$749,000
Tempe, AZ 85282
MLS# 5941236
Status: Closed
1 / 22
Property Description
HUGE PRICE DROP FOR QUICK SALE. 501 East Broadway is a unique, bite-sized development opportunity in the heart of Tempe, Arizona, minutes from the largest university in the nation. The site is located on the major arterial, Broadway Road, and a couple blocks from College Avenue which leads directly into the Arizona State University campus. It is also a short walk / bike ride located less than 3/4 of a mile away. Additionally the site is approximately one mile to the nearest light rail station and minutes from the vibrant Mill Avenue corridor. The location is as central is it gets and allows residents to enjoy, with ease, so much of what Tempe has to offer: The ASU campus, Tempe Marketplace, access to the 101 Freeway, and Tempe Beach Park all just minutes away.
Details
Maps
Contract Information
Current Price: $650,000
List Price: $749,000
Status: Closed
List Date: 2019-06-16
For Sale or Lease?: Sale
Type: ER
Subagents: N
Buyer/Broker: Y
Buyer Broker $/%: %
Comp to Buyer Broker: 3
Variable Commission: N
Location, Tax & Legal
Map Code/Grid: R37
House Number: 501
Compass: E
Street Name: BROADWAY
St Suffix: Road
Lot #: -
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85282
Zip4: 1406
Country: USA
County Code: Maricopa
Assessor's Map #: 25
Assessor's Parcel #: 2
Assessor Parcel Ltr: C
Add'l Parcels: No
Assessor Number: 133-25-002-C
Legal Description (Abbrev): S 210F OF N 265F OF E 296F OF W 306F OF W2 NE4 NE4 SEC 27 EX W 120F TH/OF & EX S 100F OF N 155F OF E
Census Tract: 319600
Tax Municipality: Tempe
Taxes: 6037
Tax Year: 2018
General Property Description
Apx Total Acres: 0.71
Apx Total Acres G/N: G
Price Per Acre: 1054929.58
# Units Allowed: 7
Apx SqFt: 30928
Price Per SqFt: 24.22
Apx SqFt G/N: G
Lot Size Dimensions: 210x176 less 60x100
Zoning: RO
Elementary School District: Tempe Elementary School District
High School District: Tempe Union High School District
Remarks & Misc
Cross Street: Rural & Broadway
Directions: West on Broadway to property on south side of street.
Geo Lat: 33.407007
Geo Lon: -111.929908
Status Change Info
Status Change Date: 2019-11-19
Off Market Date: 2019-11-19
Under Contract Date: 2019-11-11
Close of Escrow Date: 2019-11-18
Sold Price: 650000
Legal Info
Township: 1N
Range: 4E
Section: 27
Lot Number: -
Pmt & Rate Info
Equity: 800000
Assoc/Prop Info
HOA Y/N: N
PAD Fee Y/N: N
HOA 2 Y/N: N
Sold Info
Loan Type: Cash
Closing Cost Split: Normal - N
Payment Type: Other
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Special Listing Cond: N/A
Existing Land Use: Residential Lot; Commercial Lot; Other (See Rmks)
Zoned Presently: Other (See Rmks)
Potential Use: Single Family; Multi-Family; Commercial; Office; Other; See Remarks
Parcel Size: .50 - .99 Acres
Current Density: 06 - 10 Units P/Acre
Development Status: Raw Land; Other; See Remarks
Water: Other; See Remarks
Sewer: Other (See Remarks)
Electric: Other (See Rmks)
Gas: Other (See Rmks)
Distance to Cable: Within 1/2 Mile
Distance to Phone: Within 1/2 Mile
Distance to Water: Within 1/2 Mile
Distance to Electric: Within 1/2 Mile
Distance to Gas: Within 1/2 Mile
Distance to Sewer: Within 1/2 Mile
Existing 1st Loan: Treat as Free&Clear
Existing 1st Ln Type: Not Applicable
Existing 1st Ln Trms: Not Applicable
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Ln Type: Not Applicable
Existing 2nd Ln Trms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Ln Type: Not Applicable
Existing 3rd Ln Trms: Not Applicable
Existing Other Loan: Not Applicable
New Financing: Conventional; 1031 Exchange; Other (See Rmks)
Reports/Disclosures: None; Other (See Rmks)
Environmental: None
Showing Notification Methods: No Notification Required to Show
Lockbox Type: None
Supplements
This area of Tempe is not only popular because of the university but because it's also one of the most desirable areas in all of Arizona to live and work. The 501 East Broadway development opportunity consists of 0.71 acres of land zoned Residential-Office (R-O). Given its location along a major arterial, all off-site improvements are in place an all utilities are to the site. The location and zoning offers a number of options for an investor/
developer, with a small residential development or office complex
being good options. This site would be ideal for: A small residential
for-sale product, small rental community, office complex, or business location for an end-user. Tempe continues to be one of the most sought after submarkets for new multifamily-residential and mixed-use development due to its proximity to the largest university in the nation, its tremendous employment opportunities, and its convenient, centralized location in the heart of the metroplex. Significant employers in proximity to the property include Arizona State University, General Dynamics, U.S. Airways, Amazon, Microsoft, State Farm, and First Solar.
Listing Office: ABI Multifamily
Last Updated: November - 20 - 2019
Copyright 2024 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.
Saturday 20th of April 2024 02:18 AM