NOT LISTED FOR SALE

501 E Broadway Rd Tempe, AZ 85282

Alameda Neighborhood

Estimated Value: $939,556

0.71 Acre
$1,323,318 Price per Acre
30,928 Sq Ft Lot

Last Sold November 18, 2019

Last sale price $650,000

Est. 45% increase in value since last sale

Current estimated payment $5,604/month

148 Days on Market

About This Lot

As of November 2019

HUGE PRICE DROP FOR QUICK SALE. 501 East Broadway is a unique, bite-sized development opportunity in
the heart of Tempe, Arizona, minutes from the largest university in the
nation. The site is located on the major arterial, Broadway Road, and a
couple blocks from College Avenue which leads directly into the
Arizona State University campus. It is also a short walk / bike ride located
less than 3/4 of a mile away. Additionally the site is approximately one
mile to the nearest light rail station and minutes from the vibrant Mill
Avenue corridor. The location is as central is it gets and allows residents
to enjoy, with ease, so much of what Tempe has to offer: The ASU
campus, Tempe Marketplace, access to the 101 Freeway, and Tempe
Beach Park all just minutes away. This area of Tempe is not only popular because of the university but because it's also one of the most desirable areas in all of Arizona to live and work. The 501 East Broadway development opportunity consists of 0.71 acres of land zoned Residential-Office (R-O). Given its location along a major arterial, all off-site improvements are in place an all utilities are to the site. The location and zoning offers a number of options for an investor/
developer, with a small residential development or office complex
being good options. This site would be ideal for: A small residential
for-sale product, small rental community, office complex, or business location for an end-user. Tempe continues to be one of the most sought after submarkets for new multifamily-residential and mixed-use development due to its proximity to the largest university in the nation, its tremendous employment opportunities, and its convenient, centralized location in the heart of the metroplex. Significant employers in proximity to the property include Arizona State University, General Dynamics, U.S. Airways, Amazon, Microsoft, State Farm, and First Solar.

Last Listed By

John Klocek

ABI Multifamily License #SA657592000 Listed on: 06/18/2019

Property Details

Property Type

  • Land

Est. Annual Taxes

  • $6,037

Year Built

  • 1944

Lot Details

  • 0.71 Acre Lot
  • Property is zoned RO

Community Details

  • No Home Owners Association

Listing and Financial Details

  • Assessor Parcel Number 133-25-002-C

Property Details

Property Type

Land

Est. Annual Taxes

$6,037

Year Built

1944

Lot Details

0

Listing Details

  • Cross Street: Rural & Broadway
  • Legal Info Range: 4E
  • Property Type: Land
  • Development Status: Raw Land
  • Zoning: RO
  • Tax Year: 2018
  • Directions: West on Broadway to property on south side of street.
  • Lot Size Acres: 0.71
  • Co List Office Mls Id: abim01
  • Co List Office Phone: 602-714-1400
  • Tax Parcel Letter: C
  • Special Features: None
  • Property Sub Type: LotsLands
  • Year Built (Public Record): 1944

Interior Features

  • Possible Use: Single Family, Multi-Family, Commercial, Office

Exterior Features

  • Disclosures: None

Utilities

  • Electric: Other (See Rmks)

Condo/Co-op/Association

  • Association: No

Lot Info

  • Lot Size: 210x176 less 60x100
  • Lot Size Sq Ft: 30928.0
  • Additional Parcels: No
  • Parcel #: 133-25-002-C
  • ResoLotSizeUnits: Acres

Tax Info

  • Tax Annual Amount: 6037.0
  • Tax Book Number: 133.00
  • Tax Lot: -
  • Tax Map Number: 25.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 18, 2019
Closed on
Nov 13, 2019
Sold by
Hk 501 E Broadway Rd Llc
Bought by
Broadway Collective Llc
Seller's Agent
John Klocek
ABI Multifamily
Buyer's Agent
Anthony Bruno
RE/MAX Excalibur
List Price
$800,000
Sold Price
$650,000
Premium/Discount to List
-$150,000
-18.75%
Total Days on Market
148
Current Estimated Value
$939,556

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$289,556
Avg. Annual Appreciation
7.07%

Purchase Details

Closed on
Aug 31, 2017
Sold by
The Arc Of Tempe
Bought by
Hk 501 E Broadway Rd Llc

Range of Values:

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Average Value
Not Available
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
Broadway Collective Llc $650,000 Security Title Agency Inc
Hk 501 E Broadway Rd Llc $550,000 Chicago Title Agency Inc
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
11/18/2019 11/18/19 Sold $650,000 -13.2% --
08/13/2019 08/13/19 Price Changed $749,000 -6.4% --
06/16/2019 06/16/19 For Sale $800,000 -- --
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 $4,143 $36,982 $36,982 --
2024 $4,093 $35,221 $35,221 --
2023 $4,093 $62,025 $62,025 $0
2022 $3,926 $50,325 $50,325 $0
2021 $3,953 $50,325 $50,325 $0
2020 $3,833 $50,940 $50,940 $0
2019 $3,760 $57,075 $45,240 $11,835
2018 $6,037 $52,320 $44,385 $7,935
2017 $0 $46,875 $41,100 $5,775
2016 $0 $41,160 $35,745 $5,415
2015 -- $39,872 $35,072 $4,800
Source: Public Records

Agents Affiliated with this Home

  • John Klocek

    Seller's Agent in 2019

    John Klocek

    ABI Multifamily

    (602) 639-0088

    23 Total Sales

    John Klocek
    Section Image
  • Patrick Burch

    Seller Co-Listing Agent in 2019

    Patrick Burch

    ABI Multifamily

    (520) 603-1768

    38 Total Sales

    Patrick Burch
    Section Image
  • Anthony Bruno

    Buyer's Agent in 2019

    Anthony Bruno

    RE/MAX

    (401) 300-9314

    2 in this area

    21 Total Sales

    Anthony Bruno
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5941236

Arizona Regional Multiple Listing Service (ARMLS)

APN: 133-25-002C

Arizona Maricopa County Tempe 85282 Alameda

501 E Broadway Rd, Tempe, AZ

Homes for Sale in Tempe, AZ

This home is located at 501 E Broadway Rd, Tempe, AZ 85282 since 18 June 2019 and is currently estimated at $939,556. This property was built in 1944. 501 E Broadway Rd is a home located in Maricopa County with nearby schools including Broadmor Elementary School, Connolly 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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