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    902 & 903 S Mariana Street

    Tempe, AZ 85281
    • $1,390,000
    • STATUS: Active
    • ON SITE: 31 days
    • MLS #: 6124825
    Price Reduced
    UPDATED: 77 min ago
    $1,390,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1959
    County:
    Area:

    School Ratings & Info

    School District:

    Description

    Welcome to Mariana Park Apartments.This is a portfolio of two 4 plexs. Located near ASU's Tempe campus, these fully occupied four-plexs are tucked away in a quiet cul-de-sac. Property features all block construction, covered parking, new windows (on some units), central A/C, coin-operated leased laundry equipment, and mature landscaping. All units are 1bed/1bath. The parcel adjoins 903 S Mariana St, which is also a 4 plex. Each parcel may be purchased separately; for $700,000 each or may be purchased as a portfolio for $1,400,000. Cap Rate on current rent estimated at 3.59%, with average rents of $829. ProForma Cap Rate estimated at 5.15%, based on market rents of $1050 per unit. 2 of the units have been recently remodeled, other units have updates and granite counters.Buyer to verify all MLS information, as facts and figures are approximate. Do Not Disturb Tenants. Drive-by only.

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    © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. The ARMLS logo indicates a property listed by a real estate brokerage other than Maison DeBlanc Real Estate. Data last updated 2020-09-30T21:12:41.323.
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    902 & 903 S Mariana Street Tempe, AZ 85281

    • Price: $1,390,000
    • Status: Active
    • Updated: 77 min ago
    • MLS #: 6124825
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    1959
    Built
    Neighborhood:
    Mariana Park I
    County:
    Maricopa
    Area:
    Tempe
    School District:
    003 - Tempe School District
    Property Description
    Welcome to Mariana Park Apartments.This is a portfolio of two 4 plexs. Located near ASU's Tempe campus, these fully occupied four-plexs are tucked away in a quiet cul-de-sac. Property features all block construction, covered parking, new windows (on some units), central A/C, coin-operated leased laundry equipment, and mature landscaping. All units are 1bed/1bath. The parcel adjoins 903 S Mariana St, which is also a 4 plex. Each parcel may be purchased separately; for $700,000 each or may be purchased as a portfolio for $1,400,000. Cap Rate on current rent estimated at 3.59%, with average rents of $829. ProForma Cap Rate estimated at 5.15%, based on market rents of $1050 per unit. 2 of the units have been recently remodeled, other units have updates and granite counters.Buyer to verify all MLS information, as facts and figures are approximate. Do Not Disturb Tenants. Drive-by only.
    Exterior Features

    Construction Block Construction Finish Painted Covered Parking Spaces 4.00 Exterior Amenities Green LandscapingLandscape Wtr System Lot Size Dimensions 8228 Sqft Parking 1 Space/UnitCarport Roads Asphalt Roofing Rolled

    Interior Features

    1 Bedroom Unit Avg Sq Ft 480 1 Bedroom Unit Baths 1 2 Bedroom Unit Avg Sq Ft 0 2 Bedroom Units Baths 0 3 Bedroom Unit Avg Sq Ft 0 3 Bedroom Unit Baths 0 4 Bedroom Unit Avg Sq Ft 0 4 Bedroom Unit Baths 0 Appliances Included F/S Oven/RangeRefrigerator Cooling Central A/CElectric RefrigeratdIndividual Efficiency Unit Avg Sq Ft 0 Efficiency Unit Baths 0 Floors Ceramic TileVinyl/Composition Heating Gas Interior Amenities Unfurnished

    Property Features

    1 Bedroom Unit Avg Rent 1050.00 1 Bedroom Units 4 2 Bedroom Unit Avg Rent 0.00 2 Bedroom Units 0 3 Bedroom Unit Avg Rent 0.00 3 Bedroom Units 0 4 Bedroom Unit Avg Rent 0.00 4 Bedroom Units 0 Adjusted Gross Inc 97660.00 Annual Elec Exp 1000.00 Annual Ins Exp 2800.00 Annual Land Lse Exp 0.00 Annual Landscape Exp 2400.00 Annual Legal And Acctg 0.00 Annual Maint Exp 6000.00 Annual Mgmt Exp 5040.00 Annual Other Expense 0.00 Annual Ownr Asoc Fee 0.00 Annual Pad Fee 0.00 Annual Rplcmnt Rsrvs 0.00 Annual Trash Exp 3000.00 Annual Wtr Swr Exp 3000.00 Community Amenities No Pool Cross Street University & Dorsey Efficiency Unit Avg Rent 0.00 Efficiency Units 0 Electric ApsIndividual Meter Gas Individual MeterSw Gas Gross Annual Sch Inc 100800.00 Hoa YN No Net Operating Income 72058.00 New Financing 1031 ExchangeConventionalFhaNo Carry Operating Exp 25702.00 Other Income 2000.00 Owner Pays LandscapingSewerTrash CollectionWater Project Type 5 - 12 UnitsFour Plex Sale Includes Land & BuildingPersonal Property Sewer Sewer - Public Source Of Financial Data Projected ProformaProvided By Owner Tax Municipality Tempe Taxes 2462.00 Tenant Pays Cable TvElectricGas Totl Mnth Rntal Inc 8400.00 Vacancy Allowance 0.05 Water City Franchise Zoning R-3

    Listing courtesy of Grace Cre.


    © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. The ARMLS logo indicates a property listed by a real estate brokerage other than Maison DeBlanc Real Estate. Data last updated 2020-09-30T21:12:41.323.
     
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