1917 E Broadway Road, Tempe, AZ 85282
$4,975,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$4,975,000
Last Modified:
2/15/2025
Overview
Description
Situated along the frontage of Broadway Road in the heart of Tempe and the
southeast valley of Metro Phoenix, The Harlow presents a rare opportunity to
acquire a low-density 27-unit, completely renovated, luxury one- and two-story
apartment community that provides today's renters with a truly unique rental
experience. Built in 1963 using block construction, The Harlow consists of
20,550 square feet of rental space with an 761 square foot per unit average.
The property is individually metered for utilities with (19) two-bedroom
townhouse style units, (2) two-bedroom/two-bathroom units and (6)
one-bedroom/one-bathroom units.
Supplements: ... (Read more)
Listing Details MLS# 6029583
Location, Tax & Legal
- Map Code/Grid
- R37
- House Number
- 1917
- Compass
- E
- Street Name
- Broadway
- St Suffix
- Road
- City/Town Code
- Tempe
- State/Province
- AZ
- Zip Code
- 85282
- County Code
- Maricopa
- Assessor Number
- 133-51-067-B
- Tax Year
- 2019
- Assessor's Map #
- 51
- Assessor's Parcel #
- 67
- Assessor Parcel Ltr
- B
- Add'l Parcels
- Yes
- Tax Municipality
- Tempe
- Taxes
- 15012
- Legal
- provided by title company
- Marketing Name
- The Harlow
Contract Info
- Ownership
- Fee Simple
General Property Description
- Lot Size Dimensions
- unknown
- Year Built
- 1963
- Uncvrd Parking Spcs
- 40
- Total # of Units
- 27
- # of Buildings
- 5
- Zoning
- MF
- Elementary School District
- Tempe Elementary School District
- High School District
- Tempe Union High School District
Remarks Misc
- Cross Street
- Broadway and McClintock
- Directions
- East to property.
Status Change Info
- Off Market Date
- 2020-09-30
- Under Contract Date
- 2020-09-30
- Close of Escrow Date
- 2020-10-27
Legal Info
- Lot Number
- -
More Information
Income Expenses
- Gross Annual Sch Inc
- 399540
- Net Operating Income
- 323972
1 Bedroom Units
- # 1 Bedroom Units
- 6
- Avg Rent
- 950
- Avg SqFt
- 500
- # Baths
- Yes
2 Bedroom Units
- # 2 Bedroom Units
- 21
- Avg Rent
- 850
- Avg SqFt
- 850
- # Baths
- 15
Sold Info
- Loan Type
- Conventional
- Loan Years
- 30
- Payment Type
- Fixed
- Closing Cost Split
- Normal - N
- Buyer Concession $/%
- $
- Seller Concession $/%
- $
- Buyer Concession to Seller
- 0
- Seller Concession to Buyer
- 0
Project Type
- 25 - 50 Units
- Yes
Construction
- Block
- Yes
- Wood Frame
- Yes
Const - Finish
- Painted
- Yes
- Stucco
- Yes
Roofing
- Composition
- Yes
Floors
- Vinyl
- Yes
Sale Includes
- Land & Building
- Yes
Income & Expenses
- Annual Elec Exp
- 2400
- Annual Gas Exp
- 0
- Annual Ins Exp
- 3564
- Annual Land Lse Exp
- 0
- Annual Landscape Exp
- 4000
- Annual Legal & Acctg
- 5400
- Annual Maint Exp
- 6750
- Annual Mgmt Exp
- 24475
- Annual Trash Exp
- 2400
- Annual Wtr/Swr Exp
- 11981
- Owner Association
- No
- Annual Ownr Asoc Fee
- 0
- Annual PAD Fee
- 0
- Annual Rplcmnt Rsrvs
- 6750
- Annual Other Expense
- 1212
- Operating Exp
- 83944
- Other Income
- 43539
- Vacancy Allowance
- 0.05
- Adjusted Gross Inc
- 420925.05
Pmt & Rate Info
- Cap Rate
- 6.17
- Down Payment
- 0
- Equity
- 5250000
- Down Payment %
- 0
- Monthly Payments
- 0
- Total Owed
- 0
- Assessment Balance
- 0
Showing Notification Methods
- Text
- Yes
- Yes
- Phone Call
- Yes
Lockbox Type
- None
- Yes
Community Features
- Pool
- Yes
- Manager Res/Office
- Yes
Heating
- Electric
- Yes
Cooling
- Electric
- Yes
Tenant Pays
- Electricity
- Yes
Appliances Included
- Dishwasher
- Yes
- Disposal
- Yes
- Microwave
- Yes
- Refrigerator
- Yes
- Free-Standing Range
- Yes
- Trash Compactor
- Yes
- Washer/Dryer
- Yes
Road Surface Type
- Asphalt
- Yes
Source of Fincl Data
- Owner
- Yes
Water Source
- City Franchise
- Yes
Sewer
- Sewer - Public
- Yes
Parking Features
- Garage
- Yes
- >1 Space Per Unit
- Yes
Electric
- SRP
- Yes
Gas
- None
- Yes
Owner Pays
- Water
- Yes
- Sewer
- Yes
- Trash Collection
- Yes
- Other
- Yes
New Financing
- Conventional
- Yes
Existing 1st Loan
- Other (See Rmks)
- Yes
Existing 1st Loan Type
- Not Applicable
- Yes
Existing 1st Loan Terms
- Not Applicable
- Yes
Existing 2nd Loan
- Other (See Remarks)
- Yes
Existing 2nd Loan Type
- Not Applicable
- Yes
Existing 2nd Loan Terms
- Not Applicable
- Yes
Existing 3rd Loan
- Other (See Remarks)
- Yes
Existing 3rd Loan Type
- Not Applicable
- Yes
Reports/Disclosures
- Other (See Remarks)
- Yes
Existing 3rd Loan Terms
- Not Applicable
- Yes
Environmental
- Other (See Remarks)
- Yes
Existing Othr Ln Trm
- Not Applicable
- Yes
Efficiency Units
- Avg Rent
- 0
3 Bedrooms Units
- Avg Rent
- 0
4 Bedrooms Units
- Avg Rent
- 0
Property Features
Project Type:
25 - 50 Units
Construction:
Block; Wood Frame
Const - Finish:
Painted; Stucco
Roofing:
Composition
Floors:
Vinyl
Sale Includes:
Land & Building
Community Features:
Pool; Manager Res/Office
Appliances Included:
Free-Standing Range; Refrigerator; Dishwasher; Disposal; Trash Compactor; Microwave; Washer/Dryer
Cooling:
Electric
Water Source:
City Franchise
Sewer:
Sewer - Public
Electric:
SRP
Gas:
None
Parking Features:
Garage; >1 Space Per Unit
Road Surface Type:
Asphalt
Owner Pays:
Water; Trash Collection; Other
Tenant Pays:
Electricity
Source of Fincl Data:
Owner
Showing Notification Methods:
Text; Email; Phone Call
Lockbox Type:
None
Existing 1st Loan:
Other (See Rmks)
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:
Conventional
Environmental:
Other (See Remarks)
Listing Office:
ABI Multifamily
Last Updated: February - 15 - 2025
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