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1010 S Smith Road, Tempe
Las Palmas Apartments is a 16-unit multifamily property. ~6.22% CAP on actuals! The property is comprised of 100% 2-bed / 1-bath 800-sq ft. units. 10 of the 16 units are equipped with large private backyards. In each unit, Las Palmas has been completely renovated with vinyl plank flooring, granite countertops, stainless-steel appliances, new A/C in all units, and individual washer / dryers. The property also features a new paved parking lot, as well as extremely low maintenance desert landscaping. Las Palmas Apartments will make an ideal asset in the highly desirable Tempe submarket. There are still two units with leases expiring in December that have not been renovated. The seller has guaranteed completion by January 2019, and once completed, intends to lease both at $1,150+.
- MLS® #5851048
- Year Built1961
- Sub-Type13 - 24 Units
- AmenitiesNo Pool
- Parking Spaces16
- Parking>1 Space Per Unit
- Lot Description215.72x176.64
- Address1010 S Smith Road
- SubdivisionRANCHO EL DORADO 26-35, 45-53
- Zip Code85281
- Interior FeaturesOther (See Remarks)
- AppliancesRefrigerator, Dishwasher, Washer/Dryer
- District003 - Tempe Elementary District
- Listing OfficeABI Multifamily
Information Deemed Reliable But Not Guaranteed. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. ARMLS Logo indicates that a property listed by a real estate brokerage other than Realty One Group. Copyright 2019 Arizona Regional Multiple Listing Service, Inc. All rights reserved.
Listing information last updated on January 19th, 2019 at 11:48am MST.