NOT LISTED FOR SALE
2 Beds
1 Bath
750 Sq Ft
1971 Built

Sale Details

Date Sold: September 18, 2024

Last sale price $750,000 $1,000 Per Sq Ft

7 Days on Market

Highlights

  • Ceramic Tile Flooring
  • Central Air
  • Heating unit installed on the ceiling
  • Franklin at Brimhall Elementary School Rated A

About This Home

As of September 2024

This property comprises of five units and features a courtyard, offering a unique and appealing layout. Located near the ongoing rehabilitation of downtown Mesa and the Mesa LDS Temple, both of which are major drivers of community revitalization and increased property value in the area. The property presents significant upside potential through a targeted interior and exterior renovation program making it an attractive investment opportunity in a rapidly improving neighborhood.

Last Agent to Sell the Property

Colt Siler

Orion Investment Real Estate License #SA691810000 Listed on: 08/12/2024

Co-Listed By

Garrett Hemeyer

Orion Investment Real Estate License #SA684184000

Last Buyer's Agent

Garrett Hemeyer

Orion Investment Real Estate License #SA684184000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,929

Year Built

  • Built in 1971

Home Design

  • Brick Exterior Construction
  • Composition Roof

Flooring

  • Ceramic Tile
  • Vinyl

Parking

  • 6 Parking Spaces
  • 6 Covered Spaces
  • Common or Shared Parking

Utilities

  • Central Air
  • Heating unit installed on the ceiling

Listing and Financial Details

  • Tax Lot 14
  • Assessor Parcel Number 138-21-018-B

Community Details

Overview

  • 2 Buildings
  • 5 Units
  • Building Dimensions are Normal
  • Fraser Fields Lots 17 47, 66 96 Subdivision

Building Details

  • Operating Expense $1,929
  • Gross Income $61,560
  • Net Operating Income $48,600

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,929

Year Built

Built in 1971

Listing Details

  • Cross Street: Horne & University
  • Legal Info Range: 5E
  • Property Type: Multiple Dwellings
  • Zoning: RM-2
  • Number Of Buildings: 2
  • Ownership: Fee Simple
  • Year Built: 1971
  • Tax Year: 2023
  • Road Surface Type: Dedicated Street, Curb(s) & Gutter(s)
  • Co List Office Mls Id: mlso106
  • Co List Office Phone: 480-634-6934
  • Subdivision Name: FRASER FIELDS LOTS 17-47, 66-96
  • Tax Parcel Letter: B
  • Construction Brick: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Ceramic Tile, Vinyl
  • Appliances: F/S Oven/Range
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator2: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Brick
  • Roof: Composition

Garage/Parking

  • Total Covered Spaces: 6.0
  • Parking Features: Common
  • Attached Garage: No
  • Total Parking Spaces: 6.0
  • General Property Description:Covered Parking Spcs: 6.0
  • General Property Description:Total Parking Spcs: 6.0
  • Parking:Carport: Yes

Utilities

  • Electric: APS
  • Cooling: Central A/C
  • Heating: Ceiling
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Ceiling: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

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

Schools

  • Junior High Dist: Mesa Unified District

Lot Info

  • Lot Size: Normal
  • Additional Parcels: No
  • Parcel #: 138-21-018-B

Multi Family

  • Owner Pays: See Remarks
  • Tenant Pays: See Remarks
  • Number Of Units Total: 5
  • Annual Gross Income: 61560.0
  • Property Net Operating Income: 48600.0
  • Annual Operating Expense: 1929.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 1929.0
  • Tax Book Number: 138.00
  • Tax Lot: 14

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 12, 2024
Closed on
Sep 16, 2024
Sold by
Bought by
Seller's Agent
Colt Siler
Orion Investment Real Estate
Buyer's Agent
Garrett Hemeyer
Orion Investment Real Estate
List Price
$888,000
Sold Price
$750,000
Premium/Discount to List
-$138,000
-15.54%
Views
5

Purchase Details

Closed on
Apr 5, 2005
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$235,200
Interest Rate
0.0584%
Mortgage Type
Commercial

Purchase Details

Closed on
Sep 3, 2002
Sold by
Bought by
Source: Public Records
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$750,000 Commonwealth Land Title
$336,000 Alliance Title Partners
$236,500 Capital Title Agency Inc
-- Capital Title Agency Inc
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $700,000
Previous Owner $235,200
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
09/18/2024 09/18/24 Sold $750,000 -15.5% $1,000 / Sq Ft
08/12/2024 08/12/24 For Sale $888,000 -- $1,184 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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 $1,923 $19,489
2024 $1,929 $18,561
2023 $1,929 $72,920 $14,580 $58,340
2022 $1,889 $54,310 $10,860 $43,450
2021 $1,912 $44,880 $8,970 $35,910
2020 $1,887 $40,250 $8,050 $32,200
2019 $1,763 $33,610 $6,720 $26,890
2018 $1,692 $30,160 $6,030 $24,130
2017 $1,642 $24,350 $4,870 $19,480
2016 $1,611 $23,150 $4,630 $18,520
2015 $1,514 $20,450 $4,090 $16,360
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6742818

Arizona Regional Multiple Listing Service (ARMLS)
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