1011 E ORANGE Street, Tempe, AZ 85281 (MLS# 6444558)

Contract Info

Ownership: Fee Simple

Current Price: $9,000,000

Sold Price: $9,000,000

Status: Closed

List Date: 2022-08-03

Location, Tax & Legal

Assessor's Map #: 73

Legal Description (Abbrev): TRACT B TERRACE PARK 1 MCR 009420

Assessor's Parcel #: 158

Assessor Parcel Ltr: B

Add'l Parcels: No

Tax Municipality: Tempe

Census Tract: 319101

Taxes: 27654

Legal: to be provided at title

Marketing Name: Park Terrace

Map Code/Grid: R37

House Number: 1011

Compass: E

Street Name: ORANGE

St Suffix: Street

City/Town Code: Tempe

State/Province: AZ

Zip Code: 85281

Zip4: 4048

Country: US

County Code: Maricopa

Subdivision: TERRACE PARK 1

Assessor Number: 132-73-158-B

Tax Year: 2021

General Property Description

# of Buildings: 4

Uncvrd Parking Spcs: 2

Lot Size Dimensions: unknown

Total # of Units: 40

Elementary School District: Tempe Elementary School District

High School District: Tempe Union High School District

Year Built: 1963

Zoning: R-4

Legal Info

Range: 4E

Section: 23

Township: 1N

Lot Number: unknown

Project Type

25 - 50 Units: 1

Efficiency Units

Avg Rent: 0

1 Bedroom Units

# 1 Bedroom Units: 22

Avg Rent: 1425

Avg SqFt: 453

# Baths: 1

2 Bedroom Units

# 2 Bedroom Units: 18

Avg Rent: 1625

Avg SqFt: 781

# Baths: 1

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Structure

Bedrooms Total: 58

Bathrooms Total: 40

Construction

Block: 1

Const - Finish

Painted: 1

Roofing

Other: 1

Floors

Vinyl: 1

Sale Includes

Land & Building: 1

Income & Expenses

Owner Association: No

Annual Ownr Asoc Fee: 0

Operating Exp: 27654

Other Income: 32457

Vacancy Allowance: 0.03

Adjusted Gross Inc: 724063.29

Pmt & Rate Info

Cap Rate: 5.89

Equity: 9250000

Down Payment %: 0

Monthly Payments: 0

Total Owed: 0

Showing Notification Methods

Text: 1

Email: 1

Phone Call: 1

Lockbox Type

None: 1

Community Features

No Pool: 1

Heating

Electric: 1

Cooling

Electric: 1

Tenant Pays

Electricity: 1

Other (See Remarks): 1

Appliances Included

None: 1

Road Surface Type

Asphalt: 1

Source of Fincl Data

Owner: 1

Water Source

City Franchise: 1

Sewer

Sewer - Public: 1

Parking Features

Other: 1

Electric

SRP: 1

Individual Meter: 1

Gas

None: 1

Owner Pays

Water: 1

Sewer: 1

Trash Collection: 1

Landscaping: 1

Other: 1

New Financing

Other (See Remarks): 1

Reports/Disclosures

Other (See Remarks): 1

Environmental

Other (See Remarks): 1

Sold Info

Loan Type: Other

Closing Cost Split: Normal - N

Payment Type: Other

Buyer Concession to Seller: 0

Buyer Concession $/%: $

Seller Concession to Buyer: 0

Seller Concession $/%: $

Remarks Misc

Geo Lat: 33.417459

Geo Lon: -111.922637

Status Change Info

Off Market Date: 2022-08-10

Under Contract Date: 2022-08-09

Close of Escrow Date: 2022-10-14

Sold Price: $9,000,000

Income Expenses

Gross Annual Sch Inc: 714000

Net Operating Income: 545236

Property Features

Project Type: 25 - 50 Units

Construction: Block

Const - Finish: Painted

Roofing: Other

Floors: Vinyl

Sale Includes: Land & Building

Community Features: No Pool

Appliances Included: None

Cooling: Electric

Water Source: City Franchise

Sewer: Sewer - Public

Electric: SRP; Individual Meter

Gas: None

Parking Features: Other

Road Surface Type: Asphalt

Owner Pays: Water; Trash Collection; Landscaping; Other

Tenant Pays: Electricity; Other (See Remarks)

Source of Fincl Data: Owner

Showing Notification Methods: Text; Email; Phone Call

Lockbox Type: None

New Financing: Other (See Remarks)

Environmental: Other (See Remarks)

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