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Sold on 02/21/2019

1226-1234 E Spence Ave, Tempe, AZ 85281

  • $1,575,000

    Last sold 02/21/2019 after 185 Days

  • 23

    bed

  • 12

    bath

Multi-family not for sale
11 homes bought nearby with Movoto recently

About 1226-1234 E Spence Ave

Property type Multi-family
Neighborhood
Year built 1958
HOA fee $0/month
Property description
INVESTORS, DEVELOPERS, 1031 EXCHANGE - PRIME TEMPE LOCATION! A Unique 13-Unit Garden Apartment community committed to sustainable practices and cooperative living with fellow ASU graduate students. The 1st NAHB Green Certified Apt Project in the USA. The site is zoned R-4 and within the City of Tempe Transit Oriented Development corridor allowing for additional density; 16 units upon redevelopment. All leases have been renewed at current market rates and expire 7/31/2019. 3 buildings - APN 133-09-007A, 133-09-008A, 133-09-009.
Listed by
Listing Agent - Steven Skarphol
Listing Office - HomeSmart
Source: ARMLS mls logo
MLS#5809251 • last updated 7 years ago
Movoto checked ARMLS for data 5 minutes ago
Overview
Cooling/AC Ceiling Fan(s), Heat Pump, Individual
Heating Heat Pump, Natural Gas
MLS # 5809251
Type Multiple Dwellings
Status Closed
Property Tax 5815
Year Built 1958
Interior
Flooring Ceramic Tile, Concrete
Appliances Free-Standing Range, Disposal, Refrigerator
Exterior
Roof Composition, Built-Up
Construction Painted, Block
Parking Paved, Free, Add'l Parking Avail, >1 Space Per Unit, Carport
# of Open Parking Spaces 10
# of Covered Spaces 12
Amenities / Utilities
Water Source Master Meter, City Franchise
Sewer/Septic Public Sewer
Location
Subdivision ATTEBERY TRACT
Community Features Barbecue, No Pool
Elementary School Joseph P. Spracale Elementary School
Elementary School District Tempe Elementary School District
Middle School Connolly Middle School
High School District Tempe Union High School District
High School McClintock High School
APN 133-09-007-A
Zoning R-4/TODcorridor
Directions South On Rural Road To Light At Spence Avenue. East On Spence Avenue To The Property: 1226, 1230, & 1234 E Spence Ave.
Multifamily Details
Total # of Units 13
Expense: Operating 39961
Financial Data Source Accountant, Projected Proforma, Books Shwn Accpt Ofr
Expense: Maintenance 2400
Vacancy Allowance 0.03
Expense: Insurance 2166
Net Operating Income 102567
Gross Income 141711.18
Expense: Electric 1986
Expense: Fuel 1285
Expense: Professional Management 11687
Expense: Water/Sewer 4822
Gross Scheduled Income 146094
Expense: Gardener 4800
We are not permitted to show value estimates for this property.
  • Feb 2019
    mls logo MLS # 5809251
  • Feb 21, 2019 Sold
    $1,575,000 (-10.0%)
  • Aug 20, 2018 Listed
    $1,750,000
  • 1226-1234 E Spence Ave
    $1.57M
  • Downtown Tempe - Rio Salado
    $465K -8% y/y
  • 85281
    $459K -6% y/y
  • Tempe
    $487K -2% y/y
No chart available
Statistics calculated by Movoto

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3/10
Curry Elementary School
public Grades K-5
Tempe School District
4/10
Connolly Middle School
public Grades 6-8
Tempe School District
5/10
McClintock High School
public Grades 9-12
Tempe Union High School District
Source: GreatSchools.org © 2026. All rights reserved.

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  • Real Estate
  • AZ
  • Maricopa County
  • Tempe
  • 85281
  • Downtown Tempe - Rio Salado
  • 1226-1234 E Spence Ave
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