1106 E Weber Drive (unit 1033), Tempe

$7,950,000

0 Beds
0 Baths
0 Sqft
0 Acres
1 Garages

The Newport, located at 1106 East Weber Drive in Tempe, AZ is a single-family community offering of 17 out of 38 detached homes. The property was constructed between 2015 - 2018, with 15 of 17 units fully furnished and master-leased for the next four years at $3,050 per unit per month. As such, investors have an opportunity to acquire a 'no-hassle,' Class ''A'' pride-of ownership community, located between ASU and Old Town Scottsdale. The 17 residences are 100% leased / occupied and include four separate and unique floor plans with either Two Bedrooms + Den (6%) or Three Bedrooms + Den (94%) and average over 1,700 square feet. The community is constructed of wood frame and stucco with aluminum siding accents and metal and foam roofs. The Newport was awarded SRP's GoldStar rating for the ultimate in high energy efficiency. All residences have 9-foot ceilings and 7-foot doors. The homes' interior finishes rival million dollar properties, including Kenmore stainless-steel appliances, granite countertops, custom cabinets, Kohler plumbing fixtures, high-end sinks and washer/dryers. All flooring (other than bedrooms) and stairs are fitted with luxury tile. The Newport homes feature top of the line lighting fixtures and are wired with Cat5 cable. All residences have large patio terraces and private yards and many of the units have spacious roof top decks, offering 360 degree views of the Valley. The Newport offers both two-story and three-story residences. The community features a beautiful pool and spa, ramada and barbecue and each residence is provided with two bikes. Residents of The Newport can also enjoy the amenities at the North Tempe Multi-Generational Center, located directly across the street, for $25 for the year or a $1 per day. The 30,000 square foot facility includes a fitness center, a business center/library, a gym with multiple basketball courts, community classrooms, preschool classrooms, a youth center, a teen center and a senior center.

Located between Old Town Scottsdale and Arizona State University, The Newport draws significantly from two of the largest employment and entertainment hubs in the entire Phoenix Valley. Arizona State University reached a new milestone in 2018's Fall Semester, enrolling more than 100,000 students, which is a 12% increase over last year and 40% more than five years ago. The nearby Marina Heights project in Tempe is the largest office
development in Arizona history. Total construction costs are estimated at $600 million. State Farm will lease approximately 1.9 million square feet in the development with a capacity for
up to 8,000 employees.

Just north of The Newport is South Scottsdale, home to SkySong, the ASU Scottsdale Innovation Center. SkySong is a mixed-use project consisting of 1.2 million square feet of office, research, and retail space located on 42 acres at the intersection of Scottsdale and McDowell Road. Since 2009, over $200 million of new investment has been made along McDowell Corridor. Downtown 'Old Town' Scottsdale, just further north, is the city's second largest employment center and a budding hub for technology and healthcare companies like Yelp, Weebly, McKesson Pharmaceuticals, Zivelo, ZocDoc, Digital Air Strike, Zenreach,
Outbound Engine, and ReplyBuy. Since 2010, over $500 million of private investment has been completed in Downtown Scottsdale involving residential, retail, hotel and office development.

Essential Information
MLS® #5919981
Price$7,950,000
Year Built2017
TypeMulti-Family
Sub-Type13 - 24 Units
StatusActive
Community Information
Address1106 E Weber Drive (unit 1033)
SubdivisionNEWPORT AT TEMPE
CityTempe
CountyMaricopa
StateAZ
Zip Code85281
Amenities
Parking Spaces39
ParkingGarage
# of Garages1
Amenities

Pool(s), Spa(s), Heated Spa(s), Heated Pool(s)

Interior
HeatingElectric
Interior Features

Fire/Smoke Alarm(s), Furnished, Fire Sprinklers

Appliances

Refrigerator, BI Oven/Range, Dishwasher, Disposal, Microwave, Washer/Dryer

Cooling

Electric Refrigeratd, Individual

Exterior
Lot Description23726
RoofFoam, Metal, Rolled
ConstructionFrame - Wood
Exterior Features

Landscape Wtr System, Desert Landscaping, Green Landscaping, Patio/Balcony

District

003 - Tempe Elementary District

Additional Information
ZoningR1-PAD
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 2019 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

Listing information last updated on May 19th, 2019 at 2:02pm MST.

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