NOT LISTED FOR SALE

561 S Meridian Rd Apache Junction, AZ 85120

Estimated Value: $536,000 - $778,000

-- Bed
-- Bath
1,992 Sq Ft
$344/Sq Ft Est. Value

Last Sold October 19, 2022

Last sale price $540,000 $271 Per Sq Ft

Est. 27% increase in value since last sale

Current estimated payment $3,801/month

6 Days on Market

About This Home

As of October 2022

This four plex was completely remodeled in 2019 and brought up to date. It has been fully rented since the rehab. This is a great cash flow opportunity with room to raise rents. Current rents are $4085 monthly. There are three 2 bed 1 bath apartments and one 3 bed 2 bath apartment. This is a single level property. Units are individually metered for electric - tenant pays. These units have been professionally managed and have leases in place. ***DO NOT DISTURB TENANTS, DRIVE BY ONLY PLEASE*** Some of the information provided by the owners was estimated, please do your own research.

Last Agent to Sell the Property

Khyl Halbert

Mynd Property Management License #SA645062000 Listed on: 08/24/2022

Mynd Property Management

Last Buyer's Agent

Blaine Jarvis

Bullseye Property Management, LLC License #SA027837000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,134

Year Built

  • Built in 1957

Lot Details

  • 0.27

Home Design

  • Composition Roof
  • Block Exterior
  • Stucco

Flooring

  • Carpet
  • Ceramic Tile

Parking

  • 8 Open Parking Spaces
  • 8 Parking Spaces
  • Over 1 Space Per Unit

Schools

  • Cactus Canyon Junior High
  • Apache Junction High School

Utilities

  • Central Heating and Cooling System
  • Individual Controls for Heating
  • Private Water Source
  • Master Water Meter

Listing and Financial Details

  • The owner pays for trash collection, water, sewer
  • Legal Lot and Block 3 / 2
  • Assessor Parcel Number 101-08-008

Community Details

Overview

  • 4 Units
  • Building Dimensions are 108.92x108,92
  • Smythe's County Line Subdivision

Building Details

  • Operating Expense $14,956
  • Gross Income $46,569
  • Net Operating Income $33,000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,134

Year Built

Built in 1957

Lot Details

0

Listing Details

  • Cross Street: Broadway and Meridian
  • Legal Info Range: 08E
  • Property Type: Multiple Dwellings
  • Zoning: GR
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1957
  • Tax Year: 2021
  • Road Surface Type: Asphalt
  • Professional Management Expense: 5200.0
  • Subdivision Name: SMYTHE'S COUNTY LINE SUBDIVISION
  • Cooling:Central Air: Yes
  • Roofing:Composition: Yes
  • Water Source Private14: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Carpet, Ceramic Tile
  • Appliances: Free-Standing Range
  • Appliances Included:FS OvenRange: Yes

Exterior Features

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

Garage/Parking

  • Parking Features: >1 Space Per Unit
  • Attached Garage: No
  • 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 Features >1 Space Per Unit: Yes

Utilities

  • Electric: APS, Individual Meter
  • Cooling: Central Air, Individual
  • Heating: Individual, Central
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: Master Meter, Private
  • Heating:Individual: Yes
  • Heating:Central: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Interior Amenities:Unfurnished: Yes

Fee Information

  • Trash Expense: 598.0
  • Annual Water Sewer Expense: 2624.0

Schools

  • High School: Apache Junction High School
  • Junior High Dist: Apache Junction Unified District
  • Middle Or Junior School: Cactus Canyon Junior High

Lot Info

  • Lot Size: 108.92x108,92
  • Additional Parcels: No
  • Parcel #: 101-08-008

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer
  • Number Of Units Total: 4
  • Annual Gross Income: 46569.0
  • Insurance Expense: 2400.0
  • Maintenance Expense: 2000.0
  • Property Net Operating Income: 33000.0
  • Annual Operating Expense: 14956.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 2134.0
  • Tax Block: 2
  • Tax Book Number: 101.00
  • Tax Lot: 3

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 24, 2022
Closed on
Oct 10, 2022
Sold by
Juvan Holdings Llc
Bought by
Tltaz Investments Llc
Seller's Agent
Khyl Halbert
Mynd Property Management
Buyer's Agent
Blaine Jarvis
Bullseye Property Management, LLC
List Price
$499,900
Sold Price
$540,000
Premium/Discount to List
$40,100
8.02%
Current Estimated Value
$684,667

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$144,667
Avg. Annual Appreciation
12.53%
Original Mortgage
$405,000
Outstanding Balance
$391,727
Interest Rate
5.89%
Mortgage Type
New Conventional
Estimated Equity
$371,468

Purchase Details

Closed on
Nov 20, 2019
Sold by
Ash Cecil
Bought by
Juvan Holdings Llc

Purchase Details

Closed on
Aug 22, 2019
Sold by
Ash Linda J and Ash Cecil
Bought by
Ash Cecil

Purchase Details

Closed on
Mar 2, 2018
Sold by
B I C K Home Improvements And Design Llc
Bought by
Eel Holdings Llc

Purchase Details

Closed on
Nov 14, 2016
Sold by
Arz Partners Lp
Bought by
Bick Home Improverment & Design Llc

Purchase Details

Closed on
Jun 7, 2005
Sold by
Nallapareddy Indrarathy
Bought by
Yarrapureddy Somasekhara R

Purchase Details

Closed on
Apr 26, 1999
Sold by
Lipka Prokop Ronda and Lipka Ronda
Bought by
Guinn Elva M and Howie Cynthia D
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
Tltaz Investments Llc $540,000 Great American Title
Juvan Holdings Llc $260,000 None Available
Ash Cecil -- Great American Title Agency
Ash Cecil $260,000 Great American Title Agency
Eel Holdings Llc -- None Available
Bick Home Improverment & Design Llc $91,500 American Title Service Agenc
Yarrapureddy Somasekhara R -- --
Guinn Elva M $149,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Tltaz Investments Llc $405,000
Previous Owner Arz Partners Lp $50,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/19/2022 10/19/22 Sold $540,000 +8.0% $271 / Sq Ft
10/06/2022 10/06/22 Price Changed $499,900 -7.4% $251 / Sq Ft
08/30/2022 08/30/22 Pending -- -- --
08/27/2022 08/27/22 Off Market $540,000 -- --
08/24/2022 08/24/22 For Sale $499,900 -- $251 / 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 $2,220 $33,011 -- --
2024 $2,095 $32,560 -- --
2023 $2,185 $24,357 $2,950 $21,407
2022 $2,095 $20,708 $2,950 $17,758
2021 $2,134 $20,048 $0 $0
2020 $2,079 $8,764 $0 $0
2019 $993 $8,522 $0 $0
2018 $972 $6,216 $0 $0
2017 $980 $6,130 $0 $0
2016 $976 $6,212 $1,097 $5,115
2014 $860 $5,404 $1,257 $4,147
Source: Public Records

Agents Affiliated with this Home

  • K

    Seller's Agent in 2022

    Khyl Halbert

    Mynd Property Management

    Section Image
  • Blaine Jarvis

    Buyer's Agent in 2022

    Blaine Jarvis

    Bullseye Property Management, LLC

    (480) 433-6163

    4 in this area

    70 Total Sales

    Blaine Jarvis
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6454584

Arizona Regional Multiple Listing Service (ARMLS)

APN: 101-08-008

Arizona Pinal County Apache Junction 85120

561 S Meridian Rd, Apache Junction, AZ

This home is located at 561 S Meridian Rd, Apache Junction, AZ 85120 since 24 August 2022 and is currently estimated at $684,667, approximately $343 per square foot. This property was built in 1957. 561 S Meridian Rd is a home located in Pinal County with nearby schools including Four Peaks Elementary School, Cactus Canyon Junior High School, and Apache Junction High 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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