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A GREAT INVESTMENT IN TEMPE NEXT TO ASU.....

3011963 ER Active / Multiple Dwellings LP: $ 1,490,000
1116 E Lemon ST Tempe 85281-		Bldg#:
Lot #: 503
Lot Size Dim: 11050
Area/Grid: 503 / R37		Hun Block: 1100E
Zoning: R-4		Photos: 1

Sperry Van Ness Mullin

Directions: Campus Lofts is located on the north side of Lemon Street, just east of Terrace Road.

This locale puts residents within walking distance of ASU campus, and the light rail running along Terrace. Campus lofts is located just 1 block away from a light rail station. The strategic location of Campus Lofts is incredibly hard to beat and is located within the nucleus of Tempe's redevelopment to come as a result of the light rail, and expansion of Arizona State University.

Property Information

Legal: Apartments			Year Blt: 1960
Marketing Name: Campus Lofts
Add'l Parcels: N	# Buildings: 2
Covered Parking: 19		Uncovered Parking: 0

13-24 Units Fee Simple Includes-Building(s) Only Includes-Land & Building(s) Includes-Pool Equipment Block Construction Finish-Other (Remarks) Comp-Shingle Roof Floors-Other (Remarks) Other (see remarks)	Appliances-Other (Remarks) Electric Heating Individual Cooling City Franchise Water Sewer-Public Electric-Other (Remarks) Gas-Other (Remarks) Carport Roads-Asphalt/Blacktop Owner Pays-Other	Lessee Pays-Other (Remarks) Financial-Provided by Owner 1st Loan-Other (Remarks) Loan Type 1 - Not Applicable 1st Loan Terms-Not Applicable 2nd Loan-Other (Remarks) 2nd Loan Type-Not Applicable 2nd Loan Terms-Not Applicable 3rd Loan-Other (Remarks) 3rd Loan Type-Not Applicable	3rd Loan Terms-Not Applicable Other Loan-Not Applicable New Fin-Other (Remarks) Reports-Other (Remarks) Environmental-Other (Remarks)

Financial Information

Taxes/Year/District: $3500 / 2008 /	Downpayment / %: 399000 / 30
OwnerAssociation: No / $0 / Annually		PAD Fee: $0 / Annually
Mo Pymts Inc:

Electric Exp: $ <script type="text/javascript"></script> 3,400	Gas Exp: $ <script type="text/javascript"></script> 1,200	Insurance Exp: $ <script type="text/javascript"></script> 5,700	Land Lease Exp: $ <script type="text/javascript"></script> 0
Landscaping Exp: $ <script type="text/javascript"></script> 0	Legal Exp: $ <script type="text/javascript"></script> 0	Maint Exp: $ <script type="text/javascript"></script> 4,000	Mgmnt Exp: $ <script type="text/javascript"></script> 7,500
Trash Exp: $ <script type="text/javascript"></script> 0	Water/Sewer Exp: $ <script type="text/javascript"></script> 5,600	Replacement Exp: $ <script type="text/javascript"></script> 0
Other Exp: $ <script type="text/javascript"></script> 1,500		Annual Operating Exp: $ <script type="text/javascript"></script> 32,400
Gross Income: $ <script type="text/javascript"></script> 137,100	Other Income: $ <script type="text/javascript"></script> 5,400	Vacancy Allowance: 11%	Adjusted Gross Income: $ <script type="text/javascript"></script> 126,825
Rental Income: $ <script type="text/javascript"></script>		Net Operating Income: $ <script type="text/javascript"></script> 93,700
CAP Rate: 6.29 %	Assessment Balance: $ <script type="text/javascript"></script> 0	Assess. Yrs Remaining: 0	Monthly Payment: $ <script type="text/javascript"></script> 0

Unit Information

Total # Units: 19
# Efficiency: 1	Avg Rent: $ <script type="text/javascript"></script> 525	Avg SF: <script type="text/javascript"></script> 400	Baths: 1
# 1 BR Units: 18	Avg Rent: $ <script type="text/javascript"></script> 650	Avg SF: <script type="text/javascript"></script> 500	Baths: 1
# 2 BR Units: 0	Avg Rent: $ <script type="text/javascript"></script> 0	Avg SF: <script type="text/javascript"></script> 0	Baths: 0
# 3 BR Units: 0	Avg Rent: $ <script type="text/javascript"></script> 0	Avg SF: <script type="text/javascript"></script> 0	Baths: 0
# 4 BR Units: 0	Avg Rent: $ <script type="text/javascript"></script> 0	Avg SF: <script type="text/javascript"></script> 0	Baths: 0
Total # Mobile Hm Spaces:
# Singlewide:	Avg Rent: $ <script type="text/javascript"></script>
# Doublewide:	Avg Rent: $	# Storage Spaces:
# Overnight:	Avg Rent: $	# Park Owned Units:
# RV Spaces:	Avg Rent: $
# Oversize Spaces:	Avg Rent: $