NOT LISTED FOR SALE

1551 E University Dr Unit 5 Mesa, AZ 85203

Reed Park Neighborhood
-- Bed
-- Bath
6,091 Sq Ft
0.4 Acres

Last Sold December 11, 2017

Last sale price $450,000 $74 Per Sq Ft

380 Days on Market

Highlights

  • 0.4 Acre Lot
  • Community Kitchen
  • Heating System Uses Natural Gas
  • Franklin at Brimhall Elementary School Rated A
  • Central Air

About This Home

As of December 2017

Medical Office Building For Sale. Major Cross streets Gilbert Rd. and University Drive. Conveniently located on a corner lot in the suburb of Mesa. 3 New AC Units added less than a year ago and metal roof less than 10 years old. Built out Basement and many other amenities. A lot of Potential with this Property, Check it out!

Last Listed By

Linda Olchawa

DeLex Realty License #BR574725000 Listed on: 11/18/2016

DeLex Realty

Property Details

Property Type

  • Other

Year Built

  • Built in 1977

Lot Details

  • 0.4 Acre Lot
  • Property is zoned RM-4

Home Design

  • 6,091 Sq Ft Home
  • Concrete Roof
  • Block Exterior

Parking

  • 20 Parking Spaces
  • 10 Covered Spaces

Utilities

  • Central Air
  • Heating System Uses Natural Gas

Additional Features

  • Basement

Community Details

  • Sherwood Mesa 5 Subdivision
  • Community Kitchen
  • Operating Expense $296,596

Listing and Financial Details

  • Tax Lot 5
  • Assessor Parcel Number 138-06-147

Property Details

Property Type

Other

Year Built

Built in 1977

Lot Details

0

Listing Details

  • Cross Street: Gilbert Rd. and University Drive
  • Legal Info Range: 5E
  • Property Type: Comm/Industry Sale
  • Zoning: RM-4
  • Current Use: Medical/Dental
  • Number Of Buildings: 1
  • Year Built: 1977
  • Tax Year: 2016
  • Directions: West of Gilbert Rd. on University Drive. Turn left on E. 2nd Place. Office sits on the corner of University Dr. and 2nd Place.
  • Lot Size Acres: 0.4
  • Road Surface Type: Asphalt, Sidewalk(s)
  • Co List Office Mls Id: perk001
  • Co List Office Phone: 480-830-5695
  • Subdivision Name: SHERWOOD MESA 5
  • Structure Type: Commercial
  • Special Features: None
  • Property Sub Type: Other

Exterior Features

  • Fencing: None
  • Construction Type: Block
  • Roof: See Remarks, Concrete
  • Construction:Block: Yes

Garage/Parking

  • Total Covered Spaces: 10.0
  • Open Parking Spaces: 10.0
  • Total Parking Spaces: 20.0
  • General Property Description:Covered Parking Spcs: 10.0
  • General Property Description:Uncvrd Parking Spcs: 10.0
  • General Property Description:Total Parking Spcs: 20.0
  • Parking:Free: Yes
  • Parking:Paved Parking: Yes
  • Parking:Parking Structure: Yes

Utilities

  • Electric: SRP
  • Cooling: Central A/C
  • Heating: Electric, Natural Gas
  • Green Building Features: Basement, Kitchen
  • Heating:Natural Gas: Yes
  • Heating:Electric: Yes

Association/Amenities

  • Amenities:Kitchen: Yes
  • Amenities:Basement: Yes

Lot Info

  • Lot Size Sq Ft: 17206.0
  • Additional Parcels: No
  • Parcel #: 138-06-147
  • ResoLotSizeUnits: SquareFeet

Multi Family

  • Electric Expense: 8700.0
  • Insurance Expense: 1596.0
  • Annual Operating Expense: 296596.0

Tax Info

  • Tax Annual Amount: 284200.0
  • Tax Book Number: 138.00
  • Tax Lot: 5
  • Tax Map Number: 6.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jul 16, 2024
Sold by
Chad Llc
Bought by
Lucky Mac Llc
Total Days on Market
380

Purchase Details

Closed on
Sep 27, 2023
Sold by
Lucky Mac Llc
Bought by
Chad Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$104,000
Interest Rate
7.09%
Mortgage Type
New Conventional

Purchase Details

Closed on
Mar 21, 2022
Sold by
Cash Flow Holdings Llc
Bought by
Chad Llc

Purchase Details

Closed on
Apr 2, 2019
Sold by
Olympus Davis Investments Llc
Bought by
Cash Flow 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
$400,000
Interest Rate
4.3%
Mortgage Type
New Conventional

Purchase Details

Closed on
Mar 22, 2019
Sold by
Stadick Karl L and Stadick Penny J
Bought by
Olympus Davis Investments Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$400,000
Interest Rate
4.3%
Mortgage Type
New Conventional

Purchase Details

Listed on
Nov 18, 2016
Closed on
Nov 28, 2017
Sold by
Olympus Davis Investments Llc
Bought by
Stadick Karl L and Stadick Penny J
Seller's Agent
Linda Olchawa
DeLex Realty
Buyer's Agent
Brian England
Ambrose Realty Management LLC
List Price
$450,000
Sold Price
$450,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$405,000
Interest Rate
3.94%
Mortgage Type
Commercial

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
Lucky Mac Llc -- --
Chad Llc -- Empire Title Agency
Chad Llc -- --
Cash Flow Holdings Llc $400,000 Driggs Title Agency Inc
Olympus Davis Investments Llc $400,000 None Available
Stadick Karl L $450,000 Driggs Title Agency Inc
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Chad Llc $104,000
Previous Owner Cash Flow Holdings Llc $304,332
Previous Owner Cash Flow Holdings Llc $400,000
Previous Owner Stadick Karl L $405,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/11/2017 12/11/17 Sold $450,000 0.0% $74 / Sq Ft
12/01/2017 12/01/17 Pending -- -- --
09/29/2017 09/29/17 For Sale $450,000 0.0% $74 / Sq Ft
09/27/2017 09/27/17 Pending -- -- --
08/24/2017 08/24/17 Price Changed $450,000 -14.3% $74 / Sq Ft
06/26/2017 06/26/17 Price Changed $525,000 -20.5% $86 / Sq Ft
11/16/2016 11/16/16 For Sale $660,000 -- $108 / 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 $6,529 $64,500 -- --
2024 $6,782 $63,349 -- --
2023 $6,782 $97,665 $28,951 $68,714
2022 $6,837 $96,600 $30,590 $66,010
2021 $7,118 $99,558 $31,464 $68,094
2020 $7,025 $84,456 $21,636 $62,820
2019 $6,564 $77,580 $21,528 $56,052
2018 $6,300 $59,238 $20,502 $38,736
2017 $6,112 $59,778 $18,990 $40,788
2016 $5,999 $51,156 $16,956 $34,200
2015 $5,795 $45,955 $13,783 $32,172
Source: Public Records

Agents Affiliated with this Home

  • L

    Seller's Agent in 2017

    Linda Olchawa

    DeLex Realty

    (602) 743-7906

    9 Total Sales

    Linda Olchawa
    Section Image

  • S

    Seller Co-Listing Agent in 2017

    Scott Perkinson

    Perk Prop Real Estate

    (480) 830-5695

    Section Image
  • Brian England

    Buyer's Agent in 2017

    Brian England

    Ambrose Realty Management LLC

    (480) 773-2370

    10 Total Sales

    Brian England
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5527106

Arizona Regional Multiple Listing Service (ARMLS)

APN: 138-06-147

Arizona Maricopa County Mesa 85203 Reed Park

1551 E University Dr Unit 5, Mesa, AZ

Homes for Sale in Mesa, AZ

This home is located at 1551 E University Dr Unit 5, Mesa, AZ 85203 since 18 November 2016. This property was built in 1977. 1551 E University Dr Unit 5 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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