NOT LISTED FOR SALE

1424 E Knoll Cir Mesa, AZ 85203

North Central Mesa Neighborhood

Estimated Value: $677,640 - $964,000

-- Bed
8 Baths
1,844 Sq Ft
$436/Sq Ft Est. Value

Last Sold May 11, 2016

Last sale price $350,000 $190 Per Sq Ft

Est. 130% increase in value since last sale

Current estimated payment $4,398/month

43 Days on Market

Highlights

  • Cooling Available
  • Macarthur Elementary School Rated A-
  • Heating Available

About This Home

As of May 2016

Rare Upscale 4-Plex! Townhome style units! Separate water meters- tenants pay ALL water/sewer/trash/electric. Large 2bd/1.5 bath units, private fenced yards, private laundry w/ hookups, lighted covered parking, with much tile! All fourplexes in the area show pride of ownership! Knoll Circle is surrounded by nice residential homes. Rents are all solid at $650 per unit! Potential opportunity to raise rents given the rental comps in the area. Most of the tenants have occupied the property for a great length of time and all of them have leased the property for at least one year. Pro-forma income/expense numbers (cap rate) do not include property management expense. Buyer must verify all facts/figures on their own.

Last Agent to Sell the Property

Daniel Shreeve

Arizona Platinum Properties LLC License #BR572199000 Listed on: 02/10/2016

Last Buyer's Agent

Garen Avanesyan

Realty ONE Group License #SA563260000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,489

Year Built

  • Built in 1986

Lot Details

  • 7,492

Home Design

  • Brick Exterior Construction
  • Wood Frame Construction
  • Composition Roof
  • Stucco

Parking

  • 2 Open Parking Spaces
  • 6 Parking Spaces
  • 4 Covered Spaces

Schools

  • Hermosa Vista Elementary School
  • Stapley Junior High School
  • Mountain View High School

Utilities

  • Cooling Available
  • Heating Available

Listing and Financial Details

  • Tenant pays for water, sewer, cable TV
  • The owner pays for landscaping
  • Tax Lot 3
  • Assessor Parcel Number 136-07-172

Community Details

Overview

  • 4 Units
  • Building Dimensions are IRR
  • North Gate Gardens Unit 2 Lot 1 11 Subdivision

Building Details

  • Operating Expense $6,589
  • Net Operating Income $26,100

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,489

Year Built

Built in 1986

Lot Details

0

Listing Details

  • Cross Street: STAPLEY & MCKELLIPS
  • Legal Info Range: 5E
  • Property Type: Multiple Dwellings
  • Zoning: MULTI
  • Number Of Buildings: 1
  • Year Built: 1986
  • Tax Year: 2015
  • Road Surface Type: Asphalt
  • Subdivision Name: NORTH GATE GARDENS UNIT 2 LOT 1-11
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances Included:FS OvenRange: Yes

Exterior Features

  • Disclosures: Seller Prop Disc Stm, Other (See Remarks)
  • Construction Type: Brick Veneer, Stucco, Frame - Wood
  • Roof: See Remarks, Composition
  • Construction:Frame - Wood: Yes

Garage/Parking

  • Total Covered Spaces: 4.0
  • Open Parking Spaces: 2.0
  • Total Parking Spaces: 6.0
  • General Property Description:Covered Parking Spcs: 4.0
  • General Property Description:Uncvrd Parking Spcs: 2.0
  • General Property Description:Total Parking Spcs: 6.0
  • Parking:_one_ SpaceUnit: 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

Association/Amenities

  • Community Amenities:No Pool: Yes

Schools

  • Elementary School: Hermosa Vista Elementary School
  • High School: Mountain View High School
  • Middle Or Junior School: Stapley Junior High School

Lot Info

  • Lot Size: IRR
  • Additional Parcels: No
  • Parcel #: 136-07-172

Multi Family

  • Owner Pays: Landscaping
  • Tenant Pays: Water, Sewer, Cable TV
  • Number Of Units Total: 4
  • Insurance Expense: 1800.0
  • Maintenance Expense: 1200.0
  • Property Net Operating Income: 26100.0
  • Annual Operating Expense: 6589.0

Tax Info

  • Tax Annual Amount: 1489.0
  • Tax Book Number: 136.00
  • Tax Lot: 3

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 10, 2016
Closed on
Apr 1, 2016
Sold by
Ayn Properties Llc
Bought by
Eledgian Alice and Demirjian Shunt
Seller's Agent
Daniel Shreeve
Arizona Platinum Properties LLC
Buyer's Agent
Garen Avanesyan
Realty ONE Group
List Price
$365,000
Sold Price
$350,000
Premium/Discount to List
-$15,000
-4.11%
Current Estimated Value
$804,410

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$454,410
Avg. Annual Appreciation
9.13%
Original Mortgage
$262,500
Outstanding Balance
$208,745
Interest Rate
3.71%
Mortgage Type
New Conventional
Estimated Equity
$595,665

Purchase Details

Closed on
Dec 6, 2010
Sold by
Goldman Charles
Bought by
Ayn Properties Llc

Purchase Details

Closed on
Mar 23, 2005
Sold by
Hodge Guy and Hodge Grant
Bought by
Goldman Charles

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$281,250
Interest Rate
5.99%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 5, 2003
Sold by
Hodge Leila
Bought by
Hodge Guy

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$228,000
Interest Rate
5.62%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jun 20, 2001
Sold by
Lamb Holdings Llc
Bought by
Mcgee Michael and Mcgee Jamie

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$196,800
Interest Rate
7.21%
Mortgage Type
New Conventional

Purchase Details

Closed on
Oct 10, 2000
Sold by
Lamb Michael D and Lamb Lorie L
Bought by
Lamb Holdings Llc

Purchase Details

Closed on
Mar 16, 1999
Sold by
Roberts Dennis L
Bought by
Lamb Michael D and Lamb Lorie L
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
Eledgian Alice $350,000 Dhi Title Agency
Ayn Properties Llc $115,000 Chicago Title
Goldman Charles $375,000 --
Hodge Guy -- Grand Canyon Title Agency In
Hodge Guy $285,000 Grand Canyon Title Agency In
Mcgee Michael $246,000 First American Title
Lamb Holdings Llc $230,000 --
Lamb Holdings Llc $230,000 --
Lamb Michael D $170,000 Transnation Title Ins Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Eledgian Alice $262,500
Previous Owner Goldman Charles $281,250
Previous Owner Hodge Guy $228,000
Previous Owner Mcgee Michael $196,800
Closed Mcgee Michael $36,900
Closed Goldman Charles $18,750
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/11/2016 05/11/16 Sold $350,000 -4.1% $190 / Sq Ft
03/24/2016 03/24/16 Pending -- -- --
02/10/2016 02/10/16 For Sale $365,000 -- $198 / 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 $1,891 $19,168 -- --
2024 $1,897 $18,255 -- --
2023 $1,897 $62,800 $12,560 $50,240
2022 $1,858 $47,830 $9,560 $38,270
2021 $1,880 $41,170 $8,230 $32,940
2020 $1,856 $36,700 $7,340 $29,360
2019 $1,734 $31,680 $6,330 $25,350
2018 $1,664 $28,460 $5,690 $22,770
2017 $1,615 $24,860 $4,970 $19,890
2016 $1,585 $22,500 $4,500 $18,000
2015 $1,489 $21,300 $4,260 $17,040
Source: Public Records

Agents Affiliated with this Home

  • D

    Seller's Agent in 2016

    Daniel Shreeve

    Arizona Platinum Properties LLC

    (480) 600-4307

    6 in this area

    32 Total Sales

    Daniel Shreeve
    Section Image

  • G

    Buyer's Agent in 2016

    Garen Avanesyan

    Realty One Group

    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5396652

Arizona Regional Multiple Listing Service (ARMLS)

APN: 136-07-172

Arizona Maricopa County Mesa 85203 North Central Mesa

1424 E Knoll Cir, Mesa, AZ

Not Listed for Sale

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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