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

903 S MARIANA Street, Tempe, AZ 85281

$650,000

Property Type: Multiple Dwellings Bedrooms: 4 Baths: 4 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

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

1 Bedroom Units

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

Structure

Bedrooms Total: 4
Bathrooms Total: 4

Income Expenses

Gross Annual Sch Inc: 50400
Net Operating Income: 35576

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 $/%: $

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

Office Phone: 602-975-5516

Office Email: info@gracecre.com

Last Updated: May - 04 - 2026