Seller's Agent in 2016
Eric Hegarty
Levrose Real Estate
(480) 329-6083
17 Total Sales
407 W 7th St Tempe, AZ 85281
Downtown Tempe Neighborhood
28
Beds
--
Bath
1,800
Sq Ft
1983
Built
Highlights
- Cooling Available
- Patio
- Landscaped
About This Home
As of August 201614 on 7th St. consists of 14 spacious 2-bedroom / 2 bath (approx 900 + sf) unit apartments. Interior amenities include washer and dryer, full size appliances. Units have great living down and sleeping up floor plans with full bathrooms on both floors. Easy to manage linoleum living and kitchen with carpet upstairs. All units have private patios with 40% also have balconies. Carports, lighting, individual metered for electricity. 12 out 14 AC Less then 10 years old. New Roof on both buildings 2009. Location can' t be beat with walking to light-rail, restaurants, shops on Mill Ave and Arizona State University. Great Value Add investment with heavy upside on rents that are 30% below market with many long term tenants. All Facts and Figures Approximate Buyer to Verify to Their Satisfaction.
Last Agent to Sell the Property
Levrose Real Estate License #SA650759000 Listed on: 06/07/2016
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $9,938
Year Built
- Built in 1983
Lot Details
- Landscaped
- Additional Parcels
Home Design
- Composition Roof
- Block Exterior
- Stucco
Parking
- 28 Parking Spaces
- 14 Covered Spaces
Outdoor Features
- Patio
Utilities
- Cooling Available
- Air Source Heat Pump
- Natural Gas Not Available
Listing and Financial Details
- Tenant pays for electricity, cable TV
- The owner pays for water, sewer, trash collection, landscaping
- Tax Lot 2
- Assessor Parcel Number 124-33-041
Community Details
Overview
- 2 Buildings
- 14 Units
- Building Dimensions are 28357
- State Plat No 12 Amd Subdivision
Building Details
- Operating Expense $35,716
- Gross Income $121,632
- Net Operating Income $85,988
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Oct 4, 2018
Sold by
Bought by
Purchase Details
Closed on
Feb 26, 2018
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$965,000
Interest Rate
0.0415%
Mortgage Type
Commercial
Purchase Details
Listed on
Jun 7, 2016
Closed on
Aug 8, 2016
Sold by
Bought by
Seller's Agent
Eric Hegarty
Levrose Real Estate
Buyer's Agent
Royce Munroe
Munroe Multifamily
List Price
$1,680,000
Sold Price
$1,650,000
Premium/Discount to List
-$30,000
-1.79%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,500,000
Interest Rate
0.0405%
Mortgage Type
Commercial
Purchase Details
Closed on
Dec 27, 2007
Sold by
Bought by
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Home Values in the Area
Average Home Value in this Area
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| -- | Accommodation | ||
| $2,583,800 | Pioneer Title Agency Inc | ||
| $1,650,000 | Chicago Title Insurance Co | ||
| -- | None Available |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | $3,000,000 | ||
| Previous Owner | $965,000 | ||
| Previous Owner | $1,500,000 |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 08/12/2016 08/12/16 | Sold | $1,650,000 | -1.8% | $917 / Sq Ft |
| 06/20/2016 06/20/16 | Pending | -- | -- | -- |
| 06/07/2016 06/07/16 | For Sale | $1,680,000 | -- | $933 / Sq Ft |
Source: Arizona Regional Multiple Listing Service (ARMLS)
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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 | $7,271 | $60,666 | ||
| 2024 | $6,714 | $57,777 | ||
| 2023 | $6,714 | $143,140 | $30,210 | $112,930 |
| 2022 | $6,440 | $136,750 | $28,860 | $107,890 |
| 2021 | $6,485 | $112,010 | $23,640 | $88,370 |
| 2020 | $6,288 | $107,550 | $22,700 | $84,850 |
| 2019 | $6,168 | $86,290 | $18,210 | $68,080 |
| 2018 | $6,015 | $74,320 | $13,390 | $60,930 |
| 2017 | $5,836 | $59,500 | $10,720 | $48,780 |
| 2016 | $5,795 | $57,910 | $10,440 | $47,470 |
| 2015 | $5,566 | $57,400 | $10,340 | $47,060 |
Source: Public Records
Agents Affiliated with this Home
-
Eric Hegarty
-
Royce Munroe
R
Buyer's Agent in 2016
Royce Munroe
Munroe Multifamily
(480) 221-5449
1 in this area
39 Total Sales
Map
Source: Arizona Regional Multiple Listing Service (ARMLS)
MLS Number: 5454469
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.
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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