1231 N OLEANDER Street, Tempe, AZ 85288 (MLS# 6960414)

1231 N OLEANDER Street, Tempe, AZ 85288

$1,295,000

Property Type: Multiple Dwellings Status: Active

Current Price: $1,295,000 Last Modified: 12/23/2025

Description

Turnkey 5-Unit Investment Near ASU & Old Town Scottsdale. Fully renovated in 2019 with near-zero vacancy in a high-demand rental market. Unit mix includes four 2BD/1BA units and one 1BD/1BA unit, each featuring updated interiors, vinyl flooring, modern cabinetry, granite countertops, dual-pane windows, new A/C systems, and upgraded security doors. Large private gated patios enhance tenant appeal. Low-maintenance asset offering stable cash flow and long-term appreciation potential.

More Information MLS# 6960414

Contract Info

Ownership: Fee Simple Current Price: $1,295,000 List Price: $1,295,000 Status: Active List Date: 2025-12-23

Location, Tax & Legal

Assessor's Map #: 13 Legal Description (Abbrev): LOT 186 NORTH TEMPE 2 MCR Assessor's Parcel #: 35 Add'l Parcels: Yes Tax Municipality: Tempe Census Tract: 318400 Taxes: 1363 Legal: LOT 186 NORTH TEMPE 2 MCR Marketing Name: Oleander Flyer House Number: 1231 Compass: N Street Name: OLEANDER St Suffix: Street City/Town Code: Tempe State/Province: AZ Zip Code: 85288 Zip4: 1847 County Code: Maricopa Subdivision: NORTH TEMPE 2 Assessor Number: 132-13-035 Tax Year: 2025

General Property Description

# of Buildings: 2 Uncvrd Parking Spcs: 2 Lot Size Dimensions: 7,070 SF Total # of Units: 5 Elementary School District: Tempe School District High School District: Tempe Union High School District Elementary School: Cecil Shamley School Jr. High School: McKemy Academy of International Studies High School: McClintock High School Year Built: 1958 Zoning: [R-2] Multi-Fam

Project Type

5 - 12 Units: 1

Construction

Block: 1 Wood Frame: 1 Brick: 1

Const - Finish

Painted: 1

Roofing

Foam: 1

Floors

Vinyl: 1

Sale Includes

Land & Building: 1

Income & Expenses

Owner Association: No Annual Ownr Asoc Fee: 0 Other Income: 0 Vacancy Allowance: 2 Adjusted Gross Inc: 81060

Pmt & Rate Info

Cap Rate: 5.58 Equity: 1295000 Down Payment %: 0 Monthly Payments: 0 Total Owed: 0

Showing Notification Methods

Showing Service: Aligned Showings

Lockbox Type

See Private Remarks: 1 None: 1

Community Features

No Pool: 1

Heating

Electric: 1

Cooling

Ceiling Fan(s): 1 Central Air: 1 Electric: 1 2 or More Units: 1

Tenant Pays

Gas: 1 Water: 1 Sewer: 1 Electricity: 1 Trash Collection: 1 Cable TV: 1

Appliances Included

Dishwasher: 1 Disposal: 1 Free-Standing Gas Oven: 1 Microwave: 1 Refrigerator: 1

Road Surface Type

Asphalt: 1 Dirt: 1

Source of Fincl Data

Owner: 1 Books Shwn Accpt Ofr: 1

Water Source

Individual Meter: 1

Sewer

Sewer - Public: 1

Parking Features

On Street: 1 1 Space/Unit: 1 Paved: 1 Assigned: 1

Electric

APS: 1

Gas

SW Gas: 1

Owner Pays

Landscaping: 1 See Remarks: 1

New Financing

Cash: 1 Conventional: 1

Reports/Disclosures

None: 1

Environmental

None: 1

Efficiency Units

Avg Rent: 0

1 Bedroom Units

# 1 Bedroom Units: 1 Avg Rent: 1100 Avg SqFt: 550 # Baths: 1

2 Bedroom Units

# 2 Bedroom Units: 4 Avg Rent: 1400 Avg SqFt: 685 # Baths: 1

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Remarks Misc

Cross Street: Scottsdale Rd & Curry Rd Directions: South on Miller to Tempe Dr. West to Oleander Geo Lat: 33.442403 Geo Lon: -111.918705

Legal Info

Lot Number: 185

Income Expenses

Gross Annual Sch Inc: 81060 Net Operating Income: 72317.27

Property Features

Project Type: 5 - 12 Units Construction: Block; Wood Frame; Brick Const - Finish: Painted Roofing: Foam Floors: Vinyl Sale Includes: Land & Building Community Features: No Pool Appliances Included: Free-Standing Gas Oven; Refrigerator; Dishwasher; Disposal; Microwave Cooling: Ceiling Fan(s); Electric; Central Air; 2 or More Units Water Source: Individual Meter Sewer: Sewer - Public Electric: APS Gas: SW Gas Parking Features: On Street; 1 Space/Unit; Assigned; Paved Road Surface Type: Dirt; Asphalt Owner Pays: Landscaping; See Remarks Tenant Pays: Water; Sewer; Electricity; Gas; Trash Collection; Cable TV Source of Fincl Data: Owner; Books Shwn Accpt Ofr Lockbox Type: See Private Remarks; None New Financing: Cash; Conventional Environmental: None

Documents

Unbranded Flyer ›

Listing Office: Midland Real Estate Alliance

Last Updated: December - 23 - 2025