NOT LISTED FOR SALE

505 W University Dr Tempe, AZ 85281

Mitchell Park East Neighborhood

Estimated Value: $2,662,594

-- Bed
1 Bath
2,719 Sq Ft
$979/Sq Ft Est. Value

Last Sold August 29, 2017

Last sale price $890,000 $327 Per Sq Ft

Est. 199% increase in value since last sale

Current estimated payment $15,514/month

43 Days on Market

Highlights

  • Central Air
  • Carpet
  • Heating Available

About This Home

As of August 2017

.27 Acre Retail Redevelopment Opportunity on University Drive in close proximity to Mill Avenue and ASU's Main Campus. Existing building is 2,718 SF last used as nonprofit group home and office.CHAPTER 11 BANKRUPTCY TRUSTEE TO SELL PROPERTY***CURRENT OFFER $890,000 WILL BE SUBJECT TO HIGHEST AND BEST BID AT COURT HEARING TO APPROVE SALE***COURT DATE 8/22/2017 @ 11:00 A.M. @ US BANKRUPTCY COURT 230 N 1ST AVE PHX 85003 -COURTROOM 601 JUDGE PAUL SALA***TO BID MUST REGISTER WITH CO-LISTING AGENT ON OR BEFORE 5:00 P.M. THREE DAYS BEFORE THE HEARING AND SUBMIT CASH DEPOSIT OF $10,000 TO ESCROW AGENT*** POTENTIAL BIDDERS MUST BE AT THE COURTHOUSE BY 10:45 A.M. (15 min before hearing).

Last Agent to Sell the Property

Beth Jo Zeitzer

R.O.I. Properties License #BR044331000 Listed on: 05/16/2017

Co-Listed By

Justin Cirell

R.O.I. Properties License #SA644392000

Last Buyer's Agent

Non-MLS Agent

Non-MLS Office

Property Details

Property Type

  • Other

Est. Annual Taxes

  • $8,173

Year Built

  • Built in 1979

Lot Details

  • 0.27 Acre Lot
  • Property is zoned CSS

Home Design

  • 2,719 Sq Ft Home
  • Stucco

Flooring

  • Carpet
  • Vinyl

Parking

  • 15 Open Parking Spaces
  • 15 Parking Spaces
  • Private Parking
  • Paved Parking

Utilities

  • Central Air
  • Heating Available

Listing and Financial Details

  • Tax Lot 1
  • Assessor Parcel Number 124-69-045

Community Details

Overview

  • Goodwin Homes Subdivision

Building Details

  • Operating Expense $14
  • Net Operating Income $1

Property Details

Property Type

Other

Est. Annual Taxes

$8,173

Year Built

Built in 1979

Lot Details

0

Listing Details

  • Cross Street: W University Dr & S Wilson St
  • Legal Info Range: 4E
  • Property Type: Comm/Industry Sale
  • Zoning: CSS
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1979
  • Tax Year: 2016
  • Lot Size Acres: 0.27
  • Professional Management Expense: 1.0
  • Co List Office Mls Id: roip01
  • Co List Office Phone: 602-319-1326
  • Subdivision Name: GOODWIN HOMES
  • Structure Type: Commercial
  • Special Features: None
  • Property Sub Type: Other

Interior Features

  • Flooring: Other, Carpet, Vinyl
  • Living Area: 2719.0

Exterior Features

  • Fencing: None
  • Disclosures: None
  • Construction Type: Other, Stucco
  • Roof: Other
  • Construction:Other (See Remarks)23: Yes
  • Construction:Stucco2: Yes

Garage/Parking

  • Parking Features: Other, Paved, Private
  • Attached Garage: No
  • Open Parking Spaces: 15.0
  • Total Parking Spaces: 15.0
  • General Property Description:Uncvrd Parking Spcs: 15.0
  • General Property Description:Total Parking Spcs: 15.0

Utilities

  • Electric: Other (See Remarks)
  • Cooling: Central Air, Other, See Remarks
  • Heating: Other, See Remarks
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: Other, See Remarks
  • Main Cooling Other: Yes

Fee Information

  • Annual Fuel Expense: 1.0
  • Trash Expense: 1.0
  • Annual Water Sewer Expense: 1.0

Lot Info

  • Lot Size Sq Ft: 11625.0
  • Parcel #: 124-69-045

Multi Family

  • Electric Expense: 1.0
  • Insurance Expense: 1.0
  • Maintenance Expense: 1.0
  • Property Net Operating Income: 1.0
  • Annual Operating Expense: 14.0
  • Vacancy Allowance Rate: 1.0

Tax Info

  • Tax Book Number: 124.00
  • Tax Lot: 1
  • Tax Map Number: 69.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Mar 10, 2025
Sold by
Tempe Commercial Llc
Bought by
Eq University Llc
Current Estimated Value
$2,662,594

Purchase Details

Closed on
Feb 22, 2019
Sold by
Kobold 505 W University Llc
Bought by
Tempe Commercial Llc

Purchase Details

Listed on
May 16, 2017
Closed on
Aug 24, 2017
Sold by
Tumbleweed Center For Youth Development
Bought by
Kobold 505 W University Llc
Seller's Agent
Beth Jo Zeitzer
R.O.I. Properties
Buyer's Agent
Non-MLS Agent
Non-MLS Office
List Price
$875,000
Sold Price
$890,000
Premium/Discount to List
$15,000
1.71%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
15.06%
Original Mortgage
$975,000
Interest Rate
3.86%
Mortgage Type
Construction

Purchase Details

Listed on
Mar 29, 2013
Closed on
Jul 2, 2013
Sold by
505 Llc
Bought by
Tumbleweed Center For Youth Development
Seller's Agent
Barry Booth
Better Homes & Gardens Real Estate SJ Fowler
Buyer's Agent
Non-MLS Agent
Non-MLS Office
List Price
$525,000
Sold Price
$500,000
Premium/Discount to List
-$25,000
-4.76%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
14.98%
Original Mortgage
$400,000
Interest Rate
3.79%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Mar 24, 2009
Sold by
Pike Diana
Bought by
505 Llc

Purchase Details

Closed on
Dec 12, 1996
Sold by
Smith Rita M
Bought by
Plaumann William G

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$36,400
Interest Rate
7.59%
Mortgage Type
New Conventional
Source: Public Records

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
Eq University Llc $2,653,300 First American Title
Tempe Commercial Llc $2,330,000 Thomas Title & Escrow
Kobold 505 W University Llc $890,000 Thomas Title & Escrow
Tumbleweed Center For Youth Development $500,000 Commonwealth Land Title Ins
505 Llc $592,721 None Available
Plaumann William G $45,500 Ati Title Agency
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner 505 W University Llc $975,000
Previous Owner Kobold 505 W University Llc $467,500
Previous Owner Tumbleweed Center For Youth Development $1,120,000
Previous Owner Tumbleweed Center For Youth Development $400,000
Previous Owner Plaumann William G $36,400
Previous Owner Smith Nancy K $38,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/29/2017 08/29/17 Sold $890,000 +1.7% $327 / Sq Ft
05/01/2017 05/01/17 For Sale $875,000 +75.0% $322 / Sq Ft
07/15/2013 07/15/13 Sold $500,000 -4.8% $193 / Sq Ft
06/05/2013 06/05/13 Pending -- -- --
03/26/2013 03/26/13 For Sale $525,000 -- $203 / 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 $8,173 $70,754 -- --
2024 $8,320 $69,491 -- --
2023 $8,320 $68,187 $15,419 $52,768
2022 $10,915 $93,363 $44,713 $48,650
2021 $11,304 $93,762 $44,730 $49,032
2020 $10,961 $113,508 $37,782 $75,726
2019 $8,071 $65,415 $28,275 $37,140
2018 $7,870 $74,280 $37,215 $37,065
2017 $0 $62,610 $34,470 $28,140
2016 $0 $58,800 $31,905 $26,895
2015 -- $52,800 $32,848 $19,952
Source: Public Records

Agents Affiliated with this Home

  • Beth Jo Zeitzer

    Seller's Agent in 2017

    Beth Jo Zeitzer

    R.O.I. Properties

    (602) 653-0352

    Section Image
  • Justin Cirell

    Seller Co-Listing Agent in 2017

    Justin Cirell

    R.O.I. Properties

    (480) 356-1450

    7 Total Sales

    Justin Cirell
    Section Image

  • N

    Buyer's Agent in 2017

    Non-MLS Agent

    Non-MLS Office

  • B

    Seller's Agent in 2013

    Barry Booth

    Better Homes & Gardens Real Estate SJ Fowler

See All Agents

Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5606225

Arizona Regional Multiple Listing Service (ARMLS)

APN: 124-69-045

Arizona Maricopa County Tempe 85281 Mitchell Park East

505 W University Dr, Tempe, AZ

This home is located at 505 W University Dr, Tempe, AZ 85281 since 16 May 2017 and is currently estimated at $2,662,594, approximately $979 per square foot. This property was built in 1979. 505 W University Dr is a home located in Maricopa County with nearby schools including Geneva Epps Mosley Middle School, Tempe High School, and New School for the Arts & Academics.

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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