Listing ID6400696
Price$729,999
StatusActive
CountyMaricopa
SubdivisionHIBBERT-ALLEN ACRES LOTS 8-20
Year Built1981
Property TypeMultifamily Residential
Property Sub TypeFour Plex
This Mesa Fourplex includes 2 occupied units and 2 vacant units. Unit 3 is being leased out for $1,000/month, expiring in 8-11-2022. The tenant is planning on renewing and has been notified that the rent will increase to $1,250/month. Unit 2 is being leased out for $1,250/month, expiring 3-1-2023. Unit 1 is vacant and will need kitchen counters, cabinets, and door frames installed as well as a fresh coat of paint before being leased out. Cabinets and Counter tops have been purchased and waiting in the unit to be installed. Unit 4 is vacant and will require just a fresh coat of painted before being leased out. There is additional opportunity to fully renovate the property to further increase rents to $1,500/month.
County
Maricopa
Property Sub Type
Four Plex
Property Type
Multifamily Residential
Subdivision
HIBBERT-ALLEN ACRES LOTS 8-20
Year Built
1981
Zoning
RM-4
2 Bedroom Units
4
2 Bedroom Units: Average SqFt
784
2 Bedroom Units: Number of Baths
1
Appliances Included
Disposal, F/S Oven/Range, Refrigerator, W/D Hookup
Cooling
Electric
Floors
Carpet, Other, Vinyl
Heating
Electric
Total Units
4
Construction
Frame - Wood
Covered Parking Spaces
6
Exterior Finish
Stucco
Lot Size Dimensions
125'x80'
Parking
>1 Space Per Unit, Add'l Parking Avail
Roads/Streets
Asphalt
Roofing
Built-Up, Comp Shingle
Total Parking Spaces
16
Country
USA
Cross Street
E. Broadway Rd. & Stapley Dr.
High School District Number
004 - Mesa Unified District
Lot Number
10
Map Code/Grid
R39
Range
5E
School District
004 - Mesa Unified District
Section
24
Township
1N
Community Amenities
No Pool
Electric
SRP
Entry Timestamp
2022-05-16T16:46:01+00:00
Gas
None
Marketing Name
Value Add Opportunity
Owner Association
No
Sewer
Sewer - Public
Vacancy Allowance
0.06
Water
City Franchise
2 Bedroom Units: Average Rent
1250
Adjusted Gross Income
56400
Annual Maintenance Expense
1836
Annual Management Expense
3600
Annual Other Expense
1092
Annual Water/Sewer Expense
3000
Contingency Type
No
Financial Data Source
Provided by Owner
Gross Annual Scheduled Income
60000
Net Operating Income
46633
New Financing
Conventional, VA
Operating Expense
10967
Owner Pays
Sewer, Trash Collection, Water
Sale Includes
Land & Building
Tax Municipality
Mesa
Taxes
1439
Tenant Pays
Electric
Contact - Listing ID 6400696
Michael Bohlman
2425 S. Stearman Dr. Suite 120
Chandler, AZ 85286
Phone: 480-797-3800
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