1500 E DANA Avenue, Mesa, AZ 85204 (MLS# 6164274)

1500 E DANA Avenue, Mesa, AZ 85204

$905,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $905,000 Last Modified: 5/16/2025

Overview

Description

List price now includes 7 rental units on just over an acre. Two parcels included, 138-11-036 is .634 acre with 7 units and 138-11-038 is .43 acre that adds potential to build more units. This complex has stable tenants & is in a great location near Mesa development & new Light rail 1/4 mile away. There is a 2 bedroom house, 3 units with 2 bedrooms, 1 studio, 1 larger 1 bedroom unit & a completely updated 3 bedroom, 2 bath unit. Single level units make for lower maintenance & easy renting. These units are always rented & highly sought after. Numbers are based on actual rent with room for increase. Cap rate is at about 6% before price for land. Parcel 138-11-038, MLS #6164276 is grass to the west and MUST BE PURCHASED TOGETHER, but included in price. Drive by only. Please do not disturb

Listing Details MLS# 6164274

Location, Tax & Legal

Map Code/Grid: R39
House Number: 1500
Compass: E
Street Name: DANA
St Suffix: Avenue
City/Town Code: Mesa
State/Province: AZ
Zip Code: 85204
Zip4: 1272
Country: US
County Code: Maricopa
Subdivision: LOS RANCHITOS
Assessor Number: 138-11-036
Tax Year: 2020
Assessor's Map #: 11
Legal Description (Abbrev): LOS RANCHITOS TR 1 PT ARB LOT 8 BEG 183.50' E OF W LN ON S LN JOHNSON DR SD TR 1 TH E 88.5' TH S 46
Assessor's Parcel #: 36
Add'l Parcels: Yes
Tax Municipality: Mesa
Census Tract: 421602
Taxes: 1739
Legal: LOS RANCHITOS TR 1 PT ARB LOT 8 BEG 183.50' E OF W LN ON S LN JOHNSON DR SD TR 1 TH E 88.5' TH S 46
Marketing Name: 7 units plus extra land

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 148x314
Year Built: 1968
Uncvrd Parking Spcs: 14
Total # of Units: 7
# of Buildings: 2
Zoning: RM-2
Elementary School District: Mesa Unified District
High School District: Mesa Unified District

Remarks Misc

Cross Street: Stapley and Main
Directions: South on Stapley, West on Dana

Status Change Info

Off Market Date: 2020-12-26
Under Contract Date: 2020-12-24
Close of Escrow Date: 2020-12-31

Legal Info

Township: 1N
Range: 5E
Section: 24
Lot Number: 8

More Information

Income Expenses

Gross Annual Sch Inc: 67200
Net Operating Income: 47236

Efficiency Units

# Efficiency Units: Yes
Avg Rent: 550
Avg SqFt: 400
# Baths: Yes

1 Bedroom Units

# 1 Bedroom Units: Yes
Avg Rent: 700
Avg SqFt: 700
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: 4
Avg Rent: 787
Avg SqFt: 800
# Baths: Yes

3 Bedrooms Units

# 3 Bedroom Units: Yes
Avg Rent: 1200
Avg SqFt: 1100
# Baths: 2

Sold Info

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

Project Type

5 - 12 Units: Yes

Other Type

House + Rental Units: Yes

Construction

Block: Yes

Const - Finish

Painted: Yes

Roofing

Composition: Yes

Floors

Ceramic Tile: Yes

Sale Includes

Land & Building: Yes

Income & Expenses

Annual Ins Exp: 3620
Annual Landscape Exp: 1200
Annual Maint Exp: 6000
Annual Wtr/Swr Exp: 7800
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 20359
Other Income: 0
Vacancy Allowance: 0.02
Adjusted Gross Inc: 65856

Pmt & Rate Info

Cap Rate: 4.97
Equity: 949900
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0

Showing Notification Methods

No Notification Required to Show: Yes

Lockbox Type

None: Yes

Community Features

No Pool: Yes

Heating

Electric: Yes

Cooling

Ceiling Fan(s): Yes
Electric: Yes

Exterior Amenities

Green Landscaping: Yes

Interior Features

Fire/Smoke Alarm(s): Yes
Mini Blinds: Yes

Tenant Pays

Electricity: Yes

Appliances Included

Refrigerator: Yes
Free-Standing Range: Yes
W/D Hookup: Yes

Road Surface Type

Gravel: Yes

Source of Fincl Data

Owner: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

On Street: Yes
>1 Space Per Unit: Yes

Electric

SRP: Yes

Gas

None: Yes

Owner Pays

Water: Yes
Sewer: Yes
Trash Collection: Yes
Landscaping: Yes

New Financing

Conventional: Yes
1031 Exchange: Yes

Special

Owner/Agent: Yes

Existing 1st Loan

Treat as Free&Clear: Yes

Reports/Disclosures

Seller Prop Disc Stm: Yes

Environmental

None: Yes

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: 5 - 12 Units Other Type: House + Rental Units Construction: Block Const - Finish: Painted Roofing: Composition Floors: Ceramic Tile Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Green Landscaping Interior Features: Fire/Smoke Alarm(s); Mini Blinds Appliances Included: Free-Standing Range; Refrigerator; W/D Hookup Cooling: Ceiling Fan(s); Electric Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: None Parking Features: On Street; >1 Space Per Unit Road Surface Type: Gravel Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity Source of Fincl Data: Owner Special: Owner/Agent Showing Notification Methods: No Notification Required to Show Lockbox Type: None Existing 1st Loan: Treat as Free&Clear New Financing: Conventional; 1031 Exchange Environmental: None

Documents

Rent Roll ›

Commercial disclosure ›

Listing Office: DPR Realty LLC

Last Updated: May - 16 - 2025