534 E Huntington Drive, Tempe, AZ 85282
$5,700,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$5,700,000
Last Modified:
2/25/2022
Description
Life is a beach at Twenty on Huntington! This amazing investment in the heart of Tempe with no HOA. Private pool all units have covered parking and ends in cul-de-sac. 542 E Huntington included in sale a total of 34,480 sq feet for both parcels. Incredible unit mix 16 two bedrooms and 4 ones beds. This property is being sold as is and seller is open to offers before renovation is complete. New rents on units are 1550 to 1600 plus tax on 2 bedrooms one bath units. One bedroom units new rents are $1450 plus tax. Current seller broker is process of renting out and remodeling process and stabilizing property. Drive by only tenants are unware of sale. Owner agent. All facts and figures are approximate buyer verify MLS information.
More Information MLS# 6360352
Contract Info
Ownership: Fee Simple
Current Price: $5,700,000
Sold Price: $5,700,000
Status: Closed
List Date: 2022-02-25
Location, Tax & Legal
Assessor's Map #: 28
Assessor's Parcel #: 69
Add'l Parcels: Yes
Tax Municipality: Tempe
Taxes: 9701
Legal: BRENTWOOD MANOR 2
Marketing Name: Twenty at Huntington
Map Code/Grid: R37
House Number: 534
Compass: E
Street Name: Huntington
St Suffix: Drive
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85282
County Code: Maricopa
Assessor Number: 133-28-069
Tax Year: 2020
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 20
Lot Size Dimensions: irr
Total # of Units: 20
Elementary School District: Tempe Elementary School District
High School District: Tempe Union High School District
Year Built: 1967
Zoning: Multi
Project Type
13 - 24 Units: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Other: 1
Floors
Vinyl: 1
Carpet: 1
Sale Includes
Land & Building: 1
Personal Property: 1
Income & Expenses
Annual Elec Exp: 1500
Annual Gas Exp: 0
Annual Ins Exp: 12000
Annual Land Lse Exp: 0
Annual Landscape Exp: 2500
Annual Legal & Acctg: 0
Annual Maint Exp: 10000
Annual Mgmt Exp: 14000
Annual Trash Exp: 8000
Annual Wtr/Swr Exp: 10000
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Operating Exp: 67701
Other Income: 3000
Vacancy Allowance: 0.03
Adjusted Gross Inc: 359094
Totl Mnth Rntal Inc: 30600
Pmt & Rate Info
Cap Rate: 4.94
Down Payment: 0
Equity: 5900000
Down Payment %: 0
Monthly Payments: 0
1st Payment: 0
Total Owed: 0
Assessment Balance: 0
Lockbox Type
None: 1
Community Features
Pool: 1
Spa(s): 1
Heating
Electric: 1
Cooling
Electric: 1
Interior Amenities
Unfurnished: 1
Tenant Pays
Electricity: 1
Cable TV: 1
Appliances Included
Free-Standing Range: 1
Refrigerator: 1
Disposal: 1
Washer/Dryer: 1
Roads/Streets
Asphalt: 1
Source of Fincl Data
Projected Proforma: 1
Water Source
City Franchise: 1
Sewer
Sewer-In & Connected: 1
Parking Features
Other: 1
Electric
SRP: 1
Gas
SW Gas: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
Pool Maintenance: 1
New Financing
Conventional: 1
Special
Owner/Agent: 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
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 4
Avg Rent: 1450
Avg SqFt: 650
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 16
Avg Rent: 1550
Avg SqFt: 900
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Conventional
Closing Cost Split: Normal - N
Payment Type: Fixed
Buyer Concession to Seller: 0
Buyer Concession $/%: %
Seller Concession to Buyer: 0
Seller Concession $/%: %
Remarks Misc
Cross Street: Southern and Rural
Geo Lat: 33.394098
Geo Lon: -111.92986
Status Change Info
Off Market Date: 2022-02-25
Under Contract Date: 2022-02-25
Close of Escrow Date: 2022-02-25
Sold Price: $5,700,000
Legal Info
Lot Number: 104
Income Expenses
Gross Annual Sch Inc: 367200
Net Operating Income: 291393
Property Features
Project Type: 13 - 24 Units
Construction: Block
Const - Finish: Painted
Roofing: Other
Floors: Vinyl; Carpet
Sale Includes: Land & Building; Personal Property
Community Features: Pool; Spa(s)
Interior Amenities: Unfurnished
Appliances Included: Free-Standing Range; Refrigerator; Disposal; Washer/Dryer
Cooling: Electric
Water Source: City Franchise
Sewer: Sewer-In & Connected
Electric: SRP
Gas: SW Gas
Parking Features: Other
Owner Pays: Water; Trash Collection; Landscaping; Pool Maintenance
Tenant Pays: Electricity; Cable TV
Source of Fincl Data: Projected Proforma
Special: Owner/Agent
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
Environmental: None
Listing Office: Grace CRE
Last Updated: February - 25 - 2022
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