NOT LISTED FOR SALE

1331 W 3rd St Tempe, AZ 85281

Sunset Neighborhood

Estimated Value: $611,034 - $938,000

-- Bed
-- Bath
2,608 Sq Ft
$296/Sq Ft Est. Value

Last Sold July 27, 2016

Last sale price $245,000 $94 Per Sq Ft

Est. 215% increase in value since last sale

Current estimated payment $4,475/month

172 Days on Market

About This Home

As of July 2016

Building is walking distance from 2 bus lines and is about one mile south of light rail and Tempe Town Lake and one mile west of Arizona State University. Desert landscaping for easy maintenance. In addition to the 8 parking spaces at rear of property, on street parking is plentiful in front of property on 3rd St. Building is stucco over block which provides good insulation and low heating/cooling costs for tenants. Units have security windows with emergency exit releases in keeping with building/fire codes. All have security doors and little porches with lockable gaits. Small building to rear of 4 plex contains coin op washer/dryer, and the sheds for the 2 front apts. The 2 rear apts have sheds attached to them. Leases all month to month. No section 8 tenants. Seller has owned the property since 1998, resides a few miles away, and has other rental properties in Tempe. Seller has been very involved and hands on with property and tenants. Seller is a licensed real estate agent in the State of Arizona.

Last Listed By

Jared English

Congress Realty, Inc. License #BR569813000 Listed on: 12/25/2015

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,768

Year Built

  • Built in 1981

Lot Details

  • 8,364

Home Design

  • Built-Up Roof
  • Block Exterior
  • Stucco

Parking

  • 7 Open Parking Spaces
  • 7 Parking Spaces
  • Common or Shared Parking

Schools

  • Scales Technology Academy Elementary School
  • Geneva Epps Mosley Middle School
  • Tempe High School

Utilities

  • Multiple cooling system units
  • Multiple Heating Units
  • Heat Pump System
  • Individual Controls for Heating

Listing and Financial Details

  • Tenant pays for cable TV
  • The owner pays for water, landscaping
  • Tax Lot 6
  • Assessor Parcel Number 124-28-043

Community Details

Overview

  • 4 Units
  • Building Dimensions are 8362
  • Griffith Estates Subdivision

Building Details

  • Operating Expense $4,860
  • Gross Income $81,354
  • Net Operating Income $2,225

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,768

Year Built

Built in 1981

Lot Details

0

Listing Details

  • Cross Street: 3rd & Priest Dr.
  • Property Type: Multiple Dwellings
  • Zoning: R-3
  • Number Of Buildings: 1
  • Year Built: 1981
  • Tax Year: 2015
  • Directions: 3rd St. is South of Rio Salado, North of University. From Priest proceed East on 3rd street – subject property is the 3rd 4plex from the corner of 3rd St and Priest.
  • Attribution Contact: 888-229-2009
  • Road Surface Type: Asphalt, Concrete, Curb(s) & Gutter(s), Sidewalk(s), Alley
  • Subdivision Name: Griffith Estates
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator: Yes
  • Appliances Included:WasherDryer: Yes

Exterior Features

  • Disclosures: Seller Prop Disc Stm
  • Construction Type: Stucco, Block
  • Roof: See Remarks, Built-Up
  • Construction:Block: Yes

Garage/Parking

  • Parking Features: Common
  • Attached Garage: No
  • Open Parking Spaces: 7.0
  • Total Parking Spaces: 7.0
  • General Property Description:Uncvrd Parking Spcs: 7.0
  • General Property Description:Total Parking Spcs: 7.0
  • Parking:Carport: Yes
  • Parking:Free: Yes
  • Parking:Street Parking: Yes
  • Parking:_greater_1 Space Per Unit: Yes
  • Parking:Paved Parking: Yes

Utilities

  • Electric: SRP
  • Cooling: 2 or More Units, Individual
  • Heating: Individual, Heat Pump, 2 or More Units, Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Heating:Electric: Yes
  • Heating:Individual: Yes
  • Heating:Heat Pump2: Yes
  • Heating:_two_ or More Units3: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Exterior Amenities:PatioBalcony: Yes
  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Desert Landscaping: Yes
  • Exterior Amenities:Separate Storage: Yes

Fee Information

  • Annual Water Sewer Expense: 1881.0

Schools

  • Elementary School: Scales Technology Academy
  • High School: Tempe High School
  • Middle Or Junior School: Geneva Epps Mosley Middle School

Lot Info

  • Lot Size: 8362
  • Additional Parcels: No
  • Parcel #: 124-28-043

Multi Family

  • Owner Pays: Water, Landscaping
  • Tenant Pays: Cable TV
  • Number Of Units Total: 4
  • Electric Expense: 441.0
  • Annual Gross Income: 81354.0
  • Insurance Expense: 770.0
  • Property Net Operating Income: 2225.0
  • Annual Operating Expense: 4860.0
  • Vacancy Allowance Rate: 3.98

Tax Info

  • Tax Annual Amount: 1768.0
  • Tax Book Number: 124.00
  • Tax Lot: 6

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Dec 25, 2015
Closed on
Sep 7, 2016
Sold by
Bertlesman Thomas
Bought by
Jfo Trust
Seller's Agent
Jared English
Congress Realty, Inc.
Buyer's Agent
Sophia Kim
Unique Real Estate
List Price
$275,000
Sold Price
$245,000
Premium/Discount to List
-$30,000
-10.91%
Total Days on Market
172
Current Estimated Value
$771,009

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$526,009
Avg. Annual Appreciation
13.97%

Purchase Details

Listed on
Dec 25, 2015
Closed on
Jul 25, 2016
Sold by
Bertlesman Sally A
Bought by
Bertlesman Thomas
Seller's Agent
Jared English
Congress Realty, Inc.
Buyer's Agent
Sophia Kim
Unique Real Estate
List Price
$275,000
Sold Price
$245,000
Premium/Discount to List
-$30,000
-10.91%

Purchase Details

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

Purchase Details

Closed on
Jan 1, 2005
Sold by
Alvarez Eliseo
Bought by
Alvarez Arlene C

Purchase Details

Closed on
Jul 16, 1998
Sold by
Lemons Gary R
Bought by
Charles Harry L and Gonzales Arlene C

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$116,550
Interest Rate
7.01%
Mortgage Type
New Conventional

Purchase Details

Closed on
Oct 3, 1995
Sold by
Edwards Therese G
Bought by
Lemons Gary R

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
Jfo Trust $316,800 Chicago Title Agency
Bertlesman Thomas -- Chicago Title Agency Inc
Berletsman Thomas $245,000 Chicago Title Agency
Alvarez Arlene -- --
Alvarez Arlene C -- --
Gonzales Arlene C -- --
Charles Harry L $129,500 Grand Canyon Title Agency In
Lemons Gary R $110,750 United Title Agency
Edwards Therese G -- United Title Agency
Edwards Therese G -- United Title Agency
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Alvarez Arlene $91,500
Previous Owner Charles Harry L $116,550
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/27/2016 07/27/16 Sold $245,000 -10.9% $94 / Sq Ft
06/13/2016 06/13/16 Pending -- -- --
05/31/2016 05/31/16 For Sale $275,000 0.0% $105 / Sq Ft
12/30/2015 12/30/15 Pending -- -- --
12/24/2015 12/24/15 For Sale $275,000 -- $105 / 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 $2,158 $19,267 -- --
2024 $2,132 $18,350 -- --
2023 $2,132 $50,150 $10,030 $40,120
2022 $2,045 $41,730 $8,340 $33,390
2021 $2,059 $37,450 $7,490 $29,960
2020 $1,997 $34,130 $6,820 $27,310
2019 $1,959 $25,600 $5,120 $20,480
2018 $1,910 $23,400 $4,680 $18,720
2017 $1,854 $20,060 $4,010 $16,050
2016 $1,841 $17,280 $3,450 $13,830
2015 $1,768 $17,160 $3,430 $13,730
Source: Public Records

Agents Affiliated with this Home

  • J

    Seller's Agent in 2016

    Jared English

    Congress Realty, Inc.

  • Sophia Kim

    Buyer's Agent in 2016

    Sophia Kim

    Unique Real Estate

    (480) 570-5800

    9 Total Sales

    Sophia Kim
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5375965

Arizona Regional Multiple Listing Service (ARMLS)

APN: 124-28-043

Arizona Maricopa County Tempe 85281 Sunset

1331 W 3rd St, Tempe, AZ

Homes for Sale in Tempe, AZ

This home is located at 1331 W 3rd St, Tempe, AZ 85281 since 25 December 2015 and is currently estimated at $771,009, approximately $295 per square foot. This property was built in 1981. 1331 W 3rd St is a home located in Maricopa County with nearby schools including Scales Technology Academy, 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