Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$5,100,000
Last Modified:
3/09/2025
Search
1424 S Jentilly Lane, Tempe, AZ 85281
$5,100,000
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
Ownership: Fee Simple
Current Price: $5,100,000
Sold Price: $5,100,000
Status: Closed
List Date: 2020-12-11
Location, Tax & Legal
Assessor's Map #: 10
Assessor's Parcel #: 100
Add'l Parcels: Yes
Tax Municipality: Tempe
Taxes: 17472
Legal: provided at title
Marketing Name: Brix
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
County Code: Maricopa
Assessor Number: 133-10-100
Tax Year: 2020
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 48
Lot Size Dimensions: unknown
Total # of Units: 24
Elementary School District: Tempe Elementary School District
High School District: Tempe Union High School District
Year Built: 1981
Zoning: R4
Project Type
13 - 24 Units: 1
Construction
Wood Frame: 1
Const - Finish
Stucco: 1
Brick Veneer: 1
Roofing
Composition: 1
Floors
Vinyl: 1
Other: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 4800
Annual Ins Exp: 2856
Annual Landscape Exp: 3000
Annual Maint Exp: 8400
Annual Mgmt Exp: 23021
Annual Trash Exp: 3000
Annual Wtr/Swr Exp: 9600
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual Rplcmnt Rsrvs: 7200
Annual Other Expense: 6000
Operating Exp: 85349
Other Income: 15000
Vacancy Allowance: 0.05
Adjusted Gross Inc: 382698
Pmt & Rate Info
Cap Rate: 5.52
Equity: 5400000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Email: 1
Lockbox Type
None: 1
Community Features
Pool: 1
Barbecue: 1
Heating
Electric: 1
Cooling
Ceiling Fan(s): 1
Other: 1
See Remarks: 1
Exterior Amenities
Landscape Wtr System: 1
Green Landscaping: 1
Fenced: 1
Cable TV Available: 1
Patio/Balcony: 1
Tenant Pays
Electricity: 1
Appliances Included
Free-Standing Range: 1
Refrigerator: 1
Disposal: 1
Microwave: 1
Washer/Dryer: 1
Roads/Streets
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
Individual Meter: 1
Sewer
Sewer - Public: 1
Parking Features
>1 Space Per Unit: 1
Electric
SRP: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
New Financing
Other (See Remarks): 1
Reports/Disclosures
None: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
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
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Other
Closing Cost Split: Normal - N
Payment Type: Other
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: Rural Road and Main Street
Geo Lat: 33.411263
Geo Lon: -111.923653
Status Change Info
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
Property Features
Project Type: 13 - 24 Units
Construction: Wood Frame
Const - Finish: Stucco; Brick Veneer
Roofing: Composition
Floors: Vinyl; Other
Sale Includes: Land & Building
Community Features: Pool; Barbecue
Exterior Amenities: Landscape Wtr System; Green Landscaping; Fenced; Cable TV Available; Patio/Balcony
Appliances Included: Free-Standing Range; Refrigerator; Disposal; Microwave; Washer/Dryer
Cooling: Ceiling Fan(s); Other; See Remarks
Water Source: Individual Meter
Sewer: Sewer - Public
Electric: SRP
Gas: None
Parking Features: >1 Space Per Unit
Owner Pays: Water; Trash Collection
Tenant Pays: Electricity
Source of Fincl Data: Owner
Showing Notification Methods: Email
Lockbox Type: None
New Financing: Other (See Remarks)
Environmental: None
Listing Office: ABI Multifamily
Last Updated: March - 09 - 2025
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