NOT LISTED FOR SALE

2964 E Cicero St Mesa, AZ 85213

The Groves Neighborhood

Estimated Value: $788,000 - $925,000

8 Beds
-- Bath
3,828 Sq Ft
$217/Sq Ft Est. Value

Last Sold February 28, 2022

Last sale price $790,000 $206 Per Sq Ft

Est. 5% increase in value since last sale

Current estimated payment $4,546/month

5 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 February 2022

This 4 Plex is a Great Investment! These Units Are All 2 Bed / 2 Baths with Inside Laundry and Largest Floor Plans! Rents are Close to Market Rents at $925; $1,000; $1,000 & $1100 for Each Unit with Room to Increase. All Rental Agreements are Currently Month to Month! Newer Water Heater in the Last 2 Years; (3) New AC Units Installed in 2020 & 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 the Units and Included with the Building. Great Paying Longer Term Tenants in This Building. Please Do NOT Disturb Tenants! Exterior of the Building is Scheduled to Be Painted in the Next Two Weeks! Turn Key Investment with Continued Upside in Rents! No Better Value in the East Valle

Last Agent to Sell the Property

Bruce Duckett

Duckett Management & Real Estate License #BR537621000 Listed on: 01/19/2022

Last Buyer's Agent

Bruce Duckett

Duckett Management & Real Estate License #BR537621000 Listed on: 01/19/2022

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,303

Year Built

  • Built in 1985

Lot Details

  • 8,015

Home Design

  • Wood Frame Construction
  • Tile Roof
  • Stucco

Interior Spaces

  • Ceiling Fan

Flooring

  • Wood
  • Carpet
  • Ceramic Tile

Parking

  • 8 Parking Spaces
  • Carport
  • Over 1 Space Per Unit
  • Paved Parking
  • On-Street Parking

Utilities

  • Cooling Available
  • Heat Pump System

Listing and Financial Details

  • The owner pays for trash collection, water, sewer, landscaping
  • Tax Lot 3
  • Assessor Parcel Number 140-11-364

Community Details

Overview

  • 4 Units
  • Building Dimensions are 7993 Sq Ft
  • University Villa East Subdivision

Building Details

  • Operating Expense $14,068
  • Gross Income $48,300
  • Net Operating Income $36,535

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: RM3
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1985
  • Tax Year: 2021
  • Road Surface Type: Asphalt, Dedicated Street, Curb(s) & Gutter(s), Sidewalk(s)
  • Professional Management Expense: 3865.0
  • 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, 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: 4.0
  • Total Parking Spaces: 8.0
  • General Property Description:Covered Parking Spcs: 4.0
  • General Property Description:Uncvrd Parking Spcs: 4.0
  • General Property Description:Total Parking Spcs: 8.0
  • Parking Features:Carport: Yes
  • Parking Features >1 Space Per Unit: Yes
  • Parking Features:Paved2: Yes
  • Parking Features Street Parking: Yes

Utilities

  • Electric: SRP
  • Cooling: Ceiling Fan(s), Electric, Heat Pump
  • 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:Cable TV Available: 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
  • Interior Amenities:Vertical Blinds2: Yes

Fee Information

  • Annual Water Sewer Expense: 3900.0

Schools

  • Junior High Dist: Mesa Unified District

Lot Info

  • Lot Size: 7993 Sq Ft
  • Additional Parcels: No
  • Parcel #: 140-11-364

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Number Of Units Total: 4
  • Annual Gross Income: 48300.0
  • Insurance Expense: 1600.0
  • Maintenance Expense: 1200.0
  • Property Net Operating Income: 36535.0
  • Annual Operating Expense: 14068.0

Tax Info

  • Tax Annual Amount: 2303.0
  • Tax Book Number: 140.00
  • Tax Lot: 3

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 19, 2022
Closed on
Jan 25, 2022
Sold by
R & G Iii Llc
Bought by
Adornato-Deir Revocable Trust and Adornato
Seller's Agent
Bruce Duckett
Duckett Management & Real Estate
Buyer's Agent
Bruce Duckett
Duckett Management & Real Estate
List Price
$750,000
Sold Price
$790,000
Premium/Discount to List
$40,000
5.33%
Current Estimated Value
$832,568

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$42,568
Avg. Annual Appreciation
1.37%
Original Mortgage
$545,000
Outstanding Balance
$504,609
Interest Rate
3.92%
Mortgage Type
New Conventional
Estimated Equity
$327,959

Purchase Details

Closed on
Dec 12, 2006
Sold by
Theriault Regis and Theriault Ginette
Bought by
R & G Iii Llc

Purchase Details

Closed on
Jan 24, 2005
Sold by
Nuernberg Fred E
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

Purchase Details

Closed on
Jan 21, 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
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

Date Buyer Sale Price Title Company
Adornato-Deir Revocable Trust $790,000 Clear Title
R & G Iii Llc -- None Available
B N P I Partnership -- Grand Canyon Title Agency In
Theriault Regis $265,000 Grand Canyon Title Agency In
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Adornato-Deir Revocable Trust $545,000
Previous Owner Theriault Regis $212,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
02/28/2022 02/28/22 Sold $790,000 +5.3% $206 / Sq Ft
01/19/2022 01/19/22 For Sale $750,000 -- $196 / 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 $2,316 $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 $35,110 $7,020 $28,090
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

  • Bruce Duckett

    Seller's Agent in 2022

    Bruce Duckett

    Duckett Management & Real Estate

    (602) 578-7199

    2 in this area

    7 Total Sales

    Bruce Duckett
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6343744

Arizona Regional Multiple Listing Service (ARMLS)

APN: 140-11-364

Arizona Maricopa County Mesa 85213 The Groves

2964 E Cicero St, 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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