Listing ID6319982
Sold For$2,889,610
StatusClosed
Sold Date3/18/2022
CountyMaricopa
SubdivisionPECAN GROVE ESTATES
Year Built1962
Property TypeMultiple Dwellings
Beautiful mid century modern gray brick apartment complex in 3 bldgs on 3 lots with a pool courtyard. All units remodeled in 2002-2021 with new kitchens, appliances, etc etc. Two units are furnished. 4 Units have backyards. All units have full size washer dryers so old laundry room is now vacant and attached to a storage room. Might make a nice studio apt.
County
Maricopa
Property Type
Multiple Dwellings
Subdivision
PECAN GROVE ESTATES
Year Built
1962
Zoning
R-3
1 Bedroom Units # Baths
1
1 Bedroom Units Avg SqFt
620
Cooling
Electric, Ceiling Fan(s), See Remarks
Cooling
yes
Heating
Electric
Heating
yes
Community Features
Other, See Remarks, Pool
Country
US
Directions
North on University to 4th St. East to property on southwest corner of 4th Street and Beck.
Elementary School
Scales Technology Academy
Elementary School District
Tempe Elementary School District
General Property Description Elementary School
Scales Technology Academy
General Property Description Elementary School District2
Tempe Elementary School District
General Property Description High School
Tempe High School
General Property Description High School District
Tempe Union High School District
General Property Description Jr High School
Geneva Epps Mosley Middle School
High School
Tempe High School
High School District
Tempe Union High School District
Middle Or Junior School
Geneva Epps Mosley Middle School
Postal City
Tempe
Township
1N
Water Source
City Franchise
Attached Garage
no
Construction Materials
Brick Veneer, Brick, Frame - Wood
Electric
SRP
General Property Description # of Buildings
3
General Property Description Lot Size Dimensions
165x94
General Property Description Total # of Units
10
General Property Description Uncvrd Parking Spcs
8
Lot Size Dimensions
165x94
Number Of Buildings
3
Number Of Units Total
10
Open Parking Spaces
8
Parking Features
Other (See Remarks), 1 Space/Unit, Street Parking
Parking Total
8
Road Surface Type
Asphalt
Roof
See Remarks, Composition
Sewer
Public Sewer
Buyer Agency Compensation
2.00
Mls Status
Closed
Public Survey Range
4E
Public Survey Section
16
1 Bedroom Units Avg Rent
1295
Cap Rate
5.07
Current Financing
Not Applicable
Disclosures
None
Electric Expense
1200
Gardener Expense
2400
Gross Income
182189.84
Gross Scheduled Income
182308
Insurance Expense
3600
Listing Terms
Conventional, 1031 Exchange
Maintenance Expense
3600
Net Operating Income
152228
Operating Expense
35080
Other Expense
12080
Owner Pays
Other, Water, Sewer
Tax Annual Amount
5000
Tax Book Number
124.00
Tax Lot
3
Tax Year
2021
Tenant Pays
Electricity
Water Sewer Expense
7200
Contact - Listing ID 6319982
Michael Bohlman
2425 S. Stearman Dr. Suite 120
Chandler, AZ 85286
Phone: 480-797-3800
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