$540,000
SOLD APR 22, 2014 RENTED FEB 14, 2025
-- Bed
-- Bath
-- Sq Ft
7,841 Sq Ft Lot

Recently Sold

9% Below List Price

182 Days on Market

Highlights

  • Cooling Available
  • Ceramic Tile Flooring
  • Individual Controls for Heating
  • Franklin at Brimhall Elementary School Rated A

About This Home

As of April 2022

The 1st Ave Apts is comprised of 2 parcels and 2 buildings, housing 8 studios and 8 one bed units. All are individually metered for electric, all have ceramic tile and ACs. Occupancy stays 100%! Property is located in central Mesa near several parks, the Arizona Temple & Mesa Jr High. Light Rail is under construction and will go out to Mesa Drive. Sold AS-IS.

Last Agent to Sell the Property

Lloyd Kaipainen

Better Homes & Gardens Real Estate SJ Fowler License #BR517153000 Listed on: 10/02/2013

Co-Listed By

Lois Kaipainen

Income Property Shop License #SA567276000

Last Buyer's Agent

Chad Cluff

Cluff Real Estate LLC License #BR567582000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,594

Year Built

  • Built in 1978

Home Design

  • Wood Frame Construction
  • Composition Roof
  • Stucco

Parking

  • 18 Open Parking Spaces
  • 18 Parking Spaces

Utilities

  • Cooling Available
  • Individual Controls for Heating

Additional Features

  • Ceramic Tile Flooring
  • Additional Parcels

Listing and Financial Details

  • Tenant pays for electricity, cable TV
  • The owner pays for trash collection, water, sewer, landscaping
  • Tax Lot 10
  • Assessor Parcel Number 138-28-079

Community Details

Overview

  • 2 Buildings
  • 16 Units
  • Building Dimensions are IRR
  • Chula Vista Amd Lots 11 13 Blk 4 Subdivision

Building Details

  • Operating Expense $26,534
  • Gross Income $63,840
  • Net Operating Income $37,306

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,594

Year Built

Built in 1978

Lot Details

0

Listing Details

  • Cross Street: Main Street/Horne
  • Legal Info Range: 5E
  • Property Type: Multiple Dwellings
  • Zoning: Multi
  • Number Of Buildings: 2
  • Ownership: Fee Simple
  • Year Built: 1978
  • Tax Year: 2013
  • Directions: South to 1st Ave - property is on the NWC of 1st Ave and Horne.
  • Road Surface Type: Asphalt
  • Professional Management Expense: 3828.0
  • Co List Office Mls Id: sjfl03
  • Co List Office Phone: 602-264-8400
  • Subdivision Name: Chula Vista AMD Lots 11-13 BLK 4
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Ceramic Tile
  • Appliances: F/S Oven/Range
  • Appliances Included:FS 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: >1 Space Per Unit
  • 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:_greater_1 Space Per Unit: Yes

Utilities

  • Electric: City Electric
  • 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: No Pool

Association/Amenities

  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Partially Fenced: Yes
  • Exterior Amenities:Desert Landscaping: Yes
  • Interior Amenities:Unfurnished: Yes

Fee Information

  • Annual Water Sewer Expense: 6036.0

Schools

  • Junior High Dist: Mesa Unified District

Lot Info

  • Lot Size: IRR
  • Additional Parcels: Yes
  • Parcel #: 138-28-079

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Tenant Pays: Electricity, Cable TV
  • Number Of Units Total: 16
  • Annual Gross Income: 63840.0
  • Insurance Expense: 2600.0
  • Maintenance Expense: 6676.0
  • Property Net Operating Income: 37306.0
  • Annual Operating Expense: 26534.0

Tax Info

  • Tax Annual Amount: 1594.0
  • Tax Book Number: 138.00
  • Tax Lot: 10

Range of Values:

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Sold Price
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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
02/14/2025 02/14/25 Rented $900 -2.7% --
11/14/2024 11/14/24 Price Changed $925 -2.6% $0 / Sq Ft
08/20/2024 08/20/24 Price Changed $950 -4.9% $0 / Sq Ft
06/08/2024 06/08/24 Price Changed $999 -0.1% $0 / Sq Ft
05/22/2024 05/22/24 For Rent $1,000 0.0% --
04/05/2022 04/05/22 Sold $2,700,000 -1.8% --
04/02/2022 04/02/22 Price Changed $2,750,000 0.0% --
03/11/2022 03/11/22 Pending -- -- --
02/17/2022 02/17/22 Pending -- -- --
02/02/2022 02/02/22 For Sale $2,750,000 +409.3% --
04/22/2014 04/22/14 Sold $540,000 -9.2% --
04/02/2014 04/02/14 Pending -- -- --
10/02/2013 10/02/13 For Sale $595,000 -- --
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5008224

Arizona Regional Multiple Listing Service (ARMLS)