$3,950,000
2174 E Apache Boulevard, 3
Tempe, AZ 85281
MLS# 5930729



2174 E Apache Boulevard, 3, Tempe, AZ 85281
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Property Description
This is a portfolio sale of 3 parcels and 3 running hotel businesses. This includes 47 units 3 house and 2 offices. All studios except for 2 rooms. This can be mostly apartments. You can also tear down units and build up to 65 units of high density apartments. Land total is 92,040 sq feet. Hotels are located in front of light rail for easy access to Tempe Market Place and ASU students. 101 is about a block away for easy access. Currently ran as self managed all 3 hotels bring in about $35,000.00 gross and ran 60-65% for expenses per month. Also can build 65 units high density for multi-family. Drive by only managers unware of sale

Details
Maps
Contract Info
Current Price: $3,950,000
List Price: $3,950,000
List Date: 2019-05-24
Location, Tax & Legal
Map Code/Grid: R37
House Number: 2174
Compass: E
Street Name: Apache
St Suffix: Boulevard
Unit #: 3
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 4824
Country: USA
County Code: Maricopa
Subdivision: LOLA VISTA
Assessor Number: 132-72-026
Taxes: 31886
Marketing Name: Apache Portfolio Sale
General Property Description
Apx Lot Size Range: 2.11 acres
Year Built: 1950
Zoning: C-G
Elem School Dist #: 000 - Out of Area
High School Dist #: 000 - Out of Area
Remarks & Misc
Geo Lat: 33.415318
Geo Lon: -111.892865
Status Change Info
Status Change Date: 2019-05-24
Status: Active
Legal Info
Township: 1N
Range: 4E
Section: 24
Lot Number: 3
Income & Expenses
Owner Association: No
Annual Other Expense: 240000
Operating Exp: 271886
Gross Annual Sch Inc: 420000
Adjusted Gross Inc: 420000
Net Operating Income: 180000
Pmt & Rate Info
Cap Rate: 4.56
Equity: 3950000
Efficiency Units
# Efficiency Units: 46
Avg Rent: 729
Avg SqFt: 375
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 2
Avg SqFt: 1000
# Baths: 1
Property Features
Project Type: 25 - 50 Units; Other (See Remarks)
Other Type: House + Rental Units; Hotel/Motel; Packaged Offering; Other (See Remarks)
Construction: Block; Other (See Remarks)
Const - Finish: Painted
Roofing: Comp Shingle; Other (See Remarks)
Floors: Other (See Remarks)
Sale Includes: Land & Building; Pool Equipment; Laundry Equipment; Other (See Remarks)
Community Amenities: Pool(s); Manager Res/Office; Barbecue Area(s); Other (See Remarks)
Exterior Amenities: Landscape Wtr System; Cable TV Available
Interior Amenities: Furnished; Partially Furnished; Other (See Remarks)
Appliances Included: Other (See Remarks)
Heating: Gas; Window/Wall Unit(s)
Cooling: Window/Wall Unit
Water: City Franchise; Master Meter
Sewer: Sewer - Public
Electric: Master Meter
Gas: Other (See Remarks)
Parking: >1 Space Per Unit; Paved Parking
Roads/Streets: Asphalt/Blacktop
Owner Pays: Water; Electric; Gas; Trash; Cable TV; Landscaping; Pool/Spa Maintenance
Tenant Pays: None
Source of Fincl Data: Projected Proforma; Other (See Remarks)
Existing 1st Loan: Other (See Rmks)
Existing 1st Ln Type: Not Applicable
Existing 1st Ln Trms: Not Applicable
Existing 2nd Loan: Other (See Remarks)
Existing 2nd Ln Type: Not Applicable
Existing 2nd Ln Trms: Not Applicable
Existing 3rd Loan: Other (See Remarks)
Existing 3rd Ln Type: Not Applicable
Existing 3rd Ln Trms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional; Seller May Carry; 1031 Exchange; Other (See Remarks)
Reports/Disclosures: None
Environmental: Other (See Remarks)

Listing Office: Grace CRE

Last Updated: September - 11 - 2019

2174 E Apache Boulevard, 3, Tempe, AZ 85281 - MLS# 5930729

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Sunday 15th of December 2019 05:40 PM