$650,000
$660,000
1.5%For more information regarding the value of a property, please contact us for a free consultation.
903 S MARIANA Street Tempe, AZ 85281
Key Details
Sold Price $650,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Mariana Park I
MLS Listing ID 6124806
Sold Date 03/15/21
Maintenance Fees $3,000
Originating Board Arizona Regional Multiple Listing Service (ARMLS)
Year Built 1959
Annual Tax Amount $1,246
Tax Year 2019
Lot Dimensions 10,053 sqft
Property Description
Welcome to Mariana Park Apartments. Located near ASU's Tempe campus, this fully occupied four-plex is tucked away in a quiet cul-de-sac. Property features all block construction, covered parking, new windows (on some units), central A/C, coin-operated leased laundry equipment, and mature landscaping. All units are 1bed/1bath. The parcel adjoins 902 S Mariana St, which is also a 4-plex for sale at $660,000 (MLS #6124320). Each parcel may be purchased separately; or may be purchased as a portfolio for $1,320,000 million (MLS #6124825) Cap Rate on current rent estimated at 4%,cap with average rents of $829. ProForma Cap Rate estimated at 5.46 %, based on market rents of $1050 per unit. Property has a filled in pool that sits in a large court yard. Units have some updated units with granite counter tops and all tile floors. All facts and figures are approximate buyer verify MLS information. Drive by only tenants unaware of sale.
Location
State AZ
County Maricopa
Community Mariana Park I
Zoning R-3
Direction From University Dr, turn south (right) onto Dorsey Ln, then turn right (west) onto Orange St, then right (north) onto Mariana St. Continue to the end of cul-de-sac.
Interior
Flooring Ceramic Tile
Appliance FS OvenRange, Microwave, WasherDryer
Exterior
Parking Features 1 Space/Unit, Common
Community Features No Pool
Roof Type Rolled/Hot Mop
Total Parking Spaces 8
Building
Sewer Public Sewer
Water City Franchise
New Construction No
Schools
Elementary Schools Flora Thew Elementary School
Middle Schools Connolly Middle School
High Schools Mcclintock High School
School District Tempe Union High School District
Others
Senior Community No
Tax ID 132-73-150
Acceptable Financing Conventional, 1031 Exchange, FHA, VA Loan
Listing Terms Conventional, 1031 Exchange, FHA, VA Loan
Financing Conventional
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Bought with Keller Williams Realty Phoenix