Listing ID6508373
Sold For$1,550,000
StatusClosed
Sold Date4/20/2023
CountyMaricopa
SubdivisionNORTH TEMPE 2
Year Built1969
Property TypeMultiple Dwellings
DEVELOPMENT OPPORTUNITY! Fully renovated 5 plex with great unit mix, large backyards and room to develop 2 additional large units per current zoning. Four 2 bed 1 bath units (two duplexes) and one 3 bed 2 bath SFR fully occupied grossing $8,240/mo. All units have beeb fully gutted inside and out and all systems replaced. 4 new HVAC units, all New Roofs, All new electrical panels, all new windows, and entire interiors. Over $600,000 spent on this property.
County
Maricopa
Property Type
Multiple Dwellings
Subdivision
NORTH TEMPE 2
Year Built
1969
Zoning
R-2
2 Bedroom Units # Baths
1
2 Bedroom Units Avg SqFt
2856
3 Bedrooms Units # Baths
2
3 Bedrooms Units Avg SqFt
2100
Cooling
2 or More Units, Central A/C, Ceiling Fan(s)
Cooling
yes
Heating
Central, 2 or More Units
Heating
yes
Community Features
No Pool
Country
US
Directions
Heading South on Scottsdale Road, Turn left onto Weber Dr, then take a Right onto Scovel St. Take first right onto Harry and the property is on the corner
Elementary School District
Tempe Elementary School District
General Property Description Elementary School District2
Tempe Elementary School District
General Property Description High School District
Tempe Union High School District
High School District
Tempe Union High School District
Postal City
Tempe
Township
1N
Water Source
City Franchise
Attached Garage
no
Construction Materials
Siding, Painted, Stucco, Block
Electric
SRP
General Property Description # of Buildings
3
General Property Description Lot Size Dimensions
TBD
General Property Description Total # of Units
5
General Property Description Uncvrd Parking Spcs
15
Lot Size Dimensions
TBD
Number Of Buildings
3
Number Of Units Total
5
Open Parking Spaces
15
Parking Features
>1 Space Per Unit
Parking Total
15
Road Surface Type
Gravel
Roof
Composition, Foam
Sewer
Public Sewer
Buyer Agency Compensation
2.50
Mls Status
Closed
Public Survey Range
4E
Public Survey Section
11
2 Bedroom Units Avg Rent
1535
3 Bedrooms Units Avg Rent
2100
Cap Rate
5.07
Disclosures
None
Gross Income
95913.6
Gross Scheduled Income
98880
Listing Terms
CTL, Conventional, 1031 Exchange, VA Loan, Wraparound, Trade
Net Operating Income
91233.6
Operating Expense
4680
Owner Pays
See Remarks, Water
Tax Annual Amount
2880
Tax Book Number
132.00
Tax Lot
202
Tax Year
2022
Tenant Pays
Trash Collection, Gas, Electricity, Water, Sewer, Cable TV
Water Sewer Expense
1800
Contact - Listing ID 6508373
Michael Bohlman
2425 S. Stearman Dr. Suite 120
Chandler, AZ 85286
Phone: 480-797-3800
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