$7,450,000
Tempe, AZ 85288
MLS# 5954603
Status: Closed
1 / 31
Property Description
Like the coveted town in Orange County, The Newport is created to be a lifestyle community combining the relaxed, connective vibe of the people with the modern, urban architecture found in coastal California. Upon arriving at The Newport, one will notice the clean-lined architectural design, replete with great articulation, varied materials including corrugated metal, cementitious wood, and smooth stucco that blend artistically to remind you that Tempe is a changin'. The interiors are an eclectic mix of mid-century modern that allow you an embracing and warm feel, or chic, minimalist modern California beach house. The community boasts SRP GoldStar rating for the highest in energy efficiency.
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $7,450,000
Sold Price: $7,450,000
Status: Closed
List Date: 2019-07-18
Location, Tax & Legal
Unit #: 1033
Assessor's Map #: 10
Legal Description (Abbrev): LOT 2 NEWPORT AT TEMPE MCR 118037
Assessor's Parcel #: 113
Add'l Parcels: Yes
Tax Municipality: Maricopa - COUNTY
Census Tract: 318400
Taxes: 57000
Legal: LOT 2 NEWPORT AT TEMPE MCR 118037
Marketing Name: The Newport
Map Code/Grid: Q37
House Number: 1106
Compass: E
Street Name: WEBER
St Suffix: Drive
City/Town Code: Tempe
State/Province: AZ
Zip Code: 85288
Zip4: 0919
County Code: Maricopa
Subdivision: NEWPORT AT TEMPE
Assessor Number: 132-10-113
Tax Year: 2018
General Property Description
# of Buildings: 17
Uncvrd Parking Spcs: 0
Lot Size Dimensions: 2.30
Total # of Units: 17
Elementary School District: Scottsdale Unified District
High School District: Tempe Union High School District
Year Built: 2017
Zoning: R1-Pad
Legal Info
Range: 4E
Section: 11
Township: 1N
Lot Number: 2
Project Type
13 - 24 Units: 1
Construction
Wood Frame: 1
Const - Finish
Painted: 1
Stucco: 1
Siding: 1
Roofing
Built-Up: 1
Floors
Ceramic Tile: 1
Carpet: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 0
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 0
Annual Mgmt Exp: 0
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 0
Owner Association: Yes
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 57000
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 616800
Pmt & Rate Info
Cap Rate: 6.42
Down Payment: 0
Equity: 7450000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Showing Notification Methods
Email: 1
Lockbox Type
None: 1
Community Features
Pool: 1
Spa(s): 1
Clubhouse: 1
Exercise Room: 1
Game/Rec Room: 1
Sport Court: 1
Heating
Electric: 1
Individual: 1
ENERGY STAR Qualified Equipment: 1
Cooling
Ceiling Fan(s): 1
ENERGY STAR Qualified Equipment: 1
Central Air: 1
Electric: 1
Individual: 1
Exterior Amenities
Landscape Water System: 1
Patio/Balcony: 1
Interior Features
Furnished: 1
Fire/Smoke Alarm(s): 1
Fire Sprinklers: 1
Tenant Pays
Water: 1
Sewer: 1
Electricity: 1
Trash Collection: 1
Cable TV: 1
Appliances Included
Dishwasher: 1
Disposal: 1
Microwave: 1
Refrigerator: 1
Built-In Range: 1
Washer/Dryer: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Individual Meter: 1
Sewer
Sewer - Public: 1
Parking Features
Garage: 1
>1 Space Per Unit: 1
Attached: 1
Electric
SRP: 1
Individual Meter: 1
Gas
City Gas: 1
Owner Pays
Gas: 1
Landscaping: 1
Pool Maintenance: 1
New Financing
Conventional: 1
Other (See Remarks): 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
None: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Contact Info
List Agent Home Phn: 602-735-5634
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 1
Avg Rent: 3050
Avg SqFt: 1702
# Baths: 4
3 Bedrooms Units
# 3 Bedroom Units: 16
Avg Rent: 3050
Avg SqFt: 1737
# Baths: 4
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Cash
Closing Cost Split: Normal - N
Payment Type: Other
Buyer Concession to Seller: 0
Buyer Concession $/%: %
Seller Concession to Buyer: 0
Seller Concession $/%: %
Remarks Misc
Geo Lat: 33.445722
Geo Lon: -111.921906
Status Change Info
Off Market Date: 2019-09-23
Under Contract Date: 2019-09-20
Close of Escrow Date: 2019-12-31
Sold Price: $7,450,000
Income Expenses
Gross Annual Sch Inc: 616800
Net Operating Income: 478256
Property Features
Project Type: 13 - 24 Units
Construction: Wood Frame
Const - Finish: Painted; Stucco; Siding
Roofing: Built-Up
Floors: Ceramic Tile; Carpet
Sale Includes: Land & Building
Community Features: Pool; Spa(s); Clubhouse; Exercise Room; Game/Rec Room; Sport Court
Exterior Amenities: Landscape Water System; Patio/Balcony
Interior Features: Furnished; Fire/Smoke Alarm(s); Fire Sprinklers
Appliances Included: Built-In Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer
Heating: Individual; ENERGY STAR Qualified Equipment
Cooling: Ceiling Fan(s); Electric; Individual; Central Air; ENERGY STAR Qualified Equipment
Water Source: City Franchise; Individual Meter
Sewer: Sewer - Public
Electric: SRP; Individual Meter
Gas: City Gas
Parking Features: Garage; >1 Space Per Unit; Attached
Road Surface Type: Asphalt
Owner Pays: Gas; Landscaping; Pool Maintenance
Tenant Pays: Water; Sewer; Electricity; Trash Collection; Cable TV
Source of Fincl Data: Owner
Showing Notification Methods: Email
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
Existing 1st Loan Type: Not Applicable
Existing 1st Loan Terms: Not Applicable
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Loan Type: Not Applicable
Existing 2nd Loan Terms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Loan Type: Not Applicable
Existing 3rd Loan Terms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional; Other (See Remarks)
Environmental: None
Supplements
The Newport features a portfolio of 17-single family detached fee-simple homes in an exclusive 38-home community located in a dynamic Tempe Town Lakes location that was built between 2015 and 2018. 16 of the 17 homes in the offering are fully furnished with designer finishes and include all living necessities for Airbnb and are on a master-lease at $3,050 per month thru 2022.
The community consists of two and three-story residences that average over 1,700 square feet and include separate dens that could potentially be converted into a bedroom. Interior features include 9-foot ceilings, eat-in kitchens with Energy Star rated Kenmore stainless-steel appliances, spacious pantries, granite or quartz countertops with undermounted sinks and premium Kohler plumbing fixtures, custom cabinets, in-suite full-size washer/dryers. Units are also Cat5 Ethernet wired and include top-of-the-line lighting fixtures.
Every residence has a private yard and large patio terrace. The community also features a sparkling resort-style pool and spa. Residents of The Newport can also enjoy the amenities at the North Tempe Multi-Generational Center, located directly across the street, for $25 for the year or a $1 per day. The ±30,000 square foot facility includes a fitness center, a business center/library, a gym with multiple basketball courts, community classrooms, preschool classrooms, a youth center, a teen center and a senior center.
Listing Office: CBRE, Inc
Last Updated: July - 06 - 2022
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.