$1,795,000
Tempe, AZ 85281
MLS# 6993853
1 / 17
Property Description
Located just steps from one of the Valley's busiest commuter routes and adjacent to the vibrant campus of Arizona State University, Roosevelt Place (''the Property'') offers a differentiated multifamily opportunity highlighted by its refreshed exterior and high-end interior upgrades. Delivered in 1955, the asset is ideally situated to capture sustained demand generated by ASU's sizable student enrollment, along with the growing concentration of young professionals driving momentum in North Tempe and around Tempe Town Lake, each within a short one-mile distance. The scarcity of comparable boutique, garden-style communities in a submarket experiencing layered growth dynamics positions Roosevelt Place as a highly attractive acquisition prospect.
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $1,795,000
List Price: $1,795,000
Status: Active
List Date: 2026-03-05
Location, Tax & Legal
Assessor's Map #: 34
Assessor's Parcel #: 9
Assessor Parcel Ltr: B
Add'l Parcels: No
Tax Municipality: Maricopa - COUNTY
Taxes: 3089
Legal: STATE PLAT 12 AMD LOT 23E S 90ft OF N 240ft OF E 175ft .36 AC
Marketing Name: Roosevelt Place
House Number: 604
Compass: S
Street Name: Roosevelt
St Suffix: Street
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85281
County Code: Maricopa
Assessor Number: 124-34-009-B
Tax Year: 2025
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 7
Lot Size Dimensions: 15,682 sq ft.
Total # of Units: 9
Year Built: 1955
Zoning: R-3
Project Type
5 - 12 Units: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Foam: 1
Floors
Vinyl: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 6099
Annual Ins Exp: 3500
Annual Landscape Exp: 1763
Annual Legal & Acctg: 350
Annual Maint Exp: 11514
Annual Mgmt Exp: 6271
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual Rplcmnt Rsrvs: 2700
Annual Other Expense: 4175
Operating Exp: 39461
Other Income: 8565
Vacancy Allowance: 0.05
Adjusted Gross Inc: 126229.35
Pmt & Rate Info
Cap Rate: 4.78
Equity: 1795000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: No Showing Service Used
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Electric: 1
Cooling
Electric: 1
Tenant Pays
Water: 1
Sewer: 1
Appliances Included
Built-In Electric Oven: 1
Dishwasher: 1
Refrigerator: 1
Washer/Dryer: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Projected Proforma: 1
Water Source
Master Meter: 1
Sewer
Sewer - Public: 1
Parking Features
>1 Space Per Unit: 1
Electric
SRP: 1
Gas
None: 1
Owner Pays
Electric: 1
Landscaping: 1
New Financing
Cash: 1
Conventional: 1
No Carry: 1
1031 Exchange: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 9
Avg Rent: 1151
Avg SqFt: 465
# Baths: 9
2 Bedroom Units
Avg Rent: 0
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Geo Lat: 33.423766
Geo Lon: -111.947653
Legal Info
Lot Number: 23E
Income Expenses
Gross Annual Sch Inc: 124308
Net Operating Income: 85799
Property Features
Project Type: 5 - 12 Units
Construction: Block
Const - Finish: Painted
Roofing: Foam
Floors: Vinyl
Sale Includes: Land & Building
Community Features: No Pool
Appliances Included: Built-In Electric Oven; Refrigerator; Dishwasher; Washer/Dryer
Cooling: Electric
Water Source: Master Meter
Sewer: Sewer - Public
Electric: SRP
Gas: None
Parking Features: >1 Space Per Unit
Road Surface Type: Asphalt
Owner Pays: Electric; Landscaping
Tenant Pays: Water; Sewer
Source of Fincl Data: Owner; Projected Proforma
Lockbox Type: None
New Financing: Cash; Conventional; No Carry; 1031 Exchange
Environmental: None
Listing Office: Marcus & Millichap
Last Updated: March - 05 - 2026
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