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809 W 1ST Street Tempe, AZ 85281
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Key Details
Sold Price $595,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Monterrey Village Plat 3 Unit 1
MLS Listing ID 5980215
Sold Date 12/13/19
Originating Board Arizona Regional Multiple Listing Service (ARMLS)
Year Built 1964
Annual Tax Amount $1,511
Tax Year 2019
Lot Dimensions 61 X 97
Property Description
Four on First is a four-unit apartment community located in the highly desirable North Tempe Submarket. Developed in 1964, the property is comprised of one single level building containing four units, composed of 100% two-bedroom one bath units. The apartment exterior showcases well maintained desert
landscaping facing First Street, and spacius corridors on either side of the building allowing for ease of access. A new investor can take advantage of the value add nature of the deal, realizing rental premiums of $100+ per unit after moderate renovatiuons
to the interior/exterior. Another potential source of revenue are the individual storage units: renting them out individually would create another source of revenue. Additionally, the availability of residential financing helps even further
Location
State AZ
County Maricopa
Community Monterrey Village Plat 3 Unit 1
Zoning multi
Direction From Rio Salado Pkwy: South on South Hardy Dr. to West 1st St. Turn East on West 1st St. See property is on the right hand side.
Interior
Heating Individual, Natural Gas
Cooling Central A/C
Flooring Concrete
Appliance FS OvenRange, Refrigerator
Exterior
Parking Features Paved Parking
Community Features No Pool
Roof Type See Remarks, Composition
Total Parking Spaces 6
Building
Sewer Public Sewer
Water City Franchise
New Construction No
Schools
Elementary Schools Tempe Academy Of International Studies Mckemy
Middle Schools Tempe Academy Of International Studies Mckemy
High Schools Tempe Academy Of International Studies Mckemy
School District Tempe Union High School District
Others
Senior Community No
Tax ID 124-31-111
Acceptable Financing Conventional
Listing Terms Conventional
Financing Conventional
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