903 S MARIANA Street, Tempe, AZ 85281
$650,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$650,000
Last Modified:
2/02/2026
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.
More Information MLS# 6124806
Contract Info
Ownership: Fee Simple
Current Price: $650,000
Sold Price: $650,000
Status: Closed
List Date: 2020-08-28
Location, Tax & Legal
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
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
County Code: Maricopa
Subdivision: MARIANA PARK I
Assessor Number: 132-73-150
Tax Year: 2019
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 4
Lot Size Dimensions: 10,053 sqft
Total # of Units: 4
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
Year Built: 1959
Zoning: R-3
Legal Info
Range: 4E
Section: 23
Township: 1N
Lot Number: 4
Project Type
Four Plex: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Rolled: 1
Floors
Ceramic Tile: 1
Sale Includes
Land & Building: 1
Personal Property: 1
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: 1
Community Features
No Pool: 1
Heating
Natural Gas: 1
Individual: 1
Central: 1
Cooling
Central Air: 1
Electric: 1
Individual: 1
Tenant Pays
Gas: 1
Electricity: 1
Cable TV: 1
Appliances Included
Microwave: 1
Refrigerator: 1
Free-Standing Range: 1
Washer/Dryer: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Projected Proforma: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Carport: 1
1 Space/Unit: 1
Electric
SRP: 1
Gas
SW Gas: 1
Individual Meter: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
New Financing
VA: 1
Conventional: 1
FHA: 1
1031 Exchange: 1
Special
Accept Backups (CLO): 1
Reports/Disclosures
Seller Prop Disc Stm: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 4
Avg Rent: 859.5
Avg SqFt: 480
# Baths: 1
2 Bedroom Units
Avg Rent: 0
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Conventional
Loan Years: 30
Closing Cost Split: Seller Assist - A
Payment Type: Fixed
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 13500
Seller Concession $/%: $
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.
Geo Lat: 33.418976
Geo Lon: -111.9184
Status Change Info
Off Market Date: 2021-03-15
Under Contract Date: 2021-02-15
Close of Escrow Date: 2021-03-15
Sold Price: $650,000
Income Expenses
Gross Annual Sch Inc: 50400
Net Operating Income: 35576
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: February - 02 - 2026
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