1424 S STANLEY Place, Tempe, AZ 85281
$3,500,000
Property Type:
Multiple Dwellings
Status:
Active
Current Price:
$3,500,000
Last Modified:
5/19/2025
Description
This ''ASU OZ 15'' is located in an ''A'' location on the doorstep to ASU, the 5th largest U in the US. 6.5 CAP w/ current rents. R-4. Opportunity Zone. Lots: 32,500 sf (up to 40,000 sf). Value-add. Package includes: 1424, 1428, 1432, 1440 & 1446 S Stanley Pl. All 1 bed units are 506-525 sf , except 1432 (2450 sf 5 bed house). 9759 total sf. Assemblage price-$3,500,000. Or sold individually: 1424 & 1428 S Stanley: 4's. $800,000/4 or $1,600,000. $1299/unit rents. 1432 S Stanley: $700,000. Huge 2450 sf 5 bed house w/ pool. $700,000. $4,000 rent. Separately owned sf at 1436. Then 1440, 1442, 1444, 1446 A, B, C Stanley: 6 unit. $1,200,000. 5 of 6 rents $1398, other $1299. All leases exp 7/28/25. Tenant-paid electric, gas. W/S owner. Seller financing possible. Rent roll attached.
More Information MLS# 6851166
Contract Info
Current Price: $3,500,000
List Price: $3,500,000
Status: Active
List Date: 2025-04-11
Ownership: Fee Simple
Location Tax Legal
House Number: 1424
Compass: S
Street Name: STANLEY
St Suffix: Place
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 5827
Country: US
County Code: Maricopa
Subdivision: STANLEY PLAT
Assessor Number: 133-09-064
Tax Year: 2024
General Property Description
Lot Size Dimensions: 32,500
Year Built: 1960
Uncvrd Parking Spcs: 15
Total # of Units: 15
# of Buildings: 5
Zoning: Multi
Flood Zone: No
High School District: Tempe Union High School District
Remarks Misc
Cross Street: Rural/Apache
Directions: On a dead end street. Rural to Spence to Stanley.
Geo Lat: 33.411831
Geo Lon: -111.919724
Status Change Info
Status Change Date: 2025-04-14
Legal Info
Township: 1N
Range: 4E
Section: 23
Lot Number: 14
Income Expenses
Gross Annual Sch Inc: 272000
Net Operating Income: 228950
Showing Notification Methods
Showing Service: No Showing Service Used
1 Bedroom Units
# 1 Bedroom Units: 14
Avg Rent: 1312
Avg SqFt: 525
# Baths: 1
4 Bedrooms Units
# 4 Bedroom Units: 1
Avg Rent: 4000
Avg SqFt: 2450
# Baths: 2
Property Features
Project Type: 13 - 24 Units
Other Type: Packaged Offering
Construction: Block
Const - Finish: Painted
Roofing: Composition; Other
Floors: Concrete; Vinyl; Ceramic Tile; Carpet
Sale Includes: Personal Property; Other (See Remarks)
Community Features: Pool; Barbecue; Other; See Remarks
Exterior Amenities: Desert Landscaping; Partially Fenced; Cable TV Available; Patio/Balcony; Security Light(s); Other (See Remarks)
Interior Amenities: Unfurnished; Other (See Remarks)
Appliances Included: Built-In Range; Free-Standing Range; Refrigerator
Heating: Window/Wall Unit(s); Other; See Remarks
Cooling: Electric; Window/Wall Unit
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP; Individual Meter
Gas: SW Gas; Individual Meter
Parking Features: 1 Space/Unit; Paved
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity; Gas; Cable TV
Source of Fincl Data: Owner; Projected Proforma; Other (See Remarks)
Showing Notification Methods: Email
Lockbox Type: None
Existing 1st Loan: Conventional
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; Owner May Carry; 1031 Exchange; Other (See Remarks)
Environmental: None
Listing Office: Better Homes & Gardens Real Estate SJ Fowler
Last Updated: May - 19 - 2025
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