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405 S PRIEST Drive Tempe, AZ 85281
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Key Details
Sold Price $1,810,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 6627699
Sold Date 03/25/24
Maintenance Fees $3,500
Year Built 1961
Annual Tax Amount $5,289
Tax Year 2022
Lot Dimensions Rectangular
Source Arizona Regional Multiple Listing Service (ARMLS)
Property Description
Seller financing available! This well-maintained, value-add 10-unit property consists of three contiguous parcels, two addressed 405 S Priest Dr (APNs 124-28-031-C and 124-28-031-B) as well as 1325 W 4th St (APN 124-28-030), offering multiple exit strategies for a buyer. Electric has been redone and plumbing lines have been partially redone since current ownership. The property features a healthy unit mix of (8) one-bed / one-bath units and (2) two-bed / one-bath units. On-site parking is available for the tenants. There is a small courtyard area between the 4-plexes and a sizable backyard behind the duplex. All leases are month-to-month or ending soon, so great opportunity for immediate value-add in both interior and exterior renovations. Less than two miles from downtown Tempe and ASU.
Location
State AZ
County Maricopa
Zoning MF
Direction Loop 202 freeway to Priest Dr exit, heading southward. Property on SE corner of 4th St & Priest Dr. Also included is 1325 W 4th St.
Interior
Heating Electric
Cooling Electric
Flooring Vinyl
Appliance Free-Standing Range, Refrigerator
Exterior
Parking Features 1 Space/Unit, On Street
Community Features No Pool
Roof Type Composition
Total Parking Spaces 12
Building
Sewer Public Sewer
Water City Franchise
New Construction No
Schools
School District Tempe Union High School District
Others
Senior Community No
Tax ID 124-28-031-C
Acceptable Financing Owner May Carry, Conventional, 1031 Exchange
Listing Terms Owner May Carry, Conventional, 1031 Exchange
Financing Other
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Bought with ABI Multifamily