NOT LISTED FOR SALE

2650 E Mckellips Rd Unit 23 Mesa, AZ 85213

Rancho de Arboleda Neighborhood

Estimated Value: $611,014 - $950,000

8 Beds
4 Baths
750 Sq Ft
$1,041/Sq Ft Est. Value

Last Sold December 20, 2012

Last sale price $223,500 $298 Per Sq Ft

Est. 249% increase in value since last sale

Current estimated payment $4,455/month

186 Days on Market

Highlights

  • Heated Community Pool
  • Sport Court
  • Painted or Stained Flooring
  • Hermosa Vista Elementary School Rated A-
  • Cooling Available
  • Heating Available

About This Home

As of December 2012

TURN KEY MULTI FAMILY INVESTMENT PROPERTY!!! All 4 rental units were recently updated including cabinets, countertops,ceramic tile & carpet. The building has a coin laundry room for tenants convenience with leased laundry equipment. Three 2/1 units & One 2/2 with fireplace are all rented for a GROSS RENTAL INCOME of $29,700 less 5% vacancy ratio of $1485 plus $144 laundry equipment income = $28,359 adjusted gross income. Projected annual expenses of $10,132 will result in a net annual income of $18,227.00, operating at a 7.4% CAP Rate. Community pool and sports court on site. HOA maintains pool,parking, common areas and handles trash pick up.

Last Agent to Sell the Property

Terry Hess

Gentry Real Estate License #SA631942000 Listed on: 06/06/2012

Gentry Real Estate

Last Buyer's Agent

Greg Patt

Greg Patt Real Estate License #BR011560000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,743

Year Built

  • Built in 1985

Lot Details

  • 5,793

Parking

  • Over 1 Space Per Unit

Home Design

  • Wood Frame Construction
  • Tile Roof
  • Rolled or Hot Mop Roof
  • Stucco

Kitchen

  • Oven or Range
  • Free-Standing Electric Oven
  • Dishwasher
  • Disposal

Flooring

  • Painted or Stained Flooring
  • Carpet
  • Ceramic Tile

Utilities

  • Cooling Available
  • Heating Available

Listing and Financial Details

  • Tenant pays for cable TV, electric
  • The owner pays for sewer, trash collection, water

Community Details

Overview

  • $1,345 per year Dock Fee
  • 4 Units
  • Building Dimensions are 5863 SF

Recreation

  • Sport Court
  • Heated Community Pool

Building Details

  • Insurance Expense $1,204

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,743

Year Built

Built in 1985

Lot Details

0

Listing Details

  • Tax Municipality: Mesa
  • Appliances Included: Dishwasher, Disposal, F/S Oven/Range, Refrigerator
  • Construction Finish: Painted, Stucco
  • Cross Street: Lindsay & McKellips
  • Floors: Carpet, Ceramic Tile
  • Legal Info Lot Number: 23
  • Roads Streets: Asphalt, Private Street
  • Property Type: F
  • Hndrd Blk Directionl: E
  • Hundred Block: 2600
  • Marketing Name: Four Peaks Estates
  • Ownership: Fee Simple
  • Uncvrd Parking Spcs: 8.00
  • Map Code Grid: Q40
  • Year Built: 1985
  • Tax Year: 2011
  • Directions: Located just West Of Lindsey on the North side of McKellips, Unit 23 is the 2nd building off McKellips on the East side of the complex.
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Interior Amenities: Fire/Smoke Alarm(s), Mini Blinds

Exterior Features

  • Exterior Amenities: Cable TV Available, Desert Landscaping
  • Roofing: Rolled, Tile
  • Construction: Frame - Wood

Garage/Parking

  • Parking: >1 Space Per Unit
  • Total Parking Spaces: 8.00

Utilities

  • Water: City Franchise
  • Electric: SRP
  • Gas: City Gas
  • Cooling: Electric
  • Heating: Electric

Condo/Co-op/Association

  • Community Amenities: Pool, Sport Court

Lot Info

  • Lot Size: 5863 SF

Multi Family

  • Income And Expenses Adjusted Gross Inc: 136.80
  • Income And Expenses Annual Elec Exp: 540.00
  • Income And Expenses Annual Ins Exp: 1204.00
  • Income And Expenses Annual Maint Exp: 1200.00
  • Income And Expenses Annual Mgmt Exp: 2079.00
  • Income And Expenses Annual Ownr Asoc Fee: 2904.00
  • Income And Expenses Annual Water Sewer Exp: 860.00
  • Income And Expenses Net Operating Income: 18226.68
  • Income And Expenses Operating Exp: 10132.00
  • Income And Expenses Other Income: 144.00
  • Income And Expenses Owner Association: Yes
  • Income And Expenses Totl Mnth Rntal Inc: 28359.00
  • Income And Expenses Vacancy Allowance: 0.05
  • Number Of Two Bedroom Units: 4
  • Owner Pays: Sewer, Trash Collection, Water
  • Tenant Pays: Cable TV, Electric
  • Total Numberof Buildings: 1
  • Total Numberof Units: 4.00
  • Two Bedroom Units Avg Rent: 618.75
  • Two Bedroom Units Avg Sq Ft: 750
  • Two Bedroom Units Baths: 1

Tax Info

  • Taxes: 1345.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Apr 2, 2013
Sold by
Cove National Llc
Bought by
2650 East Mckellips Road #23 Llc
Current Estimated Value
$780,507

Purchase Details

Listed on
Jun 6, 2012
Closed on
Dec 20, 2012
Sold by
Fish Family Partnership Llc
Bought by
Cove National Llc
Seller's Agent
Terry Hess
Gentry Real Estate
Buyer's Agent
Greg Patt
Greg Patt Real Estate
List Price
$260,381
Sold Price
$223,500
Premium/Discount to List
-$36,881
-14.16%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
10.41%

Purchase Details

Listed on
Apr 9, 2012
Closed on
Apr 25, 2012
Sold by
M J F Investments Inc
Bought by
Fish Family Partnership Llc
Seller's Agent
Nycole Leyba
Better Homes & Gardens Real Estate SJ Fowler
Buyer's Agent
Terry Hess
Gentry Real Estate
List Price
$185,000
Sold Price
$185,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
35.65%
Original Mortgage
$135,000
Interest Rate
4.05%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Mar 14, 2011
Sold by
Aurora Loan Services Llc
Bought by
Mjf Investments Inc

Purchase Details

Closed on
Sep 24, 2010
Sold by
Calderon Xochitl
Bought by
Aurora Loan Services Llc

Purchase Details

Closed on
Apr 19, 2006
Sold by
Calderon Roberto
Bought by
Calderon Xochitl

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$91,250
Interest Rate
6.29%
Mortgage Type
Stand Alone Second

Purchase Details

Closed on
Mar 28, 2006
Sold by
Hancock Marshall and Cragg Geoff
Bought by
Calderon Xochitl

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$91,250
Interest Rate
6.29%
Mortgage Type
Stand Alone Second

Purchase Details

Closed on
Apr 5, 2005
Sold by
Cragg Lynne
Bought by
Cragg Geoff

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$260,000
Interest Rate
7.62%
Mortgage Type
New Conventional

Purchase Details

Closed on
Mar 29, 2005
Sold by
Hancock Holly P
Bought by
Hancock Marshall

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$260,000
Interest Rate
7.62%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 1, 2004
Sold by
Small James R and Small Audra M
Bought by
Multivesta Holdings Llc

Purchase Details

Closed on
Jan 16, 2003
Sold by
Mikhaiel James
Bought by
Small James R and Small Audra M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$215,100
Interest Rate
6.12%
Mortgage Type
New Conventional

Purchase Details

Closed on
Nov 25, 2002
Sold by
Perry Properties 2 Llc
Bought by
Mikhaiel James

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$215,100
Interest Rate
6.12%
Mortgage Type
New Conventional

Purchase Details

Closed on
Nov 20, 2002
Sold by
Mikhaiel Flouranse
Bought by
Mikhaiel James

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$215,100
Interest Rate
6.12%
Mortgage Type
New Conventional

Purchase Details

Closed on
Sep 25, 2001
Sold by
Perry Carl W and Perry Bonita M
Bought by
Perry Properties 2 Llc

Purchase Details

Closed on
Nov 2, 2000
Sold by
Perry Carl W and Perry Bonita M
Bought by
Perry Carl W and Perry Bonita M

Purchase Details

Closed on
Apr 23, 1998
Sold by
Gallagher Rita
Bought by
Perry Carl M and Perry Bonita M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$129,600
Interest Rate
7.15%
Mortgage Type
New Conventional
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
2650 East Mckellips Road #23 Llc -- None Available
Cove National Llc $223,500 American Title Service Agenc
Fish Family Partnership Llc $185,000 Stewart Title & Trust Of Pho
Mjf Investments Inc $105,000 Fidelity National Title
Aurora Loan Services Llc $264,505 Accommodation
Calderon Xochitl -- Security Title Agency Inc
Calderon Xochitl $365,000 Security Title Agency Inc
Cragg Geoff -- Fidelity National Title
Hancock Marshall -- Fidelity National Title
Hancock Marshall $325,000 Fidelity National Title
Multivesta Holdings Llc $245,766 Fidelity National Title
Small James R $239,000 Fidelity National Title
Mikhaiel James $239,000 Chicago Title Insurance Co
Mikhaiel James -- Chicago Title Insurance Co
Perry Properties 2 Llc $137,500 --
Perry Carl W -- --
Perry Carl M $162,000 North American Title Agency
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Fish Family Partnership Llc $135,000
Previous Owner Calderon Xochitl $91,250
Previous Owner Calderon Xochitl $255,500
Previous Owner Calderon Xochitl $255,500
Previous Owner Hancock Marshall $260,000
Previous Owner Small James R $215,100
Previous Owner Perry Carl M $129,600
Closed Hancock Marshall $48,750
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/20/2012 12/20/12 Sold $223,500 -14.2% $298 / Sq Ft
12/09/2012 12/09/12 Pending -- -- --
06/06/2012 06/06/12 For Sale $260,381 +40.7% $347 / Sq Ft
05/07/2012 05/07/12 Sold $185,000 0.0% $247 / Sq Ft
04/11/2012 04/11/12 Pending -- -- --
04/09/2012 04/09/12 For Sale $185,000 -- $247 / 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 $1,743 $17,488 -- --
2024 $1,757 $16,656 -- --
2023 $1,757 $45,280 $9,050 $36,230
2022 $1,721 $35,220 $7,040 $28,180
2021 $1,737 $31,100 $6,220 $24,880
2020 $1,714 $29,080 $5,810 $23,270
2019 $1,603 $23,320 $4,660 $18,660
2018 $1,537 $22,970 $4,590 $18,380
2017 $1,492 $20,570 $4,110 $16,460
2016 $1,464 $19,280 $3,850 $15,430
2015 $1,375 $16,610 $3,320 $13,290
Source: Public Records

Agents Affiliated with this Home

  • N

    Seller's Agent in 2012

    Nycole Leyba

    Better Homes & Gardens Real Estate SJ Fowler

  • Terry Hess

    Seller's Agent in 2012

    Terry Hess

    Gentry Real Estate

    (480) 695-4163

    1 in this area

    66 Total Sales

    Section Image
  • Greg Patt

    Buyer's Agent in 2012

    Greg Patt

    Greg Patt Real Estate

    (602) 284-0395

    30 Total Sales

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 4770240

Arizona Regional Multiple Listing Service (ARMLS)

APN: 141-08-239

Arizona Maricopa County Mesa 85213 Rancho de Arboleda

2650 E Mckellips Rd Unit 23, Mesa, AZ

This home is located at 2650 E Mckellips Rd Unit 23, Mesa, AZ 85213 since 06 June 2012 and is currently estimated at $780,507, approximately $1,040 per square foot. This property was built in 1985. 2650 E Mckellips Rd Unit 23 is a home located in Maricopa County with nearby schools including Hermosa Vista 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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