NOT LISTED FOR SALE

740 E 3rd Ave Unit 24Units Mesa, AZ 85204

Temple Neighborhood
48 Beds
-- Bath
800 Sq Ft
1985 Built

Last Sold July 28, 2017

Last sale price $1,440,000 $1,800 Per Sq Ft

5 Days on Market

Highlights

  • Cooling Available
  • Ceramic Tile Flooring
  • Heat Pump System
  • Franklin at Brimhall Elementary School Rated A
  • Ceiling Fan
  • 3-minute walk to Eagles Park

About This Home

As of July 2017

Rare multi-family opportunity in downtown Mesa. Across the street from *new* Eagles Park and Community Center development, and next to $20m renovated Temple Square project. Steps from light rail and downtown Mesa re-development. Block construction means longevity and efficiency. Quick to rent. All units have same floor plan which makes repairs and maintenance easy. Onsite laundry with leased equipment; large maintenance room and several storage rooms.
Lots of upside including room to increase rents, add vending machines, etc.

Last Listed By

Jacob Beeson

Beehive Property Management, LLC License #BR522792000 Listed on: 06/07/2017

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $8,264

Year Built

  • Built in 1985

Home Design

  • Composition Roof
  • Block Exterior

Flooring

  • Carpet
  • Ceramic Tile
  • Vinyl

Parking

  • 48 Parking Spaces
  • 24 Covered Spaces
  • On-Street Parking

Schools

  • Lowell Elementary School
  • Kino Junior High School
  • Mesa High School

Utilities

  • Cooling Available
  • Heat Pump System
  • Individual Controls for Heating
  • Master Water Meter

Additional Features

  • Ceiling Fan
  • Additional Parcels

Listing and Financial Details

  • Tenant pays for electricity, cable TV
  • The owner pays for trash collection, water, landscaping
  • Tax Lot var
  • Assessor Parcel Number 138-29-059-E

Community Details

Overview

  • 6 Buildings
  • 24 Units
  • Building Dimensions are 61495
  • Malibu Manor Subdivision

Building Details

  • Operating Expense $83,490
  • Gross Income $136,800
  • Net Operating Income $90,688

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$8,264

Year Built

Built in 1985

Lot Details

0

Listing Details

  • Cross Street: Broadway & Stapley
  • Legal Info Range: 5E
  • Property Type: Multiple Dwellings
  • Zoning: fourplex
  • Number Of Buildings: 6
  • Ownership: Fee Simple
  • Year Built: 1985
  • Tax Year: 2016
  • Directions: West to Horne, North to property on Northwest corner of Broadway and Horne
  • Road Surface Type: Concrete, Curb(s) & Gutter(s)
  • Professional Management Expense: 10928.0
  • Subdivision Name: Malibu Manor
  • Tax Parcel Letter: E
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Carpet, Ceramic Tile, Vinyl
  • Appliances: F/S Oven/Range
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator2: Yes
  • Appliances Included:Dishwasher2: Yes
  • Appliances Included:Disposal2: Yes

Exterior Features

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

Garage/Parking

  • Total Covered Spaces: 24.0
  • Parking Features: >1 Space Per Unit, Street Parking
  • Attached Garage: No
  • Open Parking Spaces: 24.0
  • Total Parking Spaces: 48.0
  • General Property Description:Covered Parking Spcs: 24.0
  • General Property Description:Uncvrd Parking Spcs: 24.0
  • General Property Description:Total Parking Spcs: 48.0
  • Parking:Street Parking: Yes
  • Parking:_greater_1 Space Per Unit: Yes

Utilities

  • Electric: SRP, City Electric, Individual Meter
  • Cooling: Electric, Ceiling Fan(s)
  • Heating: Individual, Heat Pump
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise, Master Meter
  • Heating:Individual: Yes
  • Heating:Heat Pump2: Yes

Condo/Co-op/Association

  • Community Features: Other, See Remarks, No Pool

Association/Amenities

  • Exterior Amenities:Fenced3: Yes
  • Exterior Amenities:Cable TV Available: Yes
  • Interior Amenities:Mini Blinds: Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Partially Fenced: Yes
  • Exterior Amenities:Desert Landscaping: Yes
  • Exterior Amenities:Separate Storage: Yes
  • Interior Amenities:Unfurnished: Yes
  • Exterior Amenities:Other (See Remarks)58: Yes

Fee Information

  • Trash Expense: 7500.0
  • Annual Water Sewer Expense: 15434.0

Schools

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

Lot Info

  • Lot Size: 61495
  • Additional Parcels: Yes
  • Parcel #: 138-29-059-E

Multi Family

  • Owner Pays: Trash Collection, Water, Landscaping
  • Tenant Pays: Electricity, Cable TV
  • Number Of Units Total: 24
  • Electric Expense: 500.0
  • Annual Gross Income: 136800.0
  • Insurance Expense: 6000.0
  • Maintenance Expense: 16160.0
  • Property Net Operating Income: 90688.0
  • Annual Operating Expense: 83490.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 8264.0
  • Tax Book Number: 138.00
  • Tax Lot: var

Range of Values:

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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 Change Sq Ft Price
07/28/2017 07/28/17 Sold $1,440,000 0.0% $1,800 / Sq Ft
06/12/2017 06/12/17 Pending -- -- --
06/07/2017 06/07/17 For Sale $1,440,000 -- $1,800 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Jacob Beeson

    Seller's Agent in 2017

    Jacob Beeson

    Beehive Property Management, LLC

    (480) 981-1430

    1 in this area

    24 Total Sales

    Jacob Beeson
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5617294

Arizona Regional Multiple Listing Service (ARMLS)

Arizona Maricopa County Mesa 85204 Temple

740 E 3rd Ave Unit 24Units, Mesa, AZ

Homes for Sale in Mesa, AZ

This home is located at 740 E 3rd Ave Unit 24Units, Mesa, AZ 85204 since 07 June 2017. This property was built in 1985. 740 E 3rd Ave Unit 24Units is a home located in Maricopa County with nearby schools including Lowell 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