Tempe Cottages | 2301-2309 S College Ave
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Tempe Cottages 2301-2309 S College Ave
18 Unit Apartment Building $4,690,000 ($260,556/Unit) 5.11% Cap Rate Tempe, AZ 85282
Executive Summary
Located in the heart of Tempe, this 18-unit apartment complex presents a turnkey investment opportunity in a high-demand market. Situated just minutes from Arizona State University, downtown Tempe, major freeways, and public transit, this property's prime location attracts a steady stream of tenants for consistent rental income in a thriving metropolitan area.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $4,690,000 | Apartment Style | Garden |
| Price Per Unit | $260,556 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.65 AC |
| Cap Rate | 5.11% | Building Size | 11,034 SF |
| Gross Rent Multiplier | 15.44 | Average Occupancy | 100% |
| No. Units | 18 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1963 |
| Property Subtype | Apartment | Parking Ratio | 2.54/1,000 SF |
| Price | $4,690,000 |
| Price Per Unit | $260,556 |
| Sale Type | Investment |
| Cap Rate | 5.11% |
| Gross Rent Multiplier | 15.44 |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 0.65 AC |
| Building Size | 11,034 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1963 |
| Parking Ratio | 2.54/1,000 SF |
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Washer/Dryer
- Kitchen
- Granite Countertops
- Vaulted Ceiling
- Oven
- Stainless Steel Appliances
- Range
- Walk-In Closets
- Grill
- Double Pane Windows
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 18 | $1,595 | 613 |
Bike Score ®
Very Bikeable (82)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $56,694 (2025) | |
| Land Assessment | $0 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $0 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$0 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$56,694 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
zoning
| Zoning Code | R3R, Tempe |
| R3R, Tempe |
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Tempe Cottages | 2301-2309 S College Ave
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