NOT LISTED FOR SALE

Estimated Value: $286,297 - $592,000

1 Bed
-- Bath
1,056 Sq Ft
$376/Sq Ft Est. Value

Last Sold March 15, 2018

Last sale price $490,000 $464 Per Sq Ft

Est. 19% decrease in value since last sale

Current estimated payment $2,117/month

41 Days on Market

Highlights

  • Cooling Available
  • Carpet
  • Individual Controls for Heating
  • Franklin at Brimhall Elementary School Rated A

About This Home

As of March 2018

Super Bargain here With Lots of Upside. Investors Take a Close Look as This Property Just Needs an Active Manager to add Some Exterior Amenities and to Raise the Rents to Market Adding Around a $1,000 a Month to the Rent Roll. Already Good Cash Flow, But You Can Make it Even Better. You Can Add Value to This One ! All Facts and Figures 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: 12/12/2017

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

Hedy Li

Cactus Mountain Properties, LLC License #SA571600000

Cactus Mountain Properties, LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,120

Year Built

  • Built in 1955

Lot Details

  • Property fronts an alley
  • Additional Parcels

Home Design

  • Wood Frame Construction
  • Composition Roof
  • Stucco

Flooring

  • Carpet
  • Vinyl

Parking

  • 18 Open Parking Spaces
  • 18 Parking Spaces
  • Free Parking
  • On-Street Parking

Utilities

  • Cooling Available
  • Individual Controls for Heating
  • Master Water Meter

Listing and Financial Details

  • Tenant pays for gas, electricity, cable TV
  • The owner pays for trash collection, water
  • Legal Lot and Block 16 / 3
  • Assessor Parcel Number 141-60-046

Community Details

Overview

  • 3 Buildings
  • 9 Units
  • Building Dimensions are IRR
  • Granite Reef Vista 1 Subdivision

Building Details

  • Operating Expense $17,834
  • Gross Income $50,730
  • Net Operating Income $32,802

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,120

Year Built

Built in 1955

Lot Details

0

Listing Details

  • Cross Street: 64th & Main St
  • Legal Info Range: 6E
  • Property Type: Multiple Dwellings
  • Zoning: Multi
  • Number Of Buildings: 3
  • Ownership: Fee Simple
  • Year Built: 1955
  • Tax Year: 2017
  • Road Frontage Type: Alley
  • Road Surface Type: Asphalt
  • Professional Management Expense: 3552.0
  • Co List Office Mls Id: sjfl01
  • Co List Office Phone: 480-649-3536
  • Subdivision Name: GRANITE REEF VISTA 1
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Carpet, Vinyl
  • Appliances: BI Oven/Range
  • Appliances Included:BI OvenRange: Yes
  • Appliances Included:Refrigerator2: Yes

Exterior Features

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

Garage/Parking

  • Parking Features: Free, >1 Space Per Unit, Street Parking
  • Attached Garage: No
  • Open Parking Spaces: 18.0
  • Total Parking Spaces: 18.0
  • General Property Description:Uncvrd Parking Spcs: 18.0
  • General Property Description:Total Parking Spcs: 18.0
  • Parking:Free: Yes
  • Parking:Street Parking: Yes
  • Parking:_greater_1 Space Per Unit: Yes

Utilities

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

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Exterior Amenities:Cable TV Available: Yes
  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Desert Landscaping: Yes
  • Interior Amenities:Unfurnished: Yes

Fee Information

  • Annual Water Sewer Expense: 2040.0

Schools

  • Junior High Dist: Mesa Unified District

Lot Info

  • Lot Size: IRR
  • Additional Parcels: Yes
  • Parcel #: 141-60-046

Multi Family

  • Owner Pays: Trash Collection, Water
  • Tenant Pays: Gas, Electricity, Cable TV
  • Number Of Units Total: 9
  • Annual Gross Income: 50730.0
  • Insurance Expense: 4300.0
  • Maintenance Expense: 4000.0
  • Property Net Operating Income: 32802.0
  • Annual Operating Expense: 17834.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 2120.0
  • Tax Block: 3
  • Tax Book Number: 141.00
  • Tax Lot: 16

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Dec 12, 2017
Closed on
Mar 14, 2018
Sold by
Hall Elizabeth A
Bought by
New Avalon Nine Llc
Seller's Agent
Steve Fowler
Better Homes & Gardens Real Estate SJ Fowler
Buyer's Agent
Hedy Li
Cactus Mountain Properties, LLC
List Price
$500,000
Sold Price
$490,000
Premium/Discount to List
-$10,000
-2%
Current Estimated Value
$396,574

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$93,426
Avg. Annual Appreciation
-2.66%

Purchase Details

Closed on
Apr 30, 2002
Sold by
Hall Elizabeth A
Bought by
Hall Elizabeth A and The Elizabeth A Hall Living Trust

Purchase Details

Closed on
Jul 10, 1997
Sold by
Hanson Julie Ann
Bought by
Hall Elizabeth A
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
New Avalon Nine Llc $490,000 Premier Title Agency
Hall Elizabeth A -- --
Hall Elizabeth A -- --
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/15/2018 03/15/18 Sold $490,000 -2.0% $464 / Sq Ft
03/01/2018 03/01/18 Price Changed $500,000 0.0% $473 / Sq Ft
01/22/2018 01/22/18 Pending -- -- --
01/18/2018 01/18/18 Pending -- -- --
12/12/2017 12/12/17 For Sale $500,000 -- $473 / 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 $513 $5,687 -- --
2024 $519 $5,416 -- --
2023 $519 $18,560 $3,710 $14,850
2022 $507 $13,560 $2,710 $10,850
2021 $505 $12,100 $2,420 $9,680
2020 $501 $11,030 $2,200 $8,830
2019 $465 $9,020 $1,800 $7,220
2018 $453 $7,900 $1,580 $6,320
2017 $437 $7,670 $1,530 $6,140
2016 $428 $6,360 $1,270 $5,090
2015 $400 $5,370 $1,070 $4,300
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5697931

Arizona Regional Multiple Listing Service (ARMLS)

APN: 141-60-046