NOT LISTED FOR SALE

1150 E Orange St Tempe, AZ 85281

Downtown Tempe Neighborhood
1 Bed
1 Bath
615 Sq Ft
0.28 Acres

Last Sold May 12, 2021

Last sale price $1,855,000 $3,016 Per Sq Ft

125 Days on Market

Highlights

  • Wood Flooring
  • Community Barbecue Grill
  • Heating Available
  • Cooling Available

About This Home

As of May 2021

Welcome to Seven on Orange Townhomes in the heart of Tempe. This property features a total of six large one bedroom one bath townhomes and one 2 bedroom one bath townhome. Property has a newer roof and central air conditioners. Current seller is replacing the main sewer lines to the main, repaving parking lot, new paint, adding separate yards to all the units with new fencing within the next 30 days. Three of the units have been updated and four are in original condition. Current on site laundry is leased but not on a current lease. All tenants have been given notice of 30 days to start raising the current rental rates. Rents were way below market at 700-850. Proforma rents once value add in place 1,150-1,250 for the ones and two bedroom 1,350-1,450. All facts and figures are approximate buyer to verify MLS information

Last Agent to Sell the Property

Sophia Baron

Grace CRE License #BR648866000 Listed on: 12/02/2020

Co-Listed By

Joshua Willets

Grace CRE License #BR675965000

Last Buyer's Agent

Traci Randolph

My Home Group Real Estate License #SA572606000

My Home Group Real Estate

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,883

Year Built

  • Built in 1962

Lot Details

  • 0.28

Home Design

  • Brick Exterior Construction
  • Wood Frame Construction
  • Built-Up Roof
  • Block Exterior
  • Stucco

Flooring

  • Wood
  • Carpet
  • Concrete
  • Ceramic Tile
  • Vinyl

Parking

  • 6 Open Parking Spaces
  • 14 Parking Spaces
  • 8 Covered Spaces
  • Common or Shared Parking
  • Free Parking
  • Paved Parking
  • On-Street Parking

Utilities

  • Cooling Available
  • Heating Available

Listing and Financial Details

  • Tenant pays for electricity, water, cable TV
  • The owner pays for gas, electricity, trash collection, water, sewer, landscaping
  • Tax Lot 1
  • Assessor Parcel Number 132-73-063-B

Community Details

Overview

  • 7 Units
  • Building Dimensions are IRR

Amenities

  • Community Barbecue Grill

Building Details

  • Operating Expense $24,983
  • Gross Income $98,990
  • Net Operating Income $74,057

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,883

Year Built

Built in 1962

Lot Details

0

Listing Details

  • Cross Street: University and Rural
  • Legal Info Range: 4E
  • Property Type: Multiple Dwellings
  • Zoning: R-4
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1962
  • Tax Year: 2020
  • Road Surface Type: Asphalt, Dedicated Street, Concrete, Curb(s) & Gutter(s), Sidewalk(s), Alley
  • Professional Management Expense: 5500.0
  • Co List Office Mls Id: grcr001
  • Co List Office Phone: 602-758-9981
  • Tax Parcel Letter: B
  • Construction Brick: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Carpet, Ceramic Tile, Vinyl, Wood, Concrete
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Microwave2: Yes
  • Appliances Included:WD Hookup: Yes
  • Appliances Included:BI OvenRange: Yes
  • Appliances Included:Refrigerator2: Yes
  • Appliances Included:Dishwasher2: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Brick Veneer, Painted, Stucco, Block, Brick, Frame - Wood
  • Roof: Built-Up
  • Construction:Frame - Wood: Yes
  • Construction:Block: Yes

Garage/Parking

  • Total Covered Spaces: 8.0
  • Parking Features: Paved Parking, Free, 1 Space/Unit, <1 Space Per Unit, Street Parking, Common
  • Attached Garage: No
  • Open Parking Spaces: 6.0
  • Total Parking Spaces: 14.0
  • General Property Description:Covered Parking Spcs: 8.0
  • General Property Description:Uncvrd Parking Spcs: 6.0
  • General Property Description:Total Parking Spcs: 14.0
  • Parking:Carport: Yes
  • Parking:Free: Yes
  • Parking:Street Parking: Yes
  • Parking:Paved Parking: Yes
  • Parking:_one_ SpaceUnit: Yes
  • Parking:_less_1 Space Per Unit: Yes

Utilities

  • Electric: APS
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise, Private Franchise
  • Heating:Natural Gas: Yes
  • Heating:Electric: Yes
  • Heating:Individual: Yes

Condo/Co-op/Association

  • Community Features: Barbecue, No Pool

Association/Amenities

  • Exterior Amenities:Landscape Wtr System: Yes
  • Exterior Amenities:Green Landscaping: Yes
  • 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
  • Interior Amenities:Unfurnished: Yes
  • Community Amenities:Barbecue: Yes

Fee Information

  • Annual Fuel Expense: 900.0
  • Trash Expense: 1200.0
  • Annual Water Sewer Expense: 3500.0

Lot Info

  • Lot Size: IRR
  • Additional Parcels: No
  • Parcel #: 132-73-063-B

Multi Family

  • Owner Pays: Other, Gas, Electricity, Trash Collection, Water, Sewer, Landscaping
  • Tenant Pays: Electricity, Water, Cable TV
  • Number Of Units Total: 7
  • Electric Expense: 1000.0
  • Annual Gross Income: 98990.0
  • Insurance Expense: 2500.0
  • Maintenance Expense: 4500.0
  • Property Net Operating Income: 74057.0
  • Annual Operating Expense: 24983.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 4883.0
  • Tax Book Number: 132.00
  • Tax Lot: 1

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
05/12/2021 05/12/21 Sold $1,855,000 0.0% $3,016 / Sq Ft
04/06/2021 04/06/21 Pending -- -- --
04/06/2021 04/06/21 Price Changed $1,855,000 0.0% $3,016 / Sq Ft
12/29/2020 12/29/20 Off Market $1,855,000 -- --
12/02/2020 12/02/20 For Sale $1,435,000 +20.6% $2,333 / Sq Ft
11/20/2020 11/20/20 Sold $1,190,000 0.0% $1,935 / Sq Ft View Prior Sale
09/20/2020 09/20/20 Pending -- -- --
09/19/2020 09/19/20 For Sale $1,190,000 +221.6% $1,935 / Sq Ft
05/31/2013 05/31/13 Sold $370,000 -12.9% $602 / Sq Ft View Prior Sale
05/09/2013 05/09/13 Pending -- -- --
11/15/2012 11/15/12 For Sale $425,000 -- $691 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Sophia Baron

    Seller's Agent in 2021

    Sophia Baron

    Grace CRE

    (480) 375-0227

    6 in this area

    77 Total Sales

    Sophia Baron
    Section Image
  • Joshua Willets

    Seller Co-Listing Agent in 2021

    Joshua Willets

    Grace CRE

    (561) 473-4477

    3 in this area

    26 Total Sales

    Joshua Willets
    Section Image
  • Traci Randolph

    Buyer's Agent in 2021

    Traci Randolph

    My Home Group

    (480) 440-7485

    1 in this area

    33 Total Sales

    Traci Randolph
    Section Image

  • J

    Seller's Agent in 2020

    Jack Cardon

    Cardon Commercial

    (480) 278-9007

    2 Total Sales

    Jack Cardon
    Section Image
  • Phillip Shaver

    Seller's Agent in 2013

    Phillip Shaver

    HomeSmart

    (480) 510-9628

    1 in this area

    247 Total Sales

    Phillip Shaver
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6166813

Arizona Regional Multiple Listing Service (ARMLS)
Arizona Maricopa County Tempe 85281 Downtown Tempe

1150 E Orange St, Tempe, AZ

Not Listed for Sale

MultiFamily

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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