626 S WILSON Street
Tempe, AZ 85281
MLS# 6001308

626 S WILSON Street, Tempe, AZ 85281
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Property Description
Venture on Wilson is a 12-Unit garden-style property was constructed in 1960 and recently underwent extensive renovations, completed in 2019. Being located one block North of University and one block West of Farmer Avenue, Venture on Wilson truly lies in the heart of Tempe. Within walking distance of Arizona State University's Tempe Campus, the iconic Mill Avenue corridor, and Tempe Beach Park this property epitomizes student-work-life living. With construction wrapping up on the new Whole Foods Market only one block from the property residents will have the convenience of a walk-able grocery store.

Contract Info
Current Price: $2,160,000
List Price: $2,160,000
List Date: 2019-11-06
Location, Tax & Legal
Map Code/Grid: R36
House Number: 626
Compass: S
Street Name: WILSON
St Suffix: Street
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 2773
Country: USA
County Code: Maricopa
Subdivision: STATE PLAT NO 12 AMD
Assessor Number: 124-33-066-B
Taxes: 4815
Marketing Name: Venture on Wilson
General Property Description
Apx Lot Size Range: 105 Ft X 218 Ft
Year Built: 1960
Zoning: R-3
Elem School Dist #: 003 - Tempe School District
High School Dist #: 213 - Tempe Union High School District
Remarks & Misc
Geo Lat: 33.423315
Geo Lon: -111.946112
Status Change Info
Status Change Date: 2019-11-06
Status: Active
Legal Info
Township: 1N
Range: 4E
Section: 16
Lot Number: 1
Income & Expenses
Annual Elec Exp: 5200
Annual Ins Exp: 2400
Annual Landscape Exp: 2000
Annual Legal & Acctg: 1500
Annual Maint Exp: 4200
Annual Mgmt Exp: 7883
Annual Trash Exp: 800
Annual Wtr/Swr Exp: 1200
Owner Association: No
Annual Rplcmnt Rsrvs: 2400
Annual Other Expense: 4949
Operating Exp: 37347
Gross Annual Sch Inc: 162600
Other Income: 7800
Vacancy Allowance: 0.07
Adjusted Gross Inc: 158472
Totl Mnth Rntal Inc: 157667
Net Operating Income: 120319
Pmt & Rate Info
Cap Rate: 5.57
Equity: 2160000
Showing Instructions
Permission Required to Show: Yes
To Schedule Showing: Contact Via Text, Phone or Email
Primary Showing Contact: List OR Co-List Agent
ARMLS Lockbox: No
Non-ARMLS Lockbox: No
1 Bedroom Units
# 1 Bedroom Units: 10
Avg Rent: 1100
Avg SqFt: 625
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 2
Avg Rent: 1275
Avg SqFt: 800
# Baths: 1
Property Features
Project Type: 5 - 12 Units
Other Type: Other (See Remarks)
Construction: Block
Const - Finish: Painted
Roofing: Foam
Floors: Ceramic Tile
Sale Includes: Land & Building; Other (See Remarks)
Community Amenities: No Pool; Other (See Remarks)
Exterior Amenities: Landscape Wtr System; Other (See Remarks)
Interior Amenities: Unfurnished
Appliances Included: BI Oven/Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer; W/D Hookup; Other (See Remarks)
Heating: Other (See Remarks)
Cooling: Central A/C
Water: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: Other (See Remarks)
Parking: Street Parking; >1 Space Per Unit; Paved Parking
Roads/Streets: Asphalt/Blacktop
Owner Pays: Water; Landscaping
Tenant Pays: Electric; Other (See Remarks)
Source of Fincl Data: Provided by Owner; 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: Other (See Remarks)
Reports/Disclosures: Other (See Remarks)
Environmental: Other (See Remarks)

Listing Office: ABI Multifamily

Last Updated: November - 06 - 2019

626 S WILSON Street, Tempe, AZ 85281 - MLS# 6001308

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Sunday 15th of December 2019 06:31 PM