$5,050,000
2325 W GARDEN Drive
Tempe, AZ 85282
MLS# 5956710
Status: Pending



2325 W GARDEN Drive, Tempe, AZ 85282
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Property Description
Colonial Park is a twenty-one-unit apartment community centrally located between the highly desirable Ahwatukee + North Tempe submarkets. Developed in 1988, the property is comprised of spacious two- and three-bedroom single family detached homes as well as two-story townhome style units with direct access two-car garages. Five units have undergone interior renovations to include modernized kitchens and bathroom.Additional improvements include new ground-mounted HVAC units, artificialturf landscaping, and a re-paved parking lot. Future ownership will have the opportunity to continue interior renovations in order to achieve a suggested $250 monthly renovation premium. Furthermore, residents are granted access to the thriving employment growth surrounding Phoenix, Sky Harbor and Tempe.

Details
Maps
Contract Info
Current Price: $5,050,000
List Price: $5,050,000
List Date: 2019-07-25
Location, Tax & Legal
Map Code/Grid: R36
House Number: 2325
Compass: W
Street Name: GARDEN
St Suffix: Drive
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85282
Zip4: 6129
Country: USA
County Code: Maricopa
Subdivision: SVOB PARK TOWNHOMES LOT 1-26 TR A-E
Assessor Number: 123-22-579
Taxes: 21643
Marketing Name: Colonia park
General Property Description
Apx Lot Size Range: 1.92
Year Built: 1988
Zoning: R1-4
Elem School Dist #: 003 - Tempe School District
High School Dist #: 213 - Tempe Union High School District
Remarks & Misc
Geo Lat: 33.385137
Geo Lon: -111.972507
Status Change Info
Status Change Date: 2019-09-04
Off Market Date: 2019-09-04
Under Contract Date: 2019-09-02
Status: Pending
Legal Info
Township: 1N
Range: 4E
Section: 32
Lot Number: 1
Income & Expenses
Annual Ins Exp: 4200
Annual Legal & Acctg: 8400
Annual Maint Exp: 8400
Annual Mgmt Exp: 10524
Annual Wtr/Swr Exp: 20577
Owner Association: Yes
Annual Rplcmnt Rsrvs: 6300
Annual Other Expense: 17850
Operating Exp: 97894
Gross Annual Sch Inc: 361680
Other Income: 10829
Vacancy Allowance: 0.05
Adjusted Gross Inc: 353883.55
Net Operating Income: 252315
Pmt & Rate Info
Cap Rate: 5
Equity: 5050000
Showing Instructions
Permission Required to Show: Yes
To Schedule Showing: Contact Via Text, Phone or Email
ARMLS Lockbox: No
Non-ARMLS Lockbox: No
2 Bedroom Units
# 2 Bedroom Units: 3
Avg Rent: 1328
Avg SqFt: 1271
# Baths: 2
3 Bedrooms Units
# 3 Bedroom Units: 18
Avg Rent: 1456
Avg SqFt: 1442
# Baths: 2
Property Features
Project Type: 13 - 24 Units
Other Type: House + Rental Units; Packaged Offering
Construction: Frame - Wood
Const - Finish: Painted; Siding
Roofing: Comp Shingle
Floors: Ceramic Tile; Carpet
Sale Includes: Land & Building
Community Amenities: Pool(s)
Exterior Amenities: Green Landscaping
Interior Amenities: Unfurnished; Fire/Smoke Alarm(s); Vertical Blinds; Mini Blinds; Drapes; Breakfast Bar
Appliances Included: F/S Oven/Range; Refrigerator; Dishwasher; Disposal; Microwave
Heating: Individual; Ceiling Fan(s)
Cooling: Individual
Water: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: SW Gas
Parking: Garage; >1 Space Per Unit
Roads/Streets: Asphalt/Blacktop
Owner Pays: None
Tenant Pays: Water; Electric; Gas
Source of Fincl Data: Provided by Owner
Existing 1st Loan: Treat as Free&Clear
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: Other (See Remarks)
Reports/Disclosures: Other (See Remarks)
Environmental: None
Supplements
17 of the units are Single Family Homes , 5 of the units are 2 story attached townhomes. See address schedule in documents

Listing Office: Platinum Living Realty

Last Updated: September - 10 - 2019

2325 W GARDEN Drive, Tempe, AZ 85282 - MLS# 5956710

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Sunday 15th of September 2019 02:33 PM