1138 S Meridian Road -, Mesa, AZ 85208 (MLS# 6769202)

1138 S Meridian Road -, Mesa, AZ 85208

$1,750,000

Property Type: Land Lot Size (sq. ft.): 182,967 Status: Closed

Current Price: $1,750,000 List Date: 10/10/2024 Last Modified: 10/19/2024

Description

Prime development opportunity!! Recently re-zoned from RS-42 to RM-3 PAD, the property is approved for 72 garden-style apartment units across three buildings, offering a mix of 1 BD, 2 BD, and 3 BD units. The location is ideal, with proximity to Eastmark, Mesa-Gateway Airport, and major healthcare employers. The area boasts strong rental demand and sale values for new residential housing, supported by an annual household income of over $80,000 within a 1-mile radius.

More Information MLS# 6769202

Contract Information

Type: Exclusive Right To Sell For Sale or Lease?: Sale Current Price: $1,750,000 Sold Price: $1,750,000 Status: Closed List Date: 2024-10-10

Location, Tax & Legal

Lot #: - Assessor's Map #: 79 Assessor's Parcel #: 425 Add'l Parcels: No Tax Municipality: Mesa Taxes: 1328.64 House Number: 1138 Compass: S Street Name: Meridian St Suffix: Road City/Town Code: Mesa State/Province: AZ Zip Code: 85208 County Code: Maricopa Assessor Number: 220-79-425 Tax Year: 2023

General Property Description

Apx Total Acres: 4.2 Apx Total Acres G/N: G Price Per Acre: 514285.71 Apx SqFt: 182967 Price Per SqFt: 11.81 Apx SqFt G/N: G Lot Size Dimensions: See County Assessor Zoning: RM-3 PAD

Legal Info

Range: 7E Section: 25 Township: 1N Lot Number: -

Special Listing Cond

N/A: 1

Pmt & Rate Info

Equity: 2160000 Total Owed: 0

Assoc/Prop Info

HOA Y/N: N PAD Fee Y/N: N Assessed Balance: 0 HOA 2 Y/N: N

Showing Notification Methods

Showing Service: Aligned Showings Text: 1 Phone Call: 1

Lockbox Type

None: 1

Existing Land Use

Other (See Rmks): 1

Zoned Presently

Planned Unit Devlp: 1 Other (See Rmks): 1

Potential Use

Multi-Family: 1 See Remarks: 1

Parcel Size

2.50 - 4.99 Acres: 1

Proposed Density

16 - 20 Units P/Acre: 1

Development Status

Raw Land: 1 See Remarks: 1

Water Source

City Franchise: 1

Sewer

Sewer - Public: 1

Electric

SRP: 1

Gas

City Gas: 1

Existing Structures

None: 1

Distance to Cable

Call Listing Office: 1

New Financing

Cash: 1 Conventional: 1 Seller Approve Terms: 1 1031 Exchange: 1 Other (See Rmks): 1

Distance to Phone

Call Listing Office: 1

Distance to Water

Call Listing Office: 1

Distance to Electric

Call Listing Office: 1

Distance to Gas

Call Listing Office: 1

Distance to Sewer

Call Listing Office: 1

Reports/Disclosures

ALTA Survey Alba: 1

Environmental

Phase I Available: 1

Sold Info

Loan Type: Cash Closing Cost Split: Normal - N Buyer Concession to Seller: 0 Buyer Concession $/%: % Seller Concession to Buyer: 0 Seller Concession $/%: %

Remarks Misc

Cross Street: E Southern Rd & S Meridian Rd Directions: Heading East on Southern, property is on your left. Geo Lat: 33.394001 Geo Lon: -111.581619

Status Change Info

Off Market Date: 2024-10-19 Under Contract Date: 2024-10-13 Close of Escrow Date: 2024-10-18 Sold Price: $1,750,000

Property Features

Special Listing Cond: N/A Existing Land Use: Other (See Rmks) Zoned Presently: Planned Unit Devlp; Other (See Rmks) Potential Use: Multi-Family; See Remarks Parcel Size: 2.50 - 4.99 Acres Proposed Density: 16 - 20 Units P/Acre Development Status: Raw Land; See Remarks Existing Structures: None Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: City Gas Distance to Cable: Call Listing Office Distance to Phone: Call Listing Office Distance to Water: Call Listing Office Distance to Electric: Call Listing Office Distance to Gas: Call Listing Office Distance to Sewer: Call Listing Office New Financing: Cash; Conventional; Seller Approve Terms; 1031 Exchange; Other (See Rmks) Environmental: Phase I Available Showing Notification Methods: Text; Phone Call Lockbox Type: None

Listing Office: Compass

Last Updated: October - 19 - 2024