NOT LISTED FOR SALE

5825 E University Dr Mesa, AZ 85205

Central Mesa East Neighborhood

Estimated Value: $420,000 - $927,000

-- Bed
-- Bath
3,231 Sq Ft
$208/Sq Ft Est. Value

Last Sold May 03, 2021

Last sale price $2,400,000 $743 Per Sq Ft

Current estimated payment $3,854/month

11 Days on Market

Highlights

  • Putting Green
  • Cooling Available
  • Individual Controls for Heating
  • Franklin at Brimhall Elementary School Rated A
  • Concrete Flooring

About This Home

As of May 2021

Demand is so High for These Red Brick Beautiful Buildings Feature 8-2 Bedroom Units and 8-1 Bedroom Units, 100% Rented and Rarely a Vacancy. Many Long Term Occupants of 5 Years or More Up to 12 Years. Each Unit has a Private Patio, Full Size Washer/Dryer Hook-up.
Interiors Well Kept and Separately Metered for Electric. Each Building Has it's Own Parcel Number 141-49-006-P,Q,R & S. This Property has Been Owner Operated for Approximately the Last 17 Years. Owner has Serviced Air Conditioners Annually
and All Appear to be in Working Condition. Property is in the County, Although Water & Sewer is Serviced by City of Mesa. All Facts and Figures are Approximate, Buyer to Verify to Their Satisfaction.

Last Agent to Sell the Property

Steve Fowler

Better Homes & Gardens Real Estate SJ Fowler License #BR012851000 Listed on: 01/25/2021

Better Homes & Gardens Real Estate SJ Fowler

Co-Listed By

Steven Cvetanovich

Better Homes & Gardens Real Estate SJ Fowler License #BR646588000

Last Buyer's Agent

Dallin Hammond

ABI Multifamily License #SA677560000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,169

Year Built

  • Built in 1984

Lot Details

  • 0.28

Home Design

  • Brick Exterior Construction
  • Composition Roof
  • Block Exterior

Parking

  • 6 Open Parking Spaces
  • 22 Parking Spaces
  • 16 Covered Spaces
  • Common or Shared Parking

Utilities

  • Cooling Available
  • Individual Controls for Heating

Additional Features

  • Concrete Flooring
  • Additional Parcels

Listing and Financial Details

  • The owner pays for trash collection, water, sewer
  • Assessor Parcel Number 141-49-006-Q

Community Details

Overview

  • 4 Buildings
  • 16 Units
  • Building Dimensions are IRR

Recreation

  • Putting Green

Building Details

  • Operating Expense $25,305
  • Gross Income $156,114
  • Net Operating Income $129,645

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,169

Year Built

Built in 1984

Lot Details

0

Listing Details

  • Cross Street: University & Higley
  • Legal Info Range: 6E
  • Property Type: Multiple Dwellings
  • Zoning: R3
  • Number Of Buildings: 4
  • Year Built: 1984
  • Tax Year: 2020
  • Directions: East to Property. Driveway B
  • Road Surface Type: Asphalt
  • Co List Office Mls Id: sjfl01
  • Co List Office Phone: 480-649-3536
  • Tax Parcel Letter: Q
  • Construction Brick: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Concrete
  • Appliances Included:Refrigerator: Yes
  • Appliances Included:Disposal: Yes
  • Appliances Included:BI OvenRange: Yes

Exterior Features

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

Garage/Parking

  • Total Covered Spaces: 16.0
  • Parking Features: Common
  • Attached Garage: No
  • Open Parking Spaces: 6.0
  • Total Parking Spaces: 22.0
  • General Property Description:Covered Parking Spcs: 16.0
  • General Property Description:Uncvrd Parking Spcs: 6.0
  • General Property Description:Total Parking Spcs: 22.0
  • Parking:Carport: Yes
  • Parking:_greater_1 Space Per Unit: Yes

Utilities

  • Electric: SRP
  • Cooling: Individual, Electric
  • Heating: Individual, Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes
  • Heating:Individual: Yes

Condo/Co-op/Association

  • Community Features: Golf/Putting Green, No Pool

Association/Amenities

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

Fee Information

  • Trash Expense: 1296.0
  • Annual Water Sewer Expense: 7200.0

Lot Info

  • Lot Size: IRR
  • Additional Parcels: Yes
  • Parcel #: 141-49-006-Q

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer
  • Number Of Units Total: 16
  • Electric Expense: 480.0
  • Annual Gross Income: 156114.0
  • Insurance Expense: 2560.0
  • Maintenance Expense: 6000.0
  • Property Net Operating Income: 129645.0
  • Annual Operating Expense: 25305.0
  • Vacancy Allowance Rate: 0.02

Tax Info

  • Tax Annual Amount: 7169.0
  • Tax Book Number: 141.00
  • Tax Lot: 0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
May 18, 2023
Sold by
Suncourt Llc
Bought by
Starmark Arizona Vi Llc
Current Estimated Value
$673,500

Purchase Details

Closed on
May 15, 2023
Sold by
Suncourt Llc
Bought by
Starmark Arizona Vi Llc

Purchase Details

Closed on
Sep 17, 2021
Sold by
Suncourt Llc
Bought by
Maricopa County
Source: Public Records

Range of Values:

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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
Starmark Arizona Vi Llc $5,880,000 Chicago Title Agency
Starmark Arizona Vi Llc $5,880,000 Chicago Title Agency
Maricopa County $9,557 Security Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Suncourt Llc $3,900,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/03/2021 05/03/21 Sold $2,400,000 0.0% $743 / Sq Ft
02/05/2021 02/05/21 Pending -- -- --
02/01/2021 02/01/21 Pending -- -- --
01/25/2021 01/25/21 For Sale $2,400,000 -- $743 / 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 $1,603 $17,792 -- --
2024 $1,624 $16,945 -- --
2023 $1,585 $44,260 $8,850 $35,410
2022 $1,585 $32,601 $6,431 $26,170
Source: Public Records

Agents Affiliated with this Home

  • Steve Fowler

    Seller's Agent in 2021

    Steve Fowler

    Better Homes & Gardens Real Estate SJ Fowler

    (602) 430-5843

    4 in this area

    66 Total Sales

    Steve Fowler
    Section Image
  • Steven Cvetanovich

    Seller Co-Listing Agent in 2021

    Steven Cvetanovich

    Better Homes & Gardens Real Estate SJ Fowler

    (480) 323-5672

    4 in this area

    37 Total Sales

    Steven Cvetanovich
    Section Image
  • Dallin Hammond

    Buyer's Agent in 2021

    Dallin Hammond

    ABI Multifamily

    (602) 714-1400

    1 in this area

    38 Total Sales

    Dallin Hammond
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6185528

Arizona Regional Multiple Listing Service (ARMLS)

APN: 141-49-006W

Arizona Maricopa County Mesa 85205 Central Mesa East

5825 E University Dr, Mesa, AZ

This home is located at 5825 E University Dr, Mesa, AZ 85205 since 25 January 2021 and is currently estimated at $673,500, approximately $208 per square foot. This property was built in 1984. 5825 E University Dr 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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