$365,000
SOLD MAR 30, 2018
-- Bed
-- Bath
2,576 Sq Ft
7,187 Sq Ft Lot

Recently Sold

$142 Per Sq Ft

8% Below List Price

45 Days on Market

Highlights

  • Cooling Available
  • 2-minute walk to Smith-Martin/Apache Blvd
  • Heating Available
  • Thew Elementary School Rated 9+
  • Ceramic Tile Flooring
  • 4-minute walk to Alegre Park

About This Home

As of October 2020

Cashflowing Fourplex for Sale right in the middle of Tempe. This fourplex is 100% occupied, conveniently located near Arizona State University (ASU) and walking distance to the Smith-Martin/Apache light rail stop. Coin Op laundry provides extra income. All four units are 2 bedrooms and 1 bathroom. All units renovated within last couple of years with tile and water heaters and air conditioning units. There are common laundry units to provide additional revenue, ask me how to expand that potential.. Currently, cash flowing well at a 6 CAP. Because all unit have tenants in place, please only drive by. No showings until accepted offer. Call me for details. Better hurry, this one is gonna go quick!

Last Agent to Sell the Property

Bryan McCoy

RE/MAX Alliance Group License #SA573514000 Listed on: 01/07/2018

RE/MAX Alliance Group

Last Buyer's Agent

Tarun Chopra

1st Dream Realty License #SA655749000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,360

Year Built

  • Built in 1963

Home Design

  • Brick Exterior Construction
  • Composition Roof

Flooring

  • Carpet
  • Ceramic Tile
  • Vinyl

Parking

  • 4 Open Parking Spaces
  • 4 Parking Spaces

Schools

  • Flora Thew Elementary School
  • Connolly Middle School
  • Mcclintock High School

Utilities

  • Cooling Available
  • Heating Available

Listing and Financial Details

  • Tenant pays for electricity, cable TV
  • The owner pays for water, sewer
  • Assessor Parcel Number 132-67-062-L

Community Details

Overview

  • 4 Units
  • Building Dimensions are 67 x 108
  • Coin Op Laundry Subdivision

Building Details

  • Operating Expense $9,688
  • Gross Income $32,612
  • Net Operating Income $25,612

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,360

Year Built

Built in 1963

Lot Details

0

Listing Details

  • Cross Street: 101 Freeway & Apache Blvd
  • Legal Info Range: 4E
  • Property Type: Multiple Dwellings
  • Zoning: MF
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1963
  • Tax Year: 2017
  • Directions: Head Wet on Apache Blvd, turn Right on Smith Road. Fourplex on the Right.
  • Road Surface Type: Asphalt
  • Subdivision Name: Coin Op Laundry
  • Tax Parcel Letter: L
  • Construction Brick: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Carpet, Ceramic Tile, Vinyl
  • Appliances: F/S Oven/Range, Washer/Dryer
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:WasherDryer: Yes
  • Appliances Included:Refrigerator2: Yes

Exterior Features

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

Garage/Parking

  • Parking Features: >1 Space Per Unit
  • 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:_greater_1 Space Per Unit: Yes

Utilities

  • Electric: SRP
  • Cooling: Electric
  • Heating: Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Exterior Amenities:Cable TV Available: Yes
  • Community Amenities:No Pool: Yes

Fee Information

  • Trash Expense: 300.0
  • Annual Water Sewer Expense: 1200.0

Schools

  • Elementary School: Flora Thew Elementary School
  • High School: McClintock High School
  • Junior High Dist: Tempe Union High School District
  • Middle Or Junior School: Connolly Middle School

Lot Info

  • Lot Size: 67 x 108
  • Additional Parcels: No
  • Parcel #: 132-67-062-L

Multi Family

  • Owner Pays: Water, Sewer
  • Tenant Pays: Electricity, Cable TV
  • Number Of Units Total: 4
  • Electric Expense: 936.0
  • Annual Gross Income: 32612.16
  • Insurance Expense: 1272.0
  • Maintenance Expense: 3300.0
  • Property Net Operating Income: 25612.0
  • Annual Operating Expense: 9688.0
  • Vacancy Allowance Rate: 0.08

Tax Info

  • Tax Annual Amount: 1360.0
  • Tax Book Number: 132.00
  • Tax Lot: 0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 15, 2020
Closed on
Oct 29, 2020
Sold by
Taylor Jamar A and Taylor Mackenzie
Bought by
Smith Rd Llc
Seller's Agent
Tarun Chopra
1st Dream Realty
Buyer's Agent
Non-MLS Agent
Non-MLS Office
List Price
$719,000
Sold Price
$705,000
Premium/Discount to List
-$14,000
-1.95%
Current Estimated Value
$922,864

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$217,864
Avg. Annual Appreciation
5.58%
Original Mortgage
$510,400
Interest Rate
2.9%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Listed on
Apr 15, 2020
Closed on
Oct 12, 2020
Sold by
1224 Smith Llc
Bought by
Taylor Jamar A and Taylor Mackenzie
Seller's Agent
Tarun Chopra
1st Dream Realty
Buyer's Agent
Non-MLS Agent
Non-MLS Office
List Price
$719,000
Sold Price
$705,000
Premium/Discount to List
-$14,000
-1.95%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$510,400
Interest Rate
2.9%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Listed on
Jan 7, 2018
Closed on
May 10, 2018
Sold by
Chopra Tarun
Bought by
1224 Smith Llc
Seller's Agent
Bryan McCoy
RE/MAX Alliance Group
Buyer's Agent
Tarun Chopra
1st Dream Realty
List Price
$395,000
Sold Price
$365,000
Premium/Discount to List
-$30,000
-7.59%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
29.45%
Original Mortgage
$275,625
Interest Rate
4.38%
Mortgage Type
New Conventional

Purchase Details

Listed on
Jan 7, 2018
Closed on
Mar 22, 2018
Sold by
Sinks Steven and Higbee Dale
Bought by
Chopra Tarun
Seller's Agent
Bryan McCoy
RE/MAX Alliance Group
Buyer's Agent
Tarun Chopra
1st Dream Realty
List Price
$395,000
Sold Price
$365,000
Premium/Discount to List
-$30,000
-7.59%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$275,625
Interest Rate
4.38%
Mortgage Type
New Conventional

Purchase Details

Listed on
Jul 8, 2016
Closed on
Aug 8, 2016
Sold by
Aflalo Samuel and Eitches David
Bought by
Angel 1111 Llc
Seller's Agent
Kelly Noble
Imperial Residential Holdings,LLC
Buyer's Agent
Bryan McCoy
RE/MAX Alliance Group
List Price
$299,000
Sold Price
$310,000
Premium/Discount to List
$11,000
3.68%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
10.61%
Original Mortgage
$213,750
Interest Rate
3.42%
Mortgage Type
New Conventional

Purchase Details

Listed on
Jul 8, 2016
Closed on
Aug 4, 2016
Sold by
Tonnu Trang and Higbee Dale
Bought by
Higbee Dale
Seller's Agent
Kelly Noble
Imperial Residential Holdings,LLC
Buyer's Agent
Bryan McCoy
RE/MAX Alliance Group
List Price
$299,000
Sold Price
$310,000
Premium/Discount to List
$11,000
3.68%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$213,750
Interest Rate
3.42%
Mortgage Type
New Conventional

Purchase Details

Closed on
Aug 5, 2013
Sold by
Nationstar Mortgage Ll
Bought by
Aflalo Samuel and Eitches David

Purchase Details

Closed on
Jun 11, 2013
Sold by
Arevalo Jorge and Arevalo Elva
Bought by
Nationstar Mortgae Llc

Purchase Details

Closed on
Jun 12, 2007
Sold by
Arevalo Elva and Luevanos Lilia
Bought by
Arevalo Jorge and Arevalo Elva

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$255,500
Interest Rate
8.12%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jan 12, 2004
Sold by
Arevalo Jorge
Bought by
Arevalo Elva

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$153,600
Interest Rate
6.12%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Mar 2, 2001
Sold by
Sieber Alfred
Bought by
Sieber Alfred and Sieber Family Trust

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$112,000
Interest Rate
6.98%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Feb 13, 2001
Sold by
Wesleyan Investments Inc
Bought by
Sieber Alfred

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$112,000
Interest Rate
6.98%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Feb 16, 1993
Sold by
Berry David A
Bought by
Wesleyan Investments Inc
Source: Public Records

Range of Values:

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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 Type Sale Price Title Company
Warranty Deed -- Accommodation
Warranty Deed $705,000 American Title Svc Agcy Llc
Warranty Deed -- Accommodation
Warranty Deed $367,500 Wfg National Title Insurance
Warranty Deed -- Empire West Title Agency
Interfamily Deed Transfer -- Empire West Title Agency
Warranty Deed $300,000 Empire West Title Agency
Quit Claim Deed $183,751 None Available
Trustee Deed $278,049 First American Title
Interfamily Deed Transfer -- Transcontinental Title Co
Interfamily Deed Transfer -- Capital Title Agency Inc
Warranty Deed $192,000 Capital Title Agency Inc
Interfamily Deed Transfer -- Transnation Title Insurance
Warranty Deed $140,000 Transnation Title Insurance
Quit Claim Deed -- --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $510,400 Purchase Money Mortgage
Previous Owner $275,625 New Conventional
Previous Owner $213,750 New Conventional
Previous Owner $255,500 New Conventional
Previous Owner $153,600 Purchase Money Mortgage
Previous Owner $112,000 Seller Take Back
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/14/2020 10/14/20 Sold $705,000 -1.9% $274 / Sq Ft
10/10/2020 10/10/20 For Sale $719,000 0.0% $279 / Sq Ft
10/10/2020 10/10/20 Price Changed $719,000 0.0% $279 / Sq Ft
09/29/2020 09/29/20 For Sale $719,000 0.0% $279 / Sq Ft
09/29/2020 09/29/20 Price Changed $719,000 0.0% $279 / Sq Ft
09/24/2020 09/24/20 For Sale $719,000 0.0% $279 / Sq Ft
09/24/2020 09/24/20 Price Changed $719,000 0.0% $279 / Sq Ft
09/17/2020 09/17/20 For Sale $719,000 0.0% $279 / Sq Ft
09/17/2020 09/17/20 Price Changed $719,000 0.0% $279 / Sq Ft
08/27/2020 08/27/20 For Sale $719,000 0.0% $279 / Sq Ft
08/27/2020 08/27/20 Price Changed $719,000 0.0% $279 / Sq Ft
04/29/2020 04/29/20 Price Changed $719,000 -0.4% $279 / Sq Ft
04/15/2020 04/15/20 For Sale $722,000 +97.8% $280 / Sq Ft
03/30/2018 03/30/18 Sold $365,000 -5.2% $142 / Sq Ft
02/21/2018 02/21/18 Pending -- -- --
02/13/2018 02/13/18 Price Changed $385,000 -2.5% $149 / Sq Ft
01/07/2018 01/07/18 For Sale $395,000 +27.4% $153 / Sq Ft
08/17/2016 08/17/16 Sold $310,000 +3.7% $120 / Sq Ft
07/18/2016 07/18/16 Pending -- -- --
07/08/2016 07/08/16 For Sale $299,000 -- $116 / 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 $1,583 $14,136 -- --
2024 $1,564 $13,463 -- --
2023 $1,564 $66,680 $13,330 $53,350
2022 $1,501 $46,300 $9,260 $37,040
2021 $1,511 $38,720 $7,740 $30,980
2020 $1,465 $33,760 $6,750 $27,010
2019 $1,437 $27,780 $5,550 $22,230
2018 $1,402 $26,250 $5,250 $21,000
2017 $1,360 $22,780 $4,550 $18,230
2016 $1,350 $21,270 $4,250 $17,020
2015 $1,297 $15,800 $3,160 $12,640
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5705725

Arizona Regional Multiple Listing Service (ARMLS)

APN: 132-67-062L