1320-1312 W 5TH Street, Tempe, AZ 85281

$1,150,000

Property Type: Multiple Dwellings Status: Active

Current Price: $1,150,000 Last Modified: 3/05/2025

Description

Prime location just blocks from Hayden-Ferry Landing, Mill/ASU, and a few minutes to Old Town Scottsdale. In an OZ. Hard to find & bigger than the competition all 2 bedroom unit mix (822sf/unit). Stabilized 6 CAP +/-. Long-term, local owners have pride of ownership. Many recent renovations to some units including plumbing, kitchens/baths, windows, roof, etc. Classic features to value-add further. Excellent rents in place from $1795-$1595. Flexible month-to-month leases. The complex offers more amenities than the competition, including carport parking, fenced front yards with private back patios, individual laundry/ storage rooms, gorgeous desert landscaping, and a pretty central courtyard. More like homes than apartments. The kind of investment you're proud to own.

More Information MLS# 6830355

Contract Info

Current Price: $1,150,000 List Price: $1,150,000 Status: Active List Date: 2025-03-03 Ownership: Fee Simple

Location Tax Legal

House Number: 1320-1312 Compass: W Street Name: 5TH St Suffix: Street City/Town Code: Tempe State/Province: AZ Zip Code: 85281 Zip4: 2895 Country: USA County Code: Maricopa Subdivision: JO-ELLEN HOMES Assessor Number: 124-28-034 Tax Year: 2024

General Property Description

Lot Size Dimensions: .384 acres Year Built: 1961 Uncvrd Parking Spcs: 4 Total # of Units: 4 # of Buildings: 2 Zoning: R-2 High School District: Tempe Union High School District

Remarks Misc

Cross Street: Priest and Rio Salado Directions: 202 to Priest to 5th. Geo Lat: 33.42577 Geo Lon: -111.960085

Status Change Info

Status Change Date: 2025-03-05

Legal Info

Township: 1N Range: 4E Section: 16 Lot Number: 11

Income Expenses

Gross Annual Sch Inc: 81600 Net Operating Income: 68570

Showing Notification Methods

Showing Service: No Showing Service Used

2 Bedroom Units

# 2 Bedroom Units: 4 Avg Rent: 1700 Avg SqFt: 822 # Baths: 1

Property Features

Project Type: Four Plex Other Type: Packaged Offering Construction: Block Const - Finish: Painted Roofing: Comp Shingle Floors: Ceramic Tile; Other Sale Includes: Land & Building; Laundry Equipment; Other (See Remarks) Payment Includes: Principal; Interest Community Amenities: No Pool; Other; See Remarks Exterior Amenities: Landscape Wtr System; Desert Landscaping; Fenced; Partially Fenced; RV/Boat Parking; Cable TV Available; Patio/Balcony; Security Light(s); Other (See Remarks) Interior Amenities: Unfurnished; Fire/Smoke Alarm(s); Mini Blinds; Drapes; Other (See Remarks) Appliances Included: F/S Oven/Range; Refrigerator; Dishwasher; Disposal; Washer/Dryer; Other (See Remarks) Heating: Heat Pump Cooling: Electric; Heat Pump Water: City Franchise Sewer: Sewer - Public Electric: SRP Gas: None Parking: Carport; 1 Space/Unit; Add'l Parking Avail; RV/Boat Parking; Free Owner Pays: Water; Landscaping Tenant Pays: Electric Source of Fincl Data: Provided by Owner; Other (See Remarks) Lockbox Type: See Private Remarks Existing 1st Loan: Treat as Free&Clear Existing 1st Ln Type: Not Applicable Existing 1st Ln Trms: Not Applicable Existing 2nd Loan: Treat as Free&Clear Existing 2nd Ln Type: Not Applicable Existing 2nd Ln Trms: Not Applicable Existing 3rd Loan: Treat as Free&Clear Existing 3rd Ln Type: Not Applicable Existing 3rd Ln Trms: Not Applicable Existing Othr Ln Trm: Not Applicable New Financing: Cash; Conventional Environmental: None

Listing Office: Better Homes & Gardens Real Estate SJ Fowler

Last Updated: March - 05 - 2025

1320-1312 W 5TH Street, Tempe, AZ 85281 (MLS# 6830355)