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12902 W TARA Lane, Surprise, AZ 85374

$1,880,000
Status: Active
Current Price: $1,880,000 List Date: 10/06/2021 Last Modified: 11/29/2021

Description

Tara Lane Apartments is a 11 unit apartment community located in Surprise, Arizona. The property was built in three phases 1969, 1976 & 1985 and is situated on approximately 0.54 acres. Construction consists of brick and stucco. All units (except units E & H) are individually metered for Electric. All units (except units A, E & H) are individually metered for Water. Sewer and Trash are included in the monthly rent and paid by owner. The unit mix consists of (1) Studio, (2) 1 Bed/1 Bath units, (2) 2 Bed/1 Bath units and (6) 3 Bed/2 Bath units. Floor plans range from approximately 350 Sq. Ft. to 1,150 Sq. Ft. Tara Lane is landscaped with mature trees, desert plants and rock-scape. The Community offers assigned parking for each unit, washer/dryer hook ups and gated entry. DRIVE-BY ONLY!

More Information MLS# 6303631

Contract Info

Current Price: $1,880,000 List Price: $1,880,000 Status: Active List Date: 2021-10-06 Ownership: Fee Simple

Location, Tax & Legal

Map Code/Grid: L29 House Number: 12902 Compass: W Street Name: TARA St Suffix: Lane City/Town Code: Surprise State/Province: AZ Zip Code: 85374 Zip4: 4065 Country: USA County Code: Maricopa Legal Description (Abbrev): SURPRIZE AMD MCR 28-10 LOT 66-I EX N 140F & EX W 5F TH/OF Subdivision: SURPRIZE AMD Assessor's Map #: 21 Assessor's Parcel #: 31 Assessor Parcel Ltr: A Add'l Parcels: No Assessor Number: 501-21-031-A Legal: SURPRIZE AMD MCR 28-10 LOT 66-I EX N 140F & EX W 5F TH/OF Census Tract: 60801 Tax Municipality: Surprise Taxes: 2442 Tax Year: 2021 Marketing Name: Tara Lane Apartments

General Property Description

Lot Size Dimensions: na Year Built: 1974 Uncvrd Parking Spcs: 25 Total # of Units: 11 # of Buildings: 3 Zoning: SHD-RO Flood Zone: TBD Elem School Dist #: 089 - Dysart Unified District High School Dist #: 089 - Dysart Unified District

Remarks & Misc

Cross Street: Dysart Rd & Grand Ave Directions: South on Dysart Rd, East On Tara Ln. Geo Lat: 33.626583 Geo Lon: -112.337989

Status Change Info

Status Change Date: 2021-10-06

Legal Info

Township: 3N Range: 1W Section: 2 Lot Number: 66

Income & Expenses

Owner Association: No Annual Other Expense: 23449 Operating Exp: 25891 Gross Annual Sch Inc: 113340 Adjusted Gross Inc: 113340 Net Operating Income: 87449

Pmt & Rate Info

Cap Rate: 4.65 Equity: 1880000

Efficiency Units

# Efficiency Units: 1 Avg Rent: 500 Avg SqFt: 350 # Baths: 1

1 Bedroom Units

# 1 Bedroom Units: 2 Avg Rent: 825 Avg SqFt: 525 # Baths: 1

2 Bedroom Units

# 2 Bedroom Units: 2 Avg Rent: 725 Avg SqFt: 650 # Baths: 2

3 Bedrooms Units

# 3 Bedroom Units: 6 Avg Rent: 1000 Avg SqFt: 1150 # Baths: 2

Property Features

Project Type: 5 - 12 Units Construction: Block; Brick Const - Finish: Stucco Roofing: Comp Shingle Floors: Ceramic Tile Sale Includes: Land & Building; Personal Property Community Amenities: No Pool Exterior Amenities: Desert Landscaping; Fenced; Patio/Balcony Interior Amenities: Unfurnished Appliances Included: F/S Oven/Range; Refrigerator; Disposal; W/D Hookup Heating: Individual Cooling: Electric; Individual Water: City Franchise Sewer: Sewer - Public Electric: APS Gas: None Parking: Assigned Roads/Streets: Concrete; Sidewalk(s) Owner Pays: Other; See Remarks Tenant Pays: Other (See Remarks) Source of Fincl Data: Provided by Owner; Projected Proforma Existing 1st Loan: Treat as Free&Clear Existing 1st Ln Type: Not Applicable Existing 1st Ln Trms: Not Applicable Existing 2nd Ln Type: Not Applicable Existing 2nd Ln Trms: Not Applicable Existing 3rd Ln Type: Not Applicable Existing 3rd Ln Trms: Not Applicable Existing Othr Ln Trm: Not Applicable New Financing: Conventional; 1031 Exchange Reports/Disclosures: None Environmental: None
Listing Office: Cooper Cardinal and Company
Last Updated: November - 29 - 2021
12902 W TARA Lane, Surprise, AZ 85374- MLS# 6303631
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