2435 N McAllister Avenue, Tempe, AZ 85288
$3,500,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $3,500,000 Last Modified: 7/06/2022
Description
A prime property with excellent cash flow and occupancy. This well maintained 38 unit complex is a rare find in Tempe. Offered with a cap rate at 6.88% and the potential of owner financing for up to five years at 5% interest with a 25% down payment.
More Information MLS# 4871786
Contract Info
Ownership: Fee Simple Current Price: $3,500,000 Sold Price: $3,500,000 Status: Closed List Date: 2013-01-08
Location, Tax & Legal
Assessor's Map #: 16 Assessor's Parcel #: 101 Assessor Parcel Ltr: B Add'l Parcels: Yes Tax Municipality: Tempe Taxes: 10237.04 Legal: SW4 OF SW4 OF NE4 OF SE4 EX S 205F OF E 210F EX W 30F & EX S 30F RD & EX 15F X 15F TRI IN SW COR TH /OF P/D 83-238766 Marketing Name: Brenda Arms Map Code/Grid: Q37 House Number: 2435 Compass: N Street Name: McAllister St Suffix: Avenue City/Town Code: Tempe State/Province: AZ Zip Code: 85288 County Code: Maricopa Assessor Number: 129-16-101-B Tax Year: 2012
General Property Description
# of Buildings: 4 Uncvrd Parking Spcs: 42 Lot Size Dimensions: Irr Total # of Units: 38 Elementary School District: Scottsdale Unified District High School District: Scottsdale Unified District Year Built: 1984 Zoning: M-H
Project Type
25 - 50 Units: 1
Construction
Wood Frame: 1
Const - Finish
Painted: 1 Stucco: 1
Roofing
Tile: 1 Foam: 1
Floors
Wood: 1 Ceramic Tile: 1
Sale Includes
Land & Building: 1 Personal Property: 1 Pool Equipment: 1
Income & Expenses
Annual Elec Exp: 6545.37 Annual Gas Exp: 1592.34 Annual Ins Exp: 9620 Annual Land Lse Exp: 0 Annual Landscape Exp: 5000 Annual Legal & Acctg: 500 Annual Maint Exp: 10000 Annual Mgmt Exp: 24000 Annual Trash Exp: 0 Annual Wtr/Swr Exp: 12569.96 Owner Association: No Annual Ownr Asoc Fee: 0 Annual PAD Fee: 0 Annual Rplcmnt Rsrvs: 0 Annual Other Expense: 0 Operating Exp: 80064.71 Other Income: 9000 Vacancy Allowance: 0.01 Adjusted Gross Inc: 335016 Total Monthly Rental Income: 28000
Pmt & Rate Info
Cap Rate: 6.88 Down Payment: 0 Equity: 3700000 Down Payment %: 0 Monthly Payments: 0 Total Owed: 0 Assessment Balance: 0
Community Features
Pool: 1 Barbecue: 1
Heating
Electric: 1
Cooling
Electric: 1 Individual: 1
Exterior Amenities
Landscape Water System: 1 Green Landscaping: 1 Curb(s) & Gutter(s): 1 Satellite Dish: 1 Cable TV Available: 1 Sidewalk(s): 1 Patio/Balcony: 1 Separate Storage: 1 Security Light(s): 1
Interior Features
Unfurnished: 1 Fire/Smoke Alarm(s): 1 Vertical Blinds: 1
Tenant Pays
Electricity: 1 Cable TV: 1
Appliances Included
Dishwasher: 1 Disposal: 1 Refrigerator: 1 Free-Standing Range: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
>1 Space Per Unit: 1 Paved: 1 Assigned: 1
Electric
SRP: 1
Gas
SW Gas: 1
Owner Pays
Water: 1 Gas: 1 Trash Collection: 1 Landscaping: 1 Pool Maintenance: 1
New Financing
Conventional: 1 Owner May Carry: 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
None: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 16 Avg Rent: 660 Avg SqFt: 800 # Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 22 Avg Rent: 768 Avg SqFt: 1025 # Baths: 12
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Carryback Loan Years: 10 Closing Cost Split: Normal - N Payment Type: Adjustable Buyer Concession to Seller: 0 Buyer Concession $/%: $ Seller Concession to Buyer: 0 Seller Concession $/%: $
Remarks Misc
Cross Street: Scottsdale Road & McKellips St. Directions: North on Scottsdale road to Filmore Street, West on Filmore to McAllister Ave. North on McAllister to first driveway on right. Geo Lat: 33.455415 Geo Lon: -111.930255
Status Change Info
Off Market Date: 2013-07-12 Under Contract Date: 2013-07-12 Close of Escrow Date: 2013-08-06 Sold Price: $3,500,000
Income Expenses
Gross Annual Sch Inc: 329400 Net Operating Income: 254495.29
Property Features
Project Type: 25 - 50 Units Construction: Wood Frame Const - Finish: Painted; Stucco Roofing: Tile; Foam Floors: Wood; Ceramic Tile Sale Includes: Land & Building; Personal Property; Pool Equipment Community Features: Pool; Barbecue Exterior Amenities: Landscape Water System; Green Landscaping; Curb(s) & Gutter(s); Satellite Dish; Cable TV Available; Sidewalk(s); Patio/Balcony; Separate Storage; Security Light(s) Interior Features: Unfurnished; Fire/Smoke Alarm(s); Vertical Blinds Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal Cooling: Electric; Individual Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: SW Gas Parking Features: >1 Space Per Unit; Assigned; Paved Road Surface Type: Asphalt Owner Pays: Water; Gas; Trash Collection; Landscaping; Pool Maintenance Tenant Pays: Electricity; Cable TV Source of Fincl Data: Owner Existing 1st Loan: Treat as Free&Clear Existing 1st Loan Type: Not Applicable Existing 1st Loan Terms: Not Applicable Existing 2nd Loan: Treat as Free&Clear Existing 2nd Loan Type: Not Applicable Existing 2nd Loan Terms: Not Applicable Existing 3rd Loan: Treat as Free&Clear Existing 3rd Loan Type: Not Applicable Existing 3rd Loan Terms: Not Applicable Existing Othr Ln Trm: Not Applicable New Financing: Conventional; Owner May Carry Environmental: None
Documents
Offer Shell › Listing Office: RE/MAX Excalibur
Last Updated: July - 06 - 2022
Copyright 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.