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

Overview

Listing Details MLS# 6444558

Location, Tax & Legal

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
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

Contract Info

Ownership: Fee Simple

General Property Description

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

Status Change Info

Off Market Date: 2022-08-10
Under Contract Date: 2022-08-09
Close of Escrow Date: 2022-10-14

Legal Info

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

More Information

Income Expenses

Gross Annual Sch Inc: 714000
Net Operating Income: 545236

1 Bedroom Units

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

2 Bedroom Units

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

Sold Info

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

Project Type

25 - 50 Units: Yes

Construction

Block: Yes

Const - Finish

Painted: Yes

Roofing

Other: Yes

Floors

Vinyl: Yes

Sale Includes

Land & Building: Yes

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: Yes
Email: Yes
Phone Call: Yes

Lockbox Type

None: Yes

Community Features

No Pool: Yes

Heating

Electric: Yes

Cooling

Electric: Yes

Tenant Pays

Electricity: Yes
Other (See Remarks): Yes

Appliances Included

None: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

Other: Yes

Electric

SRP: Yes
Individual Meter: Yes

Gas

None: Yes

Owner Pays

Water: Yes
Sewer: Yes
Trash Collection: Yes
Landscaping: Yes
Other: Yes

New Financing

Other (See Remarks): Yes

Reports/Disclosures

Other (See Remarks): Yes

Environmental

Other (See Remarks): Yes

Efficiency Units

Avg Rent: 0

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

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