Ownership: Fee Simple
Current Price: $3,900,000
Sold Price: $3,900,000
Status: Closed
List Date: 2022-04-25
Assessor's Map #: 42
Legal Description (Abbrev): LOT 1 ASH ESTATES MCR 111930
Assessor's Parcel #: 118
Add'l Parcels: No
Tax Municipality: Tempe
Census Tract: 319000
Taxes: 11571
Legal: LOT 1 ASH ESTATES MCR 111930
Marketing Name: The District on Ash
Map Code/Grid: R37
House Number: 959
Compass: S
Street Name: ASH
St Suffix: Avenue
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 8695
County Code: Maricopa
Subdivision: ASH ESTATES
Assessor Number: 132-42-118
Tax Year: 2021
# of Buildings: 4
Uncvrd Parking Spcs: 6
Lot Size Dimensions: 19,948
Total # of Units: 7
High School District: Tempe Union High School District
Elementary School: Tavan Elementary School
High School: Tempe High School
Year Built: 2013
Zoning: R-3
Range: 4E
Section: 22
Township: 1N
Lot Number: 1
Wood Frame: 1
Steel Frame: 1
Annual Elec Exp: 755
Annual Gas Exp: 0
Annual Ins Exp: 3421
Annual Land Lse Exp: 0
Annual Landscape Exp: 4800
Annual Legal & Acctg: 1500
Annual Maint Exp: 2100
Annual Mgmt Exp: 12500
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 0
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 4752
Annual Other Expense: 4200
Operating Exp: 45599
Other Income: 0
Vacancy Allowance: 0.03
Adjusted Gross Inc: 265566.6
Total Monthly Rental Income: 19815
Cap Rate: 5.61
Equity: 3990000
Down Payment %: 100
Monthly Payments: 0
Total Owed: 0
Central Air: 1
Electric: 1
Heat Pump: 1
Individual: 1
Landscape Water System: 1
Green Landscaping: 1
Cable TV Available: 1
Patio/Balcony: 1
Pet Restrictions: 1
Security Light(s): 1
Gas: 1
Water: 1
Electricity: 1
Trash Collection: 1
Cable TV: 1
Free-Standing Range: 1
Refrigerator: 1
Dishwasher: 1
Disposal: 1
Washer/Dryer: 1
Garage: 1
On Street: 1
>1 Space Per Unit: 1
Attached: 1
Paved: 1
Garage Door Opener: 1
Assigned: 1
APS: 1
Individual Meter: 1
SW Gas: 1
Individual Meter: 1
Conventional: 1
No Carry: 1
# 1 Bedroom Units: 1
Avg Rent: 1882
Avg SqFt: 896
# Baths: 1
# 2 Bedroom Units: 1
Avg Rent: 2723
Avg SqFt: 1100
# Baths: 2
# 3 Bedroom Units: 5
Avg Rent: 3047
Avg SqFt: 1648
# Baths: 35
Loan Type: Conventional
Loan Years: 30
Closing Cost Split: Normal - N
Payment Type: Fixed
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Cross Street: Mill and University
Directions: West on University from Mill to Ash. South on Ash to the property on the East side of the street.
Geo Lat: 33.41975
Geo Lon: -111.942033
Off Market Date: 2022-07-15
Under Contract Date: 2022-06-25
Close of Escrow Date: 2022-07-27
Sold Price: $3,900,000
Gross Annual Sch Inc: 273780
Net Operating Income: 223854
Project Type: 5 - 12 Units
Construction: Wood Frame; Steel Frame
Const - Finish: Painted; Siding
Roofing: Composition
Floors: Wood
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Landscape Water System; Green Landscaping; Cable TV Available; Patio/Balcony; Pet Restrictions; Security Light(s)
Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Washer/Dryer
Heating: Central
Cooling: Electric; Heat Pump; Individual; Central Air
Water Source: City Franchise
Sewer: Sewer - Public
Electric: APS; Individual Meter
Gas: SW Gas; Individual Meter
Parking Features: Garage; On Street; >1 Space Per Unit; Attached; Garage Door Opener; Assigned; Paved
Owner Pays: Landscaping
Tenant Pays: Water; Electricity; Gas; Trash Collection; Cable TV
Source of Fincl Data: Owner
Status Update: Multiple Offers Recd
Showing Notification Methods: Text
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; No Carry
Environmental: None
