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1424 S Jentilly Lane, Tempe, AZ 85281

$5,100,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $5,100,000 Last Modified: 8/23/2023

Description

Brix is a 24-unit, garden-style condominium community located within three blocks of Arizona State University's Main Campus in Tempe. Brix was built in 1981 of wood frame construction with a painted stucco exterior and pitched roofs. Brix has an attractive mix of one and twobedroom unit types. Every condominium enjoys a private backyard or balcony and the convenience of an in-suite washer and dryer. Recent updates included modern interior finishes with new shaker cabinets, solid surface counters, tile backsplash, and stainless-steel appliances. Every condominium enjoys energy-efficient dual pane windows, sliding glass doors, and ceiling fans. Tenant amenities include controlled access, gated entry, on-site maintenance, a BBQ area with ramada, and a swimming pool.

Supplements: All units are individually metered for electricity and hot water. Brix is located within walking distance of the Valley Metro Light Rail and multiple "Orbit" shuttle bus stations, which provides free rides connecting people to Downtown Tempe and other employment, retail, and entertainment venues within the city. Numerous dining and shopping options are in close proximity to the property including Tempe Marketplace, one of the most popular destinations in the Phoenix Metro, with 1.3 million square feet housing over 100 local and national retailers and restaurants. The Brix community enjoys the pedestrian and bike-friendly streets of Tempe and its proximity to the Loop 101 and 202 Freeways offers quick access to Scottsdale, Downtown Phoenix, and Phoenix Sky Harbor International Airport. Significant employers in proximity to the property include Arizona State University, State Farm, Salt River Project, Honeywell, Express Scripts, and First Solar.

More Information MLS# 6170361

Contract Info

Current Price: $5,100,000 Sold Price: $5,100,000 Status: Closed List Date: 2020-12-11 Ownership: Fee Simple

Location Tax Legal

Map Code/Grid: R37 House Number: 1424 Compass: S Street Name: Jentilly St Suffix: Lane City/Town Code: Tempe State/Province: AZ Zip Code: 85281 Country: USA County Code: Maricopa Assessor Number: 133-10-100 Tax Year: 2020

General Property Description

Lot Size Dimensions: unknown Year Built: 1981 Uncvrd Parking Spcs: 48 Total # of Units: 24 # of Buildings: 2 Zoning: R4 Elementary School District: Tempe Elementary School District High School District: Tempe Union High School District

Remarks Misc

Cross Street: Rural Road and Main Street Geo Lat: 33.411263 Geo Lon: -111.923653

Status Change Info

Status Change Date: 2021-03-22 Off Market Date: 2020-12-28 Under Contract Date: 2020-12-23 Close of Escrow Date: 2021-03-05 Sold Price: $5,100,000

Legal Info

Lot Number: unknown

Income Expenses

Gross Annual Sch Inc: 387840 Net Operating Income: 298099

1 Bedroom Units

# 1 Bedroom Units: 8 Avg Rent: 1050 Avg SqFt: 605 # Baths: 1

2 Bedroom Units

# 2 Bedroom Units: 16 Avg Rent: 1495 Avg SqFt: 816 # Baths: 2

Sold Info

Loan Type: Other Payment Type: Other Closing Cost Split: Normal - N Buyer Concession $/%: $ Seller Concession $/%: $

Property Features

Project Type: 13 - 24 Units Construction: Frame - Wood Const - Finish: Stucco; Brick Trim/Veneer Roofing: Comp Shingle Floors: Vinyl; Other Sale Includes: Land & Building Community Amenities: Pool; Barbecue Exterior Amenities: Landscape Wtr System; Green Landscaping; Fenced; Cable TV Available; Patio/Balcony Appliances Included: F/S Oven/Range; Refrigerator; Disposal; Microwave; Washer/Dryer Cooling: Ceiling Fan(s); Other; See Remarks Water: Individual Meter Sewer: Sewer - Public Electric: SRP Gas: None Parking: >1 Space Per Unit Owner Pays: Water; Trash Collection Tenant Pays: Electric Source of Fincl Data: Provided by Owner Showing Notification Methods: Email Lockbox Type: None New Financing: Other (See Remarks) Environmental: None
Listing Office: ABI Multifamily
Last Updated: August - 23 - 2023
1424 S Jentilly Lane, Tempe, AZ 85281- MLS# 6170361
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