NOT LISTED FOR SALE

1217 S Farmer Ave Tempe, AZ 85281

Maple Ash Neighborhood
-- Bed
1 Bath
400 Sq Ft
0.25 Acres

Last Sold May 06, 2019

Last sale price $1,135,000 $2,838 Per Sq Ft

30 Days on Market

Highlights

  • Cooling System Mounted To A Wall/Window
  • Resident Manager or Management On Site
  • Floor Furnace

About This Home

As of May 2019

Farmer Apartments is a fully rented 7 units 3 blocks from ASU. These apartments all have been updated and super easy to rent. The duplex are both two bedroom one bath units. One bedroom one bath house in the back with common area seller owned coin operated laundry. The 4 plex features all studios. There is onsite storage for additional income. Rents are in process of being increased from rents not being raised in years. Super maintained property would also make a perfect short term rental as well or vacation rental. Owner is willing to trade into office space in zip codes 85281 or 85281. Please drive by only tenants are unaware of the sale.

Last Agent to Sell the Property

Sophia Baron

Grace CRE License #BR648866000 Listed on: 03/30/2019

Co-Listed By

Joshua Willets

Grace CRE License #BR675965000

Last Buyer's Agent

Michael D'Elena

Compass License #SA644866000

Compass

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,019

Year Built

  • Built in 1961

Lot Details

  • Additional Parcels

Home Design

  • Brick Exterior Construction
  • Composition Roof
  • Block Exterior

Parking

  • 12 Open Parking Spaces
  • 12 Parking Spaces

Schools

  • Tempe High Middle School
  • Tempe Academy Of International Studies Mckemy High School

Utilities

  • Cooling System Mounted To A Wall/Window
  • Floor Furnace
  • Heating System Uses Natural Gas
  • Heat Pump System
  • Wall Furnace
  • Master Water Meter

Listing and Financial Details

  • Tenant pays for cable TV
  • The owner pays for trash collection, water, sewer, landscaping
  • Tax Lot 6/5
  • Assessor Parcel Number 124-70-019

Community Details

Overview

  • 3 Buildings
  • 7 Units
  • Building Dimensions are IRR

Building Details

  • Operating Expense $16,259
  • Gross Income $82,625
  • Net Operating Income $68,300

Security

  • Resident Manager or Management On Site

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,019

Year Built

Built in 1961

Lot Details

0

Listing Details

  • Cross Street: US-60 and MILL AVE.
  • Legal Info Range: 4E
  • Property Type: Multiple Dwellings
  • Zoning: R-3
  • Number Of Buildings: 3
  • Year Built: 1961
  • Tax Year: 2648
  • Road Surface Type: Asphalt, Curb(s) & Gutter(s)
  • Co List Office Mls Id: inls01
  • Co List Office Phone: 619-892-5170
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances Included:Refrigerator: Yes
  • Appliances Included:Dishwasher: Yes
  • Appliances Included:Disposal: Yes
  • Appliances Included:WasherDryer: Yes
  • Appliances Included:BI OvenRange: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Brick Veneer, Block
  • Roof: Composition
  • Construction:Block: Yes

Garage/Parking

  • Open Parking Spaces: 12.0
  • Total Parking Spaces: 12.0
  • General Property Description:Uncvrd Parking Spcs: 12.0
  • General Property Description:Total Parking Spcs: 12.0
  • Parking:Free: Yes
  • Parking:_greater_1 Space Per Unit: Yes
  • Parking:Paved Parking: Yes

Utilities

  • Electric: APS, Individual Meter
  • Cooling: Electric, Wall/Window Unit(s)
  • Heating: Heat Pump, Natural Gas, Floor Furnace, Wall Furnace
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise, Master Meter
  • Heating:Natural Gas: Yes
  • Heating:Heat Pump2: Yes
  • Heating:Wall Furnace: Yes

Condo/Co-op/Association

  • Community Features: Manager Res/Office, No Pool

Association/Amenities

  • Exterior Amenities:Landscape Wtr System: Yes
  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Interior Amenities:Mini Blinds: Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Partially Fenced: Yes
  • Exterior Amenities:Desert Landscaping: Yes
  • Exterior Amenities:Separate Storage: Yes
  • Community Amenities:Manager ResOffice: Yes
  • Exterior Amenities:Satellite Dish: Yes
  • Interior Amenities:Furnished: Yes
  • Exterior Amenities:Pet Restrictions: Yes
  • Interior Amenities:Water Softener(s): Yes

Fee Information

  • Annual Fuel Expense: 256.0
  • Trash Expense: 1200.0
  • Annual Water Sewer Expense: 1578.0

Schools

  • High School: Tempe Academy Of International Studies McKemy
  • Middle Or Junior School: Tempe High School

Lot Info

  • Lot Size: IRR
  • Additional Parcels: Yes
  • Parcel #: 124-70-019

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Tenant Pays: Cable TV
  • Number Of Units Total: 7
  • Electric Expense: 1008.0
  • Annual Gross Income: 82625.4
  • Insurance Expense: 1600.0
  • Maintenance Expense: 4500.0
  • Property Net Operating Income: 68300.0
  • Annual Operating Expense: 16259.0
  • Vacancy Allowance Rate: 0.01

Tax Info

  • Tax Annual Amount: 2019.0
  • Tax Book Number: 124.00
  • Tax Lot: 6/5

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
05/06/2019 05/06/19 Sold $1,135,000 -1.3% $2,838 / Sq Ft
04/18/2019 04/18/19 Price Changed $1,150,000 -4.1% $2,875 / Sq Ft
03/22/2019 03/22/19 For Sale $1,199,000 0.0% $2,998 / Sq Ft
03/01/2019 03/01/19 Rented $795 0.0% --
02/20/2019 02/20/19 For Rent $795 -- --
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 2019

    Sophia Baron

    Grace CRE

    (480) 375-0227

    88 Total Sales

    Section Image
  • Joshua Willets

    Seller Co-Listing Agent in 2019

    Joshua Willets

    Grace CRE

    (561) 473-4477

    34 Total Sales

    Section Image
  • Michael D'Elena

    Buyer's Agent in 2019

    Michael D'Elena

    Compass

    (602) 317-4761

    218 Total Sales

    Section Image

  • J

    Buyer's Agent in 2019

    Jason Carthen

    Grace CRE

    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5903711

Arizona Regional Multiple Listing Service (ARMLS)

Arizona Maricopa County Tempe 85281 Maple Ash

1217 S Farmer Ave, Tempe, AZ

This home is located at 1217 S Farmer Ave, Tempe, AZ 85281 since 30 March 2019. This property was built in 1961. 1217 S Farmer Ave is a home located in Maricopa County with nearby schools including Geneva Epps Mosley Middle School, Tempe High School, and New School for the Arts & Academics.

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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