Listing ID6383283
Sold For$850,000
StatusClosed
Sold Date5/25/2022
CountyMaricopa
SubdivisionUNIVERSITY VILLA EAST
Year Built1985
Property TypeMultiple Dwellings
Great Investment! These units are All 2 Bed & 2 Baths with inside laundry and the Largest Floor Plans On Cicero! Rents are close to current Market Rents At: #101: $1300; #102: $1300; #201: $975; #202: $1025. Unit #201 & #202 are longer term tenants with Potential for an Extra $600 in Cash Flow per Month. Unit #101 & #102 are New Leases & #201 & #202 are Currently Month to Month! Newer water heaters in the last few years; (1) New AC unit installed in 2021! All units have a mixture of Tile & Wood Laminate or Tile and Carpet. The Roof is All Tile. The building also has Covered Parking! Washers and Dryers are inside each Unit and are included with the building. The Exterior of the Building was Recently Painted. Great Curb Appeal! Several pictures of all (4) units! Please Do NOT Disturb Tenants
County
Maricopa
Property Type
Multiple Dwellings
Subdivision
UNIVERSITY VILLA EAST
Year Built
1985
Zoning
RM-3
2 Bedroom Units # Baths
8
2 Bedroom Units Avg SqFt
957
Cooling
Heat Pump, Electric, Ceiling Fan(s)
Cooling
yes
Heating
Heat Pump, Electric
Heating
yes
Community Features
No Pool
Country
US
Directions
West to Los Alamos; North to Cicero; West to 2956 Cicero on the North Side of the Street
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, Master Meter
Attached Garage
no
Construction Materials
Painted, Stucco, Frame - Wood
Covered Spaces
4
Electric
SRP, Individual Meter
General Property Description # of Buildings
1
General Property Description Flood Zone
No
General Property Description Lot Size Dimensions
7999
General Property Description Total # of Units
4
General Property Description Uncvrd Parking Spcs
3
Lot Size Dimensions
7999
Number Of Buildings
1
Number Of Units Total
4
Open Parking Spaces
3
Parking Carport
1
Parking Features
Paved Parking, Street Parking, Common
Parking Total
7
Road Surface Type
Asphalt, Dedicated Street, Curb(s) & Gutter(s), Sidewalk(s)
Roof
Tile
Sewer
Public Sewer
Buyer Agency Compensation
2.50
Mls Status
Closed
Public Survey Range
6E
Public Survey Section
17
2 Bedroom Units Avg Rent
1150
Cap Rate
4.88
Disclosures
Seller Prop Disc Stm
Gardener Expense
1345
Gross Income
55200
Gross Scheduled Income
55200
Insurance Expense
1700
Listing Terms
No Carry, Conventional, 1031 Exchange
Maintenance Expense
2403
Net Operating Income
40289
Operating Expense
14911
Owner Pays
Trash Collection, Water, Sewer, Landscaping
Professional Management Expense
3560
Tax Annual Amount
2303
Tax Book Number
140.00
Tax Lot
4
Tax Year
2021
Tenant Pays
Electricity, Cable TV
Water Sewer Expense
3600
Contact - Listing ID 6383283
Michael Bohlman
2425 S. Stearman Dr. Suite 120
Chandler, AZ 85286
Phone: 480-797-3800
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