NOT LISTED FOR SALE
17 Beds
-- Bath
2,500 Sq Ft
1963 Built

Sale Details

Date Sold: December 11, 2020

Last sale price $1,375,000 $550 Per Sq Ft

14 Days on Market

Highlights

  • Cooling Available
  • Ceramic Tile Flooring
  • Heating Available
  • Franklin at Brimhall Elementary School Rated A

About This Home

As of December 2020

Owner/Agent managed (11) UNITS, 2 buildings in Mesa. Both buildings have newer roofs, NEW steps on stairs, ALL of the units get updated during tenant turnovers. A few of the AC units have been replaced past 12 months, the rest of the units are maintained every summer, tenants filters get changed 3-4 times per year by us. Building consists of: (5) 1BR/ 1BA (4) 2 BR/1BA and (2) 2BR/2BA 2 large units. TOTAL: 11 units that you can turn into a 13 unit as it used to be, See Documents Tabs for VALUE ADD suggestions and expenses, make up to 25k more yearly in additional income on this building! Documents tab also has one years worth of electric and utility bills to show the expenses are low in here! For the serious buyer we have monthly P&L. less than 5 miles to EVIT, Light Rail, US-60 FRWY.

Last Agent to Sell the Property

Ephrem Jando

Real Broker License #BR552736000 Listed on: 11/09/2020

Real Broker

Last Buyer's Agent

Chad Schreiner

RMA-Mountain Properties License #SA678100000

RMA-Mountain Properties

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,048

Year Built

  • Built in 1963

Home Design

  • Composition Roof
  • Block Exterior

Flooring

  • Carpet
  • Concrete
  • Ceramic Tile

Parking

  • 7 Open Parking Spaces
  • 11 Parking Spaces
  • 4 Covered Spaces
  • Free Parking
  • Paved Parking
  • On-Street Parking
  • Assigned Parking

Lot Details

  • Additional Parcels

Utilities

  • Cooling Available
  • Heating Available
  • Separate Meters
  • Master Meter
  • Master Water Meter

Listing and Financial Details

  • The owner pays for gas, electricity, trash collection, water, sewer
  • Tax Lot 4
  • Assessor Parcel Number 137-37-004-A

Community Details

Overview

  • 2 Buildings
  • 11 Units
  • Building Dimensions are 115x80
  • Ko Ko Palms Subdivision

Building Details

  • Operating Expense $20,028
  • Gross Income $114,366
  • Net Operating Income $94,338

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,048

Year Built

Built in 1963

Listing Details

  • Cross Street: Gilbert and University
  • Legal Info Range: 5E
  • Property Type: Multiple Dwellings
  • Zoning: RM-3
  • Number Of Buildings: 2
  • Ownership: Fee Simple
  • Year Built: 1963
  • Tax Year: 2020
  • Road Surface Type: Gravel, Dedicated Street, Private Street, Sidewalk(s)
  • Subdivision Name: KO KO PALMS
  • Tax Parcel Letter: A
  • Roofing:Composition: Yes
  • Water Source City Franchise2: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Carpet, Ceramic Tile, Concrete
  • Appliances: Other, Refrigerator, W/D Hookup
  • Appliances Included:WD Hookup: Yes
  • Appliances Included:Other (See Remarks)56: Yes
  • Appliances Included:Refrigerator2: Yes

Exterior Features

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

Garage/Parking

  • Total Covered Spaces: 4.0
  • Parking Features: Paved, Free, Assigned, Add'l Parking Avail, On Street
  • Attached Garage: No
  • Open Parking Spaces: 7.0
  • Total Parking Spaces: 11.0
  • General Property Description:Covered Parking Spcs: 4.0
  • General Property Description:Uncvrd Parking Spcs: 7.0
  • General Property Description:Total Parking Spcs: 11.0
  • Parking Features Free2: Yes
  • Parking Features:Assigned: Yes
  • Parking Features:Paved2: Yes
  • Parking Features Street Parking: Yes

Utilities

  • Electric: SRP, Master Meter, Individual Meter
  • Cooling: Electric
  • Heating: Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: Master Meter, City Franchise
  • Heating:Electric: Yes
  • Electric Master Meter: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Exterior Amenities:Desert Landscaping: Yes
  • Interior Amenities:Unfurnished: Yes
  • Interior Amenities:Vertical Blinds2: Yes

Fee Information

  • Trash Expense: 2000.0
  • Annual Water Sewer Expense: 7000.0

Schools

  • Junior High Dist: Mesa Unified District

Lot Info

  • Lot Size: 115x80
  • Additional Parcels: Yes
  • Parcel #: 137-37-004-A

Multi Family

  • Owner Pays: See Remarks, Gas, Electricity, Trash Collection, Water, Sewer
  • Number Of Units Total: 11
  • Electric Expense: 5500.0
  • Annual Gross Income: 114366.0
  • Insurance Expense: 3000.0
  • Property Net Operating Income: 94338.0
  • Annual Operating Expense: 20028.0
  • Vacancy Allowance Rate: 0.02

Tax Info

  • Tax Annual Amount: 2048.0
  • Tax Book Number: 137.00
  • Tax Lot: 4

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
Nov 9, 2020
Closed on
Dec 10, 2020
Sold by
Bought by
Seller's Agent
Ephrem Jando
Real Broker
Buyer's Agent
Chad Schreiner
RMA-Mountain Properties
List Price
$1,397,000
Sold Price
$1,375,000
Premium/Discount to List
-$22,000
-1.57%

Purchase Details

Listed on
Nov 9, 2020
Closed on
Dec 8, 2020
Sold by
Bought by
Seller's Agent
Ephrem Jando
Real Broker
Buyer's Agent
Chad Schreiner
RMA-Mountain Properties
List Price
$1,397,000
Sold Price
$1,375,000
Premium/Discount to List
-$22,000
-1.57%

Purchase Details

Listed on
Mar 24, 2018
Closed on
May 3, 2018
Sold by
Bought by
Seller's Agent
Ephrem Jando
Real Broker
Buyer's Agent
Ephrem Jando
Real Broker
List Price
$815,000
Sold Price
$762,500
Premium/Discount to List
-$52,500
-6.44%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
25.56%
Original Mortgage
$522,500
Interest Rate
0.0444%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
May 1, 2015
Sold by
Bought by

Purchase Details

Closed on
Oct 9, 2013
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
$310,000
Interest Rate
0.0453%
Mortgage Type
Commercial

Purchase Details

Closed on
Nov 5, 2010
Sold by
Bought by

Purchase Details

Closed on
Feb 20, 2008
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
$220,000
Interest Rate
0.0541%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Nov 7, 2007
Sold by
Bought by

Purchase Details

Closed on
Jul 20, 2007
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
$526,000
Interest Rate
0.0673%
Mortgage Type
Commercial

Purchase Details

Closed on
Aug 15, 2006
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
$403,597
Interest Rate
0.0676%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Nov 30, 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
$1,532,000
Interest Rate
0.0607%
Mortgage Type
Commercial

Purchase Details

Closed on
Nov 28, 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
$1,532,000
Interest Rate
0.0607%
Mortgage Type
Commercial
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
-- None Available
$1,375,000 Title Alliance Platinum Agcy
$762,500 Empire West Title Agency Llc
$474,000 Clear Title Agency
$405,000 Magnus Title Agency
$110,000 Magnus Title Agency
$370,000 Capital Title Agency Inc
$225,000 Capital Title Agency Inc
$225,000 Capital Title Agency Inc
$850,000 Capital Title Agency Inc
$403,597 Tsa Title Agency
$1,000,000 Capital Title Agency Inc
$390,000 Capital Title Agency Inc
$425,000 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
Previous Owner $522,500
Previous Owner $310,000
Previous Owner $220,000
Previous Owner $526,000
Previous Owner $403,597
Previous Owner $1,532,000
Previous Owner $318,750
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 Prior Sale
12/11/2020 12/11/20 Sold $1,375,000 -1.6% $550 / Sq Ft
11/07/2020 11/07/20 For Sale $1,397,000 +83.2% $559 / Sq Ft
05/10/2018 05/10/18 Sold $762,500 -6.4% $305 / Sq Ft View Prior Sale
05/09/2018 05/09/18 Price Changed $815,000 0.0% $326 / Sq Ft
05/02/2018 05/02/18 Price Changed $815,000 0.0% $326 / Sq Ft
04/04/2018 04/04/18 Pending -- -- --
04/02/2018 04/02/18 Pending -- -- --
03/20/2018 03/20/18 For Sale $815,000 -- $326 / 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 $2,087 $21,157
2024 $2,094 $20,150
2023 $2,094 $115,200 $23,040 $92,160
2022 $2,050 $86,020 $17,200 $68,820
2021 $2,075 $68,530 $13,700 $54,830
2020 $2,048 $61,230 $12,240 $48,990
2019 $1,914 $42,510 $8,500 $34,010
2018 $1,837 $37,750 $7,550 $30,200
2017 $1,782 $32,710 $6,540 $26,170
2016 $1,749 $30,620 $6,120 $24,500
2015 $1,644 $25,130 $5,020 $20,110
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6157836

Arizona Regional Multiple Listing Service (ARMLS)
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