$995,000
Tempe, AZ 85281
MLS# 6657575
Status: Pending
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Property Description
ASU Investor Opportunity! Highly desired location just east of Arizona State University campus in Tempe, close to the light rail & 101/202. Four units, each are 2-bedroom, 1 bath. Two buildings, 1006 & 1008 S Dorsey Lane. Each unit has its own private backyard. All four HVAC units are less than 2 years old. Remodeled bathrooms in 3 of 4 units. Upgraded flooring in all four units! All appliances at property convey with sale. All units are vacant, clean, and ready to go. Suitable for tenants today, or upgrade kitchens & one bathroom for higher rents.
Details
Maps
Contract Info
Current Price: $995,000
List Price: $995,000
Status: Pending
List Date: 2024-01-31
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
House Number: 1006
Compass: S
Street Name: DORSEY
St Suffix: Lane
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 7386
Country: USA
County Code: Maricopa
Legal Description (Abbrev): LOT 4 MALARAN PARK 1 MCR 009138
Subdivision: MALARAN PARK 1
Assessor's Map #: 73
Assessor's Parcel #: 142
Add'l Parcels: No
Assessor Number: 132-73-142
Legal: LOT 4 MALARAN PARK 1 MCR 009138
Census Tract: 319101
Tax Municipality: Tempe
Taxes: 1853
Tax Year: 2023
Marketing Name: MALARAN PARK
General Property Description
Lot Size Dimensions: 80X110
Year Built: 1961
Uncvrd Parking Spcs: 6
Total # of Units: 4
# of Buildings: 2
Zoning: R3
Elementary School: Tempe High School
Jr. High School: Connolly Middle School
High School: Tempe High School
Elementary School District: Tempe Elementary School District
High School District: Tempe Union High School District
Remarks & Misc
Cross Street: RURAL & UNIVERSITY
Directions: East on Rural, from University. South on Dorsey Lane. West on Orange St. Units on your left. Park in lot in back of unit. Entrance between 1006 & 1008 buildings from parking lot.
Geo Lat: 33.418
Geo Lon: -111.917961
Status Change Info
Status Change Date: 2024-04-08
Off Market Date: 2024-04-08
Under Contract Date: 2024-04-07
Legal Info
Township: 1N
Range: 4E
Section: 23
Lot Number: 4
Income & Expenses
Annual Ins Exp: 1206
Annual Landscape Exp: 400
Annual Maint Exp: 1000
Annual Mgmt Exp: 1200
Annual Wtr/Swr Exp: 2700
Owner Association: No
Operating Exp: 8359
Gross Annual Sch Inc: 60000
Adjusted Gross Inc: 60000
Net Operating Income: 51641
Pmt & Rate Info
Cap Rate: 5.19
Equity: 995000
Showing Notification Methods
Showing Service: Aligned Showings
2 Bedroom Units
# 2 Bedroom Units: 4
Avg Rent: 1250
Avg SqFt: 768
# Baths: 1
Property Features
Project Type: Four Plex
Construction: Block
Const - Finish: Painted; Brick Trim/Veneer
Roofing: Comp Shingle
Floors: Concrete; Vinyl; Carpet
Sale Includes: Land & Building
Community Amenities: No Pool
Exterior Amenities: Fenced
Interior Amenities: Unfurnished
Appliances Included: F/S Oven/Range; Refrigerator
Heating: Natural Gas; Individual
Cooling: Individual; Central A/C
Water: City Franchise
Sewer: Sewer - Public
Electric: APS
Gas: SW Gas
Parking: Free
Roads/Streets: Asphalt
Owner Pays: Landscaping
Tenant Pays: Water; Sewer; Electric; Gas; Trash; Cable TV
Source of Fincl Data: Provided by Owner
Lockbox Type: Supra (ARMLS)
Existing 1st Loan: Treat as Free&Clear
New Financing: VA; FHA; Conventional
Reports/Disclosures: None
Environmental: None
Listing Office: eXp Realty
Last Updated: April - 08 - 2024
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