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    903 S Mariana Street

    Tempe, AZ 85281
    • $695,000
    • STATUS: Active
    • ON SITE: 30 days
    • MLS #: 6124806
    Price Reduced
    $695,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1959
    County:
    Area:

    School Information

    Elementary School:
    Middle School:
    High School:
    School District:

    Description

    Welcome to Mariana Park Apartments. Located near ASU's Tempe campus, this fully occupied four-plex is 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 902 S Mariana St, which is also a 4-plex for sale at $700,000 (MLS #6124320). Each parcel may be purchased separately; or may be purchased as a portfolio for $1.4 million (MLS #6124825) Cap Rate on current rent estimated at 3.59%, with average rents of $829. ProForma Cap Rate estimated at 5.08%, based on market rents of $1050 per unit.Property has a filled in pool that sits in a large court yard. Units have some updated units with granite counter tops and all tile floors. All facts and figures are approximate buyer verify MLS information. Drive by only tenants unaware of sale.

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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 2020-09-29T00:12:38.677.
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    903 S Mariana Street Tempe, AZ 85281

    • Price: $695,000
    • Status: Active
    • MLS #: 6124806
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    1959
    Built
    Neighborhood:
    Mariana Park I
    County:
    Maricopa
    Area:
    Tempe
    Elementary School:
    Flora Thew Elementary School
    Middle School:
    Connolly Middle School
    High School:
    Mcclintock High School
    School District:
    003 - Tempe School District
    Property Description
    Welcome to Mariana Park Apartments. Located near ASU's Tempe campus, this fully occupied four-plex is 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 902 S Mariana St, which is also a 4-plex for sale at $700,000 (MLS #6124320). Each parcel may be purchased separately; or may be purchased as a portfolio for $1.4 million (MLS #6124825) Cap Rate on current rent estimated at 3.59%, with average rents of $829. ProForma Cap Rate estimated at 5.08%, based on market rents of $1050 per unit.Property has a filled in pool that sits in a large court yard. Units have some updated units with granite counter tops and all tile floors. All facts and figures are approximate buyer verify MLS information. Drive by only tenants unaware of sale.
    Exterior Features

    Construction Block Construction Finish Painted Covered Parking Spaces 4.00 Lot Size Dimensions 10053 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/RangeMicrowaveRefrigeratorWasher/Dryer Cooling Central A/CElectric RefrigeratdIndividual Efficiency Unit Avg Sq Ft 0 Efficiency Unit Baths 0 Floors Ceramic Tile Heating CentralGasIndividual

    Property Features

    1 Bedroom Unit Avg Rent 859.50 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 48022.50 Annual Elec Exp 500.00 Annual Ins Exp 1400.00 Annual Landscape Exp 1200.00 Annual Maint Exp 3000.00 Annual Mgmt Exp 2063.00 Annual Ownr Asoc Fee 0.00 Annual Trash Exp 1500.00 Annual Wtr Swr Exp 1500.00 Community Amenities No Pool Cross Street University Dr & Dorsey Efficiency Unit Avg Rent 0.00 Efficiency Units 0 Electric Srp Gas Individual MeterSw Gas Gross Annual Sch Inc 50400.00 Hoa YN No Net Operating Income 35576.00 New Financing 1031 ExchangeConventionalFhaVa Operating Exp 12409.00 Other Income 150.00 Owner Pays LandscapingSewerTrash CollectionWater Project Type Four Plex Sale Includes Land & BuildingPersonal Property Sewer Sewer - Public Source Of Financial Data Projected ProformaProvided By Owner Special Accept Backups (Clo) Tax Municipality Tempe Taxes 1246.00 Tenant Pays Cable TvElectricGas 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 2020-09-29T00:12:38.677.
     
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    Scottsdale AZ, 85260