Address
902 & 903 S Mariana Street Tempe, AZ
Price
$ 1,320,000
Property Attributes
  • MLS#6124825
  • TypeMulti-Family
  • CountyMARICOPA
  • CityTempe
  • NeighborhoodMariana Park I
  • Zip85281
  • Style
  • Year Built1959
  • Taxes2462
  • Price$ 1,320,000
  • Bedrooms4
  • Full Bathrooms4
  • Half Bathrooms0
  • Sqr Footage1920
Listing Provided Courtesy Of:
Grace CRE
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 $660,000 each or may be purchased as a portfolio for $1,320,000. 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.

Price History
8/30/2020 Listed $1,400,000
9/25/2020 1% - $1,390,000
10/6/2020 6% - $1,320,000

General Features

1 Bedroom Units: Avg Rent 1050.00
2 Bedroom Units: Avg Rent 0.00
3 Bedrooms Units: Avg Rent 0.00
4 Bedrooms Units: Avg Rent 0.00
Construction Block
Cooling Central A/C, Electric Refrigeratd, Individual
Electric APS, Individual Meter
Exterior Features Green Landscaping, Landscape Wtr System
Features No Pool
Heating Gas
Interior Features Unfurnished
Map Code/Grid R37
Net Income 72058.00
New Financing 1031 Exchange, Conventional, FHA, No Carry
Owner Pays Landscaping, Sewer, Trash Collection, Water
Parking 1 Space/Unit, Carport
Property Type F
Public Remarks Welcome to Mariana Park Apartments.This is a portfolio of two 4 plexs. Located near ASU's Tempe campus
Roof Rolled
School District 003 - Tempe School District
Sewer Sewer - Public
Status Active
Subdivision MARIANA PARK I
Tenant Pays Cable TV, Electric, Gas
Water City Franchise
Year Built 1959
Zoning R-3

Interior Features

1 Bedroom Units: # 1 Bedroom Units 4
1 Bedroom Units: # Baths 1
1 Bedroom Units: Avg Sqft 480
Appliances Included F/S Oven/Range, Refrigerator
Floors Ceramic Tile, Vinyl/Composition
Gas Individual Meter, SW Gas
Total Number of Units 8.00

Exterior Features

Sale Includes Land & Building, Personal Property
Const - Finish Painted
Covered Parking Spcs 4.00
Lot Size Dimensions 8, 228 sqft
Total Parking Spcs 4.00

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 85281

Price
AVG $1.17M
$1.32M
Taxes
AVG $3,491
$2,462
Visits
AVG 467
339
Year Built
AVG 1959
1959
Walkscore
AVG 72
81
Data Provided by Walkscore ® not using MLS data

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