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1150 E ORANGE Street Tempe, AZ 85281
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Key Details
Sold Price $1,855,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 6166813
Sold Date 05/12/21
Maintenance Fees $4,500
Originating Board Arizona Regional Multiple Listing Service (ARMLS)
Year Built 1962
Annual Tax Amount $4,883
Tax Year 2020
Lot Dimensions IRR
Property Description
Welcome to Seven on Orange Townhomes in the heart of Tempe. This property features a total of six large one bedroom one bath townhomes and one 2 bedroom one bath townhome. Property has a newer roof and central air conditioners. Current seller is replacing the main sewer lines to the main, repaving parking lot, new paint, adding separate yards to all the units with new fencing within the next 30 days. Three of the units have been updated and four are in original condition. Current on site laundry is leased but not on a current lease. All tenants have been given notice of 30 days to start raising the current rental rates. Rents were way below market at 700-850. Proforma rents once value add in place 1,150-1,250 for the ones and two bedroom 1,350-1,450. All facts and figures are approximate buyer to verify MLS information
Location
State AZ
County Maricopa
Zoning R-4
Direction University to Rural, S. on Rural to Terrace, E. on Terrace to Orange, E. to property.
Interior
Flooring Carpet, Ceramic Tile, Vinyl, Wood, Concrete
Appliance FS OvenRange, WD Hookup, Microwave, BI OvenRange
Exterior
Parking Features Paved Parking, Free, 1 Space/Unit, <1 Space Per Unit, Street Parking, Common
Community Features Barbecue, No Pool
Roof Type Built-Up
Total Parking Spaces 14
Building
Sewer Public Sewer
Water City Franchise, Private Franchise
New Construction No
Others
Senior Community No
Tax ID 132-73-063-B
Acceptable Financing No Carry, CTL, Conventional, 1031 Exchange
Listing Terms No Carry, CTL, Conventional, 1031 Exchange
Financing Cash
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Bought with My Home Group Real Estate