1320-1312 W 5TH Street, Tempe, AZ 85281
$1,095,000
Property Type:
Multiple Dwellings
Status:
Pending
Current Price:
$1,095,000
Last Modified:
5/07/2025
Description
Prime location just blocks from Hayden-Ferry Landing, Mill/ASU, and a few minutes to Old
Town Scottsdale. In an OZ. Hard to find & bigger than the competition all 2 bedroom unit mix (822sf/unit). Stabilized at a 6 CAP. Long-term, local owners have pride of ownership. Many recent renovations to some units including plumbing, kitchens/baths, windows, roof, etc. Classic features to value-add further. Excellent rents in place with mostly flexible month-to-month leases. The complex offers more amenities than the competition, including carport parking, fenced front yards with private back patios, individual laundry/storage rooms, gorgeous desert landscaping, and a pretty central courtyard. More like homes than apartments. The kind of investment you're proud to own.
More Information MLS# 6830355
Contract Info
Current Price: $1,095,000
List Price: $1,095,000
Status: Pending
List Date: 2025-03-03
Ownership: Fee Simple
Location Tax Legal
House Number: 1320-1312
Compass: W
Street Name: 5TH
St Suffix: Street
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 2895
Country: US
County Code: Maricopa
Subdivision: JO-ELLEN HOMES
Assessor Number: 124-28-034
Tax Year: 2024
General Property Description
Lot Size Dimensions: .384 acres
Year Built: 1961
Uncvrd Parking Spcs: 4
Total # of Units: 4
# of Buildings: 2
Zoning: R-2
High School District: Tempe Union High School District
Remarks Misc
Cross Street: Priest and Rio Salado
Directions: 202 to Priest to 5th.
Geo Lat: 33.42577
Geo Lon: -111.960085
Status Change Info
Status Change Date: 2025-05-07
Off Market Date: 2025-05-07
Under Contract Date: 2025-04-26
Legal Info
Township: 1N
Range: 4E
Section: 16
Lot Number: 11
Income Expenses
Gross Annual Sch Inc: 81600
Net Operating Income: 66358
Showing Notification Methods
Showing Service: No Showing Service Used
2 Bedroom Units
# 2 Bedroom Units: 4
Avg Rent: 1700
Avg SqFt: 822
# Baths: 1
Property Features
Project Type: Four Plex
Other Type: Packaged Offering
Construction: Block
Const - Finish: Painted
Roofing: Composition
Floors: Ceramic Tile; Other
Sale Includes: Land & Building; Laundry Equipment; Other (See Remarks)
Payment Includes: Principal; Interest
Community Features: No Pool; Other; See Remarks
Exterior Amenities: Landscape Wtr System; Desert Landscaping; Fenced; Partially Fenced; RV/Boat Parking; Cable TV Available; Patio/Balcony; Security Light(s); Other (See Remarks)
Interior Amenities: Unfurnished; Fire/Smoke Alarm(s); Mini Blinds; Drapes; Other (See Remarks)
Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Washer/Dryer; Other
Heating: Heat Pump
Cooling: Electric; Heat Pump
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: None
Parking Features: Carport; 1 Space/Unit; Add'l Parking Avail; RV Access/Parking; Free
Owner Pays: Water; Landscaping
Tenant Pays: Electricity
Source of Fincl Data: Owner; Other (See Remarks)
Showing Notification Methods: Text
Lockbox Type: See Private Remarks
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
Environmental: None
Listing Office: Better Homes & Gardens Real Estate SJ Fowler
Last Updated: May - 07 - 2025
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