534 E Huntington Drive, Tempe, AZ 85282 - MLS #6360352

images$5,700,000 images******** Beds

images******** Bath images1967

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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.

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 Features: 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
Road Surface Type: Asphalt
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 Loan Type: Not Applicable
Existing 1st Loan Terms: Not Applicable
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Loan Type: Not Applicable
Existing 2nd Loan Terms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Loan Type: Not Applicable
Existing 3rd Loan Terms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional
Environmental: None
Contract Info
Current Price: $5,700,000
Sold Price: $5,700,000
Status: Closed
List Date: 2022-02-25
Ownership: Fee Simple
Location Tax Legal
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
Lot Size Dimensions: irr
Year Built: 1967
Uncvrd Parking Spcs: 20
Total # of Units: 20
# of Buildings: 1
Zoning: Multi
Elementary School District: Tempe Elementary School District
High School District: Tempe Union High School District
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
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
Sold Info
Loan Type: Conventional
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: %
Seller Concession $/%: %