4
Avg Rent: 955
Avg SqFt: 520
# Baths: 1
2 Bedroom Units
Avg Rent: 0
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Exchange
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
Geo Lat: 33.42886
Geo Lon: -111.951697
Status Change Info
Off Market Date: 2021-11-17
Under Contract Date: 2021-10-11
Close of Escrow Date: 2021-11-16
Sold Price: $780,000
Income Expenses
Gross Annual Sch Inc: 57360
Net Operating Income: 41046
Property Features
Project Type: Four Plex
Construction: Block
Const - Finish: Painted
Roofing: Foam
Floors: Vinyl
Sale Includes: Building(s) Only
Payment Includes: Principal; Interest
Community Features: No Pool
Interior Features: Unfurnished
Appliances Included: Built-In Range; Refrigerator; Disposal; Microwave
Heating: Window/Wall Unit(s)
Cooling: Ceiling Fan(s); Window/Wall Unit; Evaporative Cooling
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: Other (See Remarks)
Parking Features: Carport; 1 Space/Unit
Road Surface Type: Asphalt
Owner Pays: Water; Landscaping
Tenant Pays: Electricity
Source of Fincl Data: Projected Proforma
Showing Notification Methods: No Notification Required to Show
Lockbox Type: None
New Financing: Conventional
Environmental: None
Listing Office:
ABI Multifamily
Last Updated: March - 09 - 2023
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