NOT LISTED FOR SALE

903 S Farmer Ave Tempe, AZ 85281

Maple Ash Neighborhood

Estimated Value: $792,000 - $896,000

-- Bed
-- Bath
2,231 Sq Ft
$375/Sq Ft Est. Value

Last Sold December 08, 2015

Last sale price $1,218,000 $546 Per Sq Ft

Est. 31% decrease in value since last sale

Current estimated payment $4,733/month

99 Days on Market

About This Home

As of December 2015

14 Units , 4 buildings single story all 1bed/1bath. Owner has been hands on since he bought in 1989. Roofs on 3 out of 4 buildings are 50 year with 10 years left. 4th Roof has 10 years left per inspector. All AC units are 2005 regularly maintained. Desert landscape separating buildings, 10 Units have private walled patio's. Covered parking with Dusk/Dawn lighting, 1 carport per Tenant. Tenants each pay for gas water heater gas and APS for all units: heat pumps, microwaves, electric glass top stoves(915 & 921 (6) units, dishwasher. 903-909 (8 units generally have separate wall ovens and stove tops.) All Water pipes are copper. New electric panels installed 2014 for all 14 units. Victoria Style Bath with Moen Fixtures. Buyer to verify all items prior to end of due diligence period

Last Agent to Sell the Property

Eric Hegarty

Better Homes & Gardens Real Estate SJ Fowler License #SA650759000 Listed on: 07/07/2015

Better Homes & Gardens Real Estate SJ Fowler

Last Buyer's Agent

Non-MLS Agent

Non-MLS Office

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,256

Year Built

  • Built in 1964

Lot Details

  • Additional Parcels

Home Design

  • Composition Roof
  • Block Exterior

Parking

  • 2 Open Parking Spaces
  • 16 Parking Spaces
  • 14 Covered Spaces

Utilities

  • Cooling Available
  • Heating System Uses Natural Gas
  • Heat Pump System
  • Individual Controls for Heating

Listing and Financial Details

  • Tenant pays for cable TV
  • The owner pays for trash collection, water, sewer, landscaping
  • Tax Lot 1-4
  • Assessor Parcel Number 124-69-011

Community Details

Overview

  • 4 Buildings
  • 14 Units
  • Building Dimensions are 123x205
  • Farmers Blks 4 5& Pt 3, Lots 6 9 Subdivision

Building Details

  • Gross Income $112,650
  • Net Operating Income $76,690

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,256

Year Built

Built in 1964

Lot Details

0

Listing Details

  • Cross Street: 9th St and Farmer
  • Property Type: Multiple Dwellings
  • Zoning: R-3
  • Number Of Buildings: 4
  • Year Built: 1964
  • Tax Year: 2015
  • Directions: Mill Ave & University. West on University, South on Farmer Property southeast Corner of 9th St and Farmer.
  • Road Surface Type: Asphalt
  • Professional Management Expense: 11427.0
  • Subdivision Name: Farmers BLKS 4-5& PT 3, Lots 6-9
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator: Yes
  • Appliances Included:Dishwasher: Yes
  • Appliances Included:Disposal: Yes
  • Appliances Included:Microwave2: Yes
  • Appliances Included:BI OvenRange: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Painted, Block
  • Roof: See Remarks, Composition
  • Construction:Block: Yes

Garage/Parking

  • Total Covered Spaces: 14.0
  • Open Parking Spaces: 2.0
  • Total Parking Spaces: 16.0
  • General Property Description:Covered Parking Spcs: 14.0
  • General Property Description:Uncvrd Parking Spcs: 2.0
  • General Property Description:Total Parking Spcs: 16.0
  • Parking:Paved Parking: Yes
  • Parking:Other (See Remarks)24: Yes
  • Parking:_one_ SpaceUnit: Yes

Utilities

  • Electric: APS
  • Cooling: Individual, Heat Pump
  • Heating: Individual, Electric, Natural Gas
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Natural Gas: Yes
  • Heating:Electric: Yes
  • Heating:Individual: Yes

Condo/Co-op/Association

  • Community Features: Other, See Remarks

Association/Amenities

  • Community Amenities:Other18: Yes
  • Exterior Amenities:PatioBalcony: Yes
  • Exterior Amenities:Security Light(s)3: Yes
  • Community Amenities:See Remarks15: Yes
  • Exterior Amenities:Desert Landscaping: Yes

Fee Information

  • Annual Fuel Expense: 481.0
  • Annual Water Sewer Expense: 4888.0

Lot Info

  • Lot Size: 123x205
  • Additional Parcels: Yes
  • Parcel #: 124-69-011

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Tenant Pays: Cable TV
  • Number Of Units Total: 14
  • Electric Expense: 1835.0
  • Annual Gross Income: 112650.05
  • Insurance Expense: 2387.0
  • Maintenance Expense: 7000.0
  • Property Net Operating Income: 76690.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 6256.0
  • Tax Book Number: 124.00
  • Tax Lot: 1-4

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 7, 2015
Closed on
Dec 2, 2015
Sold by
Thompson Philip R and Thompson Susan P
Bought by
Mills Props Llc
Seller's Agent
Eric Hegarty
Better Homes & Gardens Real Estate SJ Fowler
Buyer's Agent
Non-MLS Agent
Non-MLS Office
List Price
$1,275,000
Sold Price
$1,218,000
Premium/Discount to List
-$57,000
-4.47%
Current Estimated Value
$837,333

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$380,667
Avg. Annual Appreciation
-3.96%
Original Mortgage
$915,000
Outstanding Balance
$730,060
Interest Rate
3.73%
Mortgage Type
Commercial
Estimated Equity
$93,940

Purchase Details

Closed on
Jun 19, 2015
Sold by
Thompson Phillip R and Thompson Susan P
Bought by
Thompson Philip R and Thomspn Susan P

Purchase Details

Closed on
Mar 22, 2004
Sold by
Thompson Philip R
Bought by
Thompson Philip R and Thompson Susan P
Source: Public Records

Range of Values:

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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
Mills Props Llc $1,218,000 First Arizona Title Agency
Thompson Philip R -- None Available
Thompson Philip R -- None Available
Thompson Philip R -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Mills Props Llc $915,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/08/2015 12/08/15 Sold $1,218,000 -4.5% $546 / Sq Ft
10/09/2015 10/09/15 Pending -- -- --
07/02/2015 07/02/15 For Sale $1,275,000 -- $571 / 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 $1,786 $15,941 -- --
2024 $1,764 $15,181 -- --
2023 $1,764 $51,330 $10,260 $41,070
2022 $1,692 $40,630 $8,120 $32,510
2021 $1,704 $33,910 $6,780 $27,130
2020 $1,652 $29,680 $5,930 $23,750
2019 $1,621 $24,310 $4,860 $19,450
2018 $1,581 $18,080 $3,610 $14,470
2017 $1,534 $17,120 $3,420 $13,700
2016 $1,523 $16,380 $3,270 $13,110
2015 $1,463 $16,480 $3,290 $13,190
Source: Public Records

Agents Affiliated with this Home

  • Eric Hegarty

    Seller's Agent in 2015

    Eric Hegarty

    Better Homes & Gardens Real Estate SJ Fowler

    (480) 649-3536

    21 Total Sales

    Section Image

  • N

    Buyer's Agent in 2015

    Non-MLS Agent

    Non-MLS Office

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5303929

Arizona Regional Multiple Listing Service (ARMLS)

APN: 124-69-011

Arizona Maricopa County Tempe 85281 Maple Ash

903 S Farmer Ave, Tempe, AZ

This home is located at 903 S Farmer Ave, Tempe, AZ 85281 since 07 July 2015 and is currently estimated at $837,333, approximately $375 per square foot. This property was built in 1964. 903 S Farmer Ave 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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