$1,120,000
Mesa, AZ 85204
MLS# 6197179
Status: Closed
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Property Description
Welcome to Seven on Dana. Situated two blocks south of the Main Street development corridor, this property is within walking distance to the light rail. Included in the listing are 2 parcels totaling 1.06 acres; the first parcel is a 7-unit complex (.634 acres) featuring 2 triplexes and a 2-bedroom house. Triplex mix includes one newly updated 3-bed/2 bath, three 2-bed units, a large 1-bed unit, and a studio. The City of Mesa may allow the option to develop and build up to 8 additional units on the second parcel of .43 acres. ProForma Cap Rate is estimated at 5.87%, based on market rents. Buyer to verify all MLS information, as facts and figures are approximate. Do Not Disturb Tenants. Drive-by only.
Details
Maps
Contract Info
Current Price: $1,120,000
Sold Price: $1,120,000
Status: Closed
List Date: 2021-02-19
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: R39
House Number: 1500
Compass: E
Street Name: DANA
St Suffix: Avenue
City/Town Code: Mesa
State/Province: AZ
Zip Code: 85204
Zip4: 1272
Country: USA
County Code: Maricopa
Subdivision: LOS RANCHITOS
Assessor's Map #: 11
Assessor's Parcel #: 36
Add'l Parcels: Yes
Assessor Number: 138-11-036
Legal: LOS RANCHITOS TR 1 PT ARB LOT 8 BEG 183.50' E OF W LN ON S LN JOHNSON DR SD TR 1 TH E 88.5' TH S 467.50' TH W 88.5' TH
Census Tract: 421602
Tax Municipality: Mesa
Taxes: 1895
Tax Year: 2020
Marketing Name: Seven on Dana
General Property Description
Lot Size Dimensions: 148x314
Year Built: 1968
Uncvrd Parking Spcs: 14
Total # of Units: 7
# of Buildings: 2
Zoning: RM-2
Elementary School: Longfellow Elementary School
Jr. High School: Poston Junior High School
High School: Mesa High School
Elementary School District: Mesa Unified District
High School District: Mesa Unified District
Remarks & Misc
Cross Street: Stapley and Main
Directions: From the intersection of Stapley Dr & Main St, head south on Stapley for one block, then turn left onto Dana St, heading East for about half a mile. Property is on your left.
Geo Lat: 33.412968
Geo Lon: -111.79887
Status Change Info
Status Change Date: 2021-04-25
Off Market Date: 2021-04-13
Under Contract Date: 2021-03-15
Close of Escrow Date: 2021-04-20
Sold Price: $1,120,000
Legal Info
Township: 1N
Range: 5E
Section: 24
Lot Number: 8
Income & Expenses
Annual Ins Exp: 3620
Annual Landscape Exp: 1200
Annual Maint Exp: 6000
Annual Mgmt Exp: 4503
Annual Trash Exp: 2500
Annual Wtr/Swr Exp: 4800
Owner Association: No
Operating Exp: 24518
Gross Annual Sch Inc: 94800
Vacancy Allowance: 0.05
Adjusted Gross Inc: 90060
Net Operating Income: 65698
Pmt & Rate Info
Cap Rate: 5.87
Equity: 1120000
Efficiency Units
# Efficiency Units: 1
Avg Rent: 800
Avg SqFt: 400
# Baths: 1
1 Bedroom Units
# 1 Bedroom Units: 1
Avg Rent: 1000
Avg SqFt: 700
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 4
Avg Rent: 1150
Avg SqFt: 800
# Baths: 1
3 Bedrooms Units
# 3 Bedroom Units: 1
Avg Rent: 1500
Avg SqFt: 1100
# Baths: 2
Sold Info
Loan Type: Other
Payment Type: Other
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Project Type: 5 - 12 Units
Other Type: House + Rental Units
Construction: Block; Brick
Const - Finish: Painted
Roofing: Comp Shingle
Floors: Ceramic Tile
Sale Includes: Land & Building
Community Amenities: No Pool
Exterior Amenities: Green Landscaping
Interior Amenities: Fire/Smoke Alarm(s); Mini Blinds
Appliances Included: F/S Oven/Range; Refrigerator; W/D Hookup
Cooling: Ceiling Fan(s); Electric
Water: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: None
Parking: Street Parking; >1 Space Per Unit
Roads/Streets: Gravel
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electric; Cable TV
Source of Fincl Data: Provided by Owner; Projected Proforma
Special: Owner/Agent
Showing Notification Methods: Phone Call
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
New Financing: Conventional; 1031 Exchange; Other (See Remarks)
Reports/Disclosures: Seller Prop Disc Stm
Environmental: None
Listing Office: Grace CRE
Last Updated: April - 25 - 2021
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