$3,276,000
Tempe, AZ 85281
MLS# 6705889
1 / 10
Property Description
Located at 1825 E Don Carlos Ave in Tempe, AZ, 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 occupied. The unit mix comprises of (12) 1x1 units, and (2) 2x,1 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: 2024-05-14
Ownership: Fee Simple
Subagents: N
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: Don Carlos
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: 2024-05-15
Legal Info
Township: 1N
Range: 4E
Section: 24
Lot Number: 36
Income & Expenses
Owner Association: No
Operating Exp: 4987
Gross Annual Sch Inc: 222240
Vacancy Allowance: 0.04
Adjusted Gross Inc: 213350.4
Net Operating Income: 175000
Pmt & Rate Info
Cap Rate: 5.34
Down Payment %: 52
Monthly Payments: 8333
Equity: 3276000
Showing Notification Methods
Showing Service: Aligned Showings
1 Bedroom Units
# 1 Bedroom Units: 12
Avg Rent: 1324
Avg SqFt: 600
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 2
Avg Rent: 1475
Avg SqFt: 775
# Baths: 1
Property Features
Project Type: 13 - 24 Units
Construction: Block
Const - Finish: Painted
Roofing: Other (See Remarks)
Floors: Vinyl
Sale Includes: Land & Building
Community Amenities: Barbecue
Exterior Amenities: Green Landscaping; Desert Landscaping; Fenced; Security Light(s); Guard Gate
Appliances Included: Refrigerator; Microwave; Washer/Dryer
Heating: Individual
Cooling: Individual
Water: Individual Meter
Sewer: Sewer - Public
Electric: Other (See Remarks)
Gas: None
Parking: Street Parking; >1 Space Per Unit
Roads/Streets: Asphalt
Owner Pays: Water; Trash Collection
Tenant Pays: None
Source of Fincl Data: Provided by Owner
Lockbox Type: None
New Financing: Cash; Conventional; No Carry; 1031 Exchange
Reports/Disclosures: None
Environmental: None
Listing Office: Matthews Real Estate Investment Services
Last Updated: May - 15 - 2024
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