NOT LISTED FOR SALE

Estimated Value: $470,730 - $653,000

-- Bed
-- Bath
3,528 Sq Ft
$155/Sq Ft Est. Value

Last Sold June 08, 2018

Last sale price $283,000 $80 Per Sq Ft

Est. 93% increase in value since last sale

Current estimated payment $3,156/month

8 Days on Market

Highlights

  • Wood Flooring
  • Cooling Available
  • 1-minute walk to Eagles Park
  • Franklin at Brimhall Elementary School Rated A
  • Individual Controls for Heating

About This Home

As of June 2018

Great opportunity to purchase 4 Plex in the heart of Mesa. High occupancy; great cash flow and appreciation opportunity!
Same floor plan in 4 units = ease of maintenance and repair. 2 Bed / 1 Bath units. Upgraded with tile & wood laminate floors and granite counter tops in 2010. Efficient and durable block construction. Facilities for coin laundry in building! (complex also has laundry room) Separately metered for electric; City of Mesa water. Covered parking for tenants.
Across the street from new Eagles Park and Community Center and steps to Lowell Elementary School. Walk to light rail! Close to Benedictine College, NAU East Valley, and employment/shopping/entertainment opportunities in downtown Mesa.

Last Listed By

Jacob Beeson

Beehive Property Management, LLC License #BR522792000 Listed on: 04/13/2018

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,144

Year Built

  • Built in 1983

Lot Details

  • 6,795

Home Design

  • Composition Roof
  • Block Exterior
  • Stucco

Flooring

  • Wood
  • Carpet
  • Concrete
  • Ceramic Tile

Parking

  • 8 Parking Spaces
  • 4 Covered Spaces

Schools

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

Utilities

  • Cooling Available
  • Individual Controls for Heating
  • Master Water Meter

Listing and Financial Details

  • Tenant pays for electricity
  • The owner pays for trash collection, water, sewer, landscaping
  • Assessor Parcel Number 138-29-053-A

Community Details

Overview

  • 4 Units
  • Building Dimensions are 104.75 x 65
  • Malibu Manor Subdivision

Building Details

  • Operating Expense $14,398
  • Gross Income $24,409
  • Net Operating Income $11,160

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,144

Year Built

Built in 1983

Lot Details

0

Listing Details

  • Cross Street: HORNE & MAIN ST;
  • Property Type: Multiple Dwellings
  • Zoning: MULTI
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1983
  • Tax Year: 2017
  • Directions: South to 3rd Ave. Property on Northwest Corner of 3rd Ave and Horne.
  • Road Surface Type: Asphalt
  • Professional Management Expense: 2099.5
  • Subdivision Name: Malibu Manor
  • Tax Parcel Letter: A
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

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

Exterior Features

  • Disclosures: Other (See Remarks)
  • Construction Type: Stucco, Block, Slump Block
  • Roof: Composition
  • Construction:Block: Yes
  • Construction:Slump Block: Yes

Garage/Parking

  • Total Covered Spaces: 4.0
  • Parking Features: >1 Space Per Unit
  • Attached Garage: No
  • Open Parking Spaces: 4.0
  • Total Parking Spaces: 8.0
  • General Property Description:Covered Parking Spcs: 4.0
  • General Property Description:Uncvrd Parking Spcs: 4.0
  • General Property Description:Total Parking Spcs: 8.0
  • Parking:_greater_1 Space Per Unit: Yes

Utilities

  • Electric: SRP, City Electric, Individual Meter
  • Cooling: Electric, Individual
  • Heating: Individual, Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise, Master Meter
  • Heating:Electric: Yes
  • Heating:Individual: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Exterior Amenities:Cable TV Available: Yes
  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Interior Amenities:Mini Blinds: Yes
  • Community Amenities:No Pool: Yes
  • Interior Amenities:Unfurnished: Yes

Fee Information

  • Annual Water Sewer Expense: 1647.0

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: 104.75 x 65
  • Additional Parcels: No
  • Parcel #: 138-29-053-A

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Tenant Pays: Electricity
  • Number Of Units Total: 4
  • Electric Expense: 907.33
  • Annual Gross Income: 24409.08
  • Insurance Expense: 1000.0
  • Maintenance Expense: 7459.54
  • Property Net Operating Income: 11160.41
  • Annual Operating Expense: 14397.57
  • Vacancy Allowance Rate: 0.03

Tax Info

  • Tax Annual Amount: 1144.2
  • Tax Book Number: 138.00
  • Tax Lot: 0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 13, 2018
Closed on
May 15, 2018
Sold by
Tang Xiaozhao and Qiu Jian
Bought by
East Valley Living Llc
Seller's Agent
Jacob Beeson
Beehive Property Management, LLC
Buyer's Agent
Jacob Beeson
Beehive Property Management, LLC
List Price
$279,900
Sold Price
$283,000
Premium/Discount to List
$3,100
1.11%
Total Days on Market
8
Current Estimated Value
$546,683

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$263,683
Avg. Annual Appreciation
10.34%
Original Mortgage
$198,100
Interest Rate
4.75%
Mortgage Type
Adjustable Rate Mortgage/ARM

Purchase Details

Closed on
Apr 22, 2010
Sold by
Bakerson Llc
Bought by
Tang Xiaozhao and Qiu Jian

Purchase Details

Closed on
Apr 21, 2010
Sold by
Brandory Investments Llc
Bought by
Bakerson Llc

Purchase Details

Closed on
Apr 16, 2010
Sold by
Lin Wen
Bought by
Tang Xiaozhao

Purchase Details

Closed on
Jan 15, 2010
Sold by
Koelsch Michael Anthony
Bought by
Cotterkey Growth Fund Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$62,400
Interest Rate
4.78%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Jan 7, 2010
Sold by
The Cotterkey Growth Fund Llc
Bought by
Brandory Investments Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$62,400
Interest Rate
4.78%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Jul 9, 2005
Sold by
Bassett William and Bassett Elsie
Bought by
Koelsch Michael

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$268,000
Interest Rate
3%
Mortgage Type
Negative Amortization

Purchase Details

Closed on
Apr 14, 2004
Sold by
Harmer Joseph E and Harmer Christina
Bought by
Bassett William and Bassett Elsie

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$174,000
Interest Rate
5.37%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 18, 2002
Sold by
Olson George F
Bought by
Harmer Joseph E and Harmer Christina

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$157,600
Interest Rate
5.86%
Mortgage Type
New Conventional

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
East Valley Living Llc $283,000 Grand Canyon Title Agency
Tang Xiaozhao $99,500 Security Title Agency
Bakerson Llc -- Security Title Agency
Tang Xiaozhao -- Security Title Agency
Cotterkey Growth Fund Llc $83,201 Title Management Agency Of A
Brandory Investments Llc $83,201 Title Management Agency Of A
Koelsch Michael $335,000 Capital Title Agency Inc
Bassett William $232,000 Land Title Agency Of Az Inc
Harmer Joseph E $197,000 Security Title Agency
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open East Valley Living Llc $2,800,000
Closed East Valley Living Llc $1,510,000
Closed East Valley Living Llc $198,100
Previous Owner Brandory Investments Llc $62,400
Previous Owner Koelsch Michael $268,000
Previous Owner Bassett William $174,000
Previous Owner Harmer Joseph E $157,600
Closed Harmer Joseph E $39,400
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/08/2018 06/08/18 Sold $283,000 +1.1% $80 / Sq Ft
05/17/2018 05/17/18 Price Changed $279,900 0.0% $79 / Sq Ft
05/10/2018 05/10/18 For Sale $279,900 0.0% $79 / Sq Ft
05/10/2018 05/10/18 Price Changed $279,900 0.0% $79 / Sq Ft
04/21/2018 04/21/18 Pending -- -- --
04/13/2018 04/13/18 For Sale $279,900 -- $79 / Sq Ft
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 $1,333 $13,584 -- --
2024 $1,344 $12,937 -- --
2023 $1,344 $31,280 $5,800 $25,480
2022 $1,316 $34,170 $6,830 $27,340
2021 $1,332 $28,980 $5,790 $23,190
2020 $1,315 $26,450 $5,290 $21,160
2019 $1,229 $21,430 $4,280 $17,150
2018 $1,179 $21,700 $4,340 $17,360
2017 $1,144 $19,120 $3,820 $15,300
2016 $1,123 $18,100 $3,620 $14,480
2015 $1,055 $13,280 $2,650 $10,630
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5752934

Arizona Regional Multiple Listing Service (ARMLS)

APN: 138-29-053A