NOT LISTED FOR SALE

5233 E University Dr Unit J Mesa, AZ 85205

Central Mesa East Neighborhood
16 Beds
12 Baths
1,500 Sq Ft
1966 Built

Last Sold April 24, 2019

Last sale price $1,275,000 $850 Per Sq Ft

90 Days on Market

Highlights

  • Cooling Available
  • Community Barbecue Grill
  • Heat Pump System
  • Franklin at Brimhall Elementary School Rated A
  • Ceramic Tile Flooring

About This Home

As of April 2019

Part of Dreamland Villas, this 12 unit offering provides a mix of spacious 1-bedroom and 2-bedroom rental units in a low density setting with large front and rear entries and covered porches. Each rental unit is individually metered for electricity with new service panels and has its own reserved covered parking space. Nine units have been tastefully updated to include new flooring, re-textured walls and ceilings, new counters, GFCI outlets, tiled shower surrounds and tiled kitchen back splashes, premium appliance packages, and upgraded lighting & plumbing fixtures. While rents are higher for the updated units, several are STILL well below market. Three 1-bedroom units remain period correct. Beautifully remodeled property offering Turnkey operation with easy upside in rents.

Last Listed By

Scott Trevey

REI Marketing License #SA539099000 Listed on: 01/04/2019

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,570

Year Built

  • Built in 1966

Lot Details

  • Additional Parcels

Home Design

  • Brick Exterior Construction
  • Composition Roof
  • Block Exterior

Flooring

  • Concrete
  • Ceramic Tile
  • Vinyl

Parking

  • 4 Open Parking Spaces
  • 16 Parking Spaces
  • 12 Covered Spaces
  • Common or Shared Parking
  • On-Street Parking

Utilities

  • Cooling Available
  • Heat Pump System
  • Septic Tank

Listing and Financial Details

  • Tenant pays for electricity, cable TV
  • The owner pays for trash collection, water, sewer, landscaping
  • Tax Lot 141
  • Assessor Parcel Number 141-75-096-P

Community Details

Overview

  • 2 Buildings
  • 12 Units
  • Building Dimensions are irreg
  • Dreamland Villa 4 Subdivision

Amenities

  • Community Barbecue Grill

Building Details

  • Operating Expense $18,250
  • Gross Income $108,813
  • Net Operating Income $91,168

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,570

Year Built

Built in 1966

Lot Details

0

Listing Details

  • Cross Street: University and Higley
  • Legal Info Range: 6E
  • Property Type: Multiple Dwellings
  • Zoning: C-C
  • Number Of Buildings: 2
  • Ownership: Fee Simple
  • Year Built: 1966
  • Tax Year: 2018
  • Directions: 202 East to Higley, south to University- through light and immediate left
  • Road Surface Type: Asphalt, Private Street
  • Co List Office Mls Id: klcg01
  • Co List Office Phone: 602-445-4141
  • Subdivision Name: DREAMLAND VILLA 4
  • Tax Parcel Letter: P
  • Construction Brick: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Ceramic Tile, Vinyl, Concrete
  • Appliances: F/S Oven/Range, Microwave
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Microwave2: Yes
  • Appliances Included:Refrigerator2: Yes
  • Appliances Included:Dishwasher2: Yes
  • Appliances Included:Disposal2: Yes

Exterior Features

  • Disclosures: Seller Prop Disc Stm
  • Construction Type: Painted, Block, Brick
  • Roof: Composition
  • Construction:Block: Yes

Garage/Parking

  • Total Covered Spaces: 12.0
  • Parking Features: 1 Space/Unit, Street Parking, Common
  • Attached Garage: No
  • Open Parking Spaces: 4.0
  • Total Parking Spaces: 16.0
  • General Property Description:Covered Parking Spcs: 12.0
  • General Property Description:Uncvrd Parking Spcs: 4.0
  • General Property Description:Total Parking Spcs: 16.0
  • Parking:Carport: Yes
  • Parking:Street Parking: Yes

Utilities

  • Electric: APS
  • Cooling: Electric, Heat Pump
  • Heating: Heat Pump, Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes
  • Sewer Septic Tank: Yes
  • Heating:Heat Pump2: Yes

Condo/Co-op/Association

  • Community Features: Barbecue

Association/Amenities

  • Exterior Amenities:PatioBalcony: Yes
  • Exterior Amenities:Security Light(s)3: Yes
  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Exterior Amenities:Desert Landscaping: Yes
  • Exterior Amenities:Separate Storage: Yes
  • Interior Amenities:Unfurnished: Yes
  • Community Amenities:Barbecue: Yes
  • Exterior Amenities:Pet Restrictions: Yes

Fee Information

  • Trash Expense: 900.0
  • Annual Water Sewer Expense: 4200.0

Schools

  • Junior High Dist: Mesa Unified District

Lot Info

  • Lot Size: irreg
  • Additional Parcels: Yes
  • Parcel #: 141-75-096-P

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Tenant Pays: Electricity, Cable TV
  • Number Of Units Total: 12
  • Electric Expense: 700.0
  • Annual Gross Income: 108813.0
  • Insurance Expense: 2000.0
  • Maintenance Expense: 3600.0
  • Property Net Operating Income: 91168.0
  • Annual Operating Expense: 18250.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 4570.0
  • Tax Book Number: 141.00
  • Tax Lot: 141

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/24/2019 04/24/19 Sold $1,275,000 -6.9% $850 / Sq Ft
04/04/2019 04/04/19 Pending -- -- --
01/04/2019 01/04/19 For Sale $1,369,000 -- $913 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • S

    Seller's Agent in 2019

    Scott Trevey

    REI Marketing

  • Arvle Knight

    Seller Co-Listing Agent in 2019

    Arvle Knight

    Transworld Business Advisors of Phoenix NE

    (602) 885-8000

    Section Image

  • R

    Buyer's Agent in 2019

    Robert Burk

    Desert 2 Mountain Realty

    (480) 654-6900

    4 Total Sales

    Robert Burk
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5864712

Arizona Regional Multiple Listing Service (ARMLS)

Arizona Maricopa County Mesa 85205 Central Mesa East

5233 E University Dr Unit J, Mesa, AZ

Homes for Sale in Mesa, AZ

This home is located at 5233 E University Dr Unit J, Mesa, AZ 85205 since 04 January 2019. This property was built in 1966. 5233 E University Dr Unit J is a home located in Maricopa County with nearby schools including O'Connor Elementary School, Franklin at Brimhall Elementary School, and Franklin West Elementary School.

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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