1211 W University Drive, Tempe, AZ 85281

$1,070,600
Sold Price
$1,070,600
List Price
$1,149,727
Closing Date
Feb 28, 2020
Days on Market
111
Status
CLOSED
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, Heat Pump, Window/Wall Unit
Electric
Individual Meter, SRP
Exterior Amenities
Cable TV Available, Desert Landscaping, Fenced, Patio/Balcony, Security Light(s), Separate Storage
Finish
Painted, Stucco
Floors
Vinyl/Composition
Gas
None
Guest House Sq Ft
14
Heating
Ceiling Fan(s), Electric, Heat Pump, Individual
Interior Amenities
Drapes, Fire/Smoke Alarm(s), Mini Blinds, Unfurnished, Vertical Blinds
Lot Size
6
New Financing
1031 Exchange, Conventional
Parking
>1 Space Per Unit, Add'l Parking Avail, Carport, Garage, Other (See Remarks)
Project Type
5 - 12 Units
Roofing
Comp Shingle
Sewer
Sewer - Public
Pool
Yes
Subdivision
Westgate Sub
Taxes
$2,959
Tenant Pays
Electric, Sewer, Trash, Water
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
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Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Rattler Realty, LLC. Selling Office: Amazing AZ Homes.

All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.