NOT LISTED FOR SALE

1039 E Spence Ave Tempe, AZ 85281

Downtown Tempe Neighborhood

Estimated Value: $783,000 - $1,376,000

-- Bed
-- Bath
2,958 Sq Ft
$383/Sq Ft Est. Value

Last Sold November 17, 2020

Last sale price $830,000 $281 Per Sq Ft

Est. 37% increase in value since last sale

Current estimated payment $6,536/month

3 Days on Market

Highlights

  • Cooling Available
  • Concrete Flooring
  • Individual Controls for Heating

About This Home

As of November 2020

Introducing 4 on Spence. Updated and Remodeled Tempe 4 Plex. Walk to ASU. Super Tempe Location, Near Light Rail, Tempe Marketplace, Shopping, Restaurants & Freeways. Major Capital Improvements, Kitchens, Granite Countertops, Washers & Dryers. Newer Water heaters, Newer Parking Lot, Newer Roof, 100% Leased, Super Cash Flow. All Facts and Figures Approximate, Buyers to Verify to Their Satisfaction.

Last Agent to Sell the Property

Steve Fowler

Better Homes & Gardens Real Estate SJ Fowler License #BR012851000 Listed on: 10/30/2020

Better Homes & Gardens Real Estate SJ Fowler

Co-Listed By

Steven Cvetanovich

Better Homes & Gardens Real Estate SJ Fowler License #BR646588000

Last Buyer's Agent

Michael Gordon

Grace CRE License #BR688636000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,168

Year Built

  • Built in 1964

Lot Details

  • 8,494

Home Design

  • Composition Roof
  • Block Exterior

Flooring

  • Concrete Flooring

Parking

  • 4 Open Parking Spaces
  • 4 Parking Spaces
  • Assigned Parking

Utilities

  • Cooling Available
  • Individual Controls for Heating
  • Master Water Meter

Listing and Financial Details

  • Tenant pays for cable TV
  • The owner pays for trash collection, water, sewer
  • Tax Lot 28
  • Assessor Parcel Number 133-10-048

Community Details

Overview

  • 4 Units
  • Building Dimensions are 8,500
  • Jen Tilly Terrace Lots 19 29 /Tr A/ Subdivision

Building Details

  • Operating Expense $13,393
  • Gross Income $66,600
  • Net Operating Income $53,300

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,168

Year Built

Built in 1964

Lot Details

0

Listing Details

  • Cross Street: Rural Rd & Spence
  • Legal Info Range: 4E
  • Property Type: Multiple Dwellings
  • Zoning: R-4
  • Number Of Buildings: 1
  • Year Built: 1964
  • Tax Year: 2020
  • Directions: East on Spence to Property
  • Road Surface Type: Asphalt
  • Co List Office Mls Id: sjfl01
  • Co List Office Phone: 480-649-3536
  • Subdivision Name: JEN TILLY TERRACE LOTS 19-29 /TR A/
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Concrete
  • Appliances Included:Refrigerator: Yes
  • Appliances Included:BI OvenRange: Yes

Exterior Features

  • Disclosures: Seller Prop Disc Stm
  • Construction Type: Painted, Block
  • Roof: Composition
  • Construction:Block: Yes

Garage/Parking

  • Parking Features: Assigned
  • Attached Garage: No
  • Open Parking Spaces: 4.0
  • Total Parking Spaces: 4.0
  • General Property Description:Uncvrd Parking Spcs: 4.0
  • General Property Description:Total Parking Spcs: 4.0
  • Parking:Free: Yes
  • Parking:Street Parking: Yes
  • Parking:Add_squote_l Parking Avail: Yes
  • Parking:_one_ SpaceUnit: Yes

Utilities

  • Electric: APS
  • Cooling: Individual, Electric
  • Heating: Individual, Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise, Master Meter
  • Heating:Electric: Yes
  • Heating:Individual: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Exterior Amenities:Cable TV Available: Yes
  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Partially Fenced: Yes
  • Exterior Amenities:Desert Landscaping: Yes
  • Exterior Amenities:Separate Storage: Yes
  • Interior Amenities:Unfurnished: Yes

Fee Information

  • Trash Expense: 1000.0
  • Annual Water Sewer Expense: 2000.0

Lot Info

  • Lot Size: 8,500
  • Additional Parcels: No
  • Parcel #: 133-10-048

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer
  • Tenant Pays: Cable TV
  • Number Of Units Total: 4
  • Annual Gross Income: 66600.0
  • Insurance Expense: 1400.0
  • Maintenance Expense: 2650.0
  • Property Net Operating Income: 53300.0
  • Annual Operating Expense: 13393.0

Tax Info

  • Tax Annual Amount: 2168.0
  • Tax Book Number: 133.00
  • Tax Lot: 28

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 30, 2020
Closed on
Nov 15, 2020
Sold by
Sparks Sharon Danay
Bought by
Melexa Properties Llc
Seller's Agent
Steve Fowler
Better Homes & Gardens Real Estate SJ Fowler
Buyer's Agent
Michael Gordon
Grace CRE
List Price
$825,000
Sold Price
$830,000
Premium/Discount to List
$5,000
0.61%
Total Days on Market
3
Current Estimated Value
$1,133,911

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$303,911
Avg. Annual Appreciation
7.08%

Purchase Details

Listed on
May 17, 2019
Closed on
Jul 9, 2019
Sold by
Pro Active Investments Llc
Bought by
Sparks Sharon Danay
Seller's Agent
Sophia Baron
Grace CRE
Buyer's Agent
Sophia Baron
Grace CRE
List Price
$729,900
Sold Price
$714,000
Premium/Discount to List
-$15,900
-2.18%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
11.89%
Original Mortgage
$489,900
Interest Rate
3.82%
Mortgage Type
New Conventional

Purchase Details

Listed on
Sep 21, 2018
Closed on
Dec 6, 2018
Sold by
Wilt Glenn A
Bought by
Pro Active Investments Llc
Seller's Agent
Steve Fowler
Better Homes & Gardens Real Estate SJ Fowler
Buyer's Agent
Sophia Baron
Grace CRE
List Price
$450,000
Sold Price
$400,000
Premium/Discount to List
-$50,000
-11.11%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
198.39%
Original Mortgage
$262,200
Interest Rate
4.8%
Mortgage Type
Construction
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Melexa Properties Llc $830,000 Chicago Title Agency
Sparks Sharon Danay $715,000 Chicago Title Agency
Pro Active Investments Llc $400,000 Chicago Title Agency Inc
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Sparks Sharon Danay $489,900
Previous Owner Pro Active Investments Llc $262,200
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
11/17/2020 11/17/20 Sold $830,000 +0.6% $281 / Sq Ft
10/30/2020 10/30/20 For Sale $825,000 +15.5% $279 / Sq Ft
07/17/2019 07/17/19 Sold $714,000 -2.2% $241 / Sq Ft
07/14/2019 07/14/19 Price Changed $729,900 0.0% $247 / Sq Ft
06/18/2019 06/18/19 Pending -- -- --
05/16/2019 05/16/19 For Sale $729,900 +82.5% $247 / Sq Ft
01/04/2019 01/04/19 Sold $400,000 -11.1% $135 / Sq Ft
11/30/2018 11/30/18 Pending -- -- --
11/30/2018 11/30/18 For Sale $450,000 +12.5% $152 / Sq Ft
10/08/2018 10/08/18 Off Market $400,000 -- --
09/25/2018 09/25/18 Pending -- -- --
09/21/2018 09/21/18 For Sale $450,000 -- $152 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $2,344 $20,921 -- --
2024 $2,315 $19,925 -- --
2023 $2,315 $69,900 $13,980 $55,920
2022 $2,221 $54,300 $10,860 $43,440
2021 $2,236 $44,320 $8,860 $35,460
2020 $2,168 $39,080 $7,810 $31,270
2019 $2,127 $33,330 $6,660 $26,670
2018 $2,075 $27,500 $5,500 $22,000
2017 $2,013 $23,270 $4,650 $18,620
2016 $1,998 $21,420 $4,280 $17,140
2015 $1,920 $21,700 $4,340 $17,360
Source: Public Records

Agents Affiliated with this Home

  • Steve Fowler

    Seller's Agent in 2020

    Steve Fowler

    Better Homes & Gardens Real Estate SJ Fowler

    (602) 430-5843

    1 in this area

    67 Total Sales

    Steve Fowler
    Section Image
  • Steven Cvetanovich

    Seller Co-Listing Agent in 2020

    Steven Cvetanovich

    Better Homes & Gardens Real Estate SJ Fowler

    (480) 323-5672

    1 in this area

    42 Total Sales

    Steven Cvetanovich
    Section Image
  • Michael Gordon

    Buyer's Agent in 2020

    Michael Gordon

    Grace CRE

    (858) 774-6058

    2 in this area

    73 Total Sales

    Michael Gordon
    Section Image
  • Sophia Baron

    Seller's Agent in 2019

    Sophia Baron

    Grace CRE

    (480) 375-0227

    4 in this area

    98 Total Sales

    Sophia Baron
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6153912

Arizona Regional Multiple Listing Service (ARMLS)

APN: 133-10-048

Arizona Maricopa County Tempe 85281 Downtown Tempe

1039 E Spence Ave, Tempe, AZ

This home is located at 1039 E Spence Ave, Tempe, AZ 85281 since 30 October 2020 and is currently estimated at $1,133,911, approximately $383 per square foot. This property was built in 1964. 1039 E Spence Ave is a home located in Maricopa County with nearby schools including Curry Elementary School, Connolly Middle School, and McClintock High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Arizona Regional Multiple Listing Service (ARMLS) All information should be verified by the recipient and none is guaranteed as accurate by ARMLS

Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393

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