$850,000
SOLD MAY 25, 2022
-- Bed
-- Bath
3,828 Sq Ft
1985 Built

Recently Sold

$222 Per Sq Ft

3% Above List Price

10 Days on Market

Highlights

  • Wood Flooring
  • Cooling Available
  • Heat Pump System
  • Franklin at Brimhall Elementary School Rated A
  • Ceiling Fan

About This Home

As of August 2023

Great Investment! These units are All 2 Bed & 2 Baths with inside laundry and the Largest Floor Plans On Cicero! Rents are close to current Market Rents At: #101: $1300; #102: $1300; #201: $975; #202: $1025. Unit #201 & #202 are longer term tenants with Potential for an Extra $600 in Cash Flow per Month. Unit #101 & #102 are New Leases & #201 & #202 are Currently Month to Month! Newer water heaters in the last few years; (1) New AC unit installed in 2021! All units have a mixture of Tile & Wood Laminate or Tile and Carpet. The Roof is All Tile. The building also has Covered Parking! Washers and Dryers are inside each Unit and are included with the building. The Exterior of the Building was Recently Painted. Great Curb Appeal! Several pictures of all (4) units! Please Do NOT Disturb Tenants

Last Agent to Sell the Property

Bruce Duckett

Duckett Management & Real Estate License #BR537621000 Listed on: 04/11/2022

Last Buyer's Agent

Marcus Lever

Denali Real Estate, LLC License #SA693477000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,303

Year Built

  • Built in 1985

Home Design

  • Wood Frame Construction
  • Tile Roof
  • Stucco

Interior Spaces

  • Ceiling Fan

Flooring

  • Wood
  • Carpet
  • Ceramic Tile
  • Vinyl

Parking

  • 3 Open Parking Spaces
  • 7 Parking Spaces
  • Carport
  • Paved Parking
  • On-Street Parking

Utilities

  • Cooling Available
  • Heat Pump System
  • Master Water Meter

Listing and Financial Details

  • The owner pays for trash collection, water, sewer, landscaping
  • Tax Lot 4
  • Assessor Parcel Number 140-11-365

Community Details

Overview

  • 4 Units
  • Building Dimensions are 7999
  • University Villa East Subdivision

Building Details

  • Operating Expense $14,911
  • Gross Income $55,200
  • Net Operating Income $40,289

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,303

Year Built

Built in 1985

Lot Details

0

Listing Details

  • Cross Street: University & Val Vista
  • Legal Info Range: 6E
  • Property Type: Multiple Dwellings
  • Zoning: RM-3
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1985
  • Tax Year: 2021
  • Directions: West to Los Alamos; North to Cicero; West to 2956 Cicero on the North Side of the Street
  • Road Surface Type: Asphalt, Dedicated Street, Curb(s) & Gutter(s), Sidewalk(s)
  • Professional Management Expense: 3560.0
  • Subdivision Name: UNIVERSITY VILLA EAST
  • Cooling:Ceiling Fan(s): Yes
  • Construction:Wood Frame: Yes
  • Water Source City Franchise2: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Carpet, Ceramic Tile, Vinyl, Wood
  • Appliances: Free-Standing Range, Disposal, Dishwasher, Refrigerator, Microwave, Washer/Dryer, W/D Hookup
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Microwave2: Yes
  • Appliances Included:WasherDryer: Yes
  • Appliances Included:WD Hookup: Yes
  • Appliances Included:Refrigerator2: Yes
  • Appliances Included:Dishwasher2: Yes
  • Appliances Included:Disposal2: Yes

Exterior Features

  • Disclosures: Seller Prop Disc Stm
  • Construction Type: Wood Frame, Painted, Stucco
  • Roof: Tile

Garage/Parking

  • Total Covered Spaces: 4.0
  • Parking Features: Paved, <1 Space Per Unit, On Street, Carport
  • Attached Garage: No
  • Open Parking Spaces: 3.0
  • Total Parking Spaces: 7.0
  • General Property Description:Covered Parking Spcs: 4.0
  • General Property Description:Uncvrd Parking Spcs: 3.0
  • General Property Description:Total Parking Spcs: 7.0
  • Parking Features:Carport: Yes
  • Parking Features:Paved2: Yes
  • Parking Features Street Parking: Yes

Utilities

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

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Exterior Amenities:Cable TV Available: Yes
  • Exterior Amenities:Security Light(s)3: Yes
  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Interior Amenities:Mini Blinds: Yes
  • Exterior Amenities:Desert Landscaping: Yes
  • Exterior Amenities:Separate Storage: Yes
  • Interior Amenities:Unfurnished: Yes

Fee Information

  • Annual Water Sewer Expense: 3600.0

Schools

  • Junior High Dist: Mesa Unified District

Lot Info

  • Lot Size: 7999
  • Additional Parcels: No
  • Parcel #: 140-11-365

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Number Of Units Total: 4
  • Annual Gross Income: 55200.0
  • Insurance Expense: 1700.0
  • Maintenance Expense: 2403.0
  • Property Net Operating Income: 40289.0
  • Annual Operating Expense: 14911.0

Tax Info

  • Tax Annual Amount: 2303.0
  • Tax Book Number: 140.00
  • Tax Lot: 4

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 8, 2023
Closed on
Aug 31, 2023
Sold by
2956 E Cicero Llc
Bought by
Muniz Jayme and Hilario Edwin
Seller's Agent
Brook Steed
Blanzy Realty LLC
Buyer's Agent
Melanie Paramore
My Home Group Real Estate
List Price
$879,000
Sold Price
$780,000
Premium/Discount to List
-$99,000
-11.26%
Views
38
Current Estimated Value
$812,362

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$32,362
Avg. Annual Appreciation
1.42%
Original Mortgage
$530,400
Outstanding Balance
$521,321
Interest Rate
6.78%
Mortgage Type
New Conventional
Estimated Equity
$279,587

Purchase Details

Listed on
Apr 11, 2022
Closed on
Jul 8, 2022
Sold by
Bean Family Trust
Bought by
2956 E Cicero Llc
Seller's Agent
Bruce Duckett
Duckett Management & Real Estate
Buyer's Agent
Marcus Lever
Denali Real Estate, LLC
List Price
$825,000
Sold Price
$850,000
Premium/Discount to List
$25,000
3.03%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-6.54%

Purchase Details

Listed on
Apr 11, 2022
Closed on
Apr 21, 2022
Sold by
R & G Ii Llc
Bought by
Bean Family Trust
Seller's Agent
Bruce Duckett
Duckett Management & Real Estate
Buyer's Agent
Marcus Lever
Denali Real Estate, LLC
List Price
$825,000
Sold Price
$850,000
Premium/Discount to List
$25,000
3.03%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$614,250
Interest Rate
5.11%
Mortgage Type
FHA

Purchase Details

Closed on
Nov 1, 2006
Sold by
Theriault Regis and Theriault Ginette
Bought by
R & G Ii Llc

Purchase Details

Closed on
Jan 20, 2005
Sold by
B N P I Partnership
Bought by
Theriault Regis and Theriault Ginette

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$212,000
Interest Rate
2.12%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 22, 2004
Sold by
Bjork Walter M
Bought by
B N P I Partnership

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$212,000
Interest Rate
2.12%
Mortgage Type
New Conventional
Source: Public Records

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 Type Sale Price Title Company
Warranty Deed $780,000 Clear Title Agency Of Arizona
Special Warranty Deed -- New Title Company Name
Warranty Deed $850,000 Clear Title
Special Warranty Deed -- None Available
Warranty Deed $265,000 Grand Canyon Title Agency In
Quit Claim Deed -- Grand Canyon Title Agency
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $530,400 New Conventional
Previous Owner $614,250 FHA
Previous Owner $212,000 New Conventional
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/31/2023 08/31/23 Sold $780,000 -11.3% $204 / Sq Ft
08/15/2023 08/15/23 Price Changed $879,000 0.0% $230 / Sq Ft
07/13/2023 07/13/23 Pending -- -- --
06/22/2023 06/22/23 For Sale $879,000 +3.4% $230 / Sq Ft
05/25/2022 05/25/22 Sold $850,000 +3.0% $222 / Sq Ft
04/11/2022 04/11/22 For Sale $825,000 -- $216 / 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 $2,305 $23,479 -- --
2024 $2,324 $22,361 -- --
2023 $2,324 $61,230 $12,240 $48,990
2022 $2,275 $46,270 $9,250 $37,020
2021 $2,303 $37,350 $7,470 $29,880
2020 $2,273 $35,120 $7,020 $28,100
2019 $2,124 $25,800 $5,160 $20,640
2018 $2,039 $23,400 $4,680 $18,720
2017 $1,978 $20,620 $4,120 $16,500
2016 $1,941 $20,880 $4,170 $16,710
2015 $1,824 $19,580 $3,910 $15,670
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6383283

Arizona Regional Multiple Listing Service (ARMLS)

APN: 140-11-365