NOT LISTED FOR SALE

1540 E University Dr Mesa, AZ 85203

Mesa Patios Neighborhood
-- Bed
-- Bath
5,612 Sq Ft
0.66 Acres

Last Sold August 17, 2015

Last sale price $290,030 $52 Per Sq Ft

686 Days on Market

Highlights

  • 0.66 Acre Lot
  • Central Air
  • Heating Available
  • Franklin at Brimhall Elementary School Rated A
  • Concrete Flooring

About This Home

As of August 2015

TRADITIONAL SALE OF FIVE SMALL OFFICE BUILDINGS, TOTAL SF +/- 5,000 SQ. FT., IN CENTRAL MESA. FIVE BUILDINGS W/ FIVE SUITES. FEE SIMPLE, NOT A CONDO. EASY TO MANAGE AND MAINTAIN. SELLER OCCUPIES 34% & WILL SIGN THREE-YEAR LEASE TO REMAIN IN OCCUPANCY. OTHER TENANTS SHORT TERM AND LIKELY TO RENEW. QUALITY BLOCK CONSTRUCTION W/SIGNAGE ON UNIVERSITY & PLENTY OF SURFACE PARKING IN REAR. OWNER OCCUPIED LAST 15 YEARS & WELL MAINTAINED/PROFESSIONALLY MANAGED. NEW AC'S (2012) AND ROOF (2011). BUYER TO REPLACE EXISTING SIGNAGE, IF DESIRED. SOLD 'AS IS'. MAKE AN OFFER!

Last Agent to Sell the Property

Dorene Longfellow

First Road Property Advisors, LLC License #BR013546000 Listed on: 09/01/2014

Last Buyer's Agent

Maria Cohen

MC Dream Builders Realty, LLC License #BR580773000

Property Details

Property Type

  • Other

Est. Annual Taxes

  • $5,107

Year Built

  • Built in 1973

Lot Details

  • 0.66 Acre Lot
  • Block Wall Fence
  • Property is zoned C-2, LTD.COMM.

Home Design

  • Built-Up Roof
  • Block Exterior

Interior Spaces

  • 5,612 Sq Ft Home
  • Concrete Flooring

Parking

  • 32 Open Parking Spaces
  • 32 Parking Spaces
  • Free Parking
  • Paved Parking

Utilities

  • Central Air
  • Heating Available

Listing and Financial Details

  • Assessor Parcel Number 137-39-059

Community Details

Overview

  • 5 Buildings
  • Building Dimensions are Two Parcels-137-39-058A & 059
  • Paradise Parkway 3 Subdivision

Building Details

  • Operating Expense $38,995
  • Gross Income $75,839
  • Net Operating Income $33,614

Property Details

Property Type

Other

Est. Annual Taxes

$5,107

Year Built

Built in 1973

Lot Details

0

Listing Details

  • Cross Street: UNIVERSITY AND STAPLEY
  • Legal Info Range: 5E
  • Property Type: Comm/Industry Sale
  • Zoning: C-2, LTD.COMM.
  • Number Of Buildings: 5
  • Ownership: Fee Simple
  • Year Built: 1973
  • Tax Year: 2014
  • Directions: WEST ON UNIVERSITY TO BUILDINGS ON NORTHSIDE OF ROAD.
  • Lot Size Acres: 0.66
  • Road Surface Type: Asphalt, Curb(s) & Gutter(s), Sidewalk(s)
  • Professional Management Expense: 4800.0
  • Subdivision Name: PARADISE PARKWAY 3
  • Structure Type: Office
  • Special Features: None
  • Property Sub Type: Other

Interior Features

  • Flooring: Concrete
  • Living Area: 5612.0

Exterior Features

  • Fencing: Block
  • Disclosures: Seller Prop Disc Stm
  • Construction Type: Block
  • Roof: Built-Up
  • Construction:Block: Yes

Garage/Parking

  • Parking Features: Paved Parking, Free
  • Attached Garage: No
  • Open Parking Spaces: 32.0
  • Total Parking Spaces: 32.0
  • General Property Description:Uncvrd Parking Spcs: 32.0
  • General Property Description:Total Parking Spcs: 32.0
  • Parking:Free: Yes
  • Parking:Paved Parking: Yes

Utilities

  • Electric: Individual Meter, SRP
  • Cooling: Central A/C
  • Heating: Electric
  • Water Source: City Franchise
  • Heating:Electric: Yes

Fee Information

  • Annual Fuel Expense: 441.59
  • Trash Expense: 475.7
  • Annual Water Sewer Expense: 5119.47

Lot Info

  • Lot Size: Two Parcels-137-39-058A & 059
  • Lot Size Sq Ft: 28778.0
  • Parcel #: 137-39-059
  • ResoLotSizeUnits: SquareFeet

Multi Family

  • Electric Expense: 7061.68
  • Annual Gross Income: 75839.17
  • Insurance Expense: 763.0
  • Property Net Operating Income: 33614.05
  • Annual Operating Expense: 38994.74
  • Leasable Area: 4749.0

Tax Info

  • Tax Annual Amount: 5107.2
  • Tax Book Number: 137.00
  • Tax Lot: 0
  • Tax Map Number: 39.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 1, 2014
Closed on
Aug 11, 2015
Sold by
Grimes Wesley Dean and Grimes Betty Ann
Bought by
J & M Arizona Properties Llc
Seller's Agent
Dorene Longfellow
First Road Property Advisors, LLC
Buyer's Agent
Maria Cohen
MC Dream Builders Realty, LLC
List Price
$379,000
Sold Price
$290,030
Premium/Discount to List
-$88,970
-23.47%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$261,000
Interest Rate
3.97%
Mortgage Type
Commercial

Purchase Details

Closed on
Jul 19, 2010
Sold by
Scotts Clinical Laboratory Inc
Bought by
Gililland John L and Gililland Virginia L

Purchase Details

Closed on
Mar 22, 2000
Sold by
Grimes Wesley Dean and Grimes Betty Ann
Bought by
Grimes Wesley Dean and Grimes Betty Ann

Purchase Details

Closed on
Jun 18, 1997
Sold by
Woudenberg John and The Woudenberg Family Trust
Bought by
Arroyo Arthur G and Arroyo Alicia

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$115,000
Interest Rate
7.58%
Mortgage Type
Seller Take Back
Source: Public Records

Range of Values:

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Average Value
Not Available
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
J & M Arizona Properties Llc $290,030 Chicago Title Agency
Gililland John L -- None Available
Grimes Wesley Dean -- --
Arroyo Arthur G $195,000 Chicago Title Insurance Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open J & M Arizona Properties Llc $250,424
Closed J & M Arizona Properties Llc $261,000
Previous Owner The Grimes Living Trust $240,000
Previous Owner Arroyo Arthur G $115,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/17/2015 08/17/15 Sold $290,030 -23.5% $52 / Sq Ft
06/18/2015 06/18/15 Pending -- -- --
08/01/2013 08/01/13 For Sale $379,000 -- $68 / 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 $4,144 $40,939 -- --
2024 $4,304 $40,208 -- --
2023 $4,304 $70,312 $38,403 $31,909
2022 $4,340 $71,558 $28,665 $42,893
2021 $4,518 $64,062 $29,484 $34,578
2020 $4,459 $61,200 $20,250 $40,950
2019 $4,166 $43,236 $20,412 $22,824
2018 $3,999 $43,956 $18,648 $25,308
2017 $3,879 $31,173 $11,255 $19,918
2016 $3,998 $31,173 $11,255 $19,918
2015 $4,983 $39,376 $14,217 $25,159
Source: Public Records

Agents Affiliated with this Home

  • Dorene Longfellow

    Seller's Agent in 2015

    Dorene Longfellow

    First Road Property Advisors, LLC

    (602) 478-4188

    14 Total Sales

    Dorene Longfellow
    Section Image
  • Maria Cohen

    Buyer's Agent in 2015

    Maria Cohen

    MC Dream Builders Realty, LLC

    (928) 970-2057

    11 Total Sales

    Maria Cohen
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 4985987

Arizona Regional Multiple Listing Service (ARMLS)

APN: 137-39-059

Arizona Maricopa County Mesa 85203 Mesa Patios

1540 E University Dr, Mesa, AZ

This home is located at 1540 E University Dr, Mesa, AZ 85203 since 01 September 2014. This property was built in 1973. 1540 E University Dr is a home located in Maricopa County with nearby schools including Michael T. Hughes Elementary School, Franklin at Brimhall Elementary School, and Franklin West Elementary School.

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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