1211 W University Drive, Tempe, AZ 85281

$1,149,727
List Price
$1,149,727
Days on Market
31
Status
ACTIVE
MLS#
6002855
City
Tempe
Lot Size
6
Subdivision
Westgate Sub
Year Built
1971

Property Description

Solid Cash Flow Tempe Apartment Building Generating $63,235 NOI - Ready for new owner. (Great 1031 Placement Option) Located within a mile of ASU, Mill Ave and Tempe Town Area. 4,405 sq ft of living space across 5 units. Wholefoods just opened and area is bustling with new retail and development. Property has consistently performed well and had major renovation in 2017. There is still room for ''value-add'' here to further increase rents to market - to increase cash flow and market value in this high growth area of Tempe.First floor has a large 3bd/2bth apartment and a 2br/1bth apartment (cost per unit is not a viable measurement here). Second floor, surrounding the sundeck are three 2bd/1bth apartments that are fully remodeled and work well for the property.

Additional Information

School District
003 - Tempe School District
Construction
Frame - Wood, Slump Block
Cooling
Electric Refrigeratd, Window/Wall Unit, Heat Pump
Electric
Individual Meter, SRP
Exterior Amenities
Desert Landscaping, Fenced, Cable TV Available, Patio/Balcony, Separate Storage, Security Light(s)
Finish
Painted, Stucco
Floors
Vinyl/Composition
Gas
None
Guest House Sq Ft
14
Heating
Electric, Heat Pump, Individual, Ceiling Fan(s)
Interior Amenities
Unfurnished, Drapes, Vertical Blinds, Fire/Smoke Alarm(s), Mini Blinds
Lot Size
6
New Financing
Conventional, 1031 Exchange
Parking
Garage, Other (See Remarks), Carport, >1 Space Per Unit, Add'l Parking Avail
Project Type
5 - 12 Units
Roofing
Comp Shingle
Sewer
Sewer - Public
Pool
Yes
Subdivision
Westgate Sub
Taxes
$2,959
Tenant Pays
Water, Sewer, Electric, Trash
Units
5
Water
City Franchise, Individual Meter
Zoning
R-3

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Rattler Realty, LLC.

All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright 2019 Arizona Regional Multiple Listing Service, Inc. All rights reserved.