$392,000
SOLD MAR 28, 2016
-- Bed
-- Bath
3,979 Sq Ft
1984 Built

Recently Sold

$99 Per Sq Ft

2% Below List Price

19 Days on Market

Highlights

  • Cooling Available
  • Franklin at Brimhall Elementary School Rated A
  • Heat Pump System

About This Home

As of March 2016

It's the best one on the block! Excellent unit mix with a 3 bed/2 bath ''owner's'' unit with a garage! The other 3 units are all 2 bed/2 bath with covered parking! Nicely maintained! 100% occupied! Washer/dryer hookups in all units and two units include the washer/dryer! Great location near Riverview Mall and close to Downtown Mesa! Easy keeper/turn key! And the seller may carry! Buyer to verify all items during the due diligence period. NO HOA - defunct for decades!

Last Agent to Sell the Property

Lloyd Kaipainen

Better Homes & Gardens Real Estate SJ Fowler License #BR517153000 Listed on: 02/10/2016

Co-Listed By

Lois Kaipainen

Income Property Shop License #SA567276000

Last Buyer's Agent

Amy Nelson

Keller Williams Realty East Valley License #SA527250000

Keller Williams Realty East Valley

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,905

Year Built

  • Built in 1984

Home Design

  • Wood Frame Construction
  • Tile Roof
  • Built-Up Roof
  • Foam Roof
  • Block Exterior
  • Stucco

Parking

  • 1 Open Parking Space
  • 6 Parking Spaces
  • 5 Covered Spaces
  • Common or Shared Parking

Utilities

  • Cooling Available
  • Heat Pump System
  • Individual Controls for Heating

Listing and Financial Details

  • Tenant pays for cable TV
  • The owner pays for trash collection, water, sewer, landscaping
  • Tax Lot 7
  • Assessor Parcel Number 135-17-303

Community Details

Overview

  • 4 Units
  • Building Dimensions are irr
  • Heritage Estates Lot 1 15 Subdivision

Building Details

  • Gross Income $40,390
  • Net Operating Income $30,660

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,905

Year Built

Built in 1984

Lot Details

0

Listing Details

  • Cross Street: Alma School & Rio Salado
  • Legal Info Range: 5E
  • Property Type: Multiple Dwellings
  • Zoning: multi
  • Number Of Buildings: 1
  • Year Built: 1984
  • Tax Year: 2015
  • Directions: East to Revere, North to property on West side of street.
  • Road Surface Type: Asphalt
  • Co List Office Mls Id: sjfl03
  • Co List Office Phone: 602-264-8400
  • Subdivision Name: HERITAGE ESTATES LOT 1-15
  • Garage Yn: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator: Yes
  • Appliances Included:Dishwasher: Yes
  • Appliances Included:Disposal: Yes
  • Appliances Included:WasherDryer: Yes
  • Appliances Included:WD Hookup: Yes
  • Appliances Included:Other (See Remarks)56: Yes

Exterior Features

  • Disclosures: Seller Prop Disc Stm
  • Construction Type: Painted, Stucco, Block, Frame - Wood
  • Roof: Tile, Built-Up, Foam
  • Construction:Frame - Wood: Yes
  • Construction:Block: Yes

Garage/Parking

  • Total Covered Spaces: 5.0
  • Parking Features: Common
  • Attached Garage: No
  • Open Parking Spaces: 1.0
  • Total Parking Spaces: 6.0
  • General Property Description:Covered Parking Spcs: 5.0
  • General Property Description:Uncvrd Parking Spcs: 1.0
  • General Property Description:Total Parking Spcs: 6.0
  • Garage Details: Yes
  • Parking:Carport: Yes
  • Parking:_one_ SpaceUnit: Yes

Utilities

  • Electric: SRP
  • Cooling: Individual, Heat Pump, Electric
  • Heating: Individual, Heat Pump, Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes
  • Heating:Individual: Yes
  • Heating:Heat Pump2: Yes

Condo/Co-op/Association

  • Community Features: No Pool
  • Amenities: Other

Association/Amenities

  • Exterior Amenities:Green Landscaping: Yes
  • Exterior Amenities:Cable TV Available: Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Partially Fenced: Yes
  • Interior Amenities:Unfurnished: Yes

Fee Information

  • Annual Water Sewer Expense: 4034.0

Lot Info

  • Lot Size: irr
  • Additional Parcels: No
  • Parcel #: 135-17-303

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Tenant Pays: Cable TV
  • Number Of Units Total: 4
  • Annual Gross Income: 40390.2
  • Insurance Expense: 1200.0
  • Maintenance Expense: 1049.0
  • Property Net Operating Income: 30660.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 1905.0
  • Tax Book Number: 135.00
  • Tax Lot: 7

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 10, 2016
Closed on
Mar 17, 2016
Sold by
Jd 860 Llc
Bought by
Skamper Llc
Seller's Agent
Lloyd Kaipainen
Better Homes & Gardens Real Estate SJ Fowler
Buyer's Agent
Amy Nelson
Keller Williams Realty East Valley
List Price
$399,000
Sold Price
$392,000
Premium/Discount to List
-$7,000
-1.75%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
9.53%
Original Mortgage
$295,500
Outstanding Balance
$235,162
Interest Rate
3.65%
Mortgage Type
Seller Take Back
Estimated Equity
$679,820

Purchase Details

Closed on
Sep 8, 2008
Sold by
Lazo Genato A and Lazo Jeanne R
Bought by
Jd 860 Llc

Purchase Details

Closed on
Apr 7, 2005
Sold by
Lazo Genato A and Lazo Jeanne R
Bought by
Lazo Genato A and Lazo Jeanne R

Purchase Details

Closed on
Apr 18, 2002
Sold by
Lazo Jeanne R and Chapman Jeanne R
Bought by
Lazo Genato A and Lazo Jeanne R

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$105,000
Interest Rate
7.08%
Source: Public Records

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Type Sale Price Title Company
Warranty Deed $392,000 Chicago Title Agency Inc
Cash Sale Deed $295,000 Chicago Title
Interfamily Deed Transfer -- Fidelity National Title
Interfamily Deed Transfer -- Security Title Agency
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $295,500 Seller Take Back
Previous Owner $105,000 No Value Available
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/17/2025 07/17/25 For Sale $880,000 +124.5% --
03/28/2016 03/28/16 Sold $392,000 -1.8% $99 / Sq Ft
02/29/2016 02/29/16 Pending -- -- --
02/10/2016 02/10/16 For Sale $399,000 -- $100 / 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 $2,406 $24,514 -- --
2024 $2,426 $23,347 -- --
2023 $2,426 $62,010 $12,400 $49,610
2022 $2,376 $50,810 $10,160 $40,650
2021 $2,405 $46,050 $9,210 $36,840
2020 $2,373 $43,180 $8,630 $34,550
2019 $2,218 $36,330 $7,260 $29,070
2018 $2,128 $32,600 $6,520 $26,080
2017 $2,065 $20,250 $4,050 $16,200
2016 $2,026 $19,330 $3,860 $15,470
2015 $1,905 $17,400 $3,480 $13,920
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5396664

Arizona Regional Multiple Listing Service (ARMLS)

APN: 135-17-303