$1,320,000 902 & 903 S Mariana Street Tempe, AZ

MLS: 6124825   Type: Multi-Family   County: Maricopa   City: Tempe   Neighborhood: Mariana Park I   Zip: 85281     Taxes: $2,462

Mortgage $6,197 /mo



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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.

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Price History

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

1 Bedroom Units: Avg Rent 1050.00
2 Bedroom Units: Avg Rent 0.00
3 Bedrooms Units: Avg Rent 0.00
3 Bedrooms Units: Avg Sqft 0
4 Bedrooms Units: Avg Rent 0.00
4 Bedrooms Units: Avg Sqft 0
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
2 Bedroom Units: # 2 Bedroom Units 0
2 Bedroom Units: # Baths 0
2 Bedroom Units: Avg Sqft 0
3 Bedrooms Units: # 3 Bedroom Units 0
3 Bedrooms Units: # Baths 0
4 Bedrooms Units: # 4 Bedroom Units 0
4 Bedrooms Units: # Baths 0
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

Const - Finish Painted
Covered Parking Spcs 4.00
Lot Size Dimensions 8, 228 sqft
Total Parking Spcs 4.00

Property Schools

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Gallery (28 photos)

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Property vs Zip Code Avg (85281)

Price 1.32M Avg 1.17M

Sqr Feet 1,920 Avg 3,890

Cost / Sqr Ft $688 Avg $301

Taxes $2,462 Avg $3,491

Visits 340 Avg 467

Days on Site 88 Avg 205

Walkscore® 81 Avg 72

Data Provided by Walkscore ® not using MLS data

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Location & Address

Quantum of Arizonas, REALTORS
34406 N 27th Drive #140
Phoenix, AZ