128 W 9TH Place N, Mesa, AZ 85201
$1,925,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$1,925,000
Last Modified:
12/24/2024
Description
Attractive, well kept 25 units, ground level, North/Central Mesa on 3 parcels (total tax $5911-2016). Structures built 1980 & 1988. Must sell together. There are 21-2 bedroom,1 bath, 780 sq ft; 3-1 bedroom, 1 bath & one huge 3 bedroom, 2 bath, 1400 sq ft with fire sprinklers. Stove and refrigerator in all units. Tenants pay electric & trash; each have own trash bin. Private yards. Near Cubs training Hohokam Stadium, Art Center & 10 mins to Sky Harbor. Buildings
joined by common walkways lined by mature trees. Covered parking for all tenants. 22 A/C's replaced & roof repairs within past 3-7 years. All units are tile floors. Leased laundry machines
bring approximate $3500 a yr. Market rents,long term tenants & low expenses = great ROI. Rent increase projected 2017 Owner Licensed AZ Realt
More Information MLS# 5592529
Contract Info
Ownership: Fee Simple
Current Price: $1,925,000
Sold Price: $1,925,000
Status: Closed
List Date: 2017-04-18
Location, Tax & Legal
Assessor's Map #: 22
Legal Description (Abbrev): LOT 6 EVERGREEN ACRES MCR 000536
Assessor's Parcel #: 11
Assessor Parcel Ltr: A
Add'l Parcels: Yes
Tax Municipality: Mesa
Census Tract: 421001
Taxes: 1567
Legal: LOTS 6,8 EVERGREEN ACRES MCR 000536
APN:137-22-011A, 137-22-014D, 137-22-014C
Marketing Name: Evergreen Acres
Map Code/Grid: Q39
House Number: 128
Compass: W
Street Name: 9TH
St Suffix: Place
St Dir Sfx: N
City/Town Code: Mesa
State/Province: AZ
Zip Code: 85201
Zip4: 4200
County Code: Maricopa
Subdivision: EVERGREEN ACRES
Assessor Number: 137-22-011-A
Tax Year: 2016
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 0
Lot Size Dimensions: 248.68 W X 300.90 L
Total # of Units: 25
Elementary School District: Mesa Unified District
High School District: Mesa Unified District
Elementary School: Eisenhower Center For Innovation
Jr. High School: Kino Junior High School
High School: Westwood High School
Year Built: 1988
Zoning: R-2
Legal Info
Range: 5E
Section: 15
Township: 1N
Lot Number: 6
Project Type
25 - 50 Units: 1
Construction
Other: 1
Const - Finish
Painted: 1
Stucco: 1
Roofing
Composition: 1
Floors
Ceramic Tile: 1
Sale Includes
Land & Building: 1
Personal Property: 1
Income & Expenses
Annual Elec Exp: 3800
Annual Gas Exp: 0
Annual Ins Exp: 7993
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 714
Annual Maint Exp: 7896
Annual Mgmt Exp: 12000
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 10500
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 5911
Operating Exp: 50381
Other Income: 3500
Vacancy Allowance: 0.05
Adjusted Gross Inc: 217417
Total Monthly Rental Income: 18780
Pmt & Rate Info
Cap Rate: 0.98
Down Payment: 0
Equity: 1925000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Community Features
No Pool: 1
Heating
Heat Pump: 1
Electric: 1
Cooling
Ceiling Fan(s): 1
Central Air: 1
Electric: 1
Heat Pump: 1
Individual: 1
Exterior Amenities
Green Landscaping: 1
Satellite Dish: 1
Cable TV Available: 1
Sidewalk(s): 1
Patio/Balcony: 1
Interior Features
Fire/Smoke Alarm(s): 1
Fire Sprinklers: 1
Mini Blinds: 1
Tenant Pays
Electricity: 1
Trash Collection: 1
Cable TV: 1
Appliances Included
Disposal: 1
Refrigerator: 1
Free-Standing Range: 1
Road Access Type
Dedicated Street: 1
Road Surface Type
Concrete: 1
Source of Fincl Data
Owner: 1
Projected Proforma: 1
Tax Return: 1
Water Source
City Franchise: 1
Master Meter: 1
Sewer
Sewer - Public: 1
Sewer-In & Connected: 1
Parking Features
1 Space/Unit: 1
Assigned: 1
Electric
City Electric: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
Landscaping: 1
Other: 1
See Remarks: 1
New Financing
Conventional: 1
1031 Exchange: 1
Special
Owner/Agent: 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
None: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 3
Avg Rent: 645
Avg SqFt: 660
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 21
Avg Rent: 745
Avg SqFt: 780
# Baths: 1
3 Bedrooms Units
# 3 Bedroom Units: 1
Avg Rent: 1050
Avg SqFt: 1400
# Baths: 2
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Conventional
Loan Years: 30
Closing Cost Split: Normal - N
Payment Type: Fixed
Buyer Concession to Seller: 0
Buyer Concession $/%: %
Seller Concession to Buyer: 0
Seller Concession $/%: %
Remarks Misc
Cross Street: Brown Rd and Center St
Directions: From 202 east, exit Country Club Rd,south to Brown Rd, east on Brown Rd to Center St., south to 9th Place, right(west) to property. Easy access from 101 or I-60 as well.
Geo Lat: 33.432851
Geo Lon: -111.834487
Status Change Info
Off Market Date: 2017-07-12
Under Contract Date: 2017-05-16
Close of Escrow Date: 2017-07-21
Sold Price: $1,925,000
Income Expenses
Gross Annual Sch Inc: 225360
Net Operating Income: 18780
Property Features
Project Type: 25 - 50 Units
Construction: Other
Const - Finish: Painted; Stucco
Roofing: Composition
Floors: Ceramic Tile
Sale Includes: Land & Building; Personal Property
Community Features: No Pool
Exterior Amenities: Green Landscaping; Satellite Dish; Cable TV Available; Sidewalk(s); Patio/Balcony
Interior Features: Fire/Smoke Alarm(s); Fire Sprinklers; Mini Blinds
Appliances Included: Free-Standing Range; Refrigerator; Disposal
Heating: Heat Pump
Cooling: Ceiling Fan(s); Electric; Heat Pump; Individual; Central Air
Water Source: City Franchise; Master Meter
Sewer: Sewer - Public; Sewer-In & Connected
Electric: City Electric
Gas: None
Parking Features: 1 Space/Unit; Assigned
Road Access Type: Dedicated Street
Road Surface Type: Concrete
Owner Pays: Water; Landscaping; Other; See Remarks
Tenant Pays: Electricity; Trash Collection; Cable TV
Source of Fincl Data: Owner; Projected Proforma; Tax Return
Special: Owner/Agent
Existing 1st Loan: Treat as Free&Clear
Existing 1st Loan Type: Not Applicable
Existing 1st Loan Terms: Not Applicable
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Loan Type: Not Applicable
Existing 2nd Loan Terms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Loan Type: Not Applicable
Existing 3rd Loan Terms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional; 1031 Exchange
Environmental: None
Documents
Executive Summary Flyer ›
Listing Office:
Casa Mia Realty
Last Updated: December - 24 - 2024
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