NOT LISTED FOR SALE

2228 E Broadway Rd Mesa, AZ 85204

Central Mesa Neighborhood

Estimated Value: $482,984 - $835,000

-- Bed
-- Bath
3,400 Sq Ft
$179/Sq Ft Est. Value

Last Sold May 09, 2016

Last sale price $235,000 $69 Per Sq Ft

Est. 159% increase in value since last sale

Current estimated payment $3,284/month

23 Days on Market

Highlights

  • Multiple cooling system units
  • Franklin at Brimhall Elementary School Rated A
  • Individual Controls for Heating

About This Home

As of May 2016

Solid cash flow property with a great mix of all 2 bedroom units. Rents are $620/unit, M-T-M per owner. About 850 sq ft/unit. Separate central air units. On-site caretaker. Built in 1980. 1 story, block. Parking in back off alley. Expenses are estimated. Buyer to complete and rely on own due diligence. No showings until accepted offer. Drive by only.

Last Agent to Sell the Property

James Stephens

Better Homes & Gardens Real Estate SJ Fowler License #BR650365000 Listed on: 02/02/2016

Better Homes & Gardens Real Estate SJ Fowler

Last Buyer's Agent

Laura Good

Better Homes & Gardens Real Estate SJ Fowler License #SA639563000

Better Homes & Gardens Real Estate SJ Fowler

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,036

Year Built

  • Built in 1980

Lot Details

  • 8,756

Home Design

  • Composition Roof
  • Block Exterior

Parking

  • 4 Parking Spaces
  • 4 Covered Spaces
  • Common or Shared Parking

Schools

  • Robson Elementary School
  • Taylor Junior High School
  • Mesa High School

Utilities

  • Multiple cooling system units
  • Central Air
  • Individual Controls for Heating
  • Master Water Meter

Listing and Financial Details

  • Tenant pays for cable TV
  • The owner pays for trash collection, water, sewer
  • Tax Lot 84
  • Assessor Parcel Number 140-25-494

Community Details

Overview

  • 4 Units
  • Building Dimensions are IRR
  • Oak Park Mesa 2 Subdivision

Building Details

  • Operating Expense $10,931
  • Gross Income $28,272
  • Net Operating Income $18,377

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,036

Year Built

Built in 1980

Lot Details

0

Listing Details

  • Cross Street: BROADWAY/GILBERT
  • Legal Info Range: 6E
  • Property Type: Multiple Dwellings
  • Zoning: RM-3
  • Number Of Buildings: 1
  • Year Built: 1980
  • Tax Year: 2015
  • Road Surface Type: Asphalt
  • Subdivision Name: Oak Park Mesa 2
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Other
  • Appliances Included:Refrigerator: Yes
  • Appliances Included:Disposal: Yes
  • Appliances Included:BI OvenRange: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Painted, Block
  • Roof: Composition
  • Construction:Block: Yes

Garage/Parking

  • Total Covered Spaces: 4.0
  • Parking Features: Common
  • Attached Garage: No
  • Total Parking Spaces: 4.0
  • General Property Description:Covered Parking Spcs: 4.0
  • General Property Description:Total Parking Spcs: 4.0
  • Parking:Carport: Yes
  • Parking:Free: Yes
  • Parking:_one_ SpaceUnit: Yes

Utilities

  • Electric: SRP, Individual Meter
  • Cooling: 2 or More Units, Central A/C, Individual, Electric
  • Heating: Individual, Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise, Master Meter
  • Heating:Electric: Yes
  • Heating:Individual: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Exterior Amenities:PatioBalcony: Yes
  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Partially Fenced: Yes
  • Interior Amenities:Unfurnished: Yes

Schools

  • Elementary School: Robson Elementary School
  • High School: Mesa High School
  • Middle Or Junior School: Taylor Junior High School

Lot Info

  • Lot Size: IRR
  • Additional Parcels: No
  • Parcel #: 140-25-494

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer
  • Tenant Pays: Cable TV
  • Number Of Units Total: 4
  • Annual Gross Income: 28272.0
  • Property Net Operating Income: 18377.0
  • Annual Operating Expense: 10931.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 1036.0
  • Tax Book Number: 140.00
  • Tax Lot: 84

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Sep 25, 2024
Sold by
Kzlm Rentals Llc
Bought by
Broadway 2228 Llc
Current Estimated Value
$607,496

Purchase Details

Closed on
Jul 7, 2017
Sold by
Margolis Leigh M and Leigh M Margolis Trust
Bought by
Kzlm Rentals Llc

Purchase Details

Listed on
Feb 2, 2016
Closed on
Apr 21, 2016
Sold by
Torres Zoila M
Bought by
Torres Zoila M
Seller's Agent
James Stephens
Better Homes & Gardens Real Estate SJ Fowler
Buyer's Agent
Laura Good
Better Homes & Gardens Real Estate SJ Fowler
List Price
$240,000
Sold Price
$235,000
Premium/Discount to List
-$5,000
-2.08%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
10.32%
Original Mortgage
$176,250
Interest Rate
3.71%
Mortgage Type
New Conventional

Purchase Details

Closed on
Mar 6, 2016
Sold by
Torres Zoila M
Bought by
Margolis Leigh M and The Leigh M Margolis Trust

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$176,250
Interest Rate
3.71%
Mortgage Type
New Conventional

Purchase Details

Closed on
Feb 23, 2006
Sold by
Torres Ramon
Bought by
Torres Ramon and Torres Zoila

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$240,000
Interest Rate
1.5%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Oct 18, 2003
Sold by
Warg Paul A and Warg Kay H
Bought by
Torres Ramon

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$184,500
Interest Rate
6.62%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Broadway 2228 Llc -- None Listed On Document
Kzlm Rentals Llc -- None Available
Torres Zoila M -- Accommodation
Margolis Leigh M $235,000 First American Title Ins Co
Torres Ramon -- Alliance Title Company
Torres Ramon $205,000 Lawyers Title Insurance Corp
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Margolis Leigh M $176,250
Previous Owner Torres Ramon $240,000
Previous Owner Torres Ramon $184,500
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/09/2016 05/09/16 Sold $235,000 -2.1% $69 / Sq Ft
02/24/2016 02/24/16 Pending -- -- --
02/01/2016 02/01/16 For Sale $240,000 -- $71 / 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 $1,315 $13,328 -- --
2024 $1,319 $12,693 -- --
2023 $1,319 $51,060 $10,210 $40,850
2022 $1,292 $36,150 $7,230 $28,920
2021 $1,307 $31,160 $6,230 $24,930
2020 $1,290 $27,880 $5,570 $22,310
2019 $1,206 $20,810 $4,160 $16,650
2018 $1,157 $18,380 $3,670 $14,710
2017 $1,123 $15,860 $3,170 $12,690
2016 $1,102 $14,600 $2,920 $11,680
2015 $1,036 $13,510 $2,700 $10,810
Source: Public Records

Agents Affiliated with this Home

  • J

    Seller's Agent in 2016

    James Stephens

    Better Homes & Gardens Real Estate SJ Fowler

    (602) 672-3526

    1 in this area

    50 Total Sales

    James Stephens
    Section Image
  • Laura Good

    Buyer's Agent in 2016

    Laura Good

    Better Homes & Gardens Real Estate SJ Fowler

    (480) 649-3536

    41 Total Sales

    Laura Good
    Section Image
See All Agents

Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5392658

Arizona Regional Multiple Listing Service (ARMLS)

APN: 140-25-494

Arizona Maricopa County Mesa 85204 Central Mesa

2228 E Broadway Rd, Mesa, AZ

Not Listed for Sale

MultiFamily

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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