NOT LISTED FOR SALE

540 W University Dr Mesa, AZ 85201

Riverview Neighborhood

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

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

Last Sold February 27, 2017

Last sale price $165,000 $145 Per Sq Ft

Est. 112% increase in value since last sale

Current estimated payment $1,958/month

18 Days on Market

Highlights

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

About This Home

As of February 2017

Remodeled duplex: West side unit features 3 bedrooms 2 baths and east side unit is a one bedroom studio. each unit has their private back yard.

Last Agent to Sell the Property

Liza Drake

West USA Realty License #SA036578000 Listed on: 01/19/2017

West USA Realty

Last Buyer's Agent

Bryan Gremillion

Better Choice Homes, LLC License #SA634605000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $662

Year Built

  • Built in 1950

Lot Details

  • 7,841

Home Design

  • Composition Roof
  • Block Exterior

Flooring

  • Carpet
  • Ceramic Tile

Parking

  • 2 Open Parking Spaces
  • 2 Parking Spaces
  • Paved Parking

Schools

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

Utilities

  • Cooling Available
  • Heating System Uses Natural Gas

Listing and Financial Details

  • The owner pays for electricity, trash collection, water, sewer
  • 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 $5,562
  • Gross Income $21,090
  • Net Operating Income $14,370

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$662

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
  • Ownership: Fee Simple
  • Year Built: 1950
  • Tax Year: 2016
  • Directions: to 540 W UNIVERSITY DR
  • Road Surface Type: Asphalt
  • Subdivision Name: Passey Place
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Carpet, Ceramic Tile
  • Appliances: F/S Oven/Range
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator2: Yes

Exterior Features

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

Garage/Parking

  • Parking Features: Paved Parking
  • Attached Garage: No
  • Open Parking Spaces: 2.0
  • Total Parking Spaces: 2.0
  • General Property Description:Uncvrd Parking Spcs: 2.0
  • General Property Description:Total Parking Spcs: 2.0
  • 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

Fee Information

  • Annual Water Sewer Expense: 2000.0

Schools

  • Elementary School: Emerson Elementary School
  • High School: Westwood High School
  • Junior High Dist: Mesa Unified District
  • 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: Electricity, Trash Collection, Water, Sewer
  • Tenant Pays: None
  • Number Of Units Total: 2
  • Electric Expense: 2000.0
  • Annual Gross Income: 21090.0
  • Insurance Expense: 400.0
  • Maintenance Expense: 300.0
  • Property Net Operating Income: 14370.0
  • Annual Operating Expense: 5562.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 662.0
  • 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
$124,926
Interest Rate
4.16%
Mortgage Type
New Conventional
Estimated Equity
$215,383

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
$124,926
Interest Rate
4.16%
Mortgage Type
New Conventional
Estimated Equity
$215,383

Purchase Details

Closed on
Jun 20, 2018
Sold by
Brad Young Pllc
Bought by
Barrand Washington Llc

Purchase Details

Listed on
Jan 19, 2017
Closed on
Feb 23, 2017
Sold by
Alcala Xavier J
Bought by
Brad Young Pllc
Seller's Agent
Liza Drake
West USA Realty
Buyer's Agent
Bryan Gremillion
Better Choice Homes, LLC
List Price
$180,000
Sold Price
$165,000
Premium/Discount to List
-$15,000
-8.33%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.94%

Purchase Details

Listed on
Oct 2, 2014
Closed on
Dec 2, 2014
Sold by
The Jarvis Family Limited Partnership
Bought by
Alcala Xavier J and Alcala Maria Socorro
Seller's Agent
David Jarvis
Gentry Real Estate
Buyer's Agent
Liza Drake
West USA Realty
List Price
$119,900
Sold Price
$94,000
Premium/Discount to List
-$25,900
-21.6%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
28.55%

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
02/27/2017 02/27/17 Sold $165,000 -5.7% $145 / Sq Ft
02/06/2017 02/06/17 Pending -- -- --
02/03/2017 02/03/17 Price Changed $175,000 -2.8% $154 / Sq Ft
01/19/2017 01/19/17 For Sale $180,000 +91.5% $159 / Sq Ft
12/04/2014 12/04/14 Sold $94,000 -21.6% $83 / Sq Ft
11/23/2014 11/23/14 Pending -- -- --
10/01/2014 10/01/14 For Sale $119,900 -- $106 / 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 $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

  • Liza Drake

    Seller's Agent in 2017

    Liza Drake

    West USA Realty

    (602) 329-7729

    3 in this area

    113 Total Sales

    Section Image

  • B

    Buyer's Agent in 2017

    Bryan Gremillion

    Better Choice Homes, LLC

    Section Image

  • D

    Seller's Agent in 2014

    David Jarvis

    Gentry Real Estate

    (602) 370-5525

    6 Total Sales

    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5550413

Arizona Regional Multiple Listing Service (ARMLS)

APN: 135-25-020

Arizona Maricopa County Mesa 85201 Riverview

540 W University Dr, Mesa, AZ

This home is located at 540 W University Dr, Mesa, AZ 85201 since 19 January 2017 and is currently estimated at $350,917, approximately $309 per square foot. This property was built in 1950. 540 W University Dr 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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