NOT LISTED FOR SALE

540 W University Dr Unit FRNT Mesa, AZ 85201

Riverview Neighborhood

Estimated Value: $317,668 - $387,000

-- Bed
2 Baths
1,135 Sq Ft
$309/Sq Ft Est. Value

Last Sold June 30, 2018

Last sale price $200,000 $176 Per Sq Ft

Est. 75% increase in value since last sale

Current estimated payment $1,958/month

2 Days on Market

Highlights

  • Cooling Available
  • Franklin at Brimhall Elementary School Rated A
  • Heating System Uses Natural Gas

About This Home

As of June 2018

This home is located at 540 W University Dr Unit FRNT, Mesa, AZ 85201 since 28 June 2018 and is currently estimated at $350,917, approximately $309 per square foot. This property was built in 1950. 540 W University Dr Unit FRNT is a home located in Maricopa County with nearby schools including Franklin at Brimhall Elementary School, Emerson Elementary School, and Franklin West Elementary School.

Last Agent to Sell the Property

Lee Pagano

Better Choice Homes, LLC License #SA569656000 Listed on: 06/28/2018

Co-Listed By

Bryan Gremillion

Better Choice Homes, LLC License #SA634605000

Last Buyer's Agent

Bryan Gremillion

Better Choice Homes, LLC License #SA634605000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $664

Year Built

  • Built in 1950

Lot Details

  • 7,928

Home Design

  • Composition Roof
  • Block Exterior

Parking

  • 4 Open Parking Spaces
  • 4 Parking Spaces

Schools

  • Emerson Elementary School
  • Carson Junior High Middle School
  • Westwood High School

Utilities

  • Cooling Available
  • Heating System Uses Natural Gas

Listing and Financial Details

  • Tenant pays for water, sewer, cable TV, landscaping
  • Tax Lot 13
  • Assessor Parcel Number 135-25-020

Community Details

Overview

  • 2 Units
  • Building Dimensions are 68x120 approx.
  • Passey Place Subdivision

Building Details

  • Operating Expense $2,300
  • Gross Income $21,660
  • Net Operating Income $20,115

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$664

Year Built

Built in 1950

Lot Details

0

Listing Details

  • Cross Street: Country Club Drive and University Dr
  • Legal Info Range: 5E
  • Property Type: Multiple Dwellings
  • Zoning: Commercial Offi
  • Number Of Buildings: 1
  • Year Built: 1950
  • Road Surface Type: Asphalt
  • Professional Management Expense: 100.0
  • Co List Office Mls Id: bchl001
  • Co List Office Phone: 602-492-9242
  • Subdivision Name: PASSEY PLACE
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator: Yes

Exterior Features

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

Garage/Parking

  • Open Parking Spaces: 4.0
  • Total Parking Spaces: 4.0
  • General Property Description:Uncvrd Parking Spcs: 4.0
  • General Property Description:Total Parking Spcs: 4.0
  • Parking:Paved Parking: Yes

Utilities

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

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Exterior Amenities:Fenced3: Yes
  • Exterior Amenities:Cable TV Available: Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Desert Landscaping: Yes
  • Interior Amenities:Unfurnished: Yes

Schools

  • Elementary School: Emerson Elementary School
  • High School: Westwood High School
  • Middle Or Junior School: Carson Junior High School

Lot Info

  • Lot Size: 68x120 approx.
  • Additional Parcels: No
  • Parcel #: 135-25-020

Multi Family

  • Owner Pays: None
  • Tenant Pays: Water, Sewer, Cable TV, Landscaping
  • Number Of Units Total: 2
  • Annual Gross Income: 21660.0
  • Insurance Expense: 1000.0
  • Maintenance Expense: 1000.0
  • Property Net Operating Income: 20115.0
  • Annual Operating Expense: 2300.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Book Number: 135.00
  • Tax Lot: 13

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Mar 23, 2022
Sold by
Barrand Washington Llc
Bought by
Sales Horacio Ovidio and Nix Ingrid Marisol
Current Estimated Value
$349,327

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$132,000
Outstanding Balance
$125,343
Interest Rate
4.16%
Mortgage Type
New Conventional
Estimated Equity
$218,644

Purchase Details

Closed on
Mar 16, 2022
Sold by
Barrand Washington Llc
Bought by
Sales Horacio Ovidio and Nix Ingrid Marisol

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$132,000
Outstanding Balance
$125,343
Interest Rate
4.16%
Mortgage Type
New Conventional
Estimated Equity
$218,644

Purchase Details

Listed on
Jun 28, 2018
Closed on
Jun 20, 2018
Sold by
Brad Young Pllc
Bought by
Barrand Washington Llc
Seller's Agent
Lee Pagano
Better Choice Homes, LLC
Buyer's Agent
Bryan Gremillion
Better Choice Homes, LLC
List Price
$210,000
Sold Price
$200,000
Premium/Discount to List
-$10,000
-4.76%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.89%

Purchase Details

Listed on
Feb 15, 2017
Closed on
Feb 23, 2017
Sold by
Alcala Xavier J
Bought by
Brad Young Pllc
Seller's Agent
Aaron Wheeler
Better Choice Homes, LLC
Buyer's Agent
Megan Pelham
Better Choice Homes, LLC
Sold Price
$695

Purchase Details

Closed on
Dec 2, 2014
Sold by
The Jarvis Family Limited Partnership
Bought by
Alcala Xavier J and Alcala Maria Socorro

Purchase Details

Closed on
Dec 12, 2000
Sold by
Hopps Opal F
Bought by
Jarvis Family Ltd Partnership
Source: Public Records

Range of Values:

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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
Sales Horacio Ovidio $318,000 Jetclosing
Sales Horacio Ovidio $318,000 Jetclosing
Barrand Washington Llc $210,000 Magnus Title Agency Llc
Brad Young Pllc $165,000 None Available
Alcala Xavier J -- Driggs Title Agency Inc
Alcala Xavier J $94,000 Great Amer Title Agency Inc
Jarvis Family Ltd Partnership -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Sales Horacio Ovidio $132,000
Closed Sales Horacio Ovidio $132,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/30/2018 06/30/18 Sold $200,000 -4.8% $176 / Sq Ft
06/27/2018 06/27/18 For Sale $210,000 0.0% $185 / Sq Ft
03/15/2017 03/15/17 Rented $695 0.0% --
03/07/2017 03/07/17 Under Contract -- -- --
02/15/2017 02/15/17 For Rent $695 -- --
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 $664 $8,004 -- --
2024 $672 $7,623 -- --
2023 $672 $20,710 $4,140 $16,570
2022 $657 $15,960 $3,190 $12,770
2021 $785 $14,780 $2,950 $11,830
2020 $775 $13,810 $2,760 $11,050
2019 $724 $11,500 $2,300 $9,200
2018 $695 $8,130 $1,620 $6,510
2017 $674 $7,300 $1,460 $5,840
2016 $662 $7,470 $1,490 $5,980
2015 $622 $6,680 $1,330 $5,350
Source: Public Records

Agents Affiliated with this Home

  • L

    Seller's Agent in 2018

    Lee Pagano

    Better Choice Homes, LLC

    (480) 313-3098

    4 Total Sales

    Section Image

  • B

    Seller Co-Listing Agent in 2018

    Bryan Gremillion

    Better Choice Homes, LLC

    Section Image

  • A

    Seller's Agent in 2017

    Aaron Wheeler

    Better Choice Homes, LLC

    Section Image

  • M

    Seller Co-Listing Agent in 2017

    Megan Pelham

    Better Choice Homes, LLC

See All Agents

Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5786505

Arizona Regional Multiple Listing Service (ARMLS)

APN: 135-25-020

Arizona Maricopa County Mesa 85201 Riverview

540 W University Dr Unit FRNT, Mesa, AZ

This home is located at 540 W University Dr Unit FRNT, Mesa, AZ 85201 since 28 June 2018 and is currently estimated at $350,917, approximately $309 per square foot. This property was built in 1950. 540 W University Dr Unit FRNT is a home located in Maricopa County with nearby schools including Franklin at Brimhall Elementary School, Emerson 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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