x
Address
1211 W University Drive Tempe, AZ
Price
$ 1,149,727
Property Attributes
  • MLS#6002855
  • TypeMulti-Family
  • CountyMARICOPA
  • CityTempe
  • NeighborhoodWestgate Sub
  • Zip85281
  • Style
  • Year Built1971
  • Taxes2959
  • Price$ 1,149,727
  • Bedrooms11
  • Full Bathrooms6
  • Half Bathrooms0
  • Sqr Footage4440
Listing Provided Courtesy Of:
Rattler Realty, LLC
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.

Price History
11/8/2019 Listed $1,149,727

General Features

1 Bedroom Units: Avg Rent 0.00
2 Bedroom Units: Avg Rent 1092.00
3 Bedrooms Units: Avg Rent 1775.00
3 Bedrooms Units: Avg Sqft 1500
4 Bedrooms Units: Avg Rent 0.00
Construction Frame - Wood, Slump Block
Features No Pool
Map Code/Grid R36
Net Income 63235.00
New Financing Conventional, 1031 Exchange
Owner Pays Water, Sewer, Trash, Landscaping
Parking Garage, Other (See Remarks), Carport, >1 Space Per Unit, Add'l Parking Avail
Property Type F
Public Remarks 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
School District 003 - Tempe School District
Special Owner/Agent
Status Active
Subdivision WESTGATE SUB
Tenant Pays Water, Sewer, Electric, Trash
Year Built 1971
Zoning R-3

Interior Features

2 Bedroom Units: # 2 Bedroom Units 4
2 Bedroom Units: # Baths 1
2 Bedroom Units: Avg Sqft 735
3 Bedrooms Units: # 3 Bedroom Units 1
3 Bedrooms Units: # Baths 2
Appliances Included F/S Oven/Range, Refrigerator, Dishwasher, Microwave, Washer/Dryer
Cooling Electric Refrigeratd, Window/Wall Unit, Heat Pump
Electric Individual Meter, SRP
Floors Vinyl/Composition
Gas None
Heating Electric, Heat Pump, Individual, Ceiling Fan(s)
Interior Features Unfurnished, Drapes, Vertical Blinds, Fire/Smoke Alarm(s), Mini Blinds
Total Number of Units 5.00

Exterior Features

Sale Includes Land & Building, Personal Property, Laundry Equipment
Const - Finish Painted, Stucco
Covered Parking Spcs 6.00
Exterior Features Desert Landscaping, Fenced, Cable TV Available, Patio/Balcony, Separate Storage, Security Light(s)
Lot Size Dimensions 74 x 104
Roof Comp Shingle
Sewer Sewer - Public
Total Parking Spcs 14.00
Water City Franchise, Individual Meter

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 85281

Price
AVG $1.37M
$1.15M
Taxes
AVG $5,186
$2,959
Visits
AVG 239
63
Year Built
AVG 1965
1971

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