$1,295,000
Tempe, AZ 85288
MLS# 6960414
1 / 10
Property Description
Turnkey 5-Unit Investment Near ASU & Old Town Scottsdale. Fully renovated in 2019 with near-zero vacancy in a high-demand rental market. Unit mix includes four 2BD/1BA units and one 1BD/1BA unit, each featuring updated interiors, vinyl flooring, modern cabinetry, granite countertops, dual-pane windows, new A/C systems, and upgraded security doors. Large private gated patios enhance tenant appeal. Low-maintenance asset offering stable cash flow and long-term appreciation potential.
Details
Maps
Documents
Contract Info
Ownership: Fee Simple
Current Price: $1,295,000
List Price: $1,295,000
Status: Active
List Date: 2025-12-23
Location, Tax & Legal
Assessor's Map #: 13
Legal Description (Abbrev): LOT 186 NORTH TEMPE 2 MCR
Assessor's Parcel #: 35
Add'l Parcels: Yes
Tax Municipality: Tempe
Census Tract: 318400
Taxes: 1363
Legal: LOT 186 NORTH TEMPE 2 MCR
Marketing Name: Oleander Flyer
House Number: 1231
Compass: N
Street Name: OLEANDER
St Suffix: Street
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85288
Zip4: 1847
County Code: Maricopa
Subdivision: NORTH TEMPE 2
Assessor Number: 132-13-035
Tax Year: 2025
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 2
Lot Size Dimensions: 7,070 SF
Total # of Units: 5
Elementary School District: Tempe School District
High School District: Tempe Union High School District
Elementary School: Cecil Shamley School
Jr. High School: McKemy Academy of International Studies
High School: McClintock High School
Year Built: 1958
Zoning: [R-2] Multi-Fam
Project Type
5 - 12 Units: 1
Construction
Block: 1
Wood Frame: 1
Brick: 1
Const - Finish
Painted: 1
Roofing
Foam: 1
Floors
Vinyl: 1
Sale Includes
Land & Building: 1
Income & Expenses
Owner Association: No
Annual Ownr Asoc Fee: 0
Other Income: 0
Vacancy Allowance: 2
Adjusted Gross Inc: 81060
Pmt & Rate Info
Cap Rate: 5.58
Equity: 1295000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: Aligned Showings
Lockbox Type
See Private Remarks: 1
None: 1
Community Features
No Pool: 1
Heating
Electric: 1
Cooling
Ceiling Fan(s): 1
Central Air: 1
Electric: 1
2 or More Units: 1
Tenant Pays
Gas: 1
Water: 1
Sewer: 1
Electricity: 1
Trash Collection: 1
Cable TV: 1
Appliances Included
Dishwasher: 1
Disposal: 1
Free-Standing Gas Oven: 1
Microwave: 1
Refrigerator: 1
Road Surface Type
Asphalt: 1
Dirt: 1
Source of Fincl Data
Owner: 1
Books Shwn Accpt Ofr: 1
Water Source
Individual Meter: 1
Sewer
Sewer - Public: 1
Parking Features
On Street: 1
1 Space/Unit: 1
Paved: 1
Assigned: 1
Electric
APS: 1
Gas
SW Gas: 1
Owner Pays
Landscaping: 1
See Remarks: 1
New Financing
Cash: 1
Conventional: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 1
Avg Rent: 1100
Avg SqFt: 550
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 4
Avg Rent: 1400
Avg SqFt: 685
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Cross Street: Scottsdale Rd & Curry Rd
Directions: South on Miller to Tempe Dr. West to Oleander
Geo Lat: 33.442403
Geo Lon: -111.918705
Legal Info
Lot Number: 185
Income Expenses
Gross Annual Sch Inc: 81060
Net Operating Income: 72317.27
Property Features
Project Type: 5 - 12 Units
Construction: Block; Wood Frame; Brick
Const - Finish: Painted
Roofing: Foam
Floors: Vinyl
Sale Includes: Land & Building
Community Features: No Pool
Appliances Included: Free-Standing Gas Oven; Refrigerator; Dishwasher; Disposal; Microwave
Cooling: Ceiling Fan(s); Electric; Central Air; 2 or More Units
Water Source: Individual Meter
Sewer: Sewer - Public
Electric: APS
Gas: SW Gas
Parking Features: On Street; 1 Space/Unit; Assigned; Paved
Road Surface Type: Dirt; Asphalt
Owner Pays: Landscaping; See Remarks
Tenant Pays: Water; Sewer; Electricity; Gas; Trash Collection; Cable TV
Source of Fincl Data: Owner; Books Shwn Accpt Ofr
Lockbox Type: See Private Remarks; None
New Financing: Cash; Conventional
Environmental: None
Unbranded Flyer 
Listing Office: Midland Real Estate Alliance
Last Updated: December - 23 - 2025
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