920 S KENWOOD Circle, Tempe, AZ 85281

$510,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $510,000 Last Modified: 11/22/2025

Description

Sunrise at Kenwood | Duplex Investment Opportunity in a Prime Tempe Location This well-maintained property features two spacious 2-bedroom, 1-bathroom units—each approximately 672 square feet—with huge pie shaped private backyards, with each having carport parking, and long-term tenancy in place. Investment Highlights: Both units are currently rented below market rates, offering significant upside potential. Unit A is leased at $1,305 per month through January 2026, while Unit B is on a month-to-month lease at $1,090. The average rent across both units is $1,197/month, with comparable market rents in the area suggesting potential increases with minor improvements or upon turnover.

Supplements: A major value-add feature of this property is the rare utility structuretenants pay all utilities, including water, sewer, trash, and electricity, minimizing owner operating expenses and maximizing NOI. Originally purchased in 2014, the property was fully remodeled and has been well maintained. Both units feature tile flooring throughout and include each washer/dryer. Unit A has been occupied since 2020, while the tenants in Unit B have been in place since acquisition. Location Benefits: Situated on a quiet cul-de-sac that backs up to a park, 920 S Kenwood Circle is ideally positioned near Arizona State University, the Tempe Streetcar and light rail system, the Loop 101 and 202 freeways, and Phoenix Sky Harbor International Airport. This location attracts steady rental demand from students, professionals, and long-term tenants alike. Whether you're seeking a stable, low-maintenance investment or a value-add opportunity in one of the Valley's most dynamic rental submarkets, 920 S Kenwood delivers strong fundamentals with additional upside. All facts and figures are approximate, buyer to verify the MLS.

More Information MLS# 6894124

Contract Info

Ownership: Fee Simple Current Price: $510,000 Sold Price: $510,000 Status: Closed List Date: 2025-07-17

Location, Tax & Legal

Assessor's Map #: 64 Legal Description (Abbrev): LOT 9 MALARAN PARK 2 MCR 009805 Assessor's Parcel #: 28 Add'l Parcels: No Tax Municipality: Tempe Census Tract: 319201 Taxes: 969 Legal: LOT 9 MALARAN PARK 2 MCR 009805 Marketing Name: Two on Kenwood House Number: 920 Compass: S Street Name: KENWOOD St Suffix: Circle City/Town Code: Tempe State/Province: AZ Zip Code: 85281 Zip4: 7734 County Code: Maricopa Subdivision: MALARAN PARK 2 Assessor Number: 132-64-028 Tax Year: 2024

General Property Description

# of Buildings: 1 Uncvrd Parking Spcs: 0 Lot Size Dimensions: 6,534 Flood Zone: No Total # of Units: 2 Elementary School District: Tempe School District High School District: Tempe Union High School District Year Built: 1962 Zoning: R-3

Legal Info

Range: 4E Section: 24 Township: 1N Lot Number: 9

Project Type

Duplex: 1 Other (See Remarks): 1

Construction

Block: 1 Brick: 1

Const - Finish

Painted: 1

Roofing

Built-Up: 1 Foam: 1

Floors

Ceramic Tile: 1 Carpet: 1

Sale Includes

Land & Building: 1

Income & Expenses

Annual Ins Exp: 1646 Annual Landscape Exp: 600 Annual Maint Exp: 100 Owner Association: No Annual Ownr Asoc Fee: 0 Operating Exp: 3315 Other Income: 0 Vacancy Allowance: 0.02 Adjusted Gross Inc: 28165.2

Pmt & Rate Info

Cap Rate: 4.62 Equity: 550000 Down Payment %: 0 Monthly Payments: 0 Total Owed: 0

Showing Notification Methods

Showing Service: Aligned Showings

Lockbox Type

None: 1

Community Features

No Pool: 1

Heating

Electric: 1

Cooling

Electric: 1

Exterior Amenities

Fenced: 1 Partially Fenced: 1

Interior Features

Fire/Smoke Alarm(s): 1

Tenant Pays

Electricity: 1 Cable TV: 1

Appliances Included

Free-Standing Range: 1

Road Access Type

Alley: 1

Road Surface Type

Asphalt: 1 Gravel: 1

Source of Fincl Data

Owner: 1 Projected Proforma: 1

Water Source

City Franchise: 1

Sewer

Sewer - Public: 1

Parking Features

Carport: 1 On Street: 1 Assigned: 1

Electric

SRP: 1

Gas

None: 1

Owner Pays

Water: 1 Sewer: 1 Trash Collection: 1

New Financing

Cash: 1 VA: 1 Conventional: 1 FHA: 1 1031 Exchange: 1 Other (See Remarks): 1

Existing 1st Loan

Treat as Free&Clear: 1

Reports/Disclosures

None: 1

Environmental

None: 1

Efficiency Units

Avg Rent: 0

1 Bedroom Units

Avg Rent: 1197

2 Bedroom Units

# 2 Bedroom Units: 2 Avg Rent: 1198 Avg SqFt: 672 # Baths: 1

3 Bedrooms Units

# 3 Bedroom Units: 2 Avg Rent: 0 Avg SqFt: 672

4 Bedrooms Units

Avg Rent: 0

Sold Info

Loan Type: Carryback Loan Years: 30 Closing Cost Split: Normal - N Payment Type: Balloon Buyer Concession to Seller: 0 Buyer Concession $/%: $ Seller Concession to Buyer: 0 Seller Concession $/%: $

Remarks Misc

Cross Street: University Dr & Smith Rd Geo Lat: 33.418546 Geo Lon: -111.901625

Status Change Info

Off Market Date: 2025-11-22 Under Contract Date: 2025-10-29 Close of Escrow Date: 2025-11-21 Sold Price: $510,000

Income Expenses

Gross Annual Sch Inc: 28740 Net Operating Income: 25425

Property Features

Project Type: Duplex; Other (See Remarks) Construction: Block; Brick Const - Finish: Painted Roofing: Built-Up; Foam Floors: Ceramic Tile; Carpet Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Fenced; Partially Fenced Interior Features: Fire/Smoke Alarm(s) Appliances Included: Free-Standing Range Cooling: Electric Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: None Parking Features: Carport; On Street; Assigned Road Access Type: Alley Road Surface Type: Gravel; Asphalt Owner Pays: Water; Trash Collection Tenant Pays: Electricity; Cable TV Source of Fincl Data: Owner; Projected Proforma Lockbox Type: None Existing 1st Loan: Treat as Free&Clear New Financing: Cash; VA; FHA; Conventional; 1031 Exchange; Other (See Remarks) Environmental: None
Listing Office: Grace CRE
IDX
Last Updated: November - 22 - 2025
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