1211 W University Drive

    Tempe, AZ 85281
    • $1,149,727
    • STATUS: Active
    • ON SITE: 4 days
    • MLS #: 6002855
    New On Site 4 Days Ago
    UPDATED: 80 min ago
    $1,149,727
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1971
    County:
    Area:

    School Ratings & Info

    School District:

    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.

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    © 2019 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. The ARMLS logo indicates a property listed by a real estate brokerage other than The Kenny Klaus Team | Keller Williams Integrity First. Data last updated 2019-11-13T22:10:53.16.
    www.klausteam.com/homes/100702721

    1211 W University Drive Tempe, AZ 85281

    • Price: $1,149,727
    • Status: Active
    • Updated: 80 min ago
    • MLS #: 6002855
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    1971
    Built
    Neighborhood:
    Westgate Sub
    County:
    Maricopa
    Area:
    Tempe
    School District:
    003 - Tempe School District
    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.
    Exterior Features

    Construction Frame - WoodSlump Block Construction Finish PaintedStucco Covered Parking Spaces 6.00 Exterior Amenities Desert LandscapingFencedCable Tv AvailablePatio/BalconySeparate StorageSecurity Light(S) Lot Size Dimensions 74 X 104 Parking GarageOther (See Remarks)Carport>1 Space Per UnitAdd'l Parking Avail Roads AlleyDedicated StreetSidewalk(S) Roofing Comp Shingle Total Parking Spaces 14.00

    Interior Features

    1 Bedroom Unit Avg Sq Ft 0 1 Bedroom Unit Baths 0 2 Bedroom Unit Avg Sq Ft 735 2 Bedroom Units Baths 1 3 Bedroom Unit Avg Sq Ft 1500 3 Bedroom Unit Baths 2 4 Bedroom Unit Avg Sq Ft 0 4 Bedroom Unit Baths 0 Appliances Included F/S Oven/RangeRefrigeratorDishwasherMicrowaveWasher/Dryer Cooling Electric RefrigeratdWindow/Wall UnitHeat Pump Efficiency Unit Avg Sq Ft 0 Efficiency Unit Baths 0 Floors Vinyl/Composition Heating ElectricHeat PumpIndividualCeiling Fan(S) Interior Amenities UnfurnishedDrapesVertical BlindsFire/Smoke Alarm(S)Mini Blinds

    Property Features

    1 Bedroom Unit Avg Rent 0.00 1 Bedroom Units 0 2 Bedroom Unit Avg Rent 1092.00 2 Bedroom Units 4 3 Bedroom Unit Avg Rent 1775.00 3 Bedroom Units 1 4 Bedroom Unit Avg Rent 0.00 4 Bedroom Units 0 Adjusted Gross Inc 72993.69 Annual Elec Exp 0.00 Annual Gas Exp 0.00 Annual Ins Exp 1527.00 Annual Land Lse Exp 0.00 Annual Landscape Exp 600.00 Annual Legal And Acctg 0.00 Annual Maint Exp 1075.00 Annual Mgmt Exp 600.00 Annual Other Expense 0.00 Annual Ownr Asoc Fee 0.00 Annual Pad Fee 0.00 Annual Rplcmnt Rsrvs 0.00 Annual Trash Exp 0.00 Annual Wtr Swr Exp 1680.00 Community Amenities No Pool Cross Street University Dr. & Beck Efficiency Unit Avg Rent 0.00 Efficiency Units 0 Electric Individual MeterSrp Gas None Gross Annual Sch Inc 73731.00 Hoa YN No Net Operating Income 63235.00 New Financing Conventional1031 Exchange Operating Exp 8441.40 Other Income 0.00 Owner Pays WaterSewerTrashLandscaping Project Type 5 - 12 Units Sale Includes Land & BuildingPersonal PropertyLaundry Equipment Sewer Sewer - Public Source Of Financial Data Provided By Owner Special Owner/Agent Tax Municipality Tempe Taxes 2959.40 Tenant Pays WaterSewerElectricTrash Totl Mnth Rntal Inc 6144.29 Vacancy Allowance 0.01 Water City FranchiseIndividual Meter Zoning R-3

    Listing courtesy of Rattler Realty, Llc.


    © 2019 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. The ARMLS logo indicates a property listed by a real estate brokerage other than The Kenny Klaus Team | Keller Williams Integrity First. Data last updated 2019-11-13T22:10:53.16.
     
    The Kenny Klaus Team | Keller Williams Integrity First
    2919 S. Ellsworth Rd., #133
    Mesa AZ, 85212