Listing ID6299497
Sold For$905,000
StatusClosed
Sold Date12/10/2021
CountyMaricopa
SubdivisionMARIANA PARK 2
Year Built1962
Property TypeMultiple Dwellings
HIGHLY sought ASU location. Walking distance and fully renovated units with inside washer and dryers. New fully renovated electric, new plumbing, new roof, new windows, new everything. This magnificent brick building is in perfect condition, 100% occupancy with low maintenance tenants, low expenses, and well kept grounds. This property is currently rented for $961 per unit with terms ending between May and June next year. No HOA, walking distance to light rail, and proforma rentals between to $1600 to $2200 student housing units. Perfect opportunity for the savvy investor. Don't miss this one! Low maintenance with two gorgeous palm trees at the front. No large messy trees that compromise your new roof.
County
Maricopa
Property Type
Multiple Dwellings
Subdivision
MARIANA PARK 2
Year Built
1962
Zoning
MH
Cooling
Individual, Wall/Window Unit(s)
Cooling
yes
Efficiency Units # Baths
1
Efficiency Units # Efficiency Units
4
Efficiency Units Avg SqFt
452
Heating
Electric
Heating
yes
Community Features
See Remarks, No Pool
Country
US
Directions
From University Drive. South on Dorsey Ln, West on Orange St, South on Mariana St
Elementary School
Broadmor Elementary School
Elementary School District
Tempe Elementary School District
General Property Description Elementary School
Broadmor Elementary School
General Property Description Elementary School District2
Tempe Elementary School District
General Property Description High School
McClintock High School
General Property Description High School District
Tempe Union High School District
High School
McClintock High School
High School District
Tempe Union High School District
Postal City
Tempe
Township
1N
Water Source
City Franchise
Attached Garage
no
Construction Materials
Painted, Block
Electric
APS
General Property Description # of Buildings
1
General Property Description Lot Size Dimensions
118*66
General Property Description Total # of Units
4
General Property Description Uncvrd Parking Spcs
4
Lot Size Dimensions
118*66
Number Of Buildings
1
Number Of Units Total
4
Open Parking Spaces
4
Parking Features
1 Space/Unit
Parking Total
4
Road Surface Type
Asphalt
Roof
Rolled/Hot Mop
Sewer
Public Sewer
Buyer Agency Compensation
1.50
Mls Status
Closed
Public Survey Range
4E
Public Survey Section
23
Cap Rate
3.07
Current Financing
Not Applicable
Disclosures
None
Efficiency Units Avg Rent
965
Fuel Expense
360
Gross Income
46200
Gross Scheduled Income
46200
Insurance Expense
600
Listing Terms
Conventional, 1031 Exchange
Net Operating Income
30579
Operating Expense
3287
Owner Pays
Other, Trash Collection, Water, Sewer, Landscaping
Tax Annual Amount
1127
Tax Book Number
132.00
Tax Lot
18
Tax Year
2021
Tenant Pays
Electricity
Water Sewer Expense
1200
Contact - Listing ID 6299497
Michael Bohlman
2425 S. Stearman Dr. Suite 120
Chandler, AZ 85286
Phone: 480-797-3800
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