$4,975,000
Tempe, AZ 85282
MLS# 6029583
Status: Closed
1 / 22
Property 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.
Details
Maps
Contract Info
Current Price: $4,975,000
Sold Price: $4,975,000
Status: Closed
List Date: 2020-01-28
Ownership: Fee Simple
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
County Code: Maricopa
Assessor Number: 133-51-067-B
Tax Year: 2019
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.
Geo Lat: 33.407156
Geo Lon: -111.903426
Status Change Info
Off Market Date: 2020-09-30
Under Contract Date: 2020-09-30
Close of Escrow Date: 2020-10-27
Sold Price: $4,975,000
Legal Info
Lot Number: -
Income Expenses
Gross Annual Sch Inc: 399540
Net Operating Income: 323972
1 Bedroom Units
# 1 Bedroom Units: 6
Avg Rent: 950
Avg SqFt: 500
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 21
Avg Rent: 850
Avg SqFt: 850
# Baths: 15
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)
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 doors and windows.
Other amenities include: ample parking, secure community with code entry
gates, enclosed dog park and swimming pools.The property also enjoys an
onsite management office allowing for convenient coordination with current
and prospective tenants.
Listing Office: ABI Multifamily
Last Updated: February - 15 - 2025
Copyright 2025 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.