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2435 N McAllister Avenue, Tempe, AZ 85288

$3,500,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $3,500,000 Last Modified: 7/06/2022

Overview

Description

A prime property with excellent cash flow and occupancy. This well maintained 38 unit complex is a rare find in Tempe. Offered with a cap rate at 6.88% and the potential of owner financing for up to five years at 5% interest with a 25% down payment.

Listing Details MLS# 4871786

Location, Tax & Legal

Map Code/Grid: Q37
House Number: 2435
Compass: N
Street Name: McAllister
St Suffix: Avenue
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85288
Country: US
County Code: Maricopa
Assessor Number: 129-16-101-B
Tax Year: 2012

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: Irr
Year Built: 1984
Uncvrd Parking Spcs: 42
Total # of Units: 38
# of Buildings: 4
Zoning: M-H
Elementary School District: Scottsdale Unified District
High School District: Scottsdale Unified District

Remarks Misc

Cross Street: Scottsdale Road & McKellips St.
Directions: North on Scottsdale road to Filmore Street, West on Filmore to McAllister Ave. North on McAllister to first driveway on right.

Status Change Info

Off Market Date: 2013-07-12
Under Contract Date: 2013-07-12
Close of Escrow Date: 2013-08-06

1 Bedroom Units

# 1 Bedroom Units: 16
Avg Rent: 660
Avg SqFt: 800
# Baths: Yes

More Information

2 Bedroom Units

# 2 Bedroom Units: 22
Avg Rent: 768
Avg SqFt: 1025
# Baths: 12

Income Expenses

Gross Annual Sch Inc: 329400
Net Operating Income: 254495.29

Sold Info

Loan Type: Carryback
Loan Years: 10
Payment Type: Adjustable
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $

Property Features

Project Type: 25 - 50 Units Construction: Wood Frame Const - Finish: Painted; Stucco Roofing: Tile; Foam Floors: Wood; Ceramic Tile Sale Includes: Land & Building; Personal Property; Pool Equipment Community Features: Pool; Barbecue Exterior Amenities: Landscape Water System; Green Landscaping; Curb(s) & Gutter(s); Satellite Dish; Cable TV Available; Sidewalk(s); Patio/Balcony; Separate Storage; Security Light(s) Interior Features: Unfurnished; Fire/Smoke Alarm(s); Vertical Blinds Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal Cooling: Electric; Individual Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: SW Gas Parking Features: >1 Space Per Unit; Assigned; Paved Road Surface Type: Asphalt Owner Pays: Water; Gas; Trash Collection; Landscaping; Pool Maintenance Tenant Pays: Electricity; Cable TV Source of Fincl Data: Owner Existing 1st Loan: Treat as Free&Clear Existing 1st Loan Type: Not Applicable Existing 1st Loan Terms: Not Applicable Existing 2nd Loan: Treat as Free&Clear Existing 2nd Loan Type: Not Applicable Existing 2nd Loan Terms: Not Applicable Existing 3rd Loan: Treat as Free&Clear Existing 3rd Loan Type: Not Applicable Existing 3rd Loan Terms: Not Applicable Existing Othr Ln Trm: Not Applicable New Financing: Conventional; Owner May Carry Environmental: None

Documents

Offer Shell ›

Listing Office: RE/MAX Excalibur

Last Updated: July - 06 - 2022