Listing ID6202314
Sold For$825,000
StatusClosed
Sold Date5/17/2021
CountyMaricopa
SubdivisionPIONEER REST LOTS 1-9 TR A
Year Built1960
Property TypeMultiple Dwellings
Six on Pioneer is a tenants dream! Well maintained, patio style building with five spacious 1 bedroom/1 bath units and one 2 bedroom, 1 bath. Property has so much value add opportunity with private yards, light remodels, and bringing rents to full market value. Property includes covered parking and storage units for the tenants and the owner. Irrigated lawn stays beautiful and green, even in the desert! Conveniently located within walking distance from light rail, elementary school and nearby entertainment, employment, and schools. Proforma cap rate at 5.9%.
*All figures are approximate, buyer to verify all MLS information. Do Not Disturb Tenants. Drive-by only!
County
Maricopa
Property Type
Multiple Dwellings
Subdivision
PIONEER REST LOTS 1-9 TR A
Year Built
1960
Zoning
RM-3
1 Bedroom Units # Baths
1
1 Bedroom Units Avg SqFt
660
2 Bedroom Units # Baths
1
2 Bedroom Units Avg SqFt
766
Cooling
Heat Pump
Cooling
yes
Efficiency Units # Baths
1
Heating
Heat Pump
Heating
yes
Community Features
No Pool
Country
US
Directions
Go W on E Broadway, Turn North on Pioneer, Property on Left
Elementary School
Franklin At Brimhall Elementary
Elementary School District
Mesa Unified District
General Property Description Elementary School
Franklin At Brimhall Elementary
General Property Description Elementary School District2
Mesa Unified District
General Property Description High School
Mesa High School
General Property Description High School District
Mesa Unified District
General Property Description Jr High School
Kino Junior High School
High School
Mesa High School
High School District
Mesa Unified District
Middle Or Junior School
Kino Junior High School
Postal City
Mesa
Township
1N
Water Source
Irrigation
Attached Garage
no
Construction Materials
Painted, Block
Covered Spaces
6
Electric
SRP
General Property Description # of Buildings
1
General Property Description Lot Size Dimensions
19,600
General Property Description Total # of Units
6
General Property Description Uncvrd Parking Spcs
2
Lot Size Dimensions
19,600
Number Of Buildings
1
Number Of Units Total
6
Open Parking Spaces
2
Parking Carport
1
Parking Features
Add'l Parking Avail, Street Parking, Common
Parking Total
8
Road Surface Type
Asphalt
Roof
Composition
Sewer
Public Sewer
Water Irrigation
1
Buyer Agency Compensation
3.00
Mls Status
Closed
Public Survey Range
5E
Public Survey Section
23
1 Bedroom Units Avg Rent
950
2 Bedroom Units Avg Rent
1200
Cap Rate
5.94
Disclosures
None
Efficiency Units Avg Rent
925
Gardener Expense
1800
Gross Income
66405
Gross Scheduled Income
69900
Insurance Expense
3200
Listing Terms
Conventional, 1031 Exchange
Maintenance Expense
3000
Net Operating Income
48375
Operating Expense
18033
Owner Pays
Trash Collection, Water, Sewer, Landscaping
Professional Management Expense
5500
Tax Annual Amount
213
Tax Book Number
138.00
Tax Lot
8
Tax Year
2020
Tenant Pays
Electricity, Cable TV
Water Sewer Expense
4320
Contact - Listing ID 6202314
Michael Bohlman
2425 S. Stearman Dr. Suite 120
Chandler, AZ 85286
Phone: 480-797-3800
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