845 W 1ST Street, Tempe, AZ 85281 (MLS# 6303383)

845 W 1ST Street, Tempe, AZ 85281

$780,000

Property Type: Multiple Dwellings Bedrooms: 4 Baths: 4 Status: Closed

Current Price: $780,000 Last Modified: 3/09/2023

Overview

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.

Listing Details MLS# 6303383

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 NO. 3 UNIT 1
Assessor Number: 124-31-105
Tax Year: 2021

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 67.75 87.33 97.37 55.82
Year Built: 1964
Uncvrd Parking Spcs: 2
Total # of Units: 4
# of Buildings: Yes
Zoning: R-3
Flood Zone: No
Elementary School District: Tempe Elementary School District
High School District: Tempe Union High School District

Status Change Info

Off Market Date: 2021-11-17
Under Contract Date: 2021-10-11
Close of Escrow Date: 2021-11-16

Legal Info

Township: 1N
Range: 4E
Section: 16
Lot Number: 7

More Information

1 Bedroom Units

# 1 Bedroom Units: 4
Avg Rent: 955
Avg SqFt: 520
# Baths: Yes

Structure

Bedrooms Total: 4
Bathrooms Total: 4

Income Expenses

Gross Annual Sch Inc: 57360
Net Operating Income: 41046

Sold Info

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

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

Office Phone: 602-714-1400

Last Updated: March - 09 - 2023