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405 S Priest Drive, Tempe, AZ 85281
$1,810,000
405 S Priest Drive, Tempe, AZ 85281View this property at 405 S Priest Drive, Tempe, AZ 85281
405 S Priest DriveTempeAZ85281
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Property Description
Seller financing available! This well-maintained, value-add 10-unit property consists of three contiguous parcels, two addressed 405 S Priest Dr (APNs 124-28-031-C and 124-28-031-B) as well as 1325 W 4th St (APN 124-28-030), offering multiple exit strategies for a buyer. Electric has been redone and plumbing lines have been partially redone since current ownership. The property features a healthy unit mix of (8) one-bed / one-bath units and (2) two-bed / one-bath units. On-site parking is available for the tenants. There is a small courtyard area between the 4-plexes and a sizable backyard behind the duplex. All leases are month-to-month or ending soon, so great opportunity for immediate value-add in both interior and exterior renovations. Less than two miles from downtown Tempe and ASU.
Full Property Details
Full Property Details for 405 S Priest Dr
General
- Sold For: $1,810,000
- HOA FEE: $3,500
- Taxes: $5,289 (2022)
- Status: Closed
- Type: Multi-Family
- MLS ID: 6627699
- Added to Site: 191 day(s) ago
Interior
- Flooring: Vinyl
Parking
- Total Spaces: 12
- Parking Features: 1 Space/Unit, Street Parking
Location
- County: Maricopa
- Cross Streets: Priest Drive and University
Heating & Cooling
- Air Conditioning: Yes
- Cooling Type: Electric
- Heating Type: Electric
Utilities
- Sewer: Public Sewer
- Water: City Franchise
Structural Information
- # Buildings: 3
- Exterior Const.: Painted, Block
- Roof: Composition
- Year Built: 1961
Unit Information
- Vacancy %: .05
Lot Features
- Lot Dimensions: Rectangular
- Frontage: Asphalt
- Zoning: MF
Financial Considerations
- Maint. Fee/Month: $3,500
- Tax Amount: $5,289
- Tax Year: 2022
- Terms: Conventional, 1031 Exchange, Owner May Carry
- Owner Pays: Trash Collection, Water, Sewer
- Tenant Pays: Electricity, Cable TV
Disclosures and Reports
- Buyer’s Brokerage Compensation: 2.25%
- Buyer/Broker Compensation Available: Yes
- Documents Avail.: A lead-based hazard disclosure
- Multiple Parcels: Yes
- Property ID: 124-28-031-C
- Lot Number: 8
Listed by ABI Multifamily
Sold by ABI Multifamily
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Schools
Schools serving 405 S Priest Dr
School Districts:Tempe School District, Tempe Union High School District
Rating | Name | Grades | Distance |
---|---|---|---|
1115 W 5th St, Tempe, AZ 85281 | K-5 | 0.3 mi | |
1025 S Beck Ave, Tempe, AZ 85281 | 6-8 | 0.6 mi | |
1730 S Mill Ave, Tempe, AZ 85281 | 9-12 | 1.6 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 405 S Priest Dr
Date
Details
Price
Change
Source
3/25/2024
Sold
$1,810,000
-9.27%
MLS
1/18/2024
Price Reduced
$1,995,000
-9.11%
MLS
1/16/2024
Price Reduced
$2,195,000
-8.16%
MLS
11/07/2023
Listed
$2,390,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
405 S Priest Drive, Tempe, AZ 85281 (MLS# 6627699) is a Multi-Family property that was sold at $1,810,000 on March 25, 2024. Want to learn more about 405 S Priest Drive? Do you have questions about finding other Multi-Family real estate for sale in Tempe? You can browse all Tempe real estate or contact a Coldwell Banker agent to request more information.