$850,000
Mesa, AZ 85203
MLS# 6691171
1 / 33
Property Description
Nice 4-plex in the popular Sun Gardens complex in North Mesa. Building has one 3-bed 2 bath unit and three 2-bed 1.5 bath units. Each unit has laundry hook ups and 1 assigned, garage space. Since 2018, units 17, 18, and 19 have been fully remodeled with new kitchen and bath cabinets and tops and modernized with microwaves above the range. Roof was replaced in 2018. Complex has community pool and green belts. Area is centrally located with good demand for units and is close to shopping, schools and freeways. Due to a substantial amount of investment into updating units, actual maintenance expenses is unusually high so a proforma maintenance expense was estimated at $600 per unit per year. This is a turn key investment with professional property manager in place.
Details
Maps
Contract Info
Current Price: $850,000
List Price: $850,000
Status: Active
List Date: 2024-04-10
Ownership: Fee Simple
Subagents: N
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
House Number: 860
Compass: E
Street Name: Brown
St Suffix: Road
Unit #: 20
City/Town Code: Mesa
State/Province: AZ
Zip Code: 85203
Country: USA
County Code: Maricopa
Subdivision: SUN GARDENS REPLAT
Assessor's Map #: 9
Assessor's Parcel #: 340
Add'l Parcels: No
Assessor Number: 137-09-340
Legal: LOT 20 SUN GARDENS REPLAT MCR 062030
Tax Municipality: Mesa
Taxes: 1754
Tax Year: 2023
Marketing Name: Sun Gardens
General Property Description
Lot Size Dimensions: 3804
Year Built: 1980
Total # of Units: 4
# of Buildings: 1
Zoning: RM-4
Elementary School: Edison Elementary School
Jr. High School: Kino Junior High School
High School: Westwood High School
Elementary School District: Mesa Unified District
High School District: Mesa Unified District
Remarks & Misc
Cross Street: Stapley & Brown Rd
Directions: East on Brown Road to complex on north side.
Geo Lat: 33.436233
Geo Lon: -111.812041
Status Change Info
Status Change Date: 2024-04-12
Legal Info
Township: 1N
Range: 5E
Section: 14
Lot Number: 20
Income & Expenses
Annual Ins Exp: 2000
Annual Maint Exp: 5870
Annual Mgmt Exp: 4303
Annual Wtr/Swr Exp: 2904
Owner Association: Yes
Annual Ownr Asoc Fee: 5868
Annual Rplcmnt Rsrvs: 2400
Operating Exp: 25099
Gross Annual Sch Inc: 61320
Adjusted Gross Inc: 61320
Totl Mnth Rntal Inc: 5110
Net Operating Income: 24404
Pmt & Rate Info
Cap Rate: 2.87
Equity: 850000
Showing Notification Methods
Showing Service: No Showing Service Used
2 Bedroom Units
# 2 Bedroom Units: 3
Avg Rent: 1138
Avg SqFt: 930
# Baths: 2
3 Bedrooms Units
# 3 Bedroom Units: 1
Avg Rent: 1695
Avg SqFt: 1250
# Baths: 2
Contact Info
List Agent Home Phn: 480-233-6119
Property Features
Project Type: Four Plex
Construction: Frame - Wood
Const - Finish: Painted; Stucco
Roofing: Comp Shingle
Floors: Vinyl; Ceramic Tile; Carpet
Sale Includes: Land & Building
Community Amenities: Pool; Play Area
Exterior Amenities: Green Landscaping; Desert Landscaping
Interior Amenities: Unfurnished; Fire/Smoke Alarm(s); Vertical Blinds; Mini Blinds
Appliances Included: F/S Oven/Range; Refrigerator; Dishwasher; Microwave; Washer/Dryer; W/D Hookup
Heating: Heat Pump
Cooling: Ceiling Fan(s); Electric; Heat Pump
Water: City Franchise
Sewer: Sewer - Public; Sewer-In & Connected
Electric: SRP; Master Meter; Individual Meter
Gas: City Gas
Parking: Garage; >1 Space Per Unit; Auto Door Opener; Add'l Parking Avail; Assigned
Roads/Streets: Asphalt
Owner Pays: Water; Trash Collection
Tenant Pays: Electric; Gas; Cable TV
Source of Fincl Data: Provided by Accntnt; Projected Proforma
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
Existing 1st Loan: Conventional
Existing 1st Ln Type: Fixed
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: VA; FHA; Conventional; No Carry
Reports/Disclosures: Seller Prop Disc Stm
Environmental: None
Listing Office: Denman Realty Group, L.L.C
Last Updated: April - 20 - 2024
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