NOT LISTED FOR SALE

471 E Montebello Ave Apache Junction, AZ 85119

Estimated Value: $488,000 - $561,000

-- Bed
-- Bath
2,880 Sq Ft
$178/Sq Ft Est. Value

Last Sold March 25, 2019

Last sale price $290,000 $101 Per Sq Ft

Est. 76% increase in value since last sale

Current estimated payment $2,793/month

61 Days on Market

About This Home

As of March 2019

GREAT INVESTMENT: WELL KEPT 4-PLEX IN GREAT CONDITION. FULLY RENTED. ALL UNITS HAVE NEW A/C INSTALLED BETWEEN 2013 TO 2015. TILE THROUGHOUT ALL UNITS. EACH UNIT HAS ITS OWN PRIVATE FENCED YARD AND PRIVATE STORAGE UNIT. LOTS OF PARKING FOR TENANTS. TENANTS PAY ELECTRIC. NOTE: OWNER IS ALSO SELLING 4-PLEX AT (503 E. MONTEBELLO) GREAT OPPORTUNITY FOR BUYER TO GET 8 UNITS. THIS IS A VALUE ADD OPPORTUNITY AS THE RENTS SHOULD BE INCREASES AT LEAST $75 PER UNIT. MOST TENANTS ARE MONTHS TO MONTH SO BUYER COULD DO THIS QUICKLY. **Numbers listed under expenses on MLS are for self managing buyers/owners**

Last Agent to Sell the Property

Jake Allen

Tradelands Realty License #SA569290000 Listed on: 01/07/2019

Last Buyer's Agent

Austin Foley

West USA Realty License #SA660876000

West USA Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,200

Year Built

  • Built in 1984

Lot Details

  • 10,019

Home Design

  • Wood Frame Construction
  • Stucco

Parking

  • 8 Open Parking Spaces
  • 8 Parking Spaces

Utilities

  • Cooling Available
  • Heating Available

Listing and Financial Details

  • Tenant pays for cable TV
  • The owner pays for water
  • Tax Lot 1448
  • Assessor Parcel Number 102-25-049

Community Details

Overview

  • 4 Units
  • Building Dimensions are IRR
  • Palm Springs Unit 14 Subdivision

Building Details

  • Operating Expense $5,900
  • Gross Income $26,976
  • Net Operating Income $17,376

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,200

Year Built

Built in 1984

Lot Details

0

Listing Details

  • Cross Street: IDAHO AND SOUTHERN
  • Legal Info Range: 08E
  • Property Type: Multiple Dwellings
  • Zoning: UNK
  • Number Of Buildings: 1
  • Year Built: 1984
  • Tax Year: 2018
  • Road Surface Type: Asphalt
  • Subdivision Name: PALM SPRINGS UNIT 14
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances Included:Refrigerator: Yes
  • Appliances Included:Dishwasher: Yes
  • Appliances Included:Disposal: Yes
  • Appliances Included:WasherDryer: Yes

Exterior Features

  • Disclosures: Seller Prop Disc Stm
  • Construction Type: Painted, Stucco, Frame - Wood
  • Roof: See Remarks, Rolled/Hot Mop
  • Construction:Frame - Wood: Yes

Garage/Parking

  • 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:_greater_1 Space Per Unit: Yes

Utilities

  • Electric: SRP
  • Cooling: Electric
  • Heating: Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Exterior Amenities:Cable TV Available: Yes
  • Community Amenities:No Pool: Yes

Fee Information

  • Annual Water Sewer Expense: 2000.0

Lot Info

  • Lot Size: IRR
  • Additional Parcels: No
  • Parcel #: 102-25-049

Multi Family

  • Owner Pays: Water
  • Tenant Pays: Cable TV
  • Number Of Units Total: 4
  • Annual Gross Income: 26976.0
  • Insurance Expense: 1200.0
  • Maintenance Expense: 1500.0
  • Property Net Operating Income: 17376.0
  • Annual Operating Expense: 5900.0

Tax Info

  • Tax Annual Amount: 1200.0
  • Tax Book Number: 102.00
  • Tax Lot: 1448

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 7, 2019
Closed on
Mar 12, 2019
Sold by
Tlw Land Holdings Llc
Bought by
Jaz Investment Co Llc
Seller's Agent
Jake Allen
Tradelands Realty
Buyer's Agent
Austin Foley
West USA Realty
List Price
$309,900
Sold Price
$290,000
Premium/Discount to List
-$19,900
-6.42%
Current Estimated Value
$511,338

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$221,338
Avg. Annual Appreciation
8.72%

Purchase Details

Closed on
Feb 4, 2018
Sold by
Wengert Terry E
Bought by
Tlw Land Holdings Llc

Purchase Details

Closed on
Jan 19, 2017
Sold by
Davis Ronald G and Davis Louis J
Bought by
Wegert Terry E

Purchase Details

Closed on
Dec 6, 2010
Sold by
Casa Bella Properties Llc
Bought by
Davis Ronald G and Davis Lois J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$68,625
Interest Rate
4.18%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jun 21, 2010
Sold by
Jerome David H
Bought by
Casa Bella Properties

Purchase Details

Closed on
Jan 3, 2006
Sold by
Jerome David H
Bought by
Spin Off Properties Llc

Purchase Details

Closed on
Dec 8, 2005
Sold by
Jerome Elizabeth A
Bought by
Jerome David H

Purchase Details

Closed on
Jul 29, 2005
Sold by
Jerome David H and Jerome Elizabeth A
Bought by
Spin Off Properties Llc

Purchase Details

Closed on
Jun 10, 2004
Sold by
Mls Property Iii Llc
Bought by
Jerome David H and Jerome Elizabeth A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$154,250
Interest Rate
7.25%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jan 15, 2004
Sold by
Smith Michael L
Bought by
Mls Property Iii Llc

Purchase Details

Closed on
Mar 13, 2003
Sold by
Corriveau Norman H
Bought by
Smith Michael L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$135,000
Interest Rate
5.79%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Mar 17, 1998
Sold by
Corriveau Norman H
Bought by
Norman H Corriveau Living Trust

Purchase Details

Closed on
Mar 13, 1997
Sold by
Waite Robert S and Waite Cindi I
Bought by
Corriveau Norman H
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Jaz Investment Co Llc $290,000 Great American Ttl Agcy Inc
Tlw Land Holdings Llc -- None Available
Wegert Terry E $205,000 Empire West Title Agency
Davis Ronald G $91,500 Security Title Agency
Casa Bella Properties $70,600 Fidelity National Title
Spin Off Properties Llc -- None Available
Jerome David H -- First American Title Insuran
Jerome David H -- First American Title Insuran
Spin Off Properties Llc -- First American Title Insuran
Jerome David H $205,700 First American Title Insuran
Mls Property Iii Llc -- Ticor Title Agency Az Inc
Smith Michael L $160,000 American Title Ins Agency Az
Norman H Corriveau Living Trust -- --
Norman H Corriveau Living Trust -- --
Corriveau Norman H $65,000 Fidelity National Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Davis Ronald G $68,625
Previous Owner Jerome David H $154,250
Previous Owner Smith Michael L $135,000
Closed Jerome David H $30,800
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/25/2019 03/25/19 Sold $290,000 -3.3% $101 / Sq Ft
03/09/2019 03/09/19 Pending -- -- --
01/17/2019 01/17/19 Price Changed $299,900 -3.2% $104 / Sq Ft
01/07/2019 01/07/19 For Sale $309,900 -- $108 / 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 $1,363 $21,987 -- --
2024 $1,286 $22,773 -- --
2023 $1,342 $15,296 $5,014 $10,282
2022 $1,286 $19,905 $5,014 $14,891
2021 $1,310 $18,940 $0 $0
2020 $1,277 $13,687 $0 $0
2019 $1,225 $17,745 $0 $0
2018 $1,200 $8,429 $0 $0
2017 $1,168 $8,535 $0 $0
2016 $1,139 $8,509 $1,100 $7,409
2014 $963 $6,311 $1,100 $5,211
Source: Public Records

Agents Affiliated with this Home

  • J

    Seller's Agent in 2019

    Jake Allen

    Tradelands Realty

    (480) 610-6833

    41 Total Sales

    Jake Allen
    Section Image

  • A

    Buyer's Agent in 2019

    Austin Foley

    West USA Realty

    (480) 336-2900

    20 Total Sales

    Austin Foley
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5864353

Arizona Regional Multiple Listing Service (ARMLS)

APN: 102-25-049

Arizona Pinal County Apache Junction 85119

471 E Montebello 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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