7 Units walking distance to Mill Ave and Arizona State University. 100% occupied. Recent fully completed unit addition in the ''A'' building from two units to three units, a new separate studio driving a new incremental $7,000 year in NOI. Raised rents 9.5% across all the units since purchase in line with Tempe rental market increases, the ''B'' loft units at $810/month are still below market. Vacancies have ran sub ~3.75% simultaneously. Large documented capital expenditures ($50k+), studio conversion, numerous capital improvements (new water heaters, AC units and plumbing) and interior renovations. Pro forma NOI for the property this year will be $58,800 (full occupancy at listing and leased through Q2'19) at a 5% plus cap rate. Building A was built in 1947, Building B was built in 1958. There are 3 uncovered tandem parking spaces and 4 covered tandem parking spaces. 1 Tandem space per unit. With exception of unit A-101, all tenants are students enrolled in advanced degrees. All units have gas heat and electric cooling. Students at ASU have to pay $800 per semester in order to obtain a campus parking permit. By leasing these apartments - it's like getting two months free rent because they don't have to pay the parking fee. Disclosure: the Co-Listing agent holds interest in F/O/K PROPERTIES LLC and is a licensed real estate agent in the state of Arizona. Buyer to verify all information. New exterior paint and landscaping as of 1/2019.