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Listing 3 out of 37
Sold for $714,000 Sold

1039 Spence Avenue
Tempe, AZ 85281

4 units | Multi Family Home - MLS# 5927124
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Sold for $714,000 on Jul 17, 2019


We are pleased to announce a turn key remodeled Tempe 4 plex walking distance to ASU. This is amazing Tempe location near the light rail, malls, shopping, restaurants & freeways. This building has been updated with major capital improvements. Kitchens, granite counter tops, washer and dryers added to all units. New electrical panels, floors, bathrooms, tank less water heaters, new parking lot, new yards, new lighting, new yards, new roof and much more. Also this complex is fully rented with 2 year leases in place two at $1,500 (2) bedroom 1 bath units. One 1 bed $1,300 and one at $1,250. They are leased to tenants who run as short term rentals. Amazing return for the next two years with these leases in place. Self Manged. All facts & figures are approximate buyer verify MLS information


  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • Listing Status: Closed
  • Listing Price: $729,900
  • County/Area: Maricopa County
  • Zip Code: 85281
  • Year Built: 1964
  • Subdivision/Neighborhood: Jen Tilly Terrace Lots 19-29/Tr A /
  • School District: 003 - Tempe School District
  • Units: 4 units
  • # of Parking Spaces: 4
  • Zoning: R-4
  • 1 Bedroom Units: # 1 Bedroom Units: 2
  • 1 Bedroom Units: # Baths: 1
  • 1 Bedroom Units: Avg Rent: 1275.00
  • 1 Bedroom Units: Avg SqFt: 650
  • 2 Bedroom Units: # 2 Bedroom Units: 2
  • 2 Bedroom Units: # Baths: 1
  • 2 Bedroom Units: Avg Rent: 1500.00
  • 2 Bedroom Units: Avg SqFt: 829
  • Appliances Included: BI Oven/Range, Refrigerator
  • Complex Features: No Pool
  • Const - Finish: Painted
  • Construction: Block
  • Cooling: Electric Refrigeratd, Individual
  • Electric: APS
  • Exterior Features: Desert Landscaping, Partially Fenced, Cable TV Available, Separate Storage
  • Floors: Concrete
  • Heating: Electric, Individual
  • High School Dist #: 003 - Tempe School District
  • Interior Features: Unfurnished, Fire/Smoke Alarm(S)
  • Lot Dimensions: 8, 500
  • Marketing Name: Jen Tilly Terrace Apts
  • Net Income: 53300.00
  • Owner Pays: Water, Sewer, Trash
  • Parking: Free, 1 Space/Unit, Street Parking, Add'l Parking Avail
  • Property Description: Four Plex
  • Roads/Streets: Asphalt/Blacktop
  • Roofing: Comp Shingle
  • Sale Includes: Land & Building
  • Sewer: Sewer - Public, Sewer-In & Connected
  • Special Listing Conditions: Incorporated Area
  • Tenant Pays: Electric, Cable TV
  • Water: Master Meter, City Franchise
  • Sold Price: 714000.00
  • Sold Date: 2019-07-17
Courtesy of Grace CRE


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