$1,340,000
Mesa, AZ 85203
MLS# 6218282
Status: Closed
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Property Description
We are pleased to announce Eight on Williams in Mesa. This property is excellent unit mix all two bedroom one bath units. Property has had some recent capital expenders. New roof on back building, new paint and landscaping. Some units have granite counter tops updated kitchens flooring and bathrooms. Garden building in back have private yards. All units have covered parking. Some units have washer hooks as well. Great opportunity for value you add. Current rents are below market 875-975. Market rents are 1,100-1,200. Projected proforma on property. All facts and figures are approximate buyer verify MLS information. Seller holds an active AZ real estate license. Drive by only tenants are unware of the sale. No showings without accepted contract.
Details
Maps
Contract Info
Current Price: $1,340,000
Sold Price: $1,340,000
Status: Closed
List Date: 2021-04-07
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: Q39
House Number: 505
Compass: N
Street Name: Williams
St Suffix: Street
City/Town Code: Mesa
State/Province: AZ
Zip Code: 85203
Country: USA
County Code: Maricopa
Subdivision: KO KO PALMS 2
Assessor's Map #: 37
Assessor's Parcel #: 49
Add'l Parcels: No
Assessor Number: 137-37-049
Legal: LOT 49 KO KO PALMS 2 LOTS 117-121 MCR 010310
Tax Municipality: Mesa
Taxes: 1570
Tax Year: 2020
Marketing Name: Eight on Williams
General Property Description
Lot Size Dimensions: IRR
Year Built: 1963
Total # of Units: 8
# of Buildings: 4
Zoning: R
Elementary School District: Mesa Unified District
High School District: Mesa Unified District
Remarks & Misc
Cross Street: University & Stapley
Geo Lat: 33.424608
Geo Lon: -111.79474
Status Change Info
Status Change Date: 2021-08-06
Off Market Date: 2021-08-04
Under Contract Date: 2021-04-29
Close of Escrow Date: 2021-08-05
Sold Price: $1,340,000
Legal Info
Lot Number: 49
Income & Expenses
Annual Elec Exp: 300
Annual Ins Exp: 2500
Annual Landscape Exp: 1200
Annual Maint Exp: 4000
Annual Mgmt Exp: 5760
Annual Trash Exp: 3000
Annual Wtr/Swr Exp: 3000
Owner Association: No
Operating Exp: 21330
Gross Annual Sch Inc: 105600
Vacancy Allowance: 0.05
Adjusted Gross Inc: 100320
Totl Mnth Rntal Inc: 8800
Net Operating Income: 78990
Pmt & Rate Info
Cap Rate: 6.08
Equity: 1300000
2 Bedroom Units
# 2 Bedroom Units: 8
Avg Rent: 1
Avg SqFt: 900
# Baths: 1
Sold Info
Loan Type: Other
Loan Years: 30
Payment Type: Other
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Project Type: 5 - 12 Units
Construction: Block; Frame - Wood
Const - Finish: Painted
Roofing: Comp Shingle
Floors: Carpet
Sale Includes: Land & Building; Personal Property
Community Amenities: No Pool
Exterior Amenities: Green Landscaping
Interior Amenities: Unfurnished
Appliances Included: F/S Oven/Range; Refrigerator
Heating: Other; See Remarks
Cooling: Electric
Water: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: Other (See Remarks)
Parking: Carport
Roads/Streets: Treated
Owner Pays: Water; Trash Collection
Tenant Pays: Electric
Source of Fincl Data: Projected Proforma
Special: Owner/Agent
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
Existing 1st Ln Type: Not Applicable
Existing 1st Ln Trms: Not Applicable
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: Seller May Carry
Reports/Disclosures: Seller Prop Disc Stm
Environmental: None
Listing Office: Grace CRE
Last Updated: August - 06 - 2021
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