$400,000
SOLD MAY 27, 2016
-- Bed
-- Bath
1,979 Sq Ft
9,670 Sq Ft Lot

Recently Sold

$202 Per Sq Ft

8% Below List Price

49 Days on Market

Highlights

  • Clubhouse
  • Heated Community Pool
  • Multiple cooling system units
  • Franklin at Brimhall Elementary School Rated A
  • Shuffleboard Court
  • Ceiling Fan

About This Home

As of July 2019

DRIVE BY ONLY - DO NOT CONTACT OR BOTHER TENANTS - THEY ARE NOT AWARE OF THE SALE. This is a 55+ age restricted community under Velda Rose Estates. This recently updated, well-maintained, high-return, 5-plex building is situated on two parcels. The yard is very low maintenance and the tenants are long-term and well-established.

Last Agent to Sell the Property

Mark Cassaday

DeLex Realty License #SA579244000 Listed on: 03/02/2016

Last Buyer's Agent

Jill Anderson

Russ Lyon Sotheby's International Realty License #SA538355000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,523

Year Built

  • Built in 1972

Lot Details

  • Property fronts an alley
  • Additional Parcels

Home Design

  • Brick Exterior Construction
  • Wood Frame Construction
  • Composition Roof
  • Block Exterior
  • Siding

Interior Spaces

  • Ceiling Fan

Flooring

  • Carpet
  • Vinyl

Parking

  • 10 Open Parking Spaces
  • 10 Parking Spaces

Schools

  • Adult Elementary And Middle School
  • Adult High School

Utilities

  • Multiple cooling system units
  • Multiple Heating Units
  • Heat Pump System
  • Individual Controls for Heating
  • Master Water Meter
  • Septic Tank

Listing and Financial Details

  • Tenant pays for electricity, cable TV
  • The owner pays for trash collection, water, sewer, landscaping
  • Tax Lot 263
  • Assessor Parcel Number 141-61-062

Community Details

Overview

  • 5 Units
  • Building Dimensions are 202.94' x 95.60
  • Velda Rose Estates East Subdivision

Amenities

  • Clubhouse
  • Game Room

Recreation

  • Shuffleboard Court
  • Heated Community Pool

Building Details

  • Operating Expense $10,504
  • Gross Income $3,500
  • Net Operating Income $31,329

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,523

Year Built

Built in 1972

Lot Details

0

Listing Details

  • Cross Street: Recker Road and University Drive
  • Legal Info Range: 6E
  • Property Type: Multiple Dwellings
  • Zoning: R-3
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1972
  • Tax Year: 2015
  • Directions: East on University to 65th street, right on 65th to Butte, right on Butte and the 5-plex property is on the northwest corner facing Butte Street.
  • Road Frontage Type: Alley
  • Road Surface Type: Asphalt, Curb(s) & Gutter(s), Sidewalk(s)
  • Subdivision Name: VELDA ROSE ESTATES EAST
  • Cooling:Ceiling Fan(s): Yes
  • Construction Brick: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Carpet, Vinyl
  • Appliances: BI Oven/Range, F/S Oven/Range, W/D Hookup
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:WD Hookup: Yes
  • Appliances Included:BI OvenRange: Yes
  • Appliances Included:Refrigerator2: Yes
  • Appliances Included:Dishwasher2: Yes
  • Appliances Included:Disposal2: Yes

Exterior Features

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

Garage/Parking

  • Parking Features: >1 Space Per Unit
  • Attached Garage: No
  • Open Parking Spaces: 10.0
  • Total Parking Spaces: 10.0
  • General Property Description:Uncvrd Parking Spcs: 10.0
  • General Property Description:Total Parking Spcs: 10.0
  • Parking:_greater_1 Space Per Unit: Yes

Utilities

  • Electric: SRP, Individual Meter
  • Cooling: 2 or More Units, Individual, Heat Pump, Electric, Ceiling Fan(s)
  • Heating: Individual, Heat Pump, 2 or More Units, Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise, Master Meter
  • Heating:Electric: Yes
  • Sewer Septic Tank: Yes
  • Heating:Individual: Yes
  • Heating:Heat Pump2: Yes

Condo/Co-op/Association

  • Community Features: Shuffle Brd/Lawn Bwl, Game/Rec Room, Clubhouse, Pool

Association/Amenities

  • Exterior Amenities:PatioBalcony: Yes
  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Interior Amenities:Mini Blinds: Yes
  • Community Amenities:Pool2: Yes
  • Community Amenities:Clubhouse: Yes
  • Community Amenities:GameRec Room: Yes
  • Community Amenities:Shuffle BrdLawn Bwl: Yes

Fee Information

  • Trash Expense: 1161.97
  • Annual Water Sewer Expense: 938.28

Schools

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

Lot Info

  • Lot Size: 202.94' x 95.60
  • Additional Parcels: Yes
  • Parcel #: 141-61-062

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Tenant Pays: Electricity, Cable TV
  • Number Of Units Total: 5
  • Annual Gross Income: 3500.0
  • Insurance Expense: 2050.64
  • Maintenance Expense: 2200.0
  • Property Net Operating Income: 31329.35
  • Annual Operating Expense: 10503.69

Tax Info

  • Tax Annual Amount: 1522.8
  • Tax Book Number: 141.00
  • Tax Lot: 263

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Nov 6, 2020
Sold by
Binder Cathryn Marie
Bought by
Binder Cathryn Marie

Purchase Details

Listed on
Mar 2, 2016
Closed on
May 20, 2016
Sold by
Mdjd Ventures Llc
Bought by
Green Street Group Properties Llc
Seller's Agent
Mark Cassaday
DeLex Realty
Buyer's Agent
Jill Anderson
Russ Lyon Sotheby's International Realty
List Price
$435,000
Sold Price
$400,000
Premium/Discount to List
-$35,000
-8.05%

Purchase Details

Closed on
Oct 26, 2007
Sold by
Cassaday Calvin and Cassaday Janet D
Bought by
Mdjd Ventures Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$325,000
Interest Rate
6.29%
Mortgage Type
Seller Take Back
Source: Public Records

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Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Type Sale Price Title Company
Interfamily Deed Transfer -- None Available
Cash Sale Deed $395,000 Security Title Agency Inc
Warranty Deed $325,000 Security Title Agency Inc
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $325,000 Seller Take Back
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/09/2019 07/09/19 Sold $455,000 -4.2% $230 / Sq Ft
06/13/2019 06/13/19 Pending -- -- --
06/04/2019 06/04/19 For Sale $475,000 0.0% $240 / Sq Ft
05/21/2019 05/21/19 For Sale $475,000 +4.4% $240 / Sq Ft
05/20/2019 05/20/19 Pending -- -- --
04/10/2019 04/10/19 Off Market $455,000 -- --
02/21/2019 02/21/19 Pending -- -- --
01/23/2019 01/23/19 Pending -- -- --
01/14/2019 01/14/19 For Sale $475,000 +18.8% $240 / Sq Ft
05/27/2016 05/27/16 Sold $400,000 -8.0% $202 / Sq Ft
04/20/2016 04/20/16 Pending -- -- --
03/02/2016 03/02/16 For Sale $435,000 0.0% $220 / Sq Ft
07/03/2014 07/03/14 Rented $840 0.0% --
06/06/2014 06/06/14 Off Market $840 -- --
04/17/2014 04/17/14 For Rent $840 +12.0% --
05/14/2012 05/14/12 Rented $750 -6.3% --
05/10/2012 05/10/12 Under Contract -- -- --
04/01/2012 04/01/12 For Rent $800 -- --
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 $266 $2,707 $2,707 --
2024 $265 $2,578 $2,578 --
2023 $265 $8,520 $8,520 $0
2022 $257 $6,400 $6,400 $0
2021 $257 $5,580 $5,580 $0
2020 $254 $5,100 $5,100 $0
2019 $240 $4,080 $4,080 $0
2018 $233 $3,950 $3,950 $0
2017 $228 $3,430 $3,430 $0
2016 $220 $3,070 $3,070 $0
2015 $207 $2,680 $2,680 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5406988

Arizona Regional Multiple Listing Service (ARMLS)

APN: 141-61-062