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32764592
32764601

1219 S FARMER AVE, TEMPE, AZ 85281 For Sale

RH
AZ SA640657000
Keller Williams Arizona Realty
Listed by Keller Williams Arizona Realty
$1,420,000
61 days on market
Updated 6 days ago

ASU Located 7 Units

Details
APN 124-70-019
Property Type Multifamily
Sub Type Apartment Building
Square Footage 3,500
Units 5
Cap Rate 6.23%
NOI $91,594
Year Built 1965
Stories 1
Lot Size (SqFt) 10,688

ASU Located 7 Units

Marketing description

5 of the 7 Units Fully Renovated in 2022

Laundry Equipment in 4 units

Plumbing & Electrical Updates

New Roofs

Investment highlights

This 7-unit, garden-style apartment property sits in an incredible location, approximately half a mile from ASU's main campus. Additionally, this property offers residents proximity to Tempe Town Lake Offices, Mill Avenue, the 202 freeway, and Sky Harbor Airport. Location isn't the only Desirable Characteristic of this investment opportunity. 5 of 7 units have been thoroughly remodeled in the past 5 years offering immediate upside to the new owner! Along with interior updates, the property's comprehensive renovation included significant roofing, plumbing, and electrical work, with 4 of 7 units now featuring their own laundry facilities. Six storage rooms are also located on site. Marketing in cooperation with the Lowery Premier Team, courtesy of HomeSmart®

Don't miss out on this incredible investment opportunity!

Listing Contacts

RH
AZ SA640657000
Keller Williams Arizona Realty
Listed by Keller Williams Arizona Realty

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$91,594.00
$7,632.83/mo

Valuation Metrics

0
DSCR
6.45%
Cap Rate
6.45%
ROI

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Additional Information

Name
Rick Horst
License
SA640657000
Brokerage Phone
4803530394
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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