1440 S STANLEY Place, Tempe, AZ 85281

$1,200,000

Property Type: Multiple Dwellings Status: Active

Current Price: $1,200,000 Last Modified: 5/19/2025

Description

Prime dirt location on the doorstep to ASU, the 5th largest university in the US. This six unit complex has a lot to offer. All 1 bedroom unit mix with $1398 rents & a 7/28/2025 lease exp. Located in an opportunity zone with 1000's of new units in process. Stabilized 6+ CAP with room to raise rents. Student housing. Very low expenses w/ separate, tenant-paid electric/gas. Available individually or as part of a package of 15 units (see MLS 6851166). Value-add. Long-term, local-owner that has self-managed. Seller financing possible. Expenses are actual & estimated.

More Information MLS# 6855620

Contract Info

Current Price: $1,200,000 List Price: $1,200,000 Status: Active List Date: 2025-04-11 Ownership: Fee Simple

Location Tax Legal

House Number: 1440 Compass: S Street Name: STANLEY St Suffix: Place City/Town Code: Tempe State/Province: AZ Zip Code: 85281 Zip4: 5888 Country: US County Code: Maricopa Subdivision: STANLEY PLAT Assessor Number: 133-09-072 Tax Year: 2024

General Property Description

Lot Size Dimensions: 10000 sf Year Built: 1960 Uncvrd Parking Spcs: 8 Total # of Units: 6 # of Buildings: 2 Zoning: R4 Flood Zone: No High School District: Tempe Union High School District

Remarks Misc

Cross Street: RURAL/APACHE BLVD. Directions: Cul-de-sac, enter from Apache. Geo Lat: 33.411234 Geo Lon: -111.919734

Status Change Info

Status Change Date: 2025-04-23

Legal Info

Township: 1N Range: 4E Section: 23 Lot Number: 22

Income Expenses

Gross Annual Sch Inc: 99468 Net Operating Income: 78500

Showing Notification Methods

Showing Service: No Showing Service Used

1 Bedroom Units

# 1 Bedroom Units: 6 Avg Rent: 1382 Avg SqFt: 525

Property Features

Project Type: 5 - 12 Units Other Type: Packaged Offering; Other (See Remarks) Construction: Block Const - Finish: Painted Roofing: Composition Floors: Concrete; Other Sale Includes: Land & Building; Personal Property Community Features: Other; See Remarks Exterior Amenities: Desert Landscaping; Partially Fenced; Cable TV Available Interior Amenities: Fire/Smoke Alarm(s) Appliances Included: Free-Standing Range; Refrigerator Heating: Natural Gas; Wall Furnace Cooling: Window/Wall Unit Water Source: City Franchise; Master Meter Sewer: Sewer - Public; Sewer-In & Connected Electric: SRP; Individual Meter Gas: SW Gas; Individual Meter Parking Features: >1 Space Per Unit; Free Owner Pays: Water; Trash Collection; Cable TV; Landscaping Tenant Pays: Electricity; Gas; Cable TV Source of Fincl Data: Owner; Projected Proforma; Other (See Remarks) Lockbox Type: None Existing 1st Loan: Treat as Free&Clear Existing 1st Ln Type: Not Applicable Existing 1st Ln Trms: Not Applicable Existing 2nd Loan: Treat as Free&Clear Existing 2nd Ln Type: Not Applicable Existing 2nd Ln Trms: Not Applicable Existing 3rd Loan: Treat as Free&Clear Existing 3rd Ln Type: Not Applicable Existing 3rd Ln Trms: Not Applicable Existing Othr Ln Trm: Not Applicable New Financing: Cash; Conventional; Owner May Carry Environmental: None

Listing Office: Better Homes & Gardens Real Estate SJ Fowler

Last Updated: May - 19 - 2025

1440 S STANLEY Place, Tempe, AZ 85281 (MLS# 6855620)