1010 S Smith Road, Tempe

$2,590,000

0 Beds
0 Baths
0 Sqft
0 Acres
0 Garages

Las Palmas Apartments is a 16-unit multifamily property. ~6.22% CAP on actuals! The property is comprised of 100% 2-bed / 1-bath 800-sq ft. units. 10 of the 16 units are equipped with large private backyards. In each unit, Las Palmas has been completely renovated with vinyl plank flooring, granite countertops, stainless-steel appliances, new A/C in all units, and individual washer / dryers. The property also features a new paved parking lot, as well as extremely low maintenance desert landscaping. Las Palmas Apartments will make an ideal asset in the highly desirable Tempe submarket. There are still two units with leases expiring in December that have not been renovated. The seller has guaranteed completion by January 2019, and once completed, intends to lease both at $1,150+.

Essential Information
MLS® #5851048
Price$2,590,000
Year Built1961
TypeMulti-Family
Sub-Type13 - 24 Units
StatusActive
Community Information
Address1010 S Smith Road
SubdivisionRANCHO EL DORADO 26-35, 45-53
CityTempe
CountyMaricopa
StateAZ
Zip Code85281
Amenities
AmenitiesNo Pool
Parking Spaces16
Parking>1 Space Per Unit
Interior
Interior FeaturesOther (See Remarks)
HeatingElectric
CoolingIndividual
Appliances

Refrigerator, Washer/Dryer, Dishwasher

Exterior
Lot Description215.72x176.64
RoofRolled
ConstructionBlock
District

003 - Tempe Elementary District

Additional Information
ZoningR-4
Listing Details
OfficeABI Multifamily

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Arizona Regional Multiple Listings Service Logo Information Deemed Reliable But Not Guaranteed. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. ARMLS Logo indicates that a property listed by a real estate brokerage other than RE/MAX Infinity​. Copyright 2018 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

Listing information last updated on December 10th, 2018 at 8:18pm MST.

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