1011 E ORANGE Street, Tempe, AZ 85281

$9,000,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $9,000,000 Last Modified: 8/23/2023

More Information MLS# 6444558

Contract Info

Ownership: Fee Simple Current Price: $9,000,000 Sold Price: $9,000,000 Status: Closed List Date: 2022-08-03

Location, Tax & Legal

Assessor's Map #: 73 Legal Description (Abbrev): TRACT B TERRACE PARK 1 MCR 009420 Assessor's Parcel #: 158 Assessor Parcel Ltr: B Add'l Parcels: No Tax Municipality: Tempe Census Tract: 319101 Taxes: 27654 Legal: to be provided at title Marketing Name: Park Terrace Map Code/Grid: R37 House Number: 1011 Compass: E Street Name: ORANGE St Suffix: Street City/Town Code: Tempe State/Province: AZ Zip Code: 85281 Zip4: 4048 County Code: Maricopa Subdivision: TERRACE PARK 1 Assessor Number: 132-73-158-B Tax Year: 2021

General Property Description

# of Buildings: 4 Uncvrd Parking Spcs: 2 Lot Size Dimensions: unknown Total # of Units: 40 Elementary School District: Tempe Elementary School District High School District: Tempe Union High School District Year Built: 1963 Zoning: R-4

Legal Info

Range: 4E Section: 23 Township: 1N Lot Number: unknown

Project Type

25 - 50 Units: 1

Construction

Block: 1

Const - Finish

Painted: 1

Roofing

Other: 1

Floors

Vinyl: 1

Sale Includes

Land & Building: 1

Income & Expenses

Owner Association: No Annual Ownr Asoc Fee: 0 Operating Exp: 27654 Other Income: 32457 Vacancy Allowance: 0.03 Adjusted Gross Inc: 724063.29

Pmt & Rate Info

Cap Rate: 5.89 Equity: 9250000 Down Payment %: 0 Monthly Payments: 0 Total Owed: 0

Showing Notification Methods

Text: 1 Email: 1 Phone Call: 1

Lockbox Type

None: 1

Community Features

No Pool: 1

Heating

Electric: 1

Cooling

Electric: 1

Tenant Pays

Electricity: 1 Other (See Remarks): 1

Appliances Included

None: 1

Road Surface Type

Asphalt: 1

Source of Fincl Data

Owner: 1

Water Source

City Franchise: 1

Sewer

Sewer - Public: 1

Parking Features

Other: 1

Electric

SRP: 1 Individual Meter: 1

Gas

None: 1

Owner Pays

Water: 1 Sewer: 1 Trash Collection: 1 Landscaping: 1 Other: 1

New Financing

Other (See Remarks): 1

Reports/Disclosures

Other (See Remarks): 1

Environmental

Other (See Remarks): 1

Efficiency Units

Avg Rent: 0

1 Bedroom Units

# 1 Bedroom Units: 22 Avg Rent: 1425 Avg SqFt: 453 # Baths: 1

2 Bedroom Units

# 2 Bedroom Units: 18 Avg Rent: 1625 Avg SqFt: 781 # Baths: 1

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Sold Info

Loan Type: Other Closing Cost Split: Normal - N Payment Type: Other Buyer Concession to Seller: 0 Buyer Concession $/%: $ Seller Concession to Buyer: 0 Seller Concession $/%: $

Remarks Misc

Geo Lat: 33.417459 Geo Lon: -111.922637

Status Change Info

Off Market Date: 2022-08-10 Under Contract Date: 2022-08-09 Close of Escrow Date: 2022-10-14 Sold Price: $9,000,000

Income Expenses

Gross Annual Sch Inc: 714000 Net Operating Income: 545236

Property Features

Project Type: 25 - 50 Units Construction: Block Const - Finish: Painted Roofing: Other Floors: Vinyl Sale Includes: Land & Building Community Features: No Pool Appliances Included: None Cooling: Electric Water Source: City Franchise Sewer: Sewer - Public Electric: SRP; Individual Meter Gas: None Parking Features: Other Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping; Other Tenant Pays: Electricity; Other (See Remarks) Source of Fincl Data: Owner Showing Notification Methods: Text; Email; Phone Call Lockbox Type: None New Financing: Other (See Remarks) Environmental: Other (See Remarks)

Listing Office: ABI Multifamily

Last Updated: August - 23 - 2023