1150 E ORANGE Street, Tempe, AZ 85281 (MLS# 6166813)

1150 E ORANGE Street, Tempe, AZ 85281

$1,855,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $1,855,000 Last Modified: 5/04/2026

Overview

Description

Welcome to Seven on Orange Townhomes in the heart of Tempe. This property features a total of six large one bedroom one bath townhomes and one 2 bedroom one bath townhome. Property has a newer roof and central air conditioners. Current seller is replacing the main sewer lines to the main, repaving parking lot, new paint, adding separate yards to all the units with new fencing within the next 30 days. Three of the units have been updated and four are in original condition. Current on site laundry is leased but not on a current lease. All tenants have been given notice of 30 days to start raising the current rental rates. Rents were way below market at 700-850. Proforma rents once value add in place 1,150-1,250 for the ones and two bedroom 1,350-1,450.

Supplements: All facts and figures are approximate buyer to verify MLS information

Listing Details MLS# 6166813

Location, Tax & Legal

Map Code/Grid: R37
House Number: 1150
Compass: E
Street Name: ORANGE
St Suffix: Street
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
Zip4: 4132
Country: US
County Code: Maricopa
Assessor Number: 132-73-063-B
Tax Year: 2020
Assessor's Map #: 73
Legal Description (Abbrev): PT E2 NW4 BEG SE COR TERRACE PK UNIT 1 TH S 88D 43' 30
Assessor's Parcel #: 63
Assessor Parcel Ltr: B
Add'l Parcels: No
Tax Municipality: Tempe
Census Tract: 319103
Taxes: 4883
Legal: N/A
Marketing Name: Seven on Orange Townhomes

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: IRR
Year Built: 1962
Uncvrd Parking Spcs: 6
Total # of Units: 7
# of Buildings: Yes
Zoning: R-4
Elementary School District: Tempe Elementary School District

Remarks Misc

Cross Street: University and Rural
Directions: University to Rural, S. on Rural to Terrace, E. on Terrace to Orange, E. to property.

Status Change Info

Off Market Date: 2021-04-06
Under Contract Date: 2021-04-06
Close of Escrow Date: 2021-05-12

Legal Info

Township: 1N
Range: 4E
Section: 23
Lot Number: Yes

More Information

Income Expenses

Gross Annual Sch Inc: 103200
Net Operating Income: 74057

1 Bedroom Units

# 1 Bedroom Units: 6
Avg Rent: 1200
Avg SqFt: 722
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: Yes
Avg Rent: 1400
Avg SqFt: 960
# Baths: Yes

Sold Info

Loan Type: Cash
Payment Type: Other
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Buyer Concession to Seller: 0
Seller Concession to Buyer: 0

Project Type

5 - 12 Units: Yes

Construction

Block: Yes
Wood Frame: Yes
Brick: Yes

Const - Finish

Painted: Yes
Stucco: Yes
Brick Veneer: Yes

Roofing

Built-Up: Yes

Floors

Concrete: Yes
Vinyl: Yes
Wood: Yes
Ceramic Tile: Yes
Carpet: Yes
Other: Yes

Sale Includes

Land & Building: Yes
Personal Property: Yes

Income & Expenses

Annual Elec Exp: 1000
Annual Gas Exp: 900
Annual Ins Exp: 2500
Annual Land Lse Exp: 0
Annual Landscape Exp: 1000
Annual Legal & Acctg: 0
Annual Maint Exp: 4500
Annual Mgmt Exp: 5500
Annual Trash Exp: 1200
Annual Wtr/Swr Exp: 3500
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 24983
Other Income: 1000
Vacancy Allowance: 0.05
Adjusted Gross Inc: 98990
Total Monthly Rental Income: 8600

Pmt & Rate Info

Cap Rate: 5.16
Equity: 1435000
Down Payment %: 100
Monthly Payments: 0
Total Owed: 0

Showing Notification Methods

Phone Call: Yes

Community Features

No Pool: Yes
Barbecue: Yes

Heating

Electric: Yes
Natural Gas: Yes
Individual: Yes

Cooling

Electric: Yes
Individual: Yes

Exterior Amenities

Landscape Water System: Yes
Green Landscaping: Yes
Desert Landscaping: Yes
Partially Fenced: Yes
Curb(s) & Gutter(s): Yes
Cable TV Available: Yes
Sidewalk(s): Yes

Interior Features

Unfurnished: Yes
Fire/Smoke Alarm(s): Yes

Tenant Pays

Water: Yes
Electricity: Yes
Cable TV: Yes

Appliances Included

Dishwasher: Yes
Microwave: Yes
Refrigerator: Yes
Built-In Range: Yes
Free-Standing Range: Yes
W/D Hookup: Yes

Road Access Type

Alley: Yes
Dedicated Street: Yes

Road Surface Type

Asphalt: Yes
Concrete: Yes

Source of Fincl Data

Projected Proforma: Yes
Other (See Remarks): Yes

Water Source

City Franchise: Yes
Private: Yes

Sewer

Sewer - Public: Yes

Parking Features

Carport: Yes
Free: Yes
On Street: Yes
<1 Space Per Unit: Yes
1 Space/Unit: Yes
Paved: Yes

Electric

APS: Yes

Gas

SW Gas: Yes

Owner Pays

Water: Yes
Sewer: Yes
Electric: Yes
Gas: Yes
Trash Collection: Yes
Landscaping: Yes

New Financing

Cash to Loan: Yes
Conventional: Yes
No Carry: Yes
1031 Exchange: Yes

Reports/Disclosures

None: Yes

Environmental

None: Yes

Efficiency Units

Avg Rent: 0

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: 5 - 12 Units Construction: Block; Wood Frame; Brick Const - Finish: Painted; Stucco; Brick Veneer Roofing: Built-Up Floors: Concrete; Vinyl; Wood; Ceramic Tile; Carpet; Other Sale Includes: Land & Building; Personal Property Community Features: No Pool; Barbecue Exterior Amenities: Landscape Water System; Green Landscaping; Desert Landscaping; Partially Fenced; Curb(s) & Gutter(s); Cable TV Available; Sidewalk(s) Interior Features: Unfurnished; Fire/Smoke Alarm(s) Appliances Included: Built-In Range; Free-Standing Range; Refrigerator; Dishwasher; Microwave; W/D Hookup Heating: Natural Gas; Individual Cooling: Electric; Individual Water Source: City Franchise; Private Sewer: Sewer - Public Electric: APS Gas: SW Gas Parking Features: Carport; On Street; <1 Space Per Unit; 1 Space/Unit; Free; Paved Road Access Type: Alley; Dedicated Street Road Surface Type: Asphalt; Concrete Owner Pays: Water; Electric; Gas; Trash Collection; Landscaping Tenant Pays: Water; Electricity; Cable TV Source of Fincl Data: Projected Proforma; Other (See Remarks) Showing Notification Methods: Phone Call New Financing: Cash to Loan; Conventional; No Carry; 1031 Exchange Environmental: None

Listing Office: Grace CRE

Last Updated: May - 04 - 2026