1217 W Southern Avenue Tempe, AZ ^$ 1,100,000

1217 W Southern Avenue

^$ 1,100,000

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1217 W Southern Avenue

Tempe, AZ, 85282

^$ 1,100,000

Studio Baths0.0

Monthly Estimate*

^$ 7,311

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Studio

Multi-Family Home for sale in Tempe, AZ

for $1,100,000. This home was built in 1970.

1217 W Southern Ave is a 4-unit multifamily community located in the West Tempe Submarket of Tempe, AZ. This asset is strategically positioned within close proximity to the ASU Tempe campus, and features 100% two-bedroom, 1 bathroom floorplans averaging approximately 750 sq. ft. The building underwent a significant renovation in 2017 and has a new roof along with on-site laundry and storage. Each unit features fully renovated interiors and a gated patio area, with a current average rent of $1,550/month. This is a unique opportunity to acquire a turn-key asset located in a highly desirable location. CONTACT AGENT FOR A COPY OF THE OM

Multi-Family Active

Price

^$ 1,100,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

^$ 2,533

Style

Multiple Dwellings

Year Built

1970

Town/City

Tempe

County/Region

Maricopa

MLS | Web ID

6707013

Features

General

Sewer Public Sewer

Heating Other See Remarks None

Cooling Electric

Roof Composition

Zoning M-M

Construction Materials Painted Block

Year Built 1970

Electric APS

Tenant Pays Electricity

Township 1N

Tax Year 2023

Percent Ownership Fee Simple

Gross Income 188506794.0

Community Features No Pool

County Maricopa

Net Operating Income 51087.0

Operating Expense 7781.0

Insurance Expense 1260.0

Property Type Multiple Dwellings

Attached Garage N

Subdivision Name WESTWAY PARK

Garage Y/N N

Status Active

City Tempe

Buyer Agent Compensation 2.50

Disclosures None

View Y/N N

High School District Tempe Union High School District

Open Parking Spaces 4.0

NumberOfUnitsTotal 4

Lot Size Square Feet 0.0

Carport Y/N N

Street Name Southern

Tax Annual Amount 2533.0

Electric Expense 659.0

Current Financing Not Applicable

Fuel Expense 0.0

Trash Expense 0.0

Water Sewer Expense 2079.0

Lease Renewal Y/N N

Additional Parcels Y/N N

Lease Considered Y/N N

Rent Control Y/N N

Days on Market 19

Standard Status Active

Elementary School District Tempe Elementary School District

Tax Lot 0

Cap Rate 4.64

Buyer Agent Compensation Type %

New_sp_Financing_co_Conventional5 True

Ownership Fee Simple

Senior Community N

Interior

Flooring Ceramic Tile

Air Conditioning Y/N Y

Heating Y/N N

Street Suffix Avenue

Electric On Property Y/N N

Total Baths 0

Exterior

Parking Features Common

Water Source City Franchise

Total Parking 8.0

Lot Size Area 0.0

Number of Buildings 1

Spa N

Lot Dimensions 9250

Lot Size Acres 0.0

Road Surface Type Gravel Dirt

Covered Spaces 4.0

Crops Included Y/N N

Open Parking Y/N N

Irrigation Water Rights Y/N N

Internal Only

Street Number 1 1217

* Excluded Features

List By

Matthews Real Estate Investment Services

Broker

brad.skenderian@matthews.com

Affordability Calculator

$7,522

Per Month

Monthly Principal & Interest: $7,311
Monthly Property Taxes: $211
Monthly Home Insurance: --

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Yearly Home Insurance

Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Multi-family listings in Tempe, AZ

Average List Price ^$1,033,706

Percent of Sale Price 6%

About Tempe, AZ

178,468 Population

13% Since 2002

^$52,533 Median Income

31.86 Median Age

19% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

4327087 Elementary School

4327661 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
5/17/2024	$1,100,000		Listed Price

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1217 W Southern Avenue, Tempe, AZ, 85282 is a Multi-Family Home for sale at $1,100,000. 1217 W Southern Avenue is a studio with 0.0 baths and was built in 1970. The property's zip code is 85282 which is in Tempe, AZ

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of the Arizona Regional Multiple Listing Service, Inc. Real Estate listings held by brokerage firms (licensees) other than Weichert Realtors are marked with the ARMLS logo and detailed information about them includes the name of the listing brokers.

All information should be verified by the recipient and none is guaranteed as accurate by ARMLS.

The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Data is updated as of 6/9/2024.

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1217 W Southern Avenue

Multi-Family Home for sale in Tempe, AZ

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