903 S MARIANA Street, Tempe, AZ 85281 (MLS# 6124806)

903 S MARIANA Street, Tempe, AZ 85281

$650,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $650,000 Last Modified: 5/04/2026

Overview

Description

Welcome to Mariana Park Apartments. Located near ASU's Tempe campus, this fully occupied four-plex is tucked away in a quiet cul-de-sac. Property features all block construction, covered parking, new windows (on some units), central A/C, coin-operated leased laundry equipment, and mature landscaping. All units are 1bed/1bath. The parcel adjoins 902 S Mariana St, which is also a 4-plex for sale at $660,000 (MLS #6124320). Each parcel may be purchased separately; or may be purchased as a portfolio for $1,320,000 million (MLS #6124825) Cap Rate on current rent estimated at 4%,cap with average rents of $829. ProForma Cap Rate estimated at 5.46 %, based on market rents of $1050 per unit.

Supplements: Property has a filled in pool that sits in a large court yard. Units have some updated units with granite counter tops and all tile floors. All facts and figures are approximate buyer verify MLS information. Drive by only tenants unaware of sale.

Listing Details MLS# 6124806

Location, Tax & Legal

Map Code/Grid: R37
House Number: 903
Compass: S
Street Name: MARIANA
St Suffix: Street
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 7354
Country: US
County Code: Maricopa
Subdivision: MARIANA PARK I
Assessor Number: 132-73-150
Tax Year: 2019
Assessor's Map #: 73
Legal Description (Abbrev): MARIANA PARK I
Assessor's Parcel #: 150
Add'l Parcels: No
Tax Municipality: Tempe
Census Tract: 319103
Taxes: 1246
Legal: LOT 4 MARIANA PARK I MCR 009404
Marketing Name: Mariana Park Apartments

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 10,053 sqft
Year Built: 1959
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
Elementary School: Flora Thew Elementary School
Jr. High School: Connolly Middle School
High School: McClintock High School

Remarks Misc

Cross Street: University Dr & Dorsey
Directions: From University Dr, turn south (right) onto Dorsey Ln, then turn right (west) onto Orange St, then right (north) onto Mariana St. Continue to the end of cul-de-sac.

Status Change Info

Off Market Date: 2021-03-15
Under Contract Date: 2021-02-15
Close of Escrow Date: 2021-03-15

Legal Info

Township: 1N
Range: 4E
Section: 23
Lot Number: 4

More Information

Income Expenses

Gross Annual Sch Inc: 50400
Net Operating Income: 35576

1 Bedroom Units

# 1 Bedroom Units: 4
Avg Rent: 859.5
Avg SqFt: 480
# Baths: Yes

Sold Info

Loan Type: Conventional
Loan Years: 30
Payment Type: Fixed
Closing Cost Split: Seller Assist - A
Buyer Concession $/%: $
Seller Concession to Buyer: 13500
Seller Concession $/%: $
Buyer Concession to Seller: 0

Project Type

Four Plex: Yes

Construction

Block: Yes

Const - Finish

Painted: Yes

Roofing

Rolled: Yes

Floors

Ceramic Tile: Yes

Sale Includes

Land & Building: Yes
Personal Property: Yes

Income & Expenses

Annual Elec Exp: 500
Annual Ins Exp: 1400
Annual Landscape Exp: 1200
Annual Maint Exp: 3000
Annual Mgmt Exp: 2063
Annual Trash Exp: 1500
Annual Wtr/Swr Exp: 1500
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 12409
Other Income: 150
Vacancy Allowance: 0.05
Adjusted Gross Inc: 48022.5

Pmt & Rate Info

Cap Rate: 5.39
Down Payment: 0
Equity: 660000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0

Lockbox Type

None: Yes

Community Features

No Pool: Yes

Heating

Natural Gas: Yes
Individual: Yes
Central: Yes

Cooling

Central Air: Yes
Electric: Yes
Individual: Yes

Tenant Pays

Gas: Yes
Electricity: Yes
Cable TV: Yes

Appliances Included

Microwave: Yes
Refrigerator: Yes
Free-Standing Range: Yes
Washer/Dryer: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes
Projected Proforma: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

Carport: Yes
1 Space/Unit: Yes

Electric

SRP: Yes

Gas

SW Gas: Yes
Individual Meter: Yes

Owner Pays

Water: Yes
Sewer: Yes
Trash Collection: Yes
Landscaping: Yes

New Financing

VA: Yes
Conventional: Yes
FHA: Yes
1031 Exchange: Yes

Special

Accept Backups (CLO): Yes

Reports/Disclosures

Seller Prop Disc Stm: Yes

Environmental

None: Yes

Efficiency Units

Avg Rent: 0

2 Bedroom Units

Avg Rent: 0

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: Four Plex Construction: Block Const - Finish: Painted Roofing: Rolled Floors: Ceramic Tile Sale Includes: Land & Building; Personal Property Community Features: No Pool Appliances Included: Free-Standing Range; Refrigerator; Microwave; Washer/Dryer Heating: Natural Gas; Individual; Central Cooling: Electric; Individual; Central Air Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: SW Gas; Individual Meter Parking Features: Carport; 1 Space/Unit Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity; Gas; Cable TV Source of Fincl Data: Owner; Projected Proforma Special: Accept Backups (CLO) Lockbox Type: None New Financing: VA; FHA; Conventional; 1031 Exchange Environmental: None

Listing Office: Grace CRE

Last Updated: May - 04 - 2026