Ownership: Fee Simple
Current Price: $7,450,000
Sold Price: $7,450,000
Status: Closed
List Date: 2019-07-18
Unit #: 1033
Assessor's Map #: 10
Legal Description (Abbrev): LOT 2 NEWPORT AT TEMPE MCR 118037
Assessor's Parcel #: 113
Add'l Parcels: Yes
Tax Municipality: Maricopa - COUNTY
Census Tract: 318400
Taxes: 57000
Legal: LOT 2 NEWPORT AT TEMPE MCR 118037
Marketing Name: The Newport
Map Code/Grid: Q37
House Number: 1106
Compass: E
Street Name: WEBER
St Suffix: Drive
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85288
Zip4: 0919
County Code: Maricopa
Subdivision: NEWPORT AT TEMPE
Assessor Number: 132-10-113
Tax Year: 2018
# of Buildings: 17
Uncvrd Parking Spcs: 0
Lot Size Dimensions: 2.30
Total # of Units: 17
Elementary School District: Scottsdale Unified District
High School District: Tempe Union High School District
Year Built: 2017
Zoning: R1-Pad
Range: 4E
Section: 11
Township: 1N
Lot Number: 2
Painted: 1
Stucco: 1
Siding: 1
Ceramic Tile: 1
Carpet: 1
Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 0
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 0
Annual Mgmt Exp: 0
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 0
Owner Association: Yes
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 57000
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 616800
Cap Rate: 6.42
Down Payment: 0
Equity: 7450000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Pool: 1
Spa(s): 1
Clubhouse: 1
Exercise Room: 1
Game/Rec Room: 1
Sport Court: 1
Electric: 1
Individual: 1
ENERGY STAR Qualified Equipment: 1
Ceiling Fan(s): 1
ENERGY STAR Qualified Equipment: 1
Central Air: 1
Electric: 1
Individual: 1
Landscape Water System: 1
Patio/Balcony: 1
Water: 1
Sewer: 1
Electricity: 1
Trash Collection: 1
Cable TV: 1
Built-In Range: 1
Refrigerator: 1
Dishwasher: 1
Disposal: 1
Microwave: 1
Washer/Dryer: 1
City Franchise: 1
Individual Meter: 1
Garage: 1
>1 Space Per Unit: 1
Attached: 1
SRP: 1
Individual Meter: 1
Gas: 1
Landscaping: 1
Pool Maintenance: 1
Conventional: 1
Other (See Remarks): 1
List Agent Home Phn: 602-735-5634
# 2 Bedroom Units: 1
Avg Rent: 3050
Avg SqFt: 1702
# Baths: 4
# 3 Bedroom Units: 16
Avg Rent: 3050
Avg SqFt: 1737
# Baths: 4
Loan Type: Cash
Closing Cost Split: Normal - N
Payment Type: Other
Buyer Concession to Seller: 0
Buyer Concession $/%: %
Seller Concession to Buyer: 0
Seller Concession $/%: %
Geo Lat: 33.445722
Geo Lon: -111.921906
Off Market Date: 2019-09-23
Under Contract Date: 2019-09-20
Close of Escrow Date: 2019-12-31
Sold Price: $7,450,000
Gross Annual Sch Inc: 616800
Net Operating Income: 478256
Project Type: 13 - 24 Units
Construction: Wood Frame
Const - Finish: Painted; Stucco; Siding
Roofing: Built-Up
Floors: Ceramic Tile; Carpet
Sale Includes: Land & Building
Community Features: Pool; Spa(s); Clubhouse; Exercise Room; Game/Rec Room; Sport Court
Exterior Amenities: Landscape Water System; Patio/Balcony
Appliances Included: Built-In Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer
Heating: Individual; ENERGY STAR Qualified Equipment
Cooling: Ceiling Fan(s); Electric; Individual; Central Air; ENERGY STAR Qualified Equipment
Water Source: City Franchise; Individual Meter
Sewer: Sewer - Public
Electric: SRP; Individual Meter
Gas: City Gas
Parking Features: Garage; >1 Space Per Unit; Attached
Owner Pays: Gas; Landscaping; Pool Maintenance
Tenant Pays: Water; Sewer; Electricity; Trash Collection; Cable TV
Source of Fincl Data: Owner
Showing Notification Methods: Email
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
Existing 2nd Loan: Treat as Free&Clear
Existing 3rd Loan: Treat as Free&Clear
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional; Other (See Remarks)
Environmental: None