NOT LISTED FOR SALE

1226 E Spence Ave Tempe, AZ 85281

Downtown Tempe Neighborhood
-- Bed
-- Bath
2,304 Sq Ft
1958 Built

Last Sold February 21, 2019

Last sale price $1,575,000 $684 Per Sq Ft

63 Days on Market

Highlights

  • Cooling Available
  • Ceramic Tile Flooring
  • Heating System Uses Natural Gas
  • Community Barbecue Grill
  • Ceiling Fan

About This Home

As of February 2019

INVESTORS, DEVELOPERS, 1031 EXCHANGE - PRIME TEMPE LOCATION! A Unique 13-Unit Garden Apartment community committed to sustainable practices and cooperative living with fellow ASU graduate students. The 1st NAHB Green Certified Apt Project in the USA. The site is zoned R-4 and within the City of Tempe Transit Oriented Development corridor allowing for additional density; 16 units upon redevelopment.
All leases have been renewed at current market rates and expire 7/31/2019.
3 buildings - APN 133-09-007A, 133-09-008A, 133-09-009.

Last Agent to Sell the Property

Steven Skarphol

HomeSmart License #BR019829000 Listed on: 08/20/2018

HomeSmart

Last Buyer's Agent

Pat Hune

1st Southwest Realty, LLC License #BR529524000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,815

Year Built

  • Built in 1958

Home Design

  • Composition Roof
  • Built-Up Roof
  • Block Exterior

Flooring

  • Concrete
  • Ceramic Tile

Parking

  • 10 Open Parking Spaces
  • 22 Parking Spaces
  • Carport
  • Over 1 Space Per Unit
  • Free Parking
  • Paved Parking

Schools

  • Joseph P. Spracale Elementary School
  • Connolly Middle School
  • Mcclintock High School

Utilities

  • Cooling Available
  • Heating System Uses Natural Gas
  • Heat Pump System
  • Master Water Meter

Additional Features

  • Ceiling Fan
  • Additional Parcels

Listing and Financial Details

  • The owner pays for gas, trash collection, water, sewer, landscaping
  • Tax Lot 7,8,9
  • Assessor Parcel Number 133-09-007-A

Community Details

Overview

  • 3 Buildings
  • 13 Units
  • Building Dimensions are 153 x 189 approx.
  • Attebery Tract Subdivision

Amenities

  • Community Barbecue Grill

Building Details

  • Operating Expense $39,961
  • Gross Income $141,711
  • Net Operating Income $102,567

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,815

Year Built

Built in 1958

Lot Details

0

Listing Details

  • Cross Street: Rural Road & Apache Blvd.
  • Legal Info Range: 4E
  • Property Type: Multiple Dwellings
  • Zoning: R-4/TODcorridor
  • Number Of Buildings: 3
  • Ownership: Fee Simple
  • Year Built: 1958
  • Tax Year: 2017
  • Road Surface Type: Asphalt
  • Professional Management Expense: 11687.0
  • Subdivision Name: ATTEBERY TRACT
  • Tax Parcel Letter: A
  • Cooling:Ceiling Fan(s): Yes
  • Roofing:Composition: Yes
  • Water Source City Franchise2: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Ceramic Tile, Concrete
  • Appliances: Free-Standing Range, Disposal, Refrigerator
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator2: Yes
  • Appliances Included:Disposal2: Yes
  • Community Features:Barbecue: Yes

Exterior Features

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

Garage/Parking

  • Total Covered Spaces: 12.0
  • Parking Features: Paved, Free, Add'l Parking Avail, >1 Space Per Unit, Carport
  • Attached Garage: No
  • Open Parking Spaces: 10.0
  • Total Parking Spaces: 22.0
  • General Property Description:Covered Parking Spcs: 12.0
  • General Property Description:Uncvrd Parking Spcs: 10.0
  • General Property Description:Total Parking Spcs: 22.0
  • Parking Features:Carport: Yes
  • Parking Features Free2: Yes
  • Parking Features >1 Space Per Unit: Yes
  • Parking Features:Paved2: Yes

Utilities

  • Electric: SRP, City Electric, Individual Meter
  • Cooling: Ceiling Fan(s), Heat Pump, Individual
  • Heating: Heat Pump, Natural Gas
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: Master Meter, City Franchise
  • Heating:Natural Gas: Yes
  • Heating:Heat Pump2: 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:Fenced3: Yes
  • Exterior Amenities:Cable TV Available: Yes
  • Exterior Amenities:PatioBalcony: Yes
  • Interior Amenities:Mini Blinds: Yes
  • Exterior Amenities:Desert Landscaping: Yes
  • Interior Amenities:Unfurnished: Yes

Fee Information

  • Annual Fuel Expense: 1285.0
  • Annual Water Sewer Expense: 4822.0

Schools

  • Elementary School: Joseph P. Spracale 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: 153 x 189 approx.
  • Additional Parcels: Yes
  • Parcel #: 133-09-007-A

Multi Family

  • Owner Pays: Gas, Trash Collection, Water, Sewer, Landscaping
  • Number Of Units Total: 13
  • Electric Expense: 1986.0
  • Annual Gross Income: 141711.18
  • Insurance Expense: 2166.0
  • Maintenance Expense: 2400.0
  • Property Net Operating Income: 102567.0
  • Annual Operating Expense: 39961.0
  • Vacancy Allowance Rate: 0.03

Tax Info

  • Tax Annual Amount: 5815.0
  • Tax Book Number: 133.00
  • Tax Lot: 7,8,9
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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
02/21/2019 02/21/19 Sold $1,575,000 -10.0% $684 / Sq Ft
10/22/2018 10/22/18 Pending -- -- --
08/20/2018 08/20/18 For Sale $1,750,000 -- $760 / 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 -- $19,104 -- --
2024 -- $18,195 -- --
2023 $0 $63,730 $13,180 $50,550
2022 $3,042 $42,555 $21,615 $20,940
2021 $0 $63,000 $12,600 $50,400
2020 $0 $31,340 $6,480 $24,860
2019 $0 $25,420 $5,260 $20,160
2018 $1,894 $20,830 $4,310 $16,520
2017 $1,838 $19,060 $3,940 $15,120
2016 $1,825 $18,470 $3,820 $14,650
Source: Public Records

Agents Affiliated with this Home

  • Steven Skarphol

    Seller's Agent in 2019

    Steven Skarphol

    HomeSmart

    (602) 317-5164

    47 Total Sales

    Steven Skarphol
    Section Image
  • Pat Hune

    Buyer's Agent in 2019

    Pat Hune

    1st Southwest Realty, LLC

    (480) 703-1976

    2 in this area

    47 Total Sales

    Pat Hune
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5809251

Arizona Regional Multiple Listing Service (ARMLS)

APN: 133-09-007A

Arizona Maricopa County Tempe 85281 Downtown Tempe

1226 E Spence Ave, 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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