$3,276,000
Tempe, AZ 85281
MLS# 6676181
1 / 18
Property Description
Located at 1825 E Don Carlos Ave in Tempe, Arizona, this investment opportunity presents a promising prospect for investors seeking value and growth. Originally built in 1979 and recently renovated in 2023, this property boasts 14 units in total, all of which are currently fully occupied. The unit mix comprises (12) one-bedroom, one-bathroom units and (2) two-bedroom, one-bathroom units, catering to a diverse range of renters. Its strategic location offers proximity to Arizona State University (ASU) and the bustling Tempe Marketplace, enhancing its appeal to potential tenants seeking convenience and access to amenities.
Details
Maps
Contract Info
Current Price: $3,276,000
List Price: $3,276,000
Status: Active
List Date: 2024-03-12
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
House Number: 1825
Compass: E
Street Name: DON CARLOS
St Suffix: Avenue
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 4535
Country: USA
County Code: Maricopa
Legal Description (Abbrev): RANCHO EL DORADO MCR 32/40 LOT 36 EX TH PT LY S OF ELY PROLG OF S LN LEMON ST
Subdivision: RANCHO EL DORADO 1-26, 36-44
Assessor's Map #: 66
Assessor's Parcel #: 38
Assessor Parcel Ltr: D
Add'l Parcels: No
Assessor Number: 132-66-038-D
Legal: RANCHO EL DORADO MCR 32/40 LOT 36 EX TH PT LY S OF ELY PROLG OF S LN LEMON ST
Census Tract: 319201
Tax Municipality: Tempe
Taxes: 4987
Tax Year: 2023
Marketing Name: N/A
General Property Description
Lot Size Dimensions: 95.92x229.11
Year Built: 1979
Uncvrd Parking Spcs: 25
Total # of Units: 14
# of Buildings: 1
Zoning: R-4
Elementary School District: Tempe Elementary School District
High School District: Tempe Union High School District
Remarks & Misc
Geo Lat: 33.417108
Geo Lon: -111.907458
Status Change Info
Status Change Date: 2024-03-12
Legal Info
Township: 1N
Range: 4E
Section: 24
Lot Number: 36
Income & Expenses
Owner Association: No
Operating Exp: 4987
Gross Annual Sch Inc: 210187
Other Income: 6720
Vacancy Allowance: 0.04
Adjusted Gross Inc: 208230.72
Net Operating Income: 171878
Pmt & Rate Info
Cap Rate: 5.25
Down Payment %: 66
Monthly Payments: 8358
Equity: 3276000
Showing Notification Methods
Showing Service: No Showing Service Used
1 Bedroom Units
# 1 Bedroom Units: 12
Avg Rent: 1300
Avg SqFt: 600
# Baths: 12
2 Bedroom Units
# 2 Bedroom Units: 2
Avg Rent: 1470
Avg SqFt: 800
# Baths: 2
Property Features
Project Type: 13 - 24 Units
Construction: Other (See Remarks)
Const - Finish: Painted
Roofing: Other (See Remarks)
Floors: Vinyl
Sale Includes: Land & Building; Laundry Equipment
Payment Includes: Interest
Community Amenities: No Pool; Barbecue; Other
Exterior Amenities: Green Landscaping; Desert Landscaping; Fenced; Security Light(s)
Interior Amenities: Other (See Remarks)
Appliances Included: Refrigerator; Dishwasher; Microwave; Washer/Dryer
Cooling: Electric
Water: City Franchise
Sewer: Sewer - Public
Electric: APS
Gas: Other (See Remarks)
Parking: Street Parking; >1 Space Per Unit
Roads/Streets: Asphalt; Sidewalk(s)
Owner Pays: Water; Electric; Trash Collection; Landscaping
Tenant Pays: Other (See Remarks)
Source of Fincl Data: Provided by Owner
Lockbox Type: None
Existing 1st Loan: Private
Existing 1st Ln Type: Adjustable/Graduated
Existing 1st Ln Trms: Non Assumable
New Financing: VA; Conventional; No Carry; 1031 Exchange; Affordable Housing
Reports/Disclosures: None
Environmental: None
Listing Office: Hague Partners
Last Updated: April - 24 - 2024
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