NOT LISTED FOR SALE

Estimated Value: $510,609 - $628,000

1 Bed
-- Bath
2,640 Sq Ft
$216/Sq Ft Est. Value

Last Sold March 17, 2017

Last sale price $265,000 $100 Per Sq Ft

Est. 115% increase in value since last sale

Current estimated payment $3,085/month

4 Days on Market

Highlights

  • Cooling Available
  • Ceramic Tile Flooring
  • Heating Available
  • Franklin at Brimhall Elementary School Rated A

About This Home

As of March 2017

This is an excellent investment opportunity. It is a well-maintained block construction fourplex with long-term tenants on every unit. The roof and the air conditioning are relatively new. The laundry room brings extra income. The tenants pay for their own electricity, gas and trash. Please drive by only, do not disturb the tenants. You are going to be allowed to see the units during the inspection period. The two buildings 547 and 555 S Bellview are to be sold together.

Last Agent to Sell the Property

Carlos Alvarez

Arizona Elite Properties License #BR507936000 Listed on: 02/03/2017

Arizona Elite Properties

Last Buyer's Agent

Carlos Alvarez

Arizona Elite Properties License #BR507936000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,067

Year Built

  • Built in 1962

Lot Details

  • 9,148

Home Design

  • Wood Frame Construction
  • Composition Roof
  • Block Exterior
  • Stucco

Flooring

  • Ceramic Tile Flooring

Parking

  • 4 Open Parking Spaces
  • 4 Parking Spaces

Schools

  • Mesa Junior High School
  • Mesa High School

Utilities

  • Cooling Available
  • Heating Available

Listing and Financial Details

  • Tenant pays for trash collection, gas, electricity
  • The owner pays for water, sewer
  • Tax Lot 16
  • Assessor Parcel Number 139-23-043-B

Community Details

Overview

  • 4 Units
  • Building Dimensions are 11381
  • Lydia Allen Tract Subdivision

Building Details

  • Operating Expense $4,967
  • Gross Income $34,920
  • Net Operating Income $2,010

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,067

Year Built

Built in 1962

Lot Details

0

Listing Details

  • Cross Street: Broadway Rd and Mesa Drive.
  • Legal Info Range: 5E
  • Property Type: Multiple Dwellings
  • Zoning: MULTI
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1962
  • Tax Year: 2016
  • Road Surface Type: Asphalt
  • Subdivision Name: LYDIA ALLEN TRACT
  • Tax Parcel Letter: B
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Ceramic Tile
  • Appliances: BI Oven/Range
  • Appliances Included:BI OvenRange: Yes
  • Appliances Included:Refrigerator2: Yes

Exterior Features

  • Disclosures: Seller Prop Disc Stm
  • Construction Type: Stucco, Block, Frame - Wood
  • Roof: Composition
  • Construction:Frame - Wood: Yes
  • Construction:Block: Yes

Garage/Parking

  • Parking Features: 1 Space/Unit
  • Attached Garage: No
  • 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

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: Other, See Remarks

Fee Information

  • Annual Water Sewer Expense: 3000.0

Schools

  • High School: Mesa High School
  • Junior High Dist: Mesa Unified District
  • Middle Or Junior School: Mesa Junior High School

Lot Info

  • Lot Size: 11381
  • Additional Parcels: No
  • Parcel #: 139-23-043-B

Multi Family

  • Owner Pays: Water, Sewer
  • Tenant Pays: Trash Collection, Gas, Electricity
  • Number Of Units Total: 4
  • Annual Gross Income: 34920.0
  • Insurance Expense: 900.0
  • Property Net Operating Income: 2010.0
  • Annual Operating Expense: 4967.0

Tax Info

  • Tax Annual Amount: 1067.0
  • Tax Book Number: 139.00
  • Tax Lot: 16

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Mar 14, 2025
Sold by
Belleview 8 Llc and Bellview 8 Llc
Bought by
Prs Az 1 Llc
Current Estimated Value
$570,152

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,538,200
Outstanding Balance
$2,525,208
Interest Rate
6.87%
Mortgage Type
New Conventional
Estimated Equity
-$1,955,056

Purchase Details

Closed on
Mar 28, 2021
Sold by
Schnepp Peter A and Schnepp Randee L
Bought by
Belleview 8 Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$304,500
Interest Rate
2.7%
Mortgage Type
New Conventional

Purchase Details

Closed on
Feb 24, 2021
Sold by
Belleview 8 Llc
Bought by
Schnepp Peter A and Schnepp Randee L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$304,500
Interest Rate
2.7%
Mortgage Type
New Conventional

Purchase Details

Closed on
Nov 17, 2018
Sold by
Prs Properties Llc
Bought by
Bellview 8 Llc

Purchase Details

Listed on
Feb 3, 2017
Closed on
Mar 8, 2017
Sold by
Schnepp Peter and Schnepp Randee
Bought by
Prs Properties Llc
Seller's Agent
Carlos Alvarez
Arizona Elite Properties
Buyer's Agent
Carlos Alvarez
Arizona Elite Properties
List Price
$265,000
Sold Price
$265,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
9.09%
Original Mortgage
$198,750
Interest Rate
4.17%
Mortgage Type
New Conventional

Purchase Details

Listed on
Feb 3, 2017
Closed on
Mar 7, 2017
Sold by
Padilla Jesus P and Padilla Noelia
Bought by
Schnepp Peter and Schnepp Randee
Seller's Agent
Carlos Alvarez
Arizona Elite Properties
Buyer's Agent
Carlos Alvarez
Arizona Elite Properties
List Price
$265,000
Sold Price
$265,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$198,750
Interest Rate
4.17%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jan 23, 2004
Sold by
Djukic Milan
Bought by
Oscar Le Ceasar Investments Llc

Purchase Details

Closed on
Oct 16, 2000
Sold by
Wesleyan Investments Inc
Bought by
Padilla Jesus P and Padilla Moelia

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$110,950
Interest Rate
10.99%
Mortgage Type
Commercial

Purchase Details

Closed on
Jul 31, 1997
Sold by
M A C Investments Inc
Bought by
Wesleyan Investments Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$68,000
Interest Rate
7.45%

Purchase Details

Closed on
Jun 12, 1996
Sold by
Treloar Jack A and Morga Graig
Bought by
Great Western Bank Fsb

Purchase Details

Closed on
Oct 14, 1994
Sold by
M A C Investments
Bought by
M A C Investments Inc
Source: Public Records
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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
Prs Az 1 Llc -- Westcor Land Title Insurance C
Belleview 8 Llc -- Accommodation
Schnepp Peter A -- American Title Svc Agcy Llc
Bellview 8 Llc -- None Available
Prs Properties Llc -- None Available
Schnepp Peter $265,000 First Arizona Title Agency
Oscar Le Ceasar Investments Llc -- --
Padilla Jesus P $158,500 Grand Canyon Title Agency In
Wesleyan Investments Inc -- Security Title Agency
M A C Investments Inc $60,000 Security Title Agency
Great Western Bank Fsb -- First American Title
M A C Investments Inc -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Prs Az 1 Llc $2,538,200
Previous Owner Schnepp Peter A $304,500
Previous Owner Schnepp Peter $198,750
Previous Owner Padilla Jesus P $110,950
Previous Owner Wesleyan Investments Inc $68,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/17/2017 03/17/17 Sold $265,000 0.0% $100 / Sq Ft
02/07/2017 02/07/17 Pending -- -- --
02/03/2017 02/03/17 For Sale $265,000 -- $100 / 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 $1,273 $12,906 -- --
2024 $1,277 $12,292 -- --
2023 $1,277 $43,510 $8,700 $34,810
2022 $1,251 $30,150 $6,030 $24,120
2021 $1,266 $23,810 $4,760 $19,050
2020 $1,250 $21,000 $4,200 $16,800
2019 $1,168 $17,010 $3,400 $13,610
2018 $1,120 $13,920 $2,780 $11,140
2017 $1,087 $13,600 $2,720 $10,880
2016 $1,067 $12,550 $2,510 $10,040
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5556799

Arizona Regional Multiple Listing Service (ARMLS)

APN: 139-23-043B