902 & 903 S Mariana Street, Tempe

$1,320,000

0 Beds
0 Baths
0 Acres
0 Garages

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. Buyer to verify all MLS information, as facts and figures are approximate. Do Not Disturb Tenants. Drive-by only.

Essential Information
MLS® #6124825
Price$1,320,000
Year Built1959
TypeMulti-Family
Sub-Type5 - 12 Units, Four Plex
StatusActive
Community Information
Address902 & 903 S Mariana Street
SubdivisionMARIANA PARK I
CityTempe
CountyMaricopa
StateAZ
Zip Code85281
Amenities
AmenitiesNo Pool
Parking Spaces4
Parking1 Space/Unit, Carport
Interior
Interior FeaturesUnfurnished
AppliancesF/S Oven/Range, Refrigerator
HeatingGas
Cooling

Central A/C, Electric Refrigeratd, Individual

Exterior
Lot Description8,228 sqft
RoofRolled
ConstructionBlock
Exterior Features

Green Landscaping, Landscape Wtr System

District

003 - Tempe Elementary District

Additional Information
ZoningR-3
Listing Details
OfficeGrace CRE
Property History
Price Reduced from $1,390,000 to $1,320,000
Price Reduced from $1,400,000 to $1,390,000
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Arizona Regional Multiple Listings Service Logo 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 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

Listing information last updated on December 1st, 2020 at 7:47pm MST.