Listing ID6251214
Sold For$365,000
StatusClosed
Sold Date10/20/2021
CountyMaricopa
Year Built1955
Property TypeMultiple Dwellings
Great investment opportunity!! 2 separate homes on same lot, separate meters. Front home is 3bed/1bath 1021 sqft, newer kitchen cabinets, flooring, well maintained. NEW AC UNIT!! Front home has fenced backyard. Back home is 1bed/1bath 500 sqft, good condition. Nice sized lot, lots of parking space, NO HOA. Highly desirable area located in Mesa historic district near schools, shopping, new ASU campus, downtown Mesa and light rail. Townhomes/Condos are being built on this street. Check out the information provided under the documents tab. Investors can expect to walk into a cap rate over 6%. Remodeled homes in this area are selling for $335/sqft or up to $1700/month for rent. Mesa is investing millions to re-invent Mesa.
County
Maricopa
Property Type
Multiple Dwellings
Year Built
1955
Zoning
[RM-3] Resident
1 Bedroom Units # Baths
1
1 Bedroom Units Avg SqFt
500
3 Bedrooms Units # Baths
1
3 Bedrooms Units Avg SqFt
1021
Cooling
Central A/C
Cooling
yes
Heating
Natural Gas
Heating
yes
Community Features
No Pool
Country
US
Directions
From Main st, head North on Extension and take a right onto Pepper Pl, head East and the home is 10 homes down on the left hand side.
Elementary School District
Mesa Unified District
General Property Description Elementary School District2
Mesa Unified District
General Property Description High School District
Mesa Unified District
High School District
Mesa Unified District
Postal City
Mesa
Township
1N
Water Source
City Franchise
Attached Garage
no
Construction Materials
Brick Veneer, Painted, Block, Frame - Wood
Electric
City Electric
General Property Description # of Buildings
2
General Property Description Lot Size Dimensions
7841 square feet
General Property Description Total # of Units
2
General Property Description Uncvrd Parking Spcs
4
Lot Size Dimensions
7841 square feet
Number Of Buildings
2
Number Of Units Total
2
Open Parking Spaces
4
Parking Features
Paved Parking, >1 Space Per Unit
Parking Total
4
Road Surface Type
Asphalt, Sidewalk(s)
Roof
Composition
Sewer
Public Sewer
Mls Status
Closed
Public Survey Range
5E
Public Survey Section
21
1 Bedroom Units Avg Rent
1000
3 Bedrooms Units Avg Rent
1400
Cap Rate
7.22
Disclosures
None
Gross Income
30200
Gross Scheduled Income
30200
Insurance Expense
900
Listing Terms
Conventional, 1031 Exchange, FHA, VA Loan
Maintenance Expense
900
Net Operating Income
27785
Operating Expense
2415
Owner Pays
None
Tax Annual Amount
615
Tax Book Number
135.00
Tax Lot
21 E 50
Tax Year
2020
Tenant Pays
Trash Collection, Gas, Electricity, Water, Sewer, Cable TV
Contact - Listing ID 6251214
Michael Bohlman
2425 S. Stearman Dr. Suite 120
Chandler, AZ 85286
Phone: 480-797-3800
Data services provided by IDX Broker