NOT LISTED FOR SALE
1 Bed
1 Bath
-- Sq Ft
1950 Built

Last Sold August 22, 2022

Last sale price $950,000

222 Days on Market

Highlights

  • Cooling System Mounted To A Wall/Window
  • Ceramic Tile Flooring
  • Window Unit Heating System
  • Franklin at Brimhall Elementary School Rated A

About This Home

As of August 2022

Now Updated! Fantastic Opportunity to Own 8 Units in East Mesa. This is Cash Flowing Asset with the Opportunity to Renovate One Down unit and Raise Rents. This property consists of two 1 bedroom units and Six Studio units. This is a stable apartment with tons of upside. DO NOT DISTURB TENANTS!

Last Agent to Sell the Property

Kelly Rojas

My Home Group Real Estate License #SA660297000 Listed on: 11/26/2021

Last Buyer's Agent

Adam Dresher

Joseph Bernard Investment RE License #SA684630000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,450

Year Built

  • Built in 1950

Home Design

  • Composition Roof
  • Foam Roof
  • Block Exterior

Flooring

  • Ceramic Tile Flooring

Parking

  • 8 Open Parking Spaces
  • 8 Parking Spaces

Utilities

  • Cooling System Mounted To A Wall/Window
  • Window Unit Heating System

Listing and Financial Details

  • The owner pays for electricity, trash collection, water, sewer, landscaping
  • Legal Lot and Block 6 / 17
  • Assessor Parcel Number 141-58-168

Community Details

Overview

  • 2 Buildings
  • 8 Units
  • Building Dimensions are 60x160
  • Desert Wells Amd Subdivision

Building Details

  • Operating Expense $19,067
  • Gross Income $72,926
  • Net Operating Income $53,858

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,450

Year Built

Built in 1950

Lot Details

0

Listing Details

  • Cross Street: Power and Main
  • Legal Info Range: 6E
  • Property Type: Multiple Dwellings
  • Zoning: LC
  • Number Of Buildings: 2
  • Ownership: Fee Simple
  • Year Built: 1950
  • Tax Year: 2020
  • Road Surface Type: Asphalt
  • Subdivision Name: DESERT WELLS AMD
  • Roofing:Composition: Yes
  • Water Source City Franchise2: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Ceramic Tile
  • Appliances: Free-Standing Range, Refrigerator, Microwave
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Microwave2: Yes
  • Appliances Included:Refrigerator2: Yes

Exterior Features

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

Garage/Parking

  • Parking Features: 1 Space/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

Utilities

  • Electric: SRP, Master Meter
  • Cooling: Window/Wall Unit
  • Heating: Window/Wall Unit(s)
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Electric Master Meter: Yes
  • Heating:WindowWall Unit(s): Yes

Condo/Co-op/Association

  • Community Features: Other

Fee Information

  • Annual Water Sewer Expense: 4530.41

Schools

  • Junior High Dist: Mesa Unified District

Lot Info

  • Lot Size: 60x160
  • Additional Parcels: No
  • Parcel #: 141-58-168

Multi Family

  • Owner Pays: Electricity, Trash Collection, Water, Sewer, Landscaping
  • Number Of Units Total: 8
  • Electric Expense: 8413.6
  • Annual Gross Income: 72925.8
  • Insurance Expense: 3323.0
  • Maintenance Expense: 450.0
  • Property Net Operating Income: 53858.0
  • Annual Operating Expense: 19067.01
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 1450.0
  • Tax Block: 17
  • Tax Book Number: 141.00
  • Tax Lot: 6
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
08/22/2022 08/22/22 Sold $950,000 -2.6% --
06/30/2022 06/30/22 Pending -- -- --
06/22/2022 06/22/22 For Sale $975,000 +2.6% --
05/04/2022 05/04/22 Off Market $950,000 -- --
02/17/2022 02/17/22 For Sale $975,000 0.0% --
02/07/2022 02/07/22 Pending -- -- --
01/15/2022 01/15/22 Price Changed $975,000 -2.5% --
11/20/2021 11/20/21 For Sale $1,000,000 0.0% --
03/28/2018 03/28/18 Rented $625 0.0% --
03/27/2018 03/27/18 Off Market $625 -- --
03/15/2018 03/15/18 For Rent $625 0.0% --
12/20/2017 12/20/17 Rented $625 0.0% --
12/17/2017 12/17/17 Under Contract -- -- --
10/23/2017 10/23/17 For Rent $625 0.0% --
09/09/2017 09/09/17 Off Market $625 -- --
08/31/2017 08/31/17 Sold $385,000 0.0% -- View Prior Sale
08/21/2017 08/21/17 Price Changed $625 0.0% $2 / Sq Ft
08/16/2017 08/16/17 Pending -- -- --
08/16/2017 08/16/17 For Rent $595 0.0% --
08/16/2017 08/16/17 For Sale $399,900 +3.9% --
03/31/2017 03/31/17 Sold $385,000 0.0% -- View Prior Sale
03/13/2017 03/13/17 Price Changed $385,000 0.0% --
03/12/2017 03/12/17 Pending -- -- --
12/22/2016 12/22/16 Price Changed $385,000 -1.3% --
11/28/2016 11/28/16 Price Changed $390,000 -2.3% --
09/21/2016 09/21/16 Price Changed $399,000 -2.7% --
08/23/2016 08/23/16 Price Changed $410,000 -2.4% --
08/09/2016 08/09/16 Price Changed $420,000 -1.2% --
07/14/2016 07/14/16 For Sale $425,000 -- --
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 $1,478 $14,978 -- --
2024 $1,482 $14,265 -- --
2023 $1,482 $52,460 $10,490 $41,970
2022 $1,452 $38,560 $7,710 $30,850
2021 $1,469 $32,510 $6,500 $26,010
2020 $1,450 $29,200 $5,840 $23,360
2019 $1,355 $24,760 $4,950 $19,810
2018 $1,300 $21,760 $4,350 $17,410
2017 $1,262 $20,510 $4,100 $16,410
2016 $1,238 $17,150 $3,430 $13,720
2015 $1,164 $15,070 $3,010 $12,060
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6323917

Arizona Regional Multiple Listing Service (ARMLS)