1106 E WEBER Drive, 1033, Tempe, AZ 85288 (MLS# 5954603)

1106 E WEBER Drive, 1033, Tempe, AZ 85288

$7,450,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $7,450,000 Last Modified: 7/06/2022

Description

Like the coveted town in Orange County, The Newport is created to be a lifestyle community combining the relaxed, connective vibe of the people with the modern, urban architecture found in coastal California. Upon arriving at The Newport, one will notice the clean-lined architectural design, replete with great articulation, varied materials including corrugated metal, cementitious wood, and smooth stucco that blend artistically to remind you that Tempe is a changin'. The interiors are an eclectic mix of mid-century modern that allow you an embracing and warm feel, or chic, minimalist modern California beach house. The community boasts SRP GoldStar rating for the highest in energy efficiency.

Supplements: The Newport features a portfolio of 17-single family detached fee-simple homes in an exclusive 38-home community located in a dynamic Tempe Town Lakes location that was built between 2015 and 2018. 16 of the 17 homes in the offering are fully furnished with designer finishes and include all living necessities for Airbnb and are on a master-lease at $3,050 per month thru 2022. The community consists of two and three-story residences that average over 1,700 square feet and include separate dens that could potentially be converted into a bedroom. Interior features include 9-foot ceilings, eat-in kitchens with Energy Star rated Kenmore stainless-steel appliances, spacious pantries, granite or quartz countertops with undermounted sinks and premium Kohler plumbing fixtures, custom cabinets, in-suite full-size washer/dryers. Units are also Cat5 Ethernet wired and include top-of-the-line lighting fixtures. Every residence has a private yard and large patio terrace. The community also features a sparkling resort-style pool and spa. Residents of The Newport can also enjoy the amenities at the North Tempe Multi-Generational Center, located directly across the street, for $25 for the year or a $1 per day. The ±30,000 square foot facility includes a fitness center, a business center/library, a gym with multiple basketball courts, community classrooms, preschool classrooms, a youth center, a teen center and a senior center.

More Information MLS# 5954603

Contract Info

Ownership: Fee Simple Current Price: $7,450,000 Sold Price: $7,450,000 Status: Closed List Date: 2019-07-18

Location, Tax & Legal

Unit #: 1033 Assessor's Map #: 10 Legal Description (Abbrev): LOT 2 NEWPORT AT TEMPE MCR 118037 Assessor's Parcel #: 113 Add'l Parcels: Yes Tax Municipality: Maricopa - COUNTY Census Tract: 318400 Taxes: 57000 Legal: LOT 2 NEWPORT AT TEMPE MCR 118037 Marketing Name: The Newport Map Code/Grid: Q37 House Number: 1106 Compass: E Street Name: WEBER St Suffix: Drive City/Town Code: Tempe State/Province: AZ Zip Code: 85288 Zip4: 0919 County Code: Maricopa Subdivision: NEWPORT AT TEMPE Assessor Number: 132-10-113 Tax Year: 2018

General Property Description

# of Buildings: 17 Uncvrd Parking Spcs: 0 Lot Size Dimensions: 2.30 Total # of Units: 17 Elementary School District: Scottsdale Unified District High School District: Tempe Union High School District Year Built: 2017 Zoning: R1-Pad

Legal Info

Range: 4E Section: 11 Township: 1N Lot Number: 2

Project Type

13 - 24 Units: 1

Construction

Wood Frame: 1

Const - Finish

Painted: 1 Stucco: 1 Siding: 1

Roofing

Built-Up: 1

Floors

Ceramic Tile: 1 Carpet: 1

Sale Includes

Land & Building: 1

Income & Expenses

Annual Elec Exp: 0 Annual Gas Exp: 0 Annual Ins Exp: 0 Annual Land Lse Exp: 0 Annual Landscape Exp: 0 Annual Legal & Acctg: 0 Annual Maint Exp: 0 Annual Mgmt Exp: 0 Annual Trash Exp: 0 Annual Wtr/Swr Exp: 0 Owner Association: Yes Annual Ownr Asoc Fee: 0 Annual PAD Fee: 0 Annual Rplcmnt Rsrvs: 0 Annual Other Expense: 0 Operating Exp: 57000 Other Income: 0 Vacancy Allowance: 0 Adjusted Gross Inc: 616800

Pmt & Rate Info

Cap Rate: 6.42 Down Payment: 0 Equity: 7450000 Down Payment %: 0 Monthly Payments: 0 Total Owed: 0 Assessment Balance: 0

Showing Notification Methods

Email: 1

Lockbox Type

None: 1

Community Features

Pool: 1 Spa(s): 1 Clubhouse: 1 Exercise Room: 1 Game/Rec Room: 1 Sport Court: 1

Heating

Electric: 1 Individual: 1 ENERGY STAR Qualified Equipment: 1

Cooling

Ceiling Fan(s): 1 ENERGY STAR Qualified Equipment: 1 Central Air: 1 Electric: 1 Individual: 1

Exterior Amenities

Landscape Wtr System: 1 Patio/Balcony: 1

Interior Amenities

Furnished: 1 Fire/Smoke Alarm(s): 1 Fire Sprinklers: 1

Tenant Pays

Water: 1 Sewer: 1 Electricity: 1 Trash Collection: 1 Cable TV: 1

Appliances Included

Built-In Range: 1 Refrigerator: 1 Dishwasher: 1 Disposal: 1 Microwave: 1 Washer/Dryer: 1

Roads/Streets

Asphalt: 1

Source of Fincl Data

Owner: 1

Water Source

City Franchise: 1 Individual Meter: 1

Sewer

Sewer - Public: 1

Parking Features

Garage: 1 >1 Space Per Unit: 1 Attached: 1

Electric

SRP: 1 Individual Meter: 1

Gas

City Gas: 1

Owner Pays

Gas: 1 Landscaping: 1 Pool Maintenance: 1

New Financing

Conventional: 1 Other (See Remarks): 1

Existing 1st Loan

Treat as Free&Clear: 1

Existing 1st Ln Type

Not Applicable: 1

Existing 1st Ln Trms

Not Applicable: 1

Existing 2nd Loan

Treat as Free&Clear: 1

Existing 2nd Ln Type

Not Applicable: 1

Existing 2nd Ln Trms

Not Applicable: 1

Existing 3rd Loan

Treat as Free&Clear: 1

Existing 3rd Ln Type

Not Applicable: 1

Reports/Disclosures

None: 1

Existing 3rd Ln Trms

Not Applicable: 1

Environmental

None: 1

Existing Othr Ln Trm

Not Applicable: 1

Contact Info

List Agent Home Phn: 602-735-5634

Efficiency Units

Avg Rent: 0

1 Bedroom Units

Avg Rent: 0

2 Bedroom Units

# 2 Bedroom Units: 1 Avg Rent: 3050 Avg SqFt: 1702 # Baths: 4

3 Bedrooms Units

# 3 Bedroom Units: 16 Avg Rent: 3050 Avg SqFt: 1737 # Baths: 4

4 Bedrooms Units

Avg Rent: 0

Sold Info

Loan Type: Cash Closing Cost Split: Normal - N Payment Type: Other Buyer Concession to Seller: 0 Buyer Concession $/%: % Seller Concession to Buyer: 0 Seller Concession $/%: %

Remarks Misc

Geo Lat: 33.445722 Geo Lon: -111.921906

Status Change Info

Off Market Date: 2019-09-23 Under Contract Date: 2019-09-20 Close of Escrow Date: 2019-12-31 Sold Price: $7,450,000

Income Expenses

Gross Annual Sch Inc: 616800 Net Operating Income: 478256

Property Features

Project Type: 13 - 24 Units Construction: Wood Frame Const - Finish: Painted; Stucco; Siding Roofing: Built-Up Floors: Ceramic Tile; Carpet Sale Includes: Land & Building Community Features: Pool; Spa(s); Clubhouse; Exercise Room; Game/Rec Room; Sport Court Exterior Amenities: Landscape Wtr System; Patio/Balcony Interior Amenities: Furnished; Fire/Smoke Alarm(s); Fire Sprinklers Appliances Included: Built-In Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer Heating: Individual; ENERGY STAR Qualified Equipment Cooling: Ceiling Fan(s); Electric; Individual; Central Air; ENERGY STAR Qualified Equipment Water Source: City Franchise; Individual Meter Sewer: Sewer - Public Electric: SRP; Individual Meter Gas: City Gas Parking Features: Garage; >1 Space Per Unit; Attached Owner Pays: Gas; Landscaping; Pool Maintenance Tenant Pays: Water; Sewer; Electricity; Trash Collection; Cable TV Source of Fincl Data: Owner Showing Notification Methods: Email Lockbox Type: None Existing 1st Loan: Treat as Free&Clear Existing 1st Ln Type: Not Applicable Existing 1st Ln Trms: Not Applicable Existing 2nd Loan: Treat as Free&Clear Existing 2nd Ln Type: Not Applicable Existing 2nd Ln Trms: Not Applicable Existing 3rd Loan: Treat as Free&Clear Existing 3rd Ln Type: Not Applicable Existing 3rd Ln Trms: Not Applicable Existing Othr Ln Trm: Not Applicable New Financing: Conventional; Other (See Remarks) Environmental: None
Listing Office: CBRE, Inc
Last Updated: July - 06 - 2022
1106 E WEBER Drive, 1033, Tempe, AZ 85288- MLS# 5954603
Copyright 2025 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.