1106 E WEBER Drive 1033, Tempe, AZ 85288 (MLS# 5954603)

1106 E WEBER Drive 1033, Tempe, AZ 85288

$7,450,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $7,450,000 Last Modified: 7/06/2022

Overview

Description

Like the coveted town in Orange County, The Newport is created to be a lifestyle community combining the relaxed, connective vibe of the people with the modern, urban architecture found in coastal California. Upon arriving at The Newport, one will notice the clean-lined architectural design, replete with great articulation, varied materials including corrugated metal, cementitious wood, and smooth stucco that blend artistically to remind you that Tempe is a changin'. The interiors are an eclectic mix of mid-century modern that allow you an embracing and warm feel, or chic, minimalist modern California beach house. The community boasts SRP GoldStar rating for the highest in energy efficiency.

Supplements: The Newport features a portfolio of 17-single family detached fee-simple homes in an exclusive 38-home community located in a dynamic Tempe Town Lakes location that was built between 2015 and 2018. 16 of the 17 homes in the offering are fully furnished with designer finishes and include all living necessities for Airbnb and are on a master-lease a ... (Read more)

Listing Details MLS# 5954603

Location, Tax & Legal

Map Code/Grid: Q37
House Number: 1106
Compass: E
Street Name: WEBER
St Suffix: Drive
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85288
Zip4: 0919
County Code: Maricopa
Subdivision: NEWPORT AT TEMPE
Assessor Number: 132-10-113
Tax Year: 2018
Unit #: 1033
Assessor's Map #: 10
Legal Description (Abbrev): LOT 2 NEWPORT AT TEMPE MCR 118037
Assessor's Parcel #: 113
Add'l Parcels: Yes
Tax Municipality: Maricopa - COUNTY
Census Tract: 318400
Taxes: 57000
Legal: LOT 2 NEWPORT AT TEMPE MCR 118037
Marketing Name: The Newport

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 2.30
Year Built: 2017
Total # of Units: 17
# of Buildings: 17
Zoning: R1-Pad
Elementary School District: Scottsdale Unified District
High School District: Tempe Union High School District
Uncvrd Parking Spcs: 0

Status Change Info

Off Market Date: 2019-09-23
Under Contract Date: 2019-09-20
Close of Escrow Date: 2019-12-31

Legal Info

Township: 1N
Range: 4E
Section: 11
Lot Number: 2

More Information

Income Expenses

Gross Annual Sch Inc: 616800
Net Operating Income: 478256

2 Bedroom Units

# 2 Bedroom Units: Yes
Avg Rent: 3050
Avg SqFt: 1702
# Baths: 4

3 Bedrooms Units

# 3 Bedroom Units: 16
Avg Rent: 3050
Avg SqFt: 1737
# Baths: 4

Contact Info

List Agent Home Phn: 602-735-5634

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

13 - 24 Units: Yes

Construction

Wood Frame: Yes

Const - Finish

Painted: Yes
Stucco: Yes
Siding: Yes

Roofing

Built-Up: Yes

Floors

Ceramic Tile: Yes
Carpet: Yes

Sale Includes

Land & Building: Yes

Income & Expenses

Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 0
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 0
Annual Mgmt Exp: 0
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 0
Owner Association: Yes
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 57000
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 616800

Pmt & Rate Info

Cap Rate: 6.42
Down Payment: 0
Equity: 7450000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0

Showing Notification Methods

Email: Yes

Lockbox Type

None: Yes

Community Features

Pool: Yes
Spa(s): Yes
Clubhouse: Yes
Exercise Room: Yes
Game/Rec Room: Yes
Sport Court: Yes

Heating

Electric: Yes
Individual: Yes
ENERGY STAR Qualified Equipment: Yes

Cooling

Ceiling Fan(s): Yes
ENERGY STAR Qualified Equipment: Yes
Central Air: Yes
Electric: Yes
Individual: Yes

Exterior Amenities

Landscape Water System: Yes
Patio/Balcony: Yes

Interior Features

Furnished: Yes
Fire/Smoke Alarm(s): Yes
Fire Sprinklers: Yes

Tenant Pays

Water: Yes
Sewer: Yes
Electricity: Yes
Trash Collection: Yes
Cable TV: Yes

Appliances Included

Dishwasher: Yes
Disposal: Yes
Microwave: Yes
Refrigerator: Yes
Built-In Range: Yes
Washer/Dryer: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes

Water Source

City Franchise: Yes
Individual Meter: Yes

Sewer

Sewer - Public: Yes

Parking Features

Garage: Yes
>1 Space Per Unit: Yes
Attached: Yes

Electric

SRP: Yes
Individual Meter: Yes

Gas

City Gas: Yes

Owner Pays

Gas: Yes
Landscaping: Yes
Pool Maintenance: Yes

New Financing

Conventional: Yes
Other (See Remarks): Yes

Existing 1st Loan

Treat as Free&Clear: Yes

Existing 1st Loan Type

Not Applicable: Yes

Existing 1st Loan Terms

Not Applicable: Yes

Existing 2nd Loan

Treat as Free&Clear: Yes

Existing 2nd Loan Type

Not Applicable: Yes

Existing 2nd Loan Terms

Not Applicable: Yes

Existing 3rd Loan

Treat as Free&Clear: Yes

Existing 3rd Loan Type

Not Applicable: Yes

Reports/Disclosures

None: Yes

Existing 3rd Loan Terms

Not Applicable: Yes

Environmental

None: Yes

Existing Othr Ln Trm

Not Applicable: Yes

Efficiency Units

Avg Rent: 0

1 Bedroom Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: 13 - 24 Units Construction: Wood Frame Const - Finish: Painted; Stucco; Siding Roofing: Built-Up Floors: Ceramic Tile; Carpet Sale Includes: Land & Building Community Features: Pool; Spa(s); Clubhouse; Exercise Room; Game/Rec Room; Sport Court Exterior Amenities: Landscape Water System; Patio/Balcony Interior Features: Furnished; Fire/Smoke Alarm(s); Fire Sprinklers Appliances Included: Built-In Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer Heating: Individual; ENERGY STAR Qualified Equipment Cooling: Ceiling Fan(s); Electric; Individual; Central Air; ENERGY STAR Qualified Equipment Water Source: City Franchise; Individual Meter Sewer: Sewer - Public Electric: SRP; Individual Meter Gas: City Gas Parking Features: Garage; >1 Space Per Unit; Attached Road Surface Type: Asphalt Owner Pays: Gas; Landscaping; Pool Maintenance Tenant Pays: Water; Sewer; Electricity; Trash Collection; Cable TV Source of Fincl Data: Owner Showing Notification Methods: Email 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: Treat as Free&Clear Existing 2nd Loan Type: Not Applicable Existing 2nd Loan Terms: Not Applicable Existing 3rd Loan: Treat as Free&Clear Existing 3rd Loan Type: Not Applicable Existing 3rd Loan Terms: Not Applicable Existing Othr Ln Trm: Not Applicable New Financing: Conventional; Other (See Remarks) Environmental: None

Listing Office: CBRE, Inc

Last Updated: July - 06 - 2022