1019 E Tempe Drive, Tempe, AZ 85281

$1,400,000
Sold Price
$1,400,000
List Price
$1,600,000
Status
CLOSED
Closing Date
Sep 27, 2023
Days on Market
451
MLS#
6396943
City
Tempe
Year Built
1955

Property Description

''The Traveler'' is comprised of (6) 1 bedroom units (448 sqf/ea) that all function as full time vacation rental units. The property features off-street parking & an enclosed common area w/ hot tub, community laundry, putting green & sitting area. All unit interiors have been extensively upgraded. The entire building received a new electrical system w/ separate metering installed in '20. New roof in '21. 2 New HVAC units in '21, other 4 units are newer, all w/ Nest thermostats. Located on a huge 15k+ SF corner lot the site could also offer development potential & possible future assemblage scenario. All furniture, appliances & hot tub convey in current condition.

Additional Information

Taxes
$2,021
Net Operating Income
$102,330
Cap Rate
6.21
Units
6
Flooring
Concrete
Parking Features
1 Space/Unit, Street Parking
Construction
Painted, Stone, Block
Roofing
Rolled/Hot Mop
Zoning
R-2
Subdivision
North Tempe
Community Features
Barbecue, Golf/Putting Green, Play Area, Heated Spa(s), No Pool
Electric
APS, Individual Meter
Water
City Franchise, Master Meter
Sewer
Public Sewer
Tenant Pays
None
New Financing
Conventional, 1031 Exchange
School District
Tempe Union High School District

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of HomeSmart. Selling Office: HomeSmart.

All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright 2024 Arizona Regional Multiple Listing Service, Inc. All rights reserved.