2309 S COLLEGE Avenue, Tempe, AZ 85282
$4,100,000
Property Type:
Multiple Dwellings
Status:
Active
Current Price:
$4,100,000
Last Modified:
9/09/2025
Description
Located in the heart of
Tempe, this 18-unit
apartment complex
presents a turnkey
investment opportunity in
a high-demand market.
Situated just minutes from
Arizona State University,
downtown Tempe, major
freeways, and public
transit, this property's
prime location attracts a
steady stream of tenants
for consistent rental
income in a thriving
metropolitan area.
More Information MLS# 6799565
Contract Info
Ownership: Fee Simple
Current Price: $4,100,000
List Price: $4,100,000
Status: Active
List Date: 2025-01-02
Location, Tax & Legal
Assessor's Map #: 26
Legal Description (Abbrev): LOT 17 BROADMOR MANOR 4 MCR 008444
Assessor's Parcel #: 18
Add'l Parcels: Yes
Tax Municipality: Tempe
Census Tract: 319600
Taxes: 6348
Legal: LOT 17 BROADMOR MANOR 4 MCR 008444
Marketing Name: Tempe Cottages
House Number: 2309
Compass: S
Street Name: COLLEGE
St Suffix: Avenue
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85282
Zip4: 2356
County Code: Maricopa
Subdivision: BROADMOR MANOR 4
Assessor Number: 133-26-018
Tax Year: 2024
General Property Description
# of Buildings: 3
Uncvrd Parking Spcs: 10
Lot Size Dimensions: 230.88 x 123.20
Total # of Units: 18
High School District: Tempe Union High School District
High School: Tempe High School
Year Built: 1963
Zoning: Multi Family
Legal Info
Range: 4E
Section: 27
Township: 1N
Lot Number: 17
Project Type
13 - 24 Units: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Concrete: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 580
Annual Gas Exp: 0
Annual Ins Exp: 8000
Annual Land Lse Exp: 0
Annual Landscape Exp: 4800
Annual Legal & Acctg: 0
Annual Maint Exp: 16800
Annual Mgmt Exp: 15192
Annual Trash Exp: 1000
Annual Wtr/Swr Exp: 12000
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 1200
Operating Exp: 65920
Other Income: 0
Vacancy Allowance: 0.03
Adjusted Gross Inc: 293.91
Totl Mnth Rntal Inc: 19260
Pmt & Rate Info
Cap Rate: 0.01
Down Payment: 0
Equity: 4690000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Showing Notification Methods
Showing Service: Aligned Showings
Text: 1
Email: 1
Phone Call: 1
Lockbox Type
None: 1
Community Features
No Pool: 1
Barbecue: 1
Heating
Individual: 1
Heat Pump: 1
Cooling
Heat Pump: 1
Exterior Amenities
Green Landscaping: 1
Desert Landscaping: 1
Interior Amenities
Unfurnished: 1
Partially Furnished: 1
Fire/Smoke Alarm(s): 1
Tenant Pays
Electricity: 1
Cable TV: 1
Appliances Included
Free-Standing Range: 1
Refrigerator: 1
Dishwasher: 1
Washer/Dryer: 1
Roads/Streets
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Carport: 1
Add'l Parking Avail: 1
Electric
SRP: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
New Financing
Cash: 1
Conventional: 1
No Carry: 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
Seller Prop Disc Stm: 1
Existing 3rd Ln Trms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Contact Info
List Agent Home Phn: 6027109536
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 18
Avg Rent: 1595
Avg SqFt: 642
# Baths: 1
2 Bedroom Units
Avg Rent: 0
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Cross Street: Broadway & Mill
Directions: GPS
Geo Lat: 33.403326
Geo Lon: -111.934566
Income Expenses
Gross Annual Sch Inc: 303840
Net Operating Income: 237920
Property Features
Project Type: 13 - 24 Units
Construction: Block
Const - Finish: Painted
Roofing: Composition
Floors: Concrete
Sale Includes: Land & Building
Community Features: No Pool; Barbecue
Exterior Amenities: Green Landscaping; Desert Landscaping
Interior Amenities: Unfurnished; Partially Furnished; Fire/Smoke Alarm(s)
Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Washer/Dryer
Heating: Individual; Heat Pump
Cooling: Heat Pump
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: None
Parking Features: Carport; Add'l Parking Avail
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity; Cable TV
Source of Fincl Data: Owner
Showing Notification Methods: Text; Email; Phone Call
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: Cash; Conventional; No Carry
Environmental: None
Listing Office: Denali Real Estate, LLC
Last Updated: September - 09 - 2025
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