NOT LISTED FOR SALE

1338 W Lobo Ave Mesa, AZ 85202

Dobson Neighborhood

Estimated Value: $667,131

9 Beds
3 Baths
3,130 Sq Ft
$213/Sq Ft Est. Value

Last Sold May 10, 2018

Last sale price $390,333 $125 Per Sq Ft

Est. 71% increase in value since last sale

Current estimated payment $3,749/month

248 Days on Market

Highlights

  • Cooling Available
  • Franklin at Brimhall Elementary School Rated A
  • Heating Available

About This Home

As of May 2018

This property is being sold to investors only as it currently operates as an assisted living facility. The current lease is a three year lease for $3000 per month. The tenant has the option to extend the lease each year for seven additional years. If the tenant extends the landlord can negotiate a higher monthly lease amount. The home has nine beds three bathrooms and an office. The Home and business is licensed for a maximum of 10 residents. There is a large great room with lots of natural light and a big screen TV. Premium location for this type of business in Mesa.

Last Agent to Sell the Property

Scott Harris

Edge Realty, LLC License #BR514719000 Listed on: 07/10/2017

Co-Listed By

Jared Harris

Edge Realty, LLC License #SA629707000

Last Buyer's Agent

Ephrem Jando

Real Broker License #BR552736000

Real Broker

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,112

Year Built

  • Built in 1978

Lot Details

  • 8,712

Home Design

  • Wood Frame Construction
  • Composition Roof
  • Stucco

Parking

  • 3 Open Parking Spaces
  • 3 Parking Spaces

Schools

  • Alma Elementary School
  • Rhodes Junior High School
  • Dobson High School

Utilities

  • Cooling Available
  • Heating Available

Listing and Financial Details

  • Tenant pays for water, sewer, cable TV, landscaping
  • Tax Lot 1069
  • Assessor Parcel Number 305-07-160

Community Details

Overview

  • Building Dimensions are 93 x 104
  • Dobson Ranch Unit 3 Subdivision

Building Details

  • Operating Expense $4,364
  • Gross Income $36,000
  • Net Operating Income $33,748

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,112

Year Built

Built in 1978

Lot Details

0

Listing Details

  • Cross Street: Baseline and Alma School
  • Legal Info Range: 5E
  • Property Type: Multiple Dwellings
  • Zoning: R-6
  • Number Of Buildings: 1
  • Year Built: 1978
  • Tax Year: 2016
  • Road Surface Type: Asphalt
  • Co List Office Mls Id: edre001
  • Co List Office Phone: 480-695-0340
  • Subdivision Name: DOBSON RANCH UNIT 3
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances Included:Other (See Remarks)56: Yes

Exterior Features

  • Disclosures: Seller Prop Disc Stm
  • Construction Type: Painted, Stucco, Frame - Wood
  • Roof: Composition
  • Construction:Frame - Wood: Yes

Garage/Parking

  • Open Parking Spaces: 3.0
  • Total Parking Spaces: 3.0
  • General Property Description:Uncvrd Parking Spcs: 3.0
  • General Property Description:Total Parking Spcs: 3.0
  • Parking:Street Parking: Yes
  • Parking:Paved Parking: Yes

Utilities

  • Electric: SRP
  • Cooling: Electric
  • Heating: Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes

Condo/Co-op/Association

  • Community Features: No Pool
  • Amenities: Other

Association/Amenities

  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Desert Landscaping: Yes

Schools

  • Elementary School: Alma Elementary School
  • High School: Dobson High School
  • Middle Or Junior School: Rhodes Junior High School

Lot Info

  • Lot Size: 93 x 104
  • Additional Parcels: No
  • Parcel #: 305-07-160

Multi Family

  • Tenant Pays: Water, Sewer, Cable TV, Landscaping
  • Number Of Units Total: 1
  • Annual Gross Income: 36000.0
  • Insurance Expense: 1200.0
  • Maintenance Expense: 500.0
  • Property Net Operating Income: 33748.0
  • Annual Operating Expense: 4364.0

Tax Info

  • Tax Annual Amount: 2112.0
  • Tax Book Number: 305.00
  • Tax Lot: 1069

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 10, 2017
Closed on
May 2, 2018
Sold by
Mor Holdings Llc
Bought by
Mesa Rentals Llc
Seller's Agent
Scott Harris
Edge Realty, LLC
Buyer's Agent
Ephrem Jando
Real Broker
List Price
$400,000
Sold Price
$390,333
Premium/Discount to List
-$9,667
-2.42%
Total Days on Market
248
Current Estimated Value
$667,131

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$276,798
Avg. Annual Appreciation
7.84%
Original Mortgage
$80,000
Outstanding Balance
$69,675
Interest Rate
4.44%
Mortgage Type
Commercial
Estimated Equity
$597,456

Purchase Details

Closed on
Jan 26, 2017
Sold by
Loyal Care Assisted Living Llc
Bought by
Mor Holdings Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$277,000
Interest Rate
4.3%
Mortgage Type
Future Advance Clause Open End Mortgage

Purchase Details

Closed on
Jul 26, 2016
Sold by
Bhatia Ben
Bought by
Loyal Care Assisted Living Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$275,000
Interest Rate
3.48%
Mortgage Type
Commercial

Purchase Details

Listed on
Aug 26, 2013
Closed on
Oct 22, 2013
Sold by
Lorimer Laura Mae
Bought by
Bhatia Ben
Seller's Agent
Robert Tolnai
Best Homes Real Estate
Buyer's Agent
Chip Neiculescu
HomeSmart
List Price
$329,000
Sold Price
$312,000
Premium/Discount to List
-$17,000
-5.17%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.75%
Original Mortgage
$218,400
Interest Rate
4.46%
Mortgage Type
Commercial

Purchase Details

Listed on
Aug 26, 2013
Closed on
Oct 11, 2013
Sold by
Lorimer Monique
Bought by
Lorimer Laura Mae
Seller's Agent
Robert Tolnai
Best Homes Real Estate
Buyer's Agent
Chip Neiculescu
HomeSmart
List Price
$329,000
Sold Price
$312,000
Premium/Discount to List
-$17,000
-5.17%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$218,400
Interest Rate
4.46%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 21, 2013
Sold by
Lorimer Laura Mae and Serban Ionel
Bought by
Lorimer Monique

Purchase Details

Closed on
Jul 26, 2005
Sold by
Dailey Sylvia N
Bought by
Dailey Allan F

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$250,400
Interest Rate
6.4%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 30, 2002
Sold by
Pantiru Vasile
Bought by
Lorimer Laura

Purchase Details

Closed on
Apr 10, 2000
Sold by
Pantiru Vasile
Bought by
Pantiru Vasile and Lorimer Laura

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$171,000
Interest Rate
8.3%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 7, 2000
Sold by
Mardare Camelia
Bought by
Pantiru Vasile

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$171,000
Interest Rate
8.3%
Mortgage Type
Commercial

Purchase Details

Closed on
Jul 2, 1999
Sold by
Mardare Camelia and Mardare Calin
Bought by
Mardare Camelia

Purchase Details

Closed on
May 5, 1999
Sold by
Mardare Camelia and Mardare Calin
Bought by
Mardare Camelia and Mardare Calin

Purchase Details

Closed on
Oct 19, 1995
Sold by
Cambou Bertrand F and Cambou Line
Bought by
Mardare Camelia

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$142,500
Interest Rate
7.48%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Mesa Rentals Llc $390,333 Empire West Title Agency Llc
Mor Holdings Llc -- Security Title Agency Inc
Loyal Care Assisted Living Llc $275,000 Security Title Agency
Bhatia Ben $312,000 Precision Title Agency Agenc
Lorimer Laura Mae -- Accommodation
Lorimer Monique -- None Available
Dailey Allan F -- --
Lorimer Laura -- --
Pantiru Vasile -- --
Pantiru Vasile $180,000 Capital Title Agency
Mardare Camelia -- --
Mardare Camelia -- --
Mardare Camelia $150,000 Security Title Agency
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Mesa Rentals Llc $80,000
Previous Owner Mor Holdings Llc $277,000
Previous Owner Loyal Care Assisted Living Llc $275,000
Previous Owner Bhatia Ben $120,000
Previous Owner Bhatia Ben $218,400
Previous Owner Lorimer Laura $250,400
Previous Owner Pantiru Vasile $171,000
Previous Owner Mardare Camelia $142,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/10/2018 05/10/18 Sold $390,333 0.0% $125 / Sq Ft
05/03/2018 05/03/18 Sold $390,333 -2.4% $125 / Sq Ft
04/13/2018 04/13/18 Pending -- -- --
03/05/2018 03/05/18 For Sale $400,000 0.0% $128 / Sq Ft
03/05/2018 03/05/18 Price Changed $400,000 0.0% $128 / Sq Ft
03/05/2018 03/05/18 For Sale $400,000 0.0% $128 / Sq Ft
07/10/2017 07/10/17 For Sale $400,000 +28.2% $128 / Sq Ft
10/24/2013 10/24/13 Sold $312,000 -5.0% $100 / Sq Ft
10/03/2013 10/03/13 Pending -- -- --
09/08/2013 09/08/13 Price Changed $328,500 -0.2% $105 / Sq Ft
08/19/2013 08/19/13 For Sale $329,000 -- $105 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $2,508 $25,549 -- --
2024 $2,528 $24,332 -- --
2023 $2,528 $46,460 $9,290 $37,170
2022 $2,476 $35,210 $7,040 $28,170
2021 $2,506 $32,720 $6,540 $26,180
2020 $2,474 $31,510 $6,300 $25,210
2019 $2,311 $29,500 $5,900 $23,600
2018 $2,218 $26,810 $5,360 $21,450
2017 $2,152 $25,750 $5,150 $20,600
2016 $2,112 $26,620 $5,320 $21,300
2015 $1,985 $23,560 $4,710 $18,850
Source: Public Records

Agents Affiliated with this Home

  • J

    Seller's Agent in 2018

    Jared Harris

    Edge Realty, LLC

    (480) 204-3981

    1 in this area

    57 Total Sales

    Jared Harris
    Section Image

  • S

    Seller's Agent in 2018

    Scott Harris

    Edge Realty, LLC

    (480) 694-0340

    1 in this area

    52 Total Sales

    Scott Harris
    Section Image
  • Ephrem Jando

    Buyer's Agent in 2018

    Ephrem Jando

    Real Broker

    (480) 206-3631

    41 Total Sales

    Ephrem Jando
    Section Image
  • Robert Tolnai

    Seller's Agent in 2013

    Robert Tolnai

    Best Homes Real Estate

    (602) 516-5360

    124 Total Sales

    Robert Tolnai
    Section Image

  • C

    Buyer's Agent in 2013

    Chip Neiculescu

    HomeSmart

    (602) 230-7600

    10 Total Sales

    Chip Neiculescu
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5631076

Arizona Regional Multiple Listing Service (ARMLS)

APN: 305-07-160

Arizona Maricopa County Mesa 85202 Dobson

1338 W Lobo Ave, Mesa, AZ

This home is located at 1338 W Lobo Ave, Mesa, AZ 85202 since 10 July 2017 and is currently estimated at $667,131, approximately $213 per square foot. This property was built in 1978. 1338 W Lobo Ave is a home located in Maricopa County with nearby schools including Franklin at Brimhall Elementary School, Washington Elementary School, and Franklin Accelerated Academy Jordan Campus.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Arizona Regional Multiple Listing Service (ARMLS) All information should be verified by the recipient and none is guaranteed as accurate by ARMLS

Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393

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