$790,000
Mesa, AZ 85213
MLS# 6343744
Status: Closed
1 / 17
Property Description
This 4 Plex is a Great Investment! These Units Are All 2 Bed / 2 Baths with Inside Laundry and Largest Floor Plans! Rents are Close to Market Rents at $925; $1,000; $1,000 & $1100 for Each Unit with Room to Increase. All Rental Agreements are Currently Month to Month! Newer Water Heater in the Last 2 Years; (3) New AC Units Installed in 2020 & 2021! All Units Have a Mixture of Tile & Wood Laminate or Tile and Carpet. The Roof is All Tile. The Building Also Has Covered Parking! Washers and Dryers are Inside the Units and Included with the Building. Great Paying Longer Term Tenants in This Building. Please Do NOT Disturb Tenants! Exterior of the Building is Scheduled to Be Painted in the Next Two Weeks! Turn Key Investment with Continued Upside in Rents! No Better Value in the East Valle
Details
Maps
Contract Info
Current Price: $790,000
Sold Price: $790,000
Status: Closed
List Date: 2022-01-19
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: Q40
House Number: 2964
Compass: E
Street Name: CICERO
St Suffix: Street
City/Town Code: Mesa
State/Province: AZ
Zip Code: 85213
Zip4: 7881
Country: USA
County Code: Maricopa
Legal Description (Abbrev): LOT 3 UNIVERSITY VILLA EAST MCR 025319
Subdivision: UNIVERSITY VILLA EAST
Assessor's Map #: 11
Assessor's Parcel #: 364
Add'l Parcels: No
Assessor Number: 140-11-364
Legal: LOT 3 UNIVERSITY VILLA EAST MCR 025319
Census Tract: 420704
Tax Municipality: Mesa
Taxes: 2303
Tax Year: 2021
Marketing Name: Great Investment
General Property Description
Lot Size Dimensions: 7993 Sq Ft
Year Built: 1985
Uncvrd Parking Spcs: 4
Total # of Units: 4
# of Buildings: 1
Zoning: RM3
Flood Zone: No
Elementary School District: Mesa Unified District
High School District: Mesa Unified District
Remarks & Misc
Cross Street: University & Val Vista
Directions: West to Los Alamos; North to Cicero; West to 2964 Cicero on the North Side of the Street
Geo Lat: 33.423419
Geo Lon: -111.766818
Status Change Info
Status Change Date: 2022-02-28
Off Market Date: 2022-02-28
Under Contract Date: 2022-01-24
Close of Escrow Date: 2022-02-28
Sold Price: $790,000
Legal Info
Township: 1N
Range: 6E
Section: 17
Lot Number: 3
Income & Expenses
Annual Ins Exp: 1600
Annual Landscape Exp: 1200
Annual Maint Exp: 1200
Annual Mgmt Exp: 3865
Annual Wtr/Swr Exp: 3900
Owner Association: No
Operating Exp: 14068
Gross Annual Sch Inc: 48300
Adjusted Gross Inc: 48300
Totl Mnth Rntal Inc: 4025
Net Operating Income: 36535
Pmt & Rate Info
Cap Rate: 4.87
Down Payment %: 25
Monthly Payments: 2645
1st Interest Rate: 0.04
1st Payment Freq: Monthly
2nd Payment Freq: None
3rd Payment Freq: None
Equity: 750000
2 Bedroom Units
# 2 Bedroom Units: 4
Avg Rent: 1006
Avg SqFt: 957
# Baths: 8
Sold Info
Loan Type: Conventional
Loan Years: 30
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Project Type: Tri-Plex; Four Plex; 5 - 12 Units
Construction: Frame - Wood
Const - Finish: Painted; Stucco
Roofing: Tile
Floors: Wood; Ceramic Tile; Carpet
Sale Includes: Land & Building; Personal Property; Laundry Equipment
Payment Includes: Interest
Community Amenities: No Pool
Exterior Amenities: Desert Landscaping; Cable TV Available; Separate Storage
Interior Amenities: Unfurnished; Fire/Smoke Alarm(s); Vertical Blinds; Mini Blinds
Appliances Included: F/S Oven/Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer; W/D Hookup
Heating: Heat Pump
Cooling: Ceiling Fan(s); Electric; Heat Pump
Water: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: None
Parking: Carport; Street Parking; >1 Space Per Unit; Paved Parking
Roads/Streets: Asphalt; Dedicated Street; Curb(s) & Gutter(s); Sidewalk(s)
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electric; Cable TV
Source of Fincl Data: Provided by Owner
Special: Accept Backups (CLO)
Status Update: Multiple Offers Recd
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
Existing 1st Loan: Conventional
Existing 1st Ln Type: Fixed
Existing 1st Ln Trms: Non Assumable
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Ln Type: Not Applicable
Existing 2nd Ln Trms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Ln Type: Not Applicable
Existing 3rd Ln Trms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: CTL; Conventional
Reports/Disclosures: Seller Prop Disc Stm
Environmental: None
Listing Office: Duckett Management & Real Estate
Last Updated: February - 28 - 2022
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