1011 E Orange Street, Tempe

$6,800,000

0 Beds
0 Baths
0 Acres
0 Garages

Park Terrace is a 40-unit, garden-style apartment community located within two blocks of Arizona State University's Tempe Campus where more than 50,000 ''in-person'' students are enrolled. Park Terrace is adjacent to the Valley Metro Light Rail and is on the ''Orbit'' shuttle route, which provides free rides connecting people to Downtown Tempe and other employment, retail, and entertainment venues within the city. Additionally, numerous dining and shopping options are in close proximity to the property including Tempe Marketplace, one of the most popular destinations in the Phoenix Metro, with 1.3 Million square feet housing over 100 local and national retailers and restaurants. Significant employers in proximity to the property include Arizona State University, State Farm, Salt River Project, Honeywell, Express Scripts, and First Solar. All of these aspects make Park Terrace a highly desirable community for all of its residents.
Park Terrace has an attractive mix of one and two-bedroom unit types. All units are individually metered for electricity. Park Terrace is an irreplaceable asset in an iconic multifamily neighborhood offering tenants the convenience of an on-site laundry facility and covered parking while being located within walking distance of Arizona State University. The property offers the investor a unique value-add opportunity through additional interior and exterior renovations located on a parcel zoned R-4 with seven-story student housing properties on two sides.

Essential Information
MLS® #6143749
Price$6,800,000
Year Built1963
TypeMulti-Family
Sub-Type25 - 50 Units
StatusActive
Community Information
Address1011 E Orange Street
SubdivisionTERRACE PARK 1
CityTempe
CountyMaricopa
StateAZ
Zip Code85281
Amenities
AmenitiesNo Pool
Parking Spaces45
ParkingOther (See Remarks)
Interior
AppliancesNone
HeatingElectric
CoolingChiller System
Exterior
Lot Descriptionunknown
RoofOther (See Remarks)
ConstructionBlock
District

003 - Tempe Elementary District

Additional Information
ZoningR-4
Listing Details
OfficeABI Multifamily
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Listing information last updated on October 20th, 2020 at 1:32am MST.