405 S PRIEST Drive N, Tempe, AZ 85281

$845,000

Property Type: Multiple Dwellings Status: Active

Current Price: $845,000 Last Modified: 5/02/2025

Description

405 South Priest Drive (North) is a well maintained fourplex built in 1961 and recently renovated, near Arizona State University and major transportation routes, including Loop 202, SR-143, and I-10, as well as proximity to Phoenix Sky Harbor International Airport. The property consists of 100% 1-bedroom / 1-bathroom units, each offering 665 square feet of living space. In 2024, the property underwent extensive renovations, enhancing its appeal and functionality. Upgrades include new flooring, countertops, cabinetry, stainless-steel appliances, updated bathrooms, modern light fixtures, new doors, and fresh paint. The property is individually metered for electricity and features a shared laundry room, as well as separate storage areas for each unit. New roof by Close of Escrow.

More Information MLS# 6740368

Contract Info

Current Price: $845,000 List Price: $845,000 Status: Active List Date: 2024-08-06 Ownership: Fee Simple

Location Tax Legal

House Number: 405 Compass: S Street Name: PRIEST St Suffix: Drive St Dir Sfx: N City/Town Code: Tempe State/Province: AZ Zip Code: 85281 Country: US County Code: Maricopa Subdivision: JO-ELLEN HOMES Assessor Number: 124-28-031-C Tax Year: 2023

General Property Description

Lot Size Dimensions: 6580 sqft Year Built: 1961 Uncvrd Parking Spcs: 6 Total # of Units: 4 # of Buildings: 1 Zoning: R-4 High School District: Tempe Union High School District

Remarks Misc

Cross Street: S Priest Dr & W 4th St Geo Lat: 33.426271 Geo Lon: -111.960537

Status Change Info

Status Change Date: 2025-04-18

Legal Info

Lot Number: 8

Income Expenses

Gross Annual Sch Inc: 71424 Net Operating Income: 51835

Showing Notification Methods

Showing Service: Non-MLS Showing Service - See Private Remarks

1 Bedroom Units

# 1 Bedroom Units: 4 Avg Rent: 1488 Avg SqFt: 665 # Baths: 1

Property Features

Project Type: Four Plex Construction: Block Const - Finish: Painted Roofing: Composition Floors: Vinyl Sale Includes: Land & Building; Laundry Equipment Community Features: Other Exterior Amenities: Desert Landscaping; Partially Fenced; Separate Storage Interior Amenities: Other (See Remarks) Appliances Included: Built-In Range; Refrigerator; Disposal Cooling: Electric; Individual Water Source: City Franchise Sewer: Sewer - Public Electric: Individual Meter Gas: Other (See Remarks) Parking Features: Other Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity Source of Fincl Data: Owner; Projected Proforma Showing Notification Methods: Text; Email; Phone Call Lockbox Type: Mech-box / Combo New Financing: Cash; VA; FHA; Conventional; 1031 Exchange Environmental: None

Listing Office: ABI Multifamily

Last Updated: May - 02 - 2025

405 S PRIEST Drive N, Tempe, AZ 85281 (MLS# 6740368)