NOT LISTED FOR SALE

461 W 16th Ave Apache Junction, AZ 85120

Estimated Value: $493,563 - $739,000

-- Bed
-- Bath
2,832 Sq Ft
$205/Sq Ft Est. Value

Last Sold August 19, 2019

Last sale price $315,000 $111 Per Sq Ft

Est. 85% increase in value since last sale

Current estimated payment $3,154/month

12 Days on Market

About This Home

As of August 2019

Come and see your next 4-plex investment! Almost at an 8% cap rate. All units rented but some month-month contracts leave option for primary residence buyer. Under professional property management. Easy to rent. Three newer AC units. All solid surface flooring throughout for low maintenance. Washer/dryer hookups. ALL utilities (electric, water, and trash) in tenants' individual names. No worrying about a leaky toilet and an unexpectedly high water bill! No HOA. One tenant since 2012 has low lease rate of only $615 plus tax. Newest two tenants are at $715 plus tax. Drive by only; showing with accepted offer. Buyer to verify all facts and figures.

Last Agent to Sell the Property

Kathryn Jones

Evolve Realty, LLC Brokerage Email: info@evolverealty.com License #SA540336000 Listed on: 07/17/2019

Last Buyer's Agent

Gina McKinley

Realty ONE Group License #BR510435000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,236

Year Built

  • Built in 1982

Lot Details

  • 9,104

Home Design

  • Wood Frame Construction
  • Composition Roof
  • Siding

Flooring

  • Ceramic Tile
  • Vinyl

Parking

  • 8 Open Parking Spaces
  • 8 Parking Spaces

Schools

  • Cactus Canyon Junior High
  • Apache Junction High School

Utilities

  • Central Heating and Cooling System
  • Septic Tank

Listing and Financial Details

  • Tenant pays for trash collection, electricity, water
  • Tax Lot 6
  • Assessor Parcel Number 102-22-006

Community Details

Overview

  • 4 Units
  • Building Dimensions are 75x121.27
  • Superstition Villa Subdivision

Building Details

  • Operating Expense $8,279
  • Gross Income $32,583
  • Net Operating Income $26,340

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,236

Year Built

Built in 1982

Lot Details

0

Listing Details

  • Cross Street: Idaho Rd. & 16th Ave
  • Legal Info Range: 08E
  • Property Type: Multiple Dwellings
  • Zoning: Multi-Family
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1982
  • Tax Year: 2018
  • Road Surface Type: Asphalt
  • Subdivision Name: SUPERSTITION VILLA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Ceramic Tile, Vinyl
  • Appliances: BI Oven/Range, W/D Hookup
  • Appliances Included:WD Hookup: Yes
  • Appliances Included:BI OvenRange: Yes
  • Appliances Included:Refrigerator2: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Siding, Painted, Frame - Wood
  • Roof: Composition
  • Construction:Frame - Wood: Yes

Garage/Parking

  • Parking Features: <1 Space Per Unit
  • Attached Garage: No
  • Open Parking Spaces: 8.0
  • Total Parking Spaces: 8.0
  • General Property Description:Uncvrd Parking Spcs: 8.0
  • General Property Description:Total Parking Spcs: 8.0
  • Parking:_less_1 Space Per Unit: Yes

Utilities

  • Electric: SRP, Individual Meter
  • Cooling: Electric, Central A/C
  • Heating: Central, Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: Individual Meter
  • Heating:Electric: Yes
  • Sewer Septic Tank: Yes
  • Heating:Central: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Community Amenities:No Pool: Yes

Schools

  • High School: Apache Junction High School
  • Junior High Dist: Apache Junction Unified District
  • Middle Or Junior School: Cactus Canyon Junior High

Lot Info

  • Lot Size: 75x121.27
  • Additional Parcels: No
  • Parcel #: 102-22-006

Multi Family

  • Owner Pays: None
  • Tenant Pays: Trash Collection, Electricity, Water
  • Number Of Units Total: 4
  • Annual Gross Income: 32583.0
  • Insurance Expense: 800.0
  • Property Net Operating Income: 26340.0
  • Annual Operating Expense: 8279.0

Tax Info

  • Tax Annual Amount: 1236.0
  • Tax Book Number: 102.00
  • Tax Lot: 6

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 17, 2019
Closed on
Aug 12, 2019
Sold by
Jones Chanson and Jones Kalena Sanchez
Bought by
Mesa Houses Llc
Seller's Agent
Kathryn Jones
Evolve Realty, LLC
Buyer's Agent
Gina McKinley
Realty ONE Group
List Price
$335,000
Sold Price
$315,000
Premium/Discount to List
-$20,000
-5.97%
Current Estimated Value
$581,391

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$266,391
Avg. Annual Appreciation
10.08%

Purchase Details

Closed on
Feb 26, 2015
Sold by
Jones Chanson and Jones Harley A
Bought by
Jones Chanson and Sanchez Kalena

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$94,250
Interest Rate
3.6%
Mortgage Type
New Conventional

Purchase Details

Listed on
Sep 11, 2014
Closed on
Sep 19, 2014
Sold by
Mendes Lance M and Mendes Michelle D
Bought by
Jones Chanson and Jones Harley
Seller's Agent
Shannon Exley
AJ Legends Realty, LLC
Buyer's Agent
Chanson Jones
Berkshire Hathaway HomeServices Arizona Properties
List Price
$163,500
Sold Price
$145,000
Premium/Discount to List
-$18,500
-11.31%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
13.14%

Purchase Details

Closed on
Mar 13, 2012
Sold by
Mendes Lance M and Mendes Michelle D
Bought by
L & M 461 Llc

Purchase Details

Closed on
Feb 27, 2004
Sold by
Kandas Wayne and Corens Paul
Bought by
Mendes Lance M and Mendes Michelle D

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$120,900
Interest Rate
5%
Mortgage Type
Unknown

Purchase Details

Closed on
Apr 2, 2002
Sold by
Engelby Terry D
Bought by
Kandas Wayne and Corens Paul

Purchase Details

Closed on
Mar 19, 2002
Sold by
Corens Kimberly
Bought by
Corens Paul

Purchase Details

Closed on
Jan 5, 1999
Sold by
The Five Ps Investment Co
Bought by
Engelby Terry D
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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 Buyer Sale Price Title Company
Mesa Houses Llc $315,000 Lawyers Title Of Arizona Inc
Jones Chanson -- Nextitle
Jones Chanson $145,000 First American Title Ins Co
L & M 461 Llc -- None Available
Mendes Lance M $186,000 Chicago Title Insurance Co
Kandas Wayne $166,000 Fidelity National Title Agen
Corens Paul -- Fidelity National Title Agen
Kandas Wayne -- Fidelity National Title Agen
Engelby Terry D -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Jones Chanson $94,250
Previous Owner Mendes Lance M $120,900
Closed Mendes Lance M $46,450
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
08/19/2019 08/19/19 Sold $315,000 -6.0% $111 / Sq Ft
07/17/2019 07/17/19 For Sale $335,000 +131.0% $118 / Sq Ft
10/07/2014 10/07/14 Sold $145,000 -11.3% $51 / Sq Ft View Prior Sale
09/12/2014 09/12/14 Pending -- -- --
09/01/2014 09/01/14 For Sale $163,500 -- $58 / 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 $1,405 $19,704 -- --
2024 $1,326 $19,755 -- --
2023 $1,383 $14,036 $0 $0
2022 $1,326 $20,114 $5,454 $14,660
2021 $1,350 $19,155 $0 $0
2020 $1,316 $15,929 $0 $0
2019 $1,262 $15,337 $0 $0
2018 $1,236 $7,904 $0 $0
2017 $1,233 $7,710 $0 $0
2016 $1,222 $7,726 $1,100 $6,626
2014 -- $7,180 $1,100 $6,080
Source: Public Records

Agents Affiliated with this Home

  • K

    Seller's Agent in 2019

    Kathryn Jones

    Evolve Realty, LLC

  • Gina McKinley

    Buyer's Agent in 2019

    Gina McKinley

    Realty One Group

    (480) 355-8645

    1 in this area

    74 Total Sales

    Gina McKinley
    Section Image

  • S

    Seller's Agent in 2014

    Shannon Exley

    AJ Legends Realty, LLC

  • C

    Buyer's Agent in 2014

    Chanson Jones

    Berkshire Hathaway HomeServices Arizona Properties

See All Agents

Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5954547

Arizona Regional Multiple Listing Service (ARMLS)

APN: 102-22-006

Arizona Pinal County Apache Junction 85120

461 W 16th Ave, Apache Junction, 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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