604 S Roosevelt Street, Tempe, AZ 85281 (MLS# 6993853)

604 S Roosevelt Street, Tempe, AZ 85281

$1,795,000

Property Type: Multiple Dwellings Status: Active

Current Price: $1,795,000 Last Modified: 3/05/2026

Description

Located just steps from one of the Valley's busiest commuter routes and adjacent to the vibrant campus of Arizona State University, Roosevelt Place (''the Property'') offers a differentiated multifamily opportunity highlighted by its refreshed exterior and high-end interior upgrades. Delivered in 1955, the asset is ideally situated to capture sustained demand generated by ASU's sizable student enrollment, along with the growing concentration of young professionals driving momentum in North Tempe and around Tempe Town Lake, each within a short one-mile distance. The scarcity of comparable boutique, garden-style communities in a submarket experiencing layered growth dynamics positions Roosevelt Place as a highly attractive acquisition prospect.

More Information MLS# 6993853

Contract Info

Ownership: Fee Simple Current Price: $1,795,000 List Price: $1,795,000 Status: Active List Date: 2026-03-05

Location, Tax & Legal

Assessor's Map #: 34 Assessor's Parcel #: 9 Assessor Parcel Ltr: B Add'l Parcels: No Tax Municipality: Maricopa - COUNTY Taxes: 3089 Legal: STATE PLAT 12 AMD LOT 23E S 90ft OF N 240ft OF E 175ft .36 AC Marketing Name: Roosevelt Place House Number: 604 Compass: S Street Name: Roosevelt St Suffix: Street City/Town Code: Tempe State/Province: AZ Zip Code: 85281 County Code: Maricopa Assessor Number: 124-34-009-B Tax Year: 2025

General Property Description

# of Buildings: 1 Uncvrd Parking Spcs: 7 Lot Size Dimensions: 15,682 sq ft. Total # of Units: 9 Year Built: 1955 Zoning: R-3

Project Type

5 - 12 Units: 1

Construction

Block: 1

Const - Finish

Painted: 1

Roofing

Foam: 1

Floors

Vinyl: 1

Sale Includes

Land & Building: 1

Income & Expenses

Annual Elec Exp: 6099 Annual Ins Exp: 3500 Annual Landscape Exp: 1763 Annual Legal & Acctg: 350 Annual Maint Exp: 11514 Annual Mgmt Exp: 6271 Owner Association: No Annual Ownr Asoc Fee: 0 Annual Rplcmnt Rsrvs: 2700 Annual Other Expense: 4175 Operating Exp: 39461 Other Income: 8565 Vacancy Allowance: 0.05 Adjusted Gross Inc: 126229.35

Pmt & Rate Info

Cap Rate: 4.78 Equity: 1795000 Down Payment %: 0 Monthly Payments: 0 Total Owed: 0

Showing Notification Methods

Showing Service: No Showing Service Used

Lockbox Type

None: 1

Community Features

No Pool: 1

Heating

Electric: 1

Cooling

Electric: 1

Tenant Pays

Water: 1 Sewer: 1

Appliances Included

Built-In Electric Oven: 1 Dishwasher: 1 Refrigerator: 1 Washer/Dryer: 1

Road Surface Type

Asphalt: 1

Source of Fincl Data

Owner: 1 Projected Proforma: 1

Water Source

Master Meter: 1

Sewer

Sewer - Public: 1

Parking Features

>1 Space Per Unit: 1

Electric

SRP: 1

Gas

None: 1

Owner Pays

Electric: 1 Landscaping: 1

New Financing

Cash: 1 Conventional: 1 No Carry: 1 1031 Exchange: 1

Reports/Disclosures

None: 1

Environmental

None: 1

Efficiency Units

Avg Rent: 0

1 Bedroom Units

# 1 Bedroom Units: 9 Avg Rent: 1151 Avg SqFt: 465 # Baths: 9

2 Bedroom Units

Avg Rent: 0

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Remarks Misc

Geo Lat: 33.423766 Geo Lon: -111.947653

Legal Info

Lot Number: 23E

Income Expenses

Gross Annual Sch Inc: 124308 Net Operating Income: 85799

Property Features

Project Type: 5 - 12 Units Construction: Block Const - Finish: Painted Roofing: Foam Floors: Vinyl Sale Includes: Land & Building Community Features: No Pool Appliances Included: Built-In Electric Oven; Refrigerator; Dishwasher; Washer/Dryer Cooling: Electric Water Source: Master Meter Sewer: Sewer - Public Electric: SRP Gas: None Parking Features: >1 Space Per Unit Road Surface Type: Asphalt Owner Pays: Electric; Landscaping Tenant Pays: Water; Sewer Source of Fincl Data: Owner; Projected Proforma Lockbox Type: None New Financing: Cash; Conventional; No Carry; 1031 Exchange Environmental: None

Listing Office: Marcus & Millichap

Last Updated: March - 05 - 2026