860 E Brown Rd Unit 25 Mesa, AZ 85203
Mesa Patios NeighborhoodEstimated payment $4,561/month
Highlights
- Wood Flooring
- Heated Community Pool
- Ceiling Fan
- Franklin at Brimhall Elementary School Rated A
- Cooling Available
- Heat Pump System
About This Home
Well-Maintained 4-Unit Asset | Favorable HOA Structure | Strong Upside Potential Discover an exceptional multifamily investment opportunity in the thriving East Valley at 360 E Brown Rd, Mesa AZ. Located within the desirable Sun Gardens Apartments community, this property combines stability, tenant appeal, and significant income growth potential—ideal for investors seeking dependable returns with low management demands. Property Overview
Originally built in 1980, this well-maintained four-plex features a diverse unit mix designed for long-term occupancy and operational flexibility: (3) Large 2-Bedroom / 1.5-Bathroom Townhome-Style Units (1) Spacious 3-Bedroom / 2-Bathroom Single-Level Unit (2) Two-Car Garages + Additional Assi Well-Maintained 4-Unit Asset | Favorable HOA Structure | Strong Upside Potential Discover an exceptional multifamily investment opportunity in the thriving East Valley at 360 E Brown Rd, Mesa AZ. Located within the desirable Sun Gardens Apartments community, this property combines stability, tenant appeal, and significant income growth potentialideal for investors seeking dependable returns with low management demands. Property Overview
Originally built in 1980, this well-maintained four-plex features a diverse unit mix designed for long-term occupancy and operational flexibility: (3) Large 2-Bedroom / 1.5-Bathroom Townhome-Style Units (1) Spacious 3-Bedroom / 2-Bathroom Single-Level Unit (2) Two-Car Garages + Additional Assigned / Unassigned Parking Each unit enjoys private fenced patios, individual washer and dryer hookups, and access to the well-kept community pool. HOA & Operating Advantages
HOA Includes: Water | Sewer | Trash | Landscaping RUBS In Place: Each tenant pays 1⁄4 of the HOA dues, ensuring efficient cost recovery and reduced owner expenses. Low-Maintenance Asset: The HOA's coverage of landscaping and core utilities streamlines management and enhances cash-flow consistency. Unit Highlights
Townhome Units: Two-story layouts with no neighbors above or below, featuring open great rooms, eat-in kitchens, and fenced patios bordering lush common areas. 3-Bedroom Unit (#3): Desirable single-level floor plan with AC, ceiling fans, washer/dryer hookups, and a private back patio perfect for barbecuing. Parking: Each unit has garage access with additional open spaces for residents and guests. Community Features
Refreshing Community Pool for tenant enjoyment Security Cameras for added peace of mind Professionally Maintained Landscaping included in HOA Convenient Location minutes from Loop 202, Downtown Mesa, schools, and major employers Investment Highlights
HOA Includes Water / Sewer / Trash / Landscaping - Reduced ownership burden RUBS Implemented - Each tenant reimburses 1⁄4 of the HOA dues Washer & Dryer in Each Unit - High tenant satisfaction and retention Ample Parking + Garages - Rare amenity in similar multifamily assets Rental Upside Potential - Market supports higher rents Desirable Unit Mix - Townhome-style 2-bedroom units + 1 spacious 3-bedroom Low-Maintenance Investment - Well-run HOA and established RUBS system Prime Mesa Location - Central access to employment, retail, and transit Summary
With a strong unit mix, favorable HOA structure, and RUBS system already in place, 360 E Brown Rd offers investors a turnkey, income-producing asset positioned for both stability and growth. Its combination of efficient operations, tenant-friendly amenities, and continued rental upside makes this a compelling opportunity in the heart of Mesa's thriving multifamily market. Buyer to verify all facts and figures Located in the rapidly growing East Valley submarket of Mesa, 360 E Brown Rd offers investors a property positioned in one of the most dynamic and high-demand rental corridors in the Phoenix Metro area. Mesa's blend of affordability, accessibility, and employment diversity continues to attract long-term tenants, making it a consistent performer in multifamily investment portfolios. Prime East Valley Location Nestled just east of Country Club Drive and minutes from Downtown Mesa, this property enjoys close proximity to major transportation routes including Loop 202, Loop 101, and U.S. 60, ensuring seamless connectivity throughout the Valley. The nearby Valley Metro Light Rail provides direct service to Tempe, ASU Main Campus, and Downtown Phoenix, expanding the appeal to students and commuters alike. Major Employers & Economic Drivers Mesa's economy is anchored by a diverse employment base spanning healthcare, education, aerospace, and technology. The property is conveniently located near several major employers such as: Banner Desert Medical Center - One of the largest hospitals in Arizona, providing over 3,000 jobs. Banner Baywood Medical Center and Banner Heart Hospital - Renowned medical facilities serving the East Valley's growing population. Boeing Defense, Space & Security - A leading aerospace manufacturer employing over 3,500 in nearby northeast Mesa. Phoenix-Mesa Gateway Airport - A major transportation and logistics hub that supports thousands of regional jobs. Mesa Community College and ASU Polytechnic Campus - Two strong education anchors attracting students and staff seeking nearby housing. Apple Data Command Center, Amazon Fulfillment Centers, and Meta's Mesa Data Center - Recent corporate investments further fueling rental housing demand. Healthcare & Education Access The property benefits from proximity to multiple top-rated healthcare facilities including Banner Children's at Desert, Mountain Vista Medical Center, and Arizona Spine & Joint Hospital. Educational institutions such as Mesa High School, Edison Elementary, and Mesa Community College serve the area, drawing both families and student renters. Lifestyle & Recreation Tenants enjoy easy access to Mesa's recreational amenities and retail conveniences. Nearby destinations include Riverview Park, Mesa Riverview Shopping Center, Tempe Marketplace, and Hohokam Stadium, the spring training home of the Oakland Athletics. For outdoor enthusiasts, the Usery Mountain Regional Park, Salt River, and Red Mountain trails offer abundant hiking, biking, and kayaking options. Cultural attractions such as the Mesa Arts Center, Arizona Museum of Natural History, and local breweries add to the area's community charm and lifestyle appeal. Market Strength Mesa continues to lead the East Valley in population and job growth, consistently ranking among Arizona's top-performing rental markets. The city's focus on revitalization, infrastructure expansion, and technology-driven employment hubs has created a long-term growth environment for investors. This steady demand ensures strong occupancy levels, rent stability, and the potential for continued NOI growth at 360 E Brown Rd.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $1,653
Year Built
- Built in 1980
Home Design
- Wood Frame Construction
- Composition Roof
- Stucco
Interior Spaces
- Ceiling Fan
Flooring
- Wood
- Carpet
- Ceramic Tile
Parking
- 8 Parking Spaces
- 4 Covered Spaces
- Free Parking
- Automatic Garage Door Opener
- Paved Parking
Utilities
- Cooling Available
- Heat Pump System
- Individual Controls for Heating
- Master Water Meter
Listing and Financial Details
- Tax Lot 18
- Assessor Parcel Number 137-09-338
Community Details
Overview
- 4 Units
- Building Dimensions are 3,804
- Sun Gardens Replat Subdivision
Recreation
- Heated Community Pool
Building Details
- Operating Expense $13,617
- Gross Income $76,696
- Net Operating Income $60,661
Map
Home Values in the Area
Average Home Value in this Area
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 | $1,654 | $16,763 | -- | -- |
| 2024 | $1,659 | $15,965 | -- | -- |
| 2023 | $1,659 | $63,320 | $12,660 | $50,660 |
| 2022 | $1,625 | $46,580 | $9,310 | $37,270 |
| 2021 | $1,644 | $40,660 | $8,130 | $32,530 |
| 2020 | $1,623 | $34,850 | $6,970 | $27,880 |
| 2019 | $1,516 | $28,780 | $5,750 | $23,030 |
| 2018 | $1,455 | $21,330 | $4,260 | $17,070 |
| 2017 | $1,412 | $18,110 | $3,620 | $14,490 |
| 2016 | $1,386 | $16,780 | $3,350 | $13,430 |
| 2015 | $1,302 | $15,100 | $3,020 | $12,080 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 10/30/2025 10/30/25 | Pending | -- | -- | -- | |
| 10/29/2025 10/29/25 | For Sale | $845,000 | +77.9% | -- | |
| 01/09/2019 01/09/19 | Sold | $474,900 | 0.0% | $480 / Sq Ft | View Prior Sale |
| 01/02/2019 01/02/19 | For Sale | $474,900 | 0.0% | $480 / Sq Ft | |
| 11/20/2018 11/20/18 | Pending | -- | -- | -- | |
| 11/16/2018 11/16/18 | For Sale | $474,900 | +124.5% | $480 / Sq Ft | |
| 08/28/2014 08/28/14 | Sold | $211,500 | +8.5% | $214 / Sq Ft | View Prior Sale |
| 07/21/2014 07/21/14 | Pending | -- | -- | -- | |
| 06/19/2014 06/19/14 | For Sale | $195,000 | -- | $197 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Interfamily Deed Transfer | -- | Chicago Title Insurance Co | |
| Warranty Deed | $470,000 | None Available | |
| Deed | -- | Security Title Agency Inc | |
| Warranty Deed | $474,900 | Security Title Agency Inc | |
| Warranty Deed | $211,500 | Old Republic Title Agency | |
| Warranty Deed | $148,500 | Old Republic Title Agency | |
| Cash Sale Deed | $120,000 | None Available | |
| Quit Claim Deed | -- | Chicago Title | |
| Grant Deed | -- | Fidelity National Title | |
| Warranty Deed | $375,000 | Fidelity National Title |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $346,000 | New Conventional | |
| Previous Owner | $332,430 | New Conventional | |
| Previous Owner | $158,625 | New Conventional | |
| Previous Owner | $174,800 | Purchase Money Mortgage | |
| Previous Owner | $174,800 | Unknown | |
| Previous Owner | $106,000 | Purchase Money Mortgage | |
| Previous Owner | $93,700 | Credit Line Revolving |
Source: Arizona Regional Multiple Listing Service (ARMLS)
MLS Number: 6939892
APN: 137-09-338
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