$3,900,000
Tempe, AZ 85281
MLS# 6388751
Status: Closed
1 / 36
Property Description
The District on Ash, is a unique community of seven quality constructed townhomes Located in a residential neighborhood within minutes to downtown Tempe, Mill Avenue and Arizona State University. Numerous dining, shopping and entertainment options are within walking distance of the community. All units have unique floorplans, complete with hard wood floors, gas ranges, granite countertops, ceramic farm sinks and in-unit laundry rooms. Some of the units have attached double garages. oversized porches and extensive storage. Residents can enjoy outdoor living in a trendy, urban setting.
Details
Contract Info
Ownership: Fee Simple
Current Price: $3,900,000
Sold Price: $3,900,000
Status: Closed
List Date: 2022-04-25
Location, Tax & Legal
Assessor's Map #: 42
Legal Description (Abbrev): LOT 1 ASH ESTATES MCR 111930
Assessor's Parcel #: 118
Add'l Parcels: No
Tax Municipality: Tempe
Census Tract: 319000
Taxes: 11571
Legal: LOT 1 ASH ESTATES MCR 111930
Marketing Name: The District on Ash
Map Code/Grid: R37
House Number: 959
Compass: S
Street Name: ASH
St Suffix: Avenue
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 8695
County Code: Maricopa
Subdivision: ASH ESTATES
Assessor Number: 132-42-118
Tax Year: 2021
General Property Description
# of Buildings: 4
Uncvrd Parking Spcs: 6
Lot Size Dimensions: 19,948
Total # of Units: 7
High School District: Tempe Union High School District
Elementary School: Tavan Elementary School
High School: Tempe High School
Year Built: 2013
Zoning: R-3
Legal Info
Range: 4E
Section: 22
Township: 1N
Lot Number: 1
Project Type
5 - 12 Units: 1
Construction
Wood Frame: 1
Steel Frame: 1
Const - Finish
Painted: 1
Siding: 1
Roofing
Composition: 1
Floors
Wood: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 755
Annual Gas Exp: 0
Annual Ins Exp: 3421
Annual Land Lse Exp: 0
Annual Landscape Exp: 4800
Annual Legal & Acctg: 1500
Annual Maint Exp: 2100
Annual Mgmt Exp: 12500
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 0
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 4752
Annual Other Expense: 4200
Operating Exp: 45599
Other Income: 0
Vacancy Allowance: 0.03
Adjusted Gross Inc: 265566.6
Total Monthly Rental Income: 19815
Status Update
Multiple Offers Recd: 1
Pmt & Rate Info
Cap Rate: 5.61
Equity: 3990000
Down Payment %: 100
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Text: 1
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Electric: 1
Central: 1
Cooling
Central Air: 1
Electric: 1
Heat Pump: 1
Individual: 1
Exterior Amenities
Landscape Water System: 1
Green Landscaping: 1
Cable TV Available: 1
Sidewalk(s): 1
Patio/Balcony: 1
Pet Restrictions: 1
Security Light(s): 1
Interior Features
Unfurnished: 1
Fire/Smoke Alarm(s): 1
Mini Blinds: 1
Tenant Pays
Gas: 1
Water: 1
Electricity: 1
Trash Collection: 1
Cable TV: 1
Appliances Included
Dishwasher: 1
Disposal: 1
Refrigerator: 1
Free-Standing Range: 1
Washer/Dryer: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Garage: 1
On Street: 1
>1 Space Per Unit: 1
Attached: 1
Paved: 1
Garage Door Opener: 1
Assigned: 1
Electric
APS: 1
Individual Meter: 1
Gas
SW Gas: 1
Individual Meter: 1
Owner Pays
Landscaping: 1
New Financing
Conventional: 1
No Carry: 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
Seller Prop Disc Stm: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 1
Avg Rent: 1882
Avg SqFt: 896
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 1
Avg Rent: 2723
Avg SqFt: 1100
# Baths: 2
3 Bedrooms Units
# 3 Bedroom Units: 5
Avg Rent: 3047
Avg SqFt: 1648
# Baths: 35
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Conventional
Loan Years: 30
Closing Cost Split: Normal - N
Payment Type: Fixed
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: Mill and University
Directions: West on University from Mill to Ash. South on Ash to the property on the East side of the street.
Geo Lat: 33.41975
Geo Lon: -111.942033
Status Change Info
Off Market Date: 2022-07-15
Under Contract Date: 2022-06-25
Close of Escrow Date: 2022-07-27
Sold Price: $3,900,000
Income Expenses
Gross Annual Sch Inc: 273780
Net Operating Income: 223854
Property Features
Project Type: 5 - 12 Units
Construction: Wood Frame; Steel Frame
Const - Finish: Painted; Siding
Roofing: Composition
Floors: Wood
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Landscape Water System; Green Landscaping; Cable TV Available; Sidewalk(s); Patio/Balcony; Pet Restrictions; Security Light(s)
Interior Features: Unfurnished; Fire/Smoke Alarm(s); Mini Blinds
Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Washer/Dryer
Heating: Central
Cooling: Electric; Heat Pump; Individual; Central Air
Water Source: City Franchise
Sewer: Sewer - Public
Electric: APS; Individual Meter
Gas: SW Gas; Individual Meter
Parking Features: Garage; On Street; >1 Space Per Unit; Attached; Garage Door Opener; Assigned; Paved
Road Surface Type: Asphalt
Owner Pays: Landscaping
Tenant Pays: Water; Electricity; Gas; Trash Collection; Cable TV
Source of Fincl Data: Owner
Status Update: Multiple Offers Recd
Showing Notification Methods: Text
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
Existing 1st Loan Type: Not Applicable
Existing 1st Loan Terms: Not Applicable
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Loan Type: Not Applicable
Existing 2nd Loan Terms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Loan Type: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional; No Carry
Environmental: None
Listing Office: HomeSmart
Last Updated: June - 30 - 2025
Copyright 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.
