Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$4,900,000
Last Modified:
10/15/2020
Search
2325 W GARDEN Drive, Tempe, AZ 85282
$4,900,000
Description
Colonial Park is a twenty-one-unit apartment community centrally located between the highly desirable Ahwatukee + North Tempe submarkets.
Developed in 1988, the property is comprised of spacious two- and three-bedroom single family detached homes as well as two-story townhome
style units with direct access two-car garages. Five units have undergone interior renovations to include modernized kitchens and bathroom.Additional improvements include new ground-mounted HVAC units, artificialturf landscaping, and a re-paved parking lot. Future ownership will have the opportunity to continue interior renovations in order to achieve a
suggested $250 monthly renovation premium. Furthermore, residents are granted access to the thriving employment growth surrounding Phoenix,
Sky Harbor and Tempe.
Supplements: 17 of the units are Single Family Homes , 5 of the units are 2 story attached townhomes. See address schedule in documents
More Information MLS# 5956710
Contract Info
Current Price: $4,900,000
Sold Price: $4,900,000
Status: Closed
List Date: 2019-07-25
Ownership: Fee Simple
Location Tax Legal
Map Code/Grid: R36
House Number: 2325
Compass: W
Street Name: GARDEN
St Suffix: Drive
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85282
Zip4: 6129
Country: USA
County Code: Maricopa
Subdivision: SVOB PARK TOWNHOMES LOT 1-26 TR A-E
Assessor Number: 123-22-579
Tax Year: 2018
General Property Description
Lot Size Dimensions: 1.92
Year Built: 1988
Uncvrd Parking Spcs: 46
Total # of Units: 21
# of Buildings: 17
Zoning: R1-4
Elementary School District: Tempe Elementary School District
High School District: Tempe Union High School District
Remarks Misc
Cross Street: 48th street and Baseline
Geo Lat: 33.385137
Geo Lon: -111.972507
Status Change Info
Status Change Date: 2019-11-30
Off Market Date: 2019-09-04
Under Contract Date: 2019-09-02
Close of Escrow Date: 2019-11-29
Sold Price: $4,900,000
Legal Info
Township: 1N
Range: 4E
Section: 32
Lot Number: 1
Income Expenses
Gross Annual Sch Inc: 361680
Net Operating Income: 252315
2 Bedroom Units
# 2 Bedroom Units: 3
Avg Rent: 1328
Avg SqFt: 1271
# Baths: 2
3 Bedrooms Units
# 3 Bedroom Units: 18
Avg Rent: 1456
Avg SqFt: 1442
# Baths: 2
Sold Info
Loan Type: Conventional
Loan Years: 30
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: %
Seller Concession $/%: %
Property Features
Project Type: 13 - 24 Units
Other Type: House + Rental Units; Packaged Offering
Construction: Frame - Wood
Const - Finish: Painted; Siding
Roofing: Comp Shingle
Floors: Ceramic Tile; Carpet
Sale Includes: Land & Building
Community Amenities: Pool
Exterior Amenities: Green Landscaping
Interior Amenities: Unfurnished; Fire/Smoke Alarm(s); Vertical Blinds; Mini Blinds; Drapes; Breakfast Bar
Appliances Included: F/S Oven/Range; Refrigerator; Dishwasher; Disposal; Microwave
Heating: Natural Gas; Individual
Cooling: Ceiling Fan(s); Individual
Water: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: SW Gas
Parking: Garage; >1 Space Per Unit
Owner Pays: None
Tenant Pays: Water; Electric; Gas
Source of Fincl Data: Provided by Owner
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
Existing 1st Ln Type: Not Applicable
Existing 1st Ln Trms: Not Applicable
Existing 2nd Loan: Other (See Remarks)
Existing 2nd Ln Type: Not Applicable
Existing 2nd Ln Trms: Not Applicable
Existing 3rd Loan: Other (See Remarks)
Existing 3rd Ln Type: Not Applicable
Existing 3rd Ln Trms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Other (See Remarks)
Environmental: None
Listing Office: Platinum Living Realty
Last Updated: October - 15 - 2020
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