$2,700,000
SOLD APR 5, 2022 RENTED FEB 14, 2025

750 E 1st Ave Mesa, AZ 85204

Temple Neighborhood
-- Bed
-- Bath
-- Sq Ft
7,841 Sq Ft Lot

Recently Sold

2% Below List Price

37 Days on Market

Highlights

  • Ceramic Tile Flooring
  • Central Air
  • Individual Controls for Heating
  • Franklin at Brimhall Elementary School Rated A
  • Ceiling Fan

About This Home

As of April 2022

This property is an investors dream! 16 units comprised of 9 studios and 7 1 bedroom apartments located 500' from Main Street and within the Opportunity Zone as well as Mesa's Form Based Code Overlay (T4). Roof was replaced in May 2019, new dual pane windows, the majority of the water heaters and HVAC units have been replaced in the last 4 years. All of the units have been upgraded with can lighting and ceiling fans. There are 22 parking spaces. The units rent well and quickly. There is a lot of room to raise rents.

Last Agent to Sell the Property

Chad Cluff

Cluff Real Estate LLC License #BR567582000 Listed on: 02/03/2022

Last Buyer's Agent

Kimberly Cole

Better Homes & Gardens Real Estate SJ Fowler License #SA533379000

Better Homes & Gardens Real Estate SJ Fowler

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,665

Year Built

  • Built in 1978

Home Design

  • Composition Roof
  • Foam Roof
  • Block Exterior
  • Stucco

Flooring

  • Ceramic Tile
  • Vinyl

Parking

  • 22 Open Parking Spaces
  • 22 Parking Spaces
  • Over 1 Space Per Unit
  • Free Parking

Utilities

  • Central Air
  • Individual Controls for Heating
  • Master Water Meter

Additional Features

  • Ceiling Fan
  • Additional Parcels

Listing and Financial Details

  • The owner pays for trash collection, water, sewer, landscaping
  • Legal Lot and Block 10 / 2
  • 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 $30,213
  • Gross Income $171,479
  • Net Operating Income $141,265

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,665

Year Built

Built in 1978

Lot Details

0

Listing Details

  • Cross Street: Main Street and Horne
  • Legal Info Range: 5E
  • Property Type: Multiple Dwellings
  • Zoning: MF or FBC T4
  • Number Of Buildings: 2
  • Ownership: Fee Simple
  • Year Built: 1978
  • Tax Year: 2021
  • Directions: Head West on Mesa's New Main Street to Horne, South on Horne and the property is on the North West corner of Horne and 1st AVE (500' South of Main Street).
  • Road Surface Type: Asphalt
  • Professional Management Expense: 6000.0
  • Subdivision Name: CHULA VISTA AMD LOTS 11-13 BLK 4
  • Cooling:Ceiling Fan(s): Yes
  • Cooling:Central Air: Yes
  • Roofing:Composition: Yes
  • Water Source City Franchise2: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Ceramic Tile, Vinyl
  • Appliances: Free-Standing Range, Refrigerator, W/D Hookup
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:WD Hookup: Yes
  • Appliances Included:Refrigerator2: Yes

Exterior Features

  • Disclosures: Seller Prop Disc Stm
  • Construction Type: Painted, Stucco, Block
  • Roof: Composition, Foam
  • Construction:Block: Yes

Garage/Parking

  • Parking Features: Free, >1 Space Per Unit
  • Attached Garage: No
  • Open Parking Spaces: 22.0
  • Total Parking Spaces: 22.0
  • General Property Description:Uncvrd Parking Spcs: 22.0
  • General Property Description:Total Parking Spcs: 22.0
  • Parking Features Free2: Yes
  • Parking Features >1 Space Per Unit: Yes

Utilities

  • Electric: City Electric, Individual Meter
  • Cooling: Central Air, Ceiling Fan(s), Electric, Individual
  • Heating: Individual, Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: Master Meter, City Franchise
  • Heating:Electric: Yes
  • Heating:Individual: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Exterior Amenities:Fenced3: Yes
  • Exterior Amenities:Security Light(s)3: Yes
  • Exterior Amenities:Partially Fenced: Yes
  • Exterior Amenities:Desert Landscaping: Yes
  • Interior Amenities:Unfurnished: Yes

Fee Information

  • Annual Water Sewer Expense: 10000.0

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
  • Number Of Units Total: 16
  • Annual Gross Income: 171478.8
  • Insurance Expense: 4948.0
  • Maintenance Expense: 6000.0
  • Property Net Operating Income: 141265.0
  • Annual Operating Expense: 30213.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 2665.0
  • Tax Block: 2
  • Tax Book Number: 138.00
  • Tax Lot: 10

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
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

  • K

    Seller Co-Listing Agent in 2025

    Ken Tasopulos

    Better Homes & Gardens Real Estate SJ Fowler

    (602) 264-8400

    9 Total Sales

    Ken Tasopulos
    Section Image
  • Chad Cluff

    Seller's Agent in 2022

    Chad Cluff

    Cluff Real Estate LLC

    (602) 882-0694

    6 in this area

    45 Total Sales

    Chad Cluff
    Section Image
  • Kimberly Cole

    Buyer's Agent in 2022

    Kimberly Cole

    Better Homes & Gardens Real Estate SJ Fowler

    (480) 799-4377

    1 in this area

    10 Total Sales

    Kimberly Cole
    Section Image

  • L

    Seller's Agent in 2014

    Lloyd Kaipainen

    Better Homes & Gardens Real Estate SJ Fowler

    Section Image

  • L

    Seller Co-Listing Agent in 2014

    Lois Kaipainen

    Income Property Shop

    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6350374

Arizona Regional Multiple Listing Service (ARMLS)
Arizona Maricopa County Mesa 85204 Temple

750 E 1st Ave, Mesa, AZ

This home is located at 750 E 1st Ave, Mesa, AZ 85204 and is currently priced at $2,700,000. This property was built in 1978. 750 E 1st Ave 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

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