1224 E SPENCE Avenue, Tempe, AZ 85281

$640,000

1224 E SPENCE Avenue
Tempe, AZ 85281
MLS# 6565539
2 beds | 1 baths

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Property Description
INVESTORS DEVELOPERS PRIME LOCATION in Tempe, R4 MULTI FAMILY ZONING. Qualified Opportunity Zone, Transit oriented development corridor, 5 unit density; Excellent opportunity for a rental property, future development or residence with large yard in Tempe. This is a highly valuable ASSET in any portfolio with a rentable/livable single-family home and endless possibilities for the R4 yard. The existing block house is a WW2 era gem with slab floors and brick walls. Built to last! The original home of 900 sq ft has been added on with two bonus rooms in the now-enclosed carport. The zoning is already in place, with the city in support of higher density housing possibilities for HIGHEST AND BEST USE. This is a well-loved home with lots of charm in walking distance to ASU.

Details

Contract Information

Status Change Date: 2023-06-06

List Price: $640,000

Status: Active

Current Price: $640,000

List Date: 2023-06-06

Type: ER

Ownership: Fee Simple

Co-Ownership (Fractional) Agreement YN: No

Subagents: Y

Sub Agent $/%: %

Comp to Subagent: 3.25

Buyer/Broker: Y

Buyer Broker $/%: %

Comp to Buyer Broker: 3.25

Variable Commission: N

Location, Tax & Legal

Map Code/Grid: R37

House Number: 1224

Compass: E

Street Name: SPENCE

St Suffix: Avenue

City/Town Code: Tempe

State/Province: AZ

Zip Code: 85281

Zip4: 5812

Country: USA

County Code: Maricopa

Assessor's Map #: 9

Assessor's Parcel #: 6

Assessor Number: 133-09-006

Legal Description (Abbrev): LOT 6 ATTEBERY TRACT MCR 005619

Subdivision: ATTEBERY TRACT

Tax Municipality: Tempe

Taxes: 736

Tax Year: 2022

General Property Description

Dwelling Type: Single Family - Detached

Dwelling Styles: Attached

Exterior Stories: 1

# of Interior Levels: 1

# Bedrooms: 2

# Bathrooms: 1

Approx SQFT: 1300

Price/SqFt: 492.31

Horses: N

Builder Name: UNK

Year Built: 1953

Lead Based Hazard Disclosure: No

Approx Lot SqFt: 9148

Approx Lot Acres: 0.21

Flood Zone: No

Pool: None

Elementary School: Curry Elementary School

Jr. High School: Connolly Middle School

High School: McClintock High School

Elementary School District: Tempe Elementary School District

High School District: Tempe Union High School District

Remarks & Misc

Cross Street: Rural Avenue, Apache Blvd.

Directions: Take Rural to Spence Avenue and turn East. It is one block East of Terrace.

Geo Lat: 33.413158

Geo Lon: -111.919279

Legal Info

Township: 1N

Range: 4E

Section: 23

Lot Number: 6

Association & Fees

HOA Y/N: N

PAD Fee Y/N: N

Land Lease Fee Y/N: N

Basement

Basement Y/N: N

Separate Den/Office

Sep Den/Office Y/N: N

Showing Notification Methods

Showing Service: ShowingTime

Property Features

Special Listing Cond: N/A

Master Bathroom: Other (See Remarks)

Master Bedroom: Downstairs

Fireplace: No Fireplace

Flooring: Laminate; Wood

Pool Features: No Pool

Spa: None

Dining Area: Other (See Remarks)

Kitchen Features: Range/Oven Gas; Refrigerator

Laundry: Washer Included

Parking Features: Attch'd Gar Cabinets

Construction: Block; Other (See Remarks)

Const - Finish: Stucco

Roofing: Comp Shingle

Cooling: Ceiling Fan(s)

Heating: Natural Gas

Utilities: City Electric

Water: City Water

Sewer: Sewer - Public

Fencing: Other

Landscaping: None

Showing Notification Methods: Text; Email; Phone Call

Lockbox Type: None

Possession: Close of Escrow

Association Fee Incl: No Fees

Assoc Rules/Info: None

Existing 1st Loan: Treat as Free&Clear

New Financing: Cash; VA; FHA; Conventional

Disclosures: Seller Discl Avail

Supplements

I limited the space to reduce liability and use two rooms for my storage. The backyard is almost completely flat and ready to be developed with anything the city will approve. There are many infill projects in the neighborhood. I'm not interested in selling this home as "just" a single-family home due to the zoning and potential. Im also in no real hurry to sell it as it is an easy moneymaker. I'm just tired of being a landlady from a different state and have lost the desire to build or to live near ASU in my elder years.

Room Information