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616 S Hardy Dr
AI Property Summary
Structured overview optimized for LLM context (ChatGPT, Perplexity, Claude).
- Seven-unit apartment building located in Tempe, Arizona.
- Property is listed for sale at 1,375,000 dollars.
- Current capitalization rate for the asset is 4.79 percent.
- Annual operating expenses for the property total 41,444 dollars.
- Asset is situated near major regional employment and education hubs.
What's Special
Investors seeking a stabilized multifamily addition in Tempe will find this seven-unit apartment building at 616 S Hardy Dr a practical choice. The asset presents a 4.79% cap rate, aligning with current market valuations in the Phoenix metropolitan area. Tempe remains a core submarket driven by proximity to Arizona State University and a high concentration of technology and financial services employers, ensuring consistent demand for residential units. This property is well-positioned for an owner seeking to capture steady rental income in a supply-constrained environment. The current operating expenses are recorded at $41,444, providing a clear baseline for financial modeling. As a multi-family holding, this building benefits from the sustained population growth and regional economic expansion characterizing this part of Arizona. Prospective buyers can leverage the established footprint of this asset to bolster a local rental portfolio.
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