NOT LISTED FOR SALE

1235 W Southern Ave Tempe, AZ 85282

West Tempe Neighborhood

Estimated Value: $851,000 - $1,001,000

-- Bed
-- Bath
3,000 Sq Ft
$309/Sq Ft Est. Value

Last Sold July 26, 2019

Last sale price $550,000 $183 Per Sq Ft

Est. 68% increase in value since last sale

Current estimated payment $5,123/month

Highlights

  • Ceramic Tile Flooring
  • Central Heating and Cooling System
  • 4-minute walk to Petersen Park

About This Home

As of July 2019

We are pleased to present West Park Apartments. These units are all two bedroom one bath units. This is a portfolio sale and can buy each at $575,000 1229 and 1235 W Southern Ave. 6.18% cap on proforma when all units rented at new rents. 5 of the units have been completely remodeled and 3 have not been updated. All units have covered parking and yards. Property has roofs replaced in the past year as well as new windows new paint and 5 newly remodeled units. units. All facts and figures are approximate buyer verify MLS information. Old rents from long term tenants and new rents being currently raised. Drive by only tenants are unaware of sale.

Last Agent to Sell the Property

Sophia Baron

Grace CRE License #BR648866000 Listed on: 05/17/2019

Last Buyer's Agent

Robert Dishman

Ownit Realty License #SA627419000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,070

Year Built

  • Built in 1970

Lot Details

  • Additional Parcels

Home Design

  • Block Exterior

Flooring

  • Carpet
  • Ceramic Tile
  • Vinyl

Parking

  • 8 Parking Spaces
  • 4 Covered Spaces
  • Common or Shared Parking
  • On-Street Parking

Utilities

  • Central Heating and Cooling System
  • Heat Pump System

Listing and Financial Details

  • Tenant pays for electricity
  • The owner pays for trash collection, water, sewer, landscaping
  • Tax Lot 2
  • Assessor Parcel Number 123-42-066

Community Details

Overview

  • 8 Units
  • Building Dimensions are 0.213 acres / 9,275 sqft

Building Details

  • Operating Expense $32,610
  • Gross Income $106,780
  • Net Operating Income $74,170

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,070

Year Built

Built in 1970

Lot Details

0

Listing Details

  • Cross Street: Southern and Priest
  • Property Type: Multiple Dwellings
  • Zoning: R-3
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1970
  • Tax Year: 2018
  • Directions: Head east on southern from Priest and property on right hand side drive through alley for access
  • Road Surface Type: Gravel, Dirt, Asphalt
  • Professional Management Expense: 10000.0
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Carpet, Ceramic Tile, Vinyl
  • Appliances: Other (See Remarks), F/S Oven/Range
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Other (See Remarks)56: Yes
  • Appliances Included:Refrigerator2: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Painted, Block
  • Roof: Rolled/Hot Mop
  • Construction:Block: Yes

Garage/Parking

  • Total Covered Spaces: 4.0
  • Parking Features: 1 Space/Unit, <1 Space Per Unit, Street Parking, Common
  • Attached Garage: No
  • Open Parking Spaces: 4.0
  • Total Parking Spaces: 8.0
  • General Property Description:Covered Parking Spcs: 4.0
  • General Property Description:Uncvrd Parking Spcs: 4.0
  • General Property Description:Total Parking Spcs: 8.0
  • Parking:Carport: Yes
  • Parking:Street Parking: Yes
  • Parking:_less_1 Space Per Unit: Yes

Utilities

  • Electric: SRP
  • Cooling: Electric, Heat Pump, Individual, Central A/C
  • Heating: Central, Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes
  • Heating:Central: Yes

Condo/Co-op/Association

  • Community Features: Other, See Remarks, No Pool

Association/Amenities

  • Community Amenities:No Pool: Yes
  • Interior Amenities:Other (See Remarks)51: Yes
  • Exterior Amenities:Other (See Remarks)58: Yes

Fee Information

  • Trash Expense: 1500.0
  • Annual Water Sewer Expense: 3500.0

Schools

  • Junior High Dist: Tempe Union High School District

Lot Info

  • Lot Size: 0.213 acres / 9,275 sqft
  • Additional Parcels: Yes
  • Parcel #: 123-42-066

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Tenant Pays: Electricity
  • Number Of Units Total: 8
  • Electric Expense: 600.0
  • Annual Gross Income: 106780.0
  • Insurance Expense: 2400.0
  • Maintenance Expense: 4000.0
  • Property Net Operating Income: 74170.0
  • Annual Operating Expense: 32610.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 2070.0
  • Tax Book Number: 123.00
  • Tax Lot: 2

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jan 7, 2022
Sold by
Nguyen Chad V
Bought by
1235 W Southern Llc
Current Estimated Value
$926,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$612,000
Outstanding Balance
$584,228
Interest Rate
3.45%
Mortgage Type
New Conventional
Estimated Equity
$341,772

Purchase Details

Listed on
May 17, 2019
Closed on
Jul 17, 2019
Sold by
Willets Sophia and The Sophia Willets Pllc
Bought by
Nguyen Chad V
Seller's Agent
Sophia Baron
Grace CRE
Buyer's Agent
Robert Dishman
Ownit Realty
List Price
$1,150,000
Sold Price
$550,000
Premium/Discount to List
-$600,000
-52.17%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.80%
Original Mortgage
$440,000
Interest Rate
5.75%
Mortgage Type
Adjustable Rate Mortgage/ARM

Purchase Details

Closed on
Apr 8, 2019
Sold by
1235 Southern Llc
Bought by
Fair Property Transactions Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$685,000
Interest Rate
4.4%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 18, 2017
Sold by
Lombardi Brandon F
Bought by
1235 Southern Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$615,825
Interest Rate
3.94%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 12, 2017
Sold by
Zanadu Group Of Companies Llc
Bought by
Lombardi Brandon F

Purchase Details

Closed on
Aug 4, 2017
Sold by
Bfl Consulting Llc
Bought by
Zanadu Group Of Companies Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$200,000
Interest Rate
3.9%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
May 31, 2017
Sold by
Alvarez Trlaca
Bought by
Talasnis Az Llc

Purchase Details

Closed on
Oct 27, 2005
Sold by
Alvarez Arlene and Gonzales Arlene
Bought by
Alvarez Arlene

Purchase Details

Closed on
Nov 11, 1999
Sold by
Thomas Richard
Bought by
Gonzales Arlene

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$133,650
Interest Rate
7.82%
Mortgage Type
New Conventional

Purchase Details

Closed on
May 26, 1998
Sold by
Thomas Russell V and Thomas Mary Sue
Bought by
Thomas Richard

Purchase Details

Closed on
Dec 30, 1997
Sold by
Schoonmaker Michael P and Schoonmaker Gene M
Bought by
Thomas Russell and Thomas Mary Sue

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$127,812
Interest Rate
7.16%
Mortgage Type
FHA
Source: Public Records

Range of Values:

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Average Value
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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 Buyer Sale Price Title Company
1235 W Southern Llc -- Old Republic Title
Nguyen Chad V $550,000 Old Republic Title Agency
Fair Property Transactions Llc $715,000 Pioneer Title Agency Inc
1235 Southern Llc $660,000 Pioneer Title Agency Inc
Lombardi Brandon F -- Accommodation
Zanadu Group Of Companies Llc -- Pioneer Title Agency Inc
Zanadu Group Of Companies Llc -- Pioneer Title Agency Inc
Talasnis Az Llc $305,000 Pioneer Title Agency
Alvarez Arlene -- --
Gonzales Arlene $148,500 Chicago Title Insurance Co
Thomas Richard -- Grand Canyon Title Agency In
Thomas Russell $135,000 Grand Canyon Title Agency In
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open 1235 W Southern Llc $612,000
Previous Owner Nguyen Chad V $880,000
Previous Owner Fair Property Transactions Llc $685,000
Previous Owner 1235 Southern Llc $615,825
Previous Owner Zanadu Group Of Companies Llc $200,000
Previous Owner Gonzales Arlene $133,650
Previous Owner Thomas Russell $127,812
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/26/2019 07/26/19 Sold $550,000 -52.2% $183 / Sq Ft
07/24/2019 07/24/19 For Sale $1,150,000 0.0% $383 / Sq Ft
07/24/2019 07/24/19 Price Changed $1,150,000 0.0% $383 / Sq Ft
07/03/2019 07/03/19 For Sale $1,150,000 0.0% $383 / Sq Ft
07/03/2019 07/03/19 Price Changed $1,150,000 0.0% $383 / Sq Ft
05/28/2019 05/28/19 Price Changed $1,150,000 -4.1% $383 / Sq Ft
05/17/2019 05/17/19 For Sale $1,199,000 -- $400 / Sq Ft
05/17/2019 05/17/19 Pending -- -- --
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 $2,564 $22,893 -- --
2024 $2,534 $21,803 -- --
2023 $2,534 $67,370 $13,470 $53,900
2022 $2,430 $48,330 $9,660 $38,670
2021 $2,447 $37,760 $7,550 $30,210
2020 $2,373 $32,750 $6,550 $26,200
2019 $2,328 $25,860 $5,170 $20,690
2018 $2,270 $28,400 $5,680 $22,720
2017 $2,202 $24,550 $4,910 $19,640
2016 $2,187 $23,230 $4,640 $18,590
2015 $2,100 $23,510 $4,700 $18,810
Source: Public Records

Agents Affiliated with this Home

  • Sophia Baron

    Seller's Agent in 2019

    Sophia Baron

    Grace CRE

    (480) 375-0227

    1 in this area

    84 Total Sales

    Sophia Baron
    Section Image
  • Robert Dishman

    Buyer's Agent in 2019

    Robert Dishman

    Ownit Realty

    (480) 217-9507

    1 in this area

    18 Total Sales

    Robert Dishman
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5928444

Arizona Regional Multiple Listing Service (ARMLS)

APN: 123-42-066

Arizona Maricopa County Tempe 85282 West Tempe

1235 W Southern Ave, Tempe, AZ

This home is located at 1235 W Southern Ave, Tempe, AZ 85282 since 17 May 2019 and is currently estimated at $926,000, approximately $308 per square foot. This property was built in 1970. 1235 W Southern Ave is a home located in Maricopa County with nearby schools including Carminati Elementary School, Geneva Epps Mosley Middle School, and Tempe High School.

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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