$545,000
Mesa, AZ 85201
MLS# 5934897
Status: Closed
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Property Description
New higher rents of $1,150 reflect-Check out this beautifully remodeled fourplex! New, higher rents reflect the real demand for affordable and remodeled fourplexes. Updates include: windows, doors, ceramic tile flooring, kitchen cabinets with granite counter-tops, recessed lights, ceiling fans, new bathrooms, fencing, paint, faux wood blinds, and much more! Four 2 bedroom/1 bath units have microwave, dishwasher, front yards, carport parking, and storage unit. A common laundry area next to a common patio area gives a community feeling for the tenants. The building is all-electric, and there is no gas at the property--a real plus for tenants. New asphalt will be installed to top off a fresh, clean look to this contemporary-designed fourplex.
Details
Maps
Documents
Contract Info
Current Price: $545,000
Sold Price: $545,000
Status: Closed
List Date: 2019-06-04
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: Q39
House Number: 6
Compass: E
Street Name: INGRAM
St Suffix: Street
City/Town Code: Mesa
State/Province: AZ
Zip Code: 85201
Zip4: 2318
Country: USA
County Code: Maricopa
Legal Description (Abbrev): LOT 110 PLEASANT HOMES SUB UNIT 2 MCR 014241
Subdivision: PLEASANT HOMES SUB UNIT 2
Assessor's Map #: 23
Assessor's Parcel #: 172
Add'l Parcels: No
Assessor Number: 136-23-172
Legal: LOT 110 PLEASANT HOMES SUB UNIT 2 MCR 014241
Census Tract: 420501
Tax Municipality: Mesa
Taxes: 1168
Tax Year: 2018
Marketing Name: Fourplex
General Property Description
Lot Size Dimensions: 115X70
Year Built: 1973
Total # of Units: 4
# of Buildings: 1
Zoning: MULTI
Elementary School: Whitman Elementary School
High School: Westwood High School
Elementary School District: Mesa Unified District
High School District: Mesa Unified District
Remarks & Misc
Cross Street: CENTER AND McKellop
Directions: From McKellop turn South to Ingram and property is on the Northeast Corner
Geo Lat: 33.446731
Geo Lon: -111.8309
Status Change Info
Status Change Date: 2019-09-23
Off Market Date: 2019-08-06
Under Contract Date: 2019-08-05
Close of Escrow Date: 2019-09-23
Sold Price: $545,000
Legal Info
Township: 1N
Range: 5E
Section: 10
Lot Number: 110
Income & Expenses
Annual Elec Exp: 500
Annual Ins Exp: 1400
Annual Landscape Exp: 1200
Annual Maint Exp: 1000
Annual Mgmt Exp: 2880
Annual Wtr/Swr Exp: 2400
Owner Association: No
Annual Other Expense: 500
Operating Exp: 11048
Gross Annual Sch Inc: 57600
Other Income: 600
Vacancy Allowance: 0.03
Adjusted Gross Inc: 56454
Totl Mnth Rntal Inc: 1050
Net Operating Income: 45406
Pmt & Rate Info
Cap Rate: 7.63
Equity: 595000
2 Bedroom Units
# 2 Bedroom Units: 4
Avg Rent: 1195
Avg SqFt: 768
# Baths: 1
Sold Info
Loan Type: Conventional
Loan Years: 30
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Project Type: Four Plex
Construction: Frame - Wood
Const - Finish: Painted; Stucco
Roofing: Comp Shingle
Floors: Ceramic Tile
Sale Includes: Land & Building; Personal Property
Community Amenities: No Pool; Play Area; Barbecue
Exterior Amenities: Landscape Wtr System; Fenced; Cable TV Available; Separate Storage; Security Light(s)
Interior Amenities: Unfurnished; Fire/Smoke Alarm(s); Mini Blinds
Appliances Included: F/S Oven/Range; Refrigerator; Dishwasher; Microwave
Heating: Individual; Heat Pump
Cooling: Ceiling Fan(s); Heat Pump; Individual
Water: City Franchise
Sewer: Sewer - Public; Sewer-In & Connected
Electric: SRP; Individual Meter
Gas: None
Parking: Carport; Street Parking; 1 Space/Unit; Free; Paved Parking
Roads/Streets: Asphalt
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electric; Cable TV
Source of Fincl Data: Provided by Owner
Showing Notification Methods: Text
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: Other (See Remarks)
Existing 2nd Ln Type: Not Applicable
Existing 2nd Ln Trms: Not Applicable
Existing 3rd Loan: Other (See Remarks)
Existing 3rd Ln Type: Not Applicable
Existing 3rd Ln Trms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: CTL; VA; FHA; Conventional; No Carry
Reports/Disclosures: Seller Prop Disc Stm; Sch of Personal Prop
Environmental: None
List of Capital Improvements Listing Office: Gerchick Real Estate
Last Updated: September - 23 - 2019
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