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

IDX
Listing Office: RE/MAX Excalibur
Last Updated: July - 06 - 2022
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