1424 S STANLEY Place, Tempe, AZ 85281
$775,000
Property Type:
Multiple Dwellings
Status:
Active
Current Price:
$775,000
Last Modified:
5/21/2025
Description
Prime dirt location on the doorstep to ASU, the 5th largest university in the US. Sought after four unit complex. All 1 bedroom unit mix with $1299 rents & a 7/28/2025 lease exp. Located in an opportunity zone with 1000's of new units in process. High 6 CAP +/-. Student housing. Very low expenses w/ separate, tenant-paid electric/gas. Twin adjacent property is 1428 S Stanley (MLS 6855518). Sold together as eight units or buy the full package of 15 units (see MLS 6851166). Value-add. Long-term, local-owner that has self-managed. Seller financing may be available, but buyer to put large down into the deal. Expenses are actual & estimated. Water meter shared with 1428 S Stanley.
More Information MLS# 6855520
Contract Info
Current Price: $775,000
List Price: $775,000
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: 5828
Country: US
County Code: Maricopa
Subdivision: STANLEY PLAT
Assessor Number: 133-09-066
Tax Year: 2024
General Property Description
Lot Size Dimensions: 7500 sf
Year Built: 1960
Uncvrd Parking Spcs: 4
Total # of Units: 4
# of Buildings: 1
Zoning: R-4
Flood Zone: No
High School District: Tempe Union High School District
Remarks Misc
Cross Street: Rural/Apache
Directions: Cul-de-sac, enter from Apache.
Geo Lat: 33.411831
Geo Lon: -111.919724
Status Change Info
Status Change Date: 2025-04-22
Legal Info
Township: 1N
Range: 4E
Section: 23
Lot Number: 16
Income Expenses
Gross Annual Sch Inc: 63028
Net Operating Income: 52250
Showing Notification Methods
Showing Service: No Showing Service Used
1 Bedroom Units
# 1 Bedroom Units: 4
Avg Rent: 1299
Avg SqFt: 525
# Baths: 1
Property Features
Project Type: Four Plex
Other Type: Packaged Offering; Other (See Remarks)
Construction: Block
Const - Finish: Painted
Roofing: Composition
Floors: Vinyl; Carpet
Sale Includes: Land & Building; Personal Property
Community Features: No Pool
Exterior Amenities: Green Landscaping; Partially Fenced
Interior Amenities: Unfurnished
Appliances Included: Free-Standing Range; Refrigerator
Heating: Window/Wall Unit(s)
Cooling: Window/Wall Unit
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP; Individual Meter
Gas: SW Gas; Individual Meter
Parking Features: 1 Space/Unit
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity; Gas
Source of Fincl Data: Owner; Projected Proforma; Other (See Remarks)
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
Existing 1st Ln Type: Fixed
Existing 1st Ln Trms: Non Assumable
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
Environmental: None
Listing Office: Better Homes & Gardens Real Estate SJ Fowler
Last Updated: May - 21 - 2025
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