NOT LISTED FOR SALE

Estimated Value: $710,413 - $839,000

-- Bed
-- Bath
3,264 Sq Ft
$243/Sq Ft Est. Value

Last Sold June 04, 2018

Last sale price $435,000 $133 Per Sq Ft

Est. 82% increase in value since last sale

Current estimated payment $4,542/month

3 Days on Market

Highlights

  • Ceramic Tile Flooring
  • Central Air
  • Heat Pump System
  • Macarthur Elementary School Rated A-
  • Ceiling Fan

About This Home

As of June 2018

Awesome Apartment Style 4plex in North Central Mesa area! High demand rental area. Four 2 bedroom/1 bath, 832sf apartment units, for a total of 3264sf of liveable space. Two Upper & Two Lower units. ALL 4 Air Conditioning units were replaced in 2016 & 2017! Each apartment unit is INDIVIDUALLY metered, so TENANTS PAY ALL utilities! Each unit also has its own STACKABLE Washer & Dryer in patio storage room! Unit 201's bath was completely renovated from ceiling to sub-floor in 2014! .29 acre lot! Lower units have their own backyards! Rents are as follows: #101 - $675.00; #102 - $700; #201 - $675 as of 1 June; and #202 - $700, which equals $2750/mo or $33,000/year! Room to increase rents to area average of $795/mo as tenants rotate out/in!

Last Listed By

Perry Toro

eXp Realty License #BR563736000 Listed on: 05/11/2018

eXp Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,528

Year Built

  • Built in 1983

Lot Details

  • 0.29

Home Design

  • Wood Frame Construction
  • Composition Roof
  • Stucco

Interior Spaces

  • Ceiling Fan

Flooring

  • Carpet
  • Ceramic Tile

Parking

  • 6 Open Parking Spaces
  • 6 Parking Spaces
  • Free Parking
  • Assigned Parking

Utilities

  • Central Air
  • Heat Pump System

Listing and Financial Details

  • Tenant pays for trash collection, electricity, water, sewer, cable TV
  • Tax Lot 5
  • Assessor Parcel Number 136-07-163

Community Details

Overview

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

Building Details

  • Operating Expense $3,728
  • Gross Income $31,350
  • Net Operating Income $27,622

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,528

Year Built

Built in 1983

Lot Details

0

Listing Details

  • Cross Street: McKellips Rd & Stapley Drive
  • Legal Info Range: 5E
  • Property Type: Multiple Dwellings
  • Zoning: R-3 [M-M]
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1983
  • Tax Year: 2017
  • Directions: From intersection, go East on McKellips to Hunt Circle (right before light at Harris Drive) and turn left into cul-de-sac. 2032 is the Lavender colored building at the end.
  • Road Surface Type: Asphalt
  • Subdivision Name: NORTH GATE GARDENS LOT 1-11
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Carpet, Ceramic Tile
  • Appliances: F/S Oven/Range, Washer/Dryer
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:WasherDryer: Yes
  • Appliances Included:Refrigerator2: Yes
  • Appliances Included:Dishwasher2: Yes
  • Appliances Included:Disposal2: Yes

Exterior Features

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

Garage/Parking

  • Parking Features: Free, Assigned, 1 Space/Unit
  • Attached Garage: No
  • Open Parking Spaces: 6.0
  • Total Parking Spaces: 6.0
  • General Property Description:Uncvrd Parking Spcs: 6.0
  • General Property Description:Total Parking Spcs: 6.0
  • Parking:Free: Yes
  • Parking:Assigned: Yes

Utilities

  • Electric: SRP
  • Cooling: Ceiling Fan(s), Electric, Individual, Central A/C
  • Heating: Heat Pump, Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes
  • Heating:Heat Pump2: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Exterior Amenities:Fenced3: Yes
  • Exterior Amenities:Cable TV Available: Yes
  • Exterior Amenities:PatioBalcony: Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Desert Landscaping: Yes
  • Interior Amenities:Unfurnished: Yes

Schools

  • Junior High Dist: Mesa Unified District

Lot Info

  • Lot Size: IRR
  • Additional Parcels: No
  • Parcel #: 136-07-163

Multi Family

  • Owner Pays: None
  • Tenant Pays: Trash Collection, Electricity, Water, Sewer, Cable TV
  • Number Of Units Total: 4
  • Annual Gross Income: 31350.0
  • Maintenance Expense: 1700.0
  • Property Net Operating Income: 27622.0
  • Annual Operating Expense: 3728.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 1528.0
  • Tax Book Number: 136.00
  • Tax Lot: 5

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 11, 2018
Closed on
May 25, 2018
Sold by
Tepee Llc
Bought by
Hsieh Jerry and Lo Patricia
Seller's Agent
Perry Toro
eXp Realty
Buyer's Agent
Ryan Swan
HomeSmart
List Price
$449,000
Sold Price
$435,000
Premium/Discount to List
-$14,000
-3.12%
Total Days on Market
3
Current Estimated Value
$792,603

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$357,603
Avg. Annual Appreciation
8.55%
Original Mortgage
$326,200
Outstanding Balance
$287,924
Interest Rate
4.99%
Mortgage Type
Adjustable Rate Mortgage/ARM
Estimated Equity
$481,299

Purchase Details

Closed on
Aug 18, 2009
Sold by
Toro Perry D and Coffer Perry D
Bought by
Tepee Llc

Purchase Details

Closed on
Feb 4, 2008
Sold by
Tepee Llc
Bought by
Coffer Perry D

Purchase Details

Closed on
Jun 6, 2006
Sold by
Coffer Perry D
Bought by
Tepee Llc

Purchase Details

Closed on
Sep 30, 2004
Sold by
Barrus Melvin H and Barrus Beth B
Bought by
Coffer Perry D

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$234,810
Interest Rate
6.99%
Mortgage Type
New Conventional

Purchase Details

Closed on
Oct 29, 1999
Sold by
Ashcroft Brian
Bought by
Ashcroft Alan H and Ashcroft Nancy M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$138,400
Interest Rate
7.75%
Mortgage Type
New Conventional

Purchase Details

Closed on
Oct 27, 1999
Sold by
Ashcroft Alan H and Ashcroft Nancy M
Bought by
Barrus Melvin H and Barrus Beth B

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$138,400
Interest Rate
7.75%
Mortgage Type
New Conventional

Purchase Details

Closed on
Sep 15, 1997
Sold by
Ruiz John F and Ruiz Maria
Bought by
Ashcroft Alan H and Ashcroft Nancy M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$119,000
Interest Rate
9.5%
Mortgage Type
New Conventional

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
Hsieh Jerry $435,000 Wfg National Title Insurance
Tepee Llc -- None Available
Coffer Perry D -- None Available
Tepee Llc -- None Available
Coffer Perry D $260,900 Fidelity National Title
Ashcroft Alan H -- Security Title Agency
Barrus Melvin H $175,000 Security Title Agency
Ashcroft Alan H $140,000 Chicago Title Insurance Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Hsieh Jerry $326,200
Previous Owner Coffer Perry D $304,000
Previous Owner Coffer Perry D $234,810
Previous Owner Barrus Melvin H $161,600
Previous Owner Barrus Melvin H $138,400
Previous Owner Ashcroft Alan H $119,000
Closed Barrus Melvin H $17,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/04/2018 06/04/18 Sold $435,000 -3.1% $133 / Sq Ft
06/01/2018 06/01/18 For Sale $449,000 0.0% $138 / Sq Ft
06/01/2018 06/01/18 Price Changed $449,000 0.0% $138 / Sq Ft
05/14/2018 05/14/18 Pending -- -- --
05/11/2018 05/11/18 For Sale $449,000 -- $138 / 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 $1,780 $18,135 -- --
2024 $1,795 $17,272 -- --
2023 $1,795 $61,050 $12,210 $48,840
2022 $1,758 $46,460 $9,290 $37,170
2021 $1,779 $40,860 $8,170 $32,690
2020 $1,756 $36,260 $7,250 $29,010
2019 $1,640 $30,430 $6,080 $24,350
2018 $1,574 $27,120 $5,420 $21,700
2017 $1,528 $23,610 $4,720 $18,890
2016 $1,499 $21,710 $4,340 $17,370
2015 $1,409 $20,160 $4,030 $16,130
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5765198

Arizona Regional Multiple Listing Service (ARMLS)

APN: 136-07-163