$1,100,000
Tempe, AZ 85282
MLS# 6707013
1 / 11
Property Description
1217 W Southern Ave is a 4-unit multifamily community located in the West Tempe Submarket of Tempe, AZ. This asset is strategically positioned within close proximity to the ASU Tempe campus, and features 100% two-bedroom, 1 bathroom floorplans averaging approximately 750 sq. ft. The building underwent a significant renovation in 2017 and has a new roof along with on-site laundry and storage. Each unit features fully renovated interiors and a gated patio area, with a current average rent of $1,550/month. This is a unique opportunity to acquire a turn-key asset located in a highly desirable location. CONTACT LISTING AGENT FOR A COPY OF THE OM
Details
Maps
Contract Info
Current Price: $1,100,000
List Price: $1,100,000
Status: Active
List Date: 2024-05-17
Ownership: Fee Simple
Subagents: N
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
House Number: 1217
Compass: W
Street Name: Southern
St Suffix: Avenue
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85282
Zip4: 4526
Country: USA
County Code: Maricopa
Legal Description (Abbrev): TRACT H WESTWAY PARK MCR 012324
Subdivision: WESTWAY PARK
Assessor's Map #: 42
Assessor's Parcel #: 69
Add'l Parcels: No
Assessor Number: 123-42-069
Legal: TRACT H WESTWAY PARK MCR 012324
Census Tract: 319705
Tax Municipality: Maricopa - COUNTY
Taxes: 2533
Tax Year: 2023
Marketing Name: 1217 W Southern Ave
General Property Description
Lot Size Dimensions: 9250
Year Built: 1970
Uncvrd Parking Spcs: 4
Total # of Units: 4
# of Buildings: 1
Zoning: M-M
Elementary School District: Tempe Elementary School District
High School District: Tempe Union High School District
Remarks & Misc
Geo Lat: 33.392536
Geo Lon: -111.957547
Status Change Info
Status Change Date: 2024-05-17
Legal Info
Township: 1N
Range: 4E
Section: 33
Income & Expenses
Annual Elec Exp: 659
Annual Ins Exp: 1260
Annual Maint Exp: 420
Annual Wtr/Swr Exp: 2079
Owner Association: No
Annual Other Expense: 830
Operating Exp: 7781
Gross Annual Sch Inc: 60122
Other Income: 5400
Vacancy Allowance: 2878
Adjusted Gross Inc: 188506794
Net Operating Income: 51087
Pmt & Rate Info
Cap Rate: 4.64
Equity: 1100000
Showing Notification Methods
Showing Service: Aligned Showings
2 Bedroom Units
# 2 Bedroom Units: 4
Avg Rent: 1000
Avg SqFt: 750
# Baths: 1
Property Features
Project Type: Four Plex
Construction: Block
Const - Finish: Painted
Roofing: Comp Shingle
Floors: Ceramic Tile
Sale Includes: Land & Building
Community Amenities: No Pool
Appliances Included: F/S Oven/Range; Refrigerator; Dishwasher; Microwave
Heating: None; Other; See Remarks
Cooling: Electric
Water: City Franchise
Sewer: Sewer - Public
Electric: APS
Gas: Other (See Remarks)
Parking: Carport
Roads/Streets: Gravel; Dirt
Owner Pays: Water; Trash Collection
Tenant Pays: Electric
Source of Fincl Data: Other (See Remarks)
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
Existing 1st Ln Type: Not Applicable
Existing 1st Ln Trms: Not Applicable
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Ln Type: Not Applicable
Existing 2nd Ln Trms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Ln Type: Not Applicable
Existing 3rd Ln Trms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional
Reports/Disclosures: None
Environmental: Other (See Remarks)
Listing Office: Matthews Real Estate Investment Services
Last Updated: May - 17 - 2024
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