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2325 W GARDEN Drive, Tempe, AZ 85282 (MLS# 5956710)
$5,050,000
2325 W GARDEN DriveTempe, AZ 85282
MLS# 5956710
Status: Closed
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Property Description
Colonial Park is a twenty-one-unit apartment community centrally located between the highly desirable Ahwatukee + North Tempe submarkets. Developed in 1988, the property is comprised of spacious two- and three-bedroom single family detached homes as well as two-story townhome style units with direct access two-car garages. Five units have undergone interior renovations to include modernized kitchens and bathroom.Additional improvements include new ground-mounted HVAC units, artificialturf landscaping, and a re-paved parking lot. Future ownership will have the opportunity to continue interior renovations in order to achieve a suggested $250 monthly renovation premium. Furthermore, residents are granted access to the thriving employment growth surrounding Phoenix, Sky Harbor and Tempe.
Details
Maps
Contract Info
Current Price: $4,900,000
List Price: $5,050,000
Status: Closed
List Date: 2019-07-25
Ownership: Fee Simple
Location Tax Legal
Map Code/Grid: R36
House Number: 2325
Compass: W
Street Name: GARDEN
St Suffix: Drive
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85282
Zip4: 6129
County Code: Maricopa
Subdivision: SVOB PARK TOWNHOMES LOT 1-26 TR A-E
Assessor Number: 123-22-579
Tax Year: 2018
General Property Description
Lot Size Dimensions: 1.92
Year Built: 1988
Uncvrd Parking Spcs: 46
Total # of Units: 21
# of Buildings: 17
Zoning: R1-4
Elementary School District: Tempe Elementary School District
High School District: Tempe Union High School District
Remarks Misc
Cross Street: 48th street and Baseline
Geo Lat: 33.385137
Geo Lon: -111.972507
Status Change Info
Off Market Date: 2019-09-04
Under Contract Date: 2019-09-02
Close of Escrow Date: 2019-11-29
Sold Price: 4900000
Legal Info
Township: 1N
Range: 4E
Section: 32
Lot Number: 1
Income Expenses
Gross Annual Sch Inc: 361680
Net Operating Income: 252315
2 Bedroom Units
# 2 Bedroom Units: 3
Avg Rent: 1328
Avg SqFt: 1271
# Baths: 2
3 Bedrooms Units
# 3 Bedroom Units: 18
Avg Rent: 1456
Avg SqFt: 1442
# Baths: 2
Sold Info
Loan Type: Conventional
Loan Years: 30
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: %
Seller Concession $/%: %
Property Features
Project Type: 13 - 24 Units
Other Type: House + Rental Units; Packaged Offering
Construction: Wood Frame
Const - Finish: Painted; Siding
Roofing: Composition
Floors: Ceramic Tile; Carpet
Sale Includes: Land & Building
Community Features: Pool
Exterior Amenities: Green Landscaping
Interior Features: Unfurnished; Fire/Smoke Alarm(s); Vertical Blinds; Mini Blinds; Drapes; Breakfast Bar
Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Microwave
Heating: Natural Gas; Individual
Cooling: Ceiling Fan(s); Individual
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: SW Gas
Parking Features: Garage; >1 Space Per Unit
Road Surface Type: Asphalt
Owner Pays: None
Tenant Pays: Water; Electricity; Gas
Source of Fincl Data: Owner
Showing Notification Methods: Text; Email; Phone Call
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: Other (See Remarks)
Existing 2nd Loan Type: Not Applicable
Existing 2nd Loan Terms: Not Applicable
Existing 3rd Loan: Other (See Remarks)
Existing 3rd Loan Type: Not Applicable
Existing 3rd Loan Terms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Other (See Remarks)
Environmental: None
Supplements
17 of the units are Single Family Homes , 5 of the units are 2 story attached townhomes. See address schedule in documents
Listing Office: Platinum Living Realty
Last Updated: February - 03 - 2025
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