1917 E Broadway Road, Tempe, AZ 85282 (MLS# 6029583)

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: Each townhouse apartment has an open concept floor plan with expansive nine-foot ceilings, quartz countertops, stainless steel appliances, custom cabinetry, full-size side-by-side washers and dryers, wood plank flooring throughout, designer paint, and many other luxury home touches.The extensive property renovations include all new roofs, dual-pane ... (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
Country: US
County Code: Maricopa
Assessor Number: 133-51-067-B
Tax Year: 2019

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

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

Income Expenses

Gross Annual Sch Inc: 399540
Net Operating Income: 323972

Sold Info

Loan Type: Conventional
Loan Years: 30
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $

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

1917 E Broadway Road, Tempe, AZ 85282 (MLS# 6029583)