$845,000
PENDING

860 E Brown Rd Unit 25 Mesa, AZ 85203

Mesa Patios Neighborhood

Estimated payment $4,561/month

-- Bed
-- Bath
-- Sq Ft
-- Price per Sq Ft

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.

Listing Agent

Linda Gerchick

Gerchick Real Estate License #BR114848000 Listed on: 10/29/2025

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

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,653

Year Built

Built in 1980

Lot Details

0

Listing Details

  • Cross Street: Brown & Stapley
  • Legal Info Range: 5E
  • Property Type: Multiple Dwellings
  • Zoning: RM4
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1980
  • Tax Year: 2025
  • Subdivision Name: SUN GARDENS REPLAT
  • Garage Yn: Yes
  • Cooling:Ceiling Fan(s): Yes
  • Roofing:Composition: Yes
  • Construction:Wood Frame: Yes
  • Water Source City Franchise2: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Carpet, Ceramic Tile, Wood
  • Appliances: Built-In Range, Disposal, Dishwasher, Refrigerator, Microwave, W/D Hookup
  • Appliances Included:Microwave2: Yes
  • Appliances Included:WD Hookup: Yes
  • Appliances Included:BI OvenRange: Yes
  • Appliances Included:Refrigerator2: Yes
  • Appliances Included:Dishwasher2: Yes
  • Appliances Included:Disposal2: Yes
  • Community Features:Pool2: Yes

Exterior Features

  • Disclosures: Seller Prop Disc Stm, APOD/Backup Avaible, Sch of Personal Prop
  • Construction Type: Wood Frame, Painted, Stucco
  • Roof: Composition

Garage/Parking

  • Total Covered Spaces: 4.0
  • Parking Features: Paved, Free, Add'l Parking Avail, Garage Door Opener
  • 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 Features Free2: Yes
  • Parking Features:Paved2: Yes
  • Parking Features:Garage: Yes
  • Parking Features Auto Door Opener: Yes

Utilities

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

Condo/Co-op/Association

  • Community Features: See Remarks, Pool

Association/Amenities

  • Exterior Amenities:Landscape Wtr System: Yes
  • Exterior Amenities:Green Landscaping: Yes
  • Exterior Amenities:Cable TV Available: Yes
  • Exterior Amenities:PatioBalcony: Yes
  • Exterior Amenities:Security Light(s)3: Yes
  • Exterior Amenities:Separate Storage: Yes

Schools

  • Junior High Dist: Mesa Unified District

Lot Info

  • Lot Size: 3,804
  • Additional Parcels: No
  • Parcel #: 137-09-338

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer
  • Number Of Units Total: 4
  • Annual Gross Income: 76695.96
  • Insurance Expense: 4834.0
  • Maintenance Expense: 1250.0
  • Property Net Operating Income: 60661.0
  • Annual Operating Expense: 13617.0
  • Vacancy Allowance Rate: 0.03

Tax Info

  • Tax Annual Amount: 1653.0
  • Tax Book Number: 137.00
  • Tax Lot: 18

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





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 $1,654 $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
Source: Public Records

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
Source: Arizona Regional Multiple Listing Service (ARMLS)

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
Source: Public Records

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: Public Records

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6939892

Arizona Regional Multiple Listing Service (ARMLS)

APN: 137-09-338