NOT LISTED FOR SALE

1211 W University Dr Tempe, AZ 85281

Gililland Neighborhood
11 Beds
6 Baths
1,283 Sq Ft
1971 Built

Last Sold February 28, 2020

Last sale price $1,070,600 $834 Per Sq Ft

63 Days on Market

Highlights

  • Cooling System Mounted To A Wall/Window
  • Vinyl Flooring
  • Heat Pump System
  • Ceiling Fan

About This Home

As of February 2020

Solid Cash Flow Tempe Apartment Building Generating $63,235 NOI - Ready for new owner. (Great 1031 Placement Option) Located within a mile of ASU, Mill Ave and Tempe Town Area. 4,405 sq ft of living space across 5 units.

Wholefoods just opened and area is bustling with new retail and development.

Property has consistently performed well and had major renovation in 2017. There is still room for ''value-add'' here to further increase rents to market – to increase cash flow and market value in this high growth area of Tempe.

First floor has a large 3bd/2bth apartment and a 2br/1bth apartment (cost per unit is not a viable measurement here).

Second floor, surrounding the sundeck are three 2bd/1bth apartments that are fully remodeled and work well for the property.

Last Agent to Sell the Property

Michael Vallee

Real Broker License #SA662806000 Listed on: 11/08/2019

Real Broker

Last Buyer's Agent

Kathy Camamo

Amazing AZ Homes License #BR539745000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,959

Year Built

  • Built in 1971

Lot Details

  • Property fronts an alley

Home Design

  • Wood Frame Construction
  • Composition Roof
  • Stucco

Interior Spaces

  • Ceiling Fan
  • Vinyl Flooring

Parking

  • 8 Open Parking Spaces
  • 14 Parking Spaces
  • 6 Covered Spaces
  • Common or Shared Parking

Utilities

  • Cooling System Mounted To A Wall/Window
  • Heat Pump System
  • Individual Controls for Heating

Listing and Financial Details

  • Tenant pays for trash collection, electricity, water, sewer
  • The owner pays for trash collection, water, sewer, landscaping
  • Tax Lot 6
  • Assessor Parcel Number 124-74-006-C

Community Details

Overview

  • 5 Units
  • Building Dimensions are 74 x 104
  • Westgate Sub Subdivision

Building Details

  • Operating Expense $8,441
  • Gross Income $72,994
  • Net Operating Income $63,235

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,959

Year Built

Built in 1971

Lot Details

0

Listing Details

  • Cross Street: University Dr. & Beck
  • Legal Info Range: 4E
  • Property Type: Multiple Dwellings
  • Zoning: R-3
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1971
  • Tax Year: 2019
  • Road Frontage Type: Alley
  • Road Surface Type: Dedicated Street, Sidewalk(s)
  • Professional Management Expense: 600.0
  • Subdivision Name: WESTGATE SUB
  • Garage Yn: Yes
  • Tax Parcel Letter: C
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Vinyl
  • Appliances: F/S Oven/Range, Microwave, Washer/Dryer
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Microwave2: Yes
  • Appliances Included:WasherDryer: Yes
  • Appliances Included:Refrigerator2: Yes
  • Appliances Included:Dishwasher2: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Painted, Stucco, Frame - Wood, Slump Block
  • Roof: Composition
  • Construction:Frame - Wood: Yes
  • Construction:Slump Block: Yes

Garage/Parking

  • Total Covered Spaces: 6.0
  • Parking Features: Other (See Remarks), Add'l Parking Avail, >1 Space Per Unit, Common
  • Attached Garage: No
  • Open Parking Spaces: 8.0
  • Total Parking Spaces: 14.0
  • General Property Description:Covered Parking Spcs: 6.0
  • General Property Description:Uncvrd Parking Spcs: 8.0
  • General Property Description:Total Parking Spcs: 14.0
  • Garage Details: Yes
  • Parking:Carport: Yes
  • Parking:_greater_1 Space Per Unit: Yes
  • Parking:Add_squote_l Parking Avail: Yes
  • Parking:Other (See Remarks)24: Yes

Utilities

  • Electric: SRP, Individual Meter
  • Cooling: Ceiling Fan(s), Window/Wall Unit, Electric, Heat Pump
  • Heating: Individual, Heat Pump, Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise, Individual Meter
  • Heating:Electric: Yes
  • Heating:Individual: Yes
  • Heating:Heat Pump2: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Exterior Amenities:Fenced3: Yes
  • Exterior Amenities:Cable TV Available: Yes
  • Exterior Amenities:PatioBalcony: Yes
  • Exterior Amenities:Security Light(s)3: Yes
  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Interior Amenities:Mini Blinds: Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Desert Landscaping: Yes
  • Exterior Amenities:Separate Storage: Yes
  • Interior Amenities:Unfurnished: Yes
  • Interior Amenities:Vertical Blinds2: Yes
  • Interior Amenities:Drapes2: Yes

Fee Information

  • Annual Water Sewer Expense: 1680.0

Lot Info

  • Lot Size: 74 x 104
  • Additional Parcels: No
  • Parcel #: 124-74-006-C

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Tenant Pays: Trash Collection, Electricity, Water, Sewer
  • Number Of Units Total: 5
  • Annual Gross Income: 72993.69
  • Insurance Expense: 1527.0
  • Maintenance Expense: 1075.0
  • Property Net Operating Income: 63235.0
  • Annual Operating Expense: 8441.4
  • Vacancy Allowance Rate: 0.01

Tax Info

  • Tax Annual Amount: 2959.4
  • Tax Book Number: 124.00
  • Tax Lot: 6

Range of Values:

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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 Change Sq Ft Price
02/28/2020 02/28/20 Sold $1,070,600 -6.9% $834 / Sq Ft
01/10/2020 01/10/20 Pending -- -- --
12/26/2019 12/26/19 For Sale $1,149,727 0.0% $896 / Sq Ft
12/20/2019 12/20/19 Pending -- -- --
11/08/2019 11/08/19 For Sale $1,149,727 +81.1% $896 / Sq Ft
08/01/2017 08/01/17 Sold $635,000 -4.4% $495 / Sq Ft
06/29/2017 06/29/17 Pending -- -- --
05/25/2017 05/25/17 For Sale $664,000 0.0% $518 / Sq Ft
05/17/2017 05/17/17 Pending -- -- --
04/09/2017 04/09/17 Price Changed $664,000 -1.5% $518 / Sq Ft
02/09/2017 02/09/17 For Sale $674,000 -- $525 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Michael Vallee

    Seller's Agent in 2020

    Michael Vallee

    Real Broker

    (602) 687-7803

    29 Total Sales

    Michael Vallee
    Section Image
  • Kathy Camamo

    Buyer's Agent in 2020

    Kathy Camamo

    Amazing AZ Homes

    (602) 614-3842

    161 Total Sales

    Kathy Camamo
    Section Image
  • Julie Rickli

    Seller's Agent in 2017

    Julie Rickli

    Better Homes & Gardens Real Estate SJ Fowler

    (602) 620-4263

    114 Total Sales

    Julie Rickli
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6002855

Arizona Regional Multiple Listing Service (ARMLS)

Arizona Maricopa County Tempe 85281 Gililland

1211 W University Dr, Tempe, AZ

This home is located at 1211 W University Dr, Tempe, AZ 85281 since 08 November 2019. This property was built in 1971. 1211 W University Dr is a home located in Maricopa County with nearby schools including Geneva Epps Mosley Middle School, Tempe High School, and Phoenix International Academy.

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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