1500 E DANA Avenue, Mesa, AZ 85204
$1,120,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$1,120,000
Last Modified:
2/02/2026
Description
Welcome to Seven on Dana. Situated two blocks south of the Main Street development corridor, this property is within walking distance to the light rail. Included in the listing are 2 parcels totaling 1.06 acres; the first parcel is a 7-unit complex (.634 acres) featuring 2 triplexes and a 2-bedroom house. Triplex mix includes one newly updated 3-bed/2 bath, three 2-bed units, a large 1-bed unit, and a studio. The City of Mesa may allow the option to develop and build up to 8 additional units on the second parcel of .43 acres. ProForma Cap Rate is estimated at 5.87%, based on market rents. Buyer to verify all MLS information, as facts and figures are approximate. Do Not Disturb Tenants. Drive-by only.
More Information MLS# 6197179
Contract Info
Ownership: Fee Simple
Current Price: $1,120,000
Sold Price: $1,120,000
Status: Closed
List Date: 2021-02-19
Location, Tax & Legal
Assessor's Map #: 11
Assessor's Parcel #: 36
Add'l Parcels: Yes
Tax Municipality: Mesa
Census Tract: 421602
Taxes: 1895
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 467.50' TH W 88.5' TH
Marketing Name: Seven on Dana
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
County Code: Maricopa
Subdivision: LOS RANCHITOS
Assessor Number: 138-11-036
Tax Year: 2020
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 14
Lot Size Dimensions: 148x314
Total # of Units: 7
Elementary School District: Mesa Unified District
High School District: Mesa Unified District
Elementary School: Longfellow Elementary School
Jr. High School: Poston Junior High School
High School: Mesa High School
Year Built: 1968
Zoning: RM-2
Legal Info
Range: 5E
Section: 24
Township: 1N
Lot Number: 8
Project Type
5 - 12 Units: 1
Other Type
House + Rental Units: 1
Construction
Block: 1
Brick: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Ceramic Tile: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Ins Exp: 3620
Annual Landscape Exp: 1200
Annual Maint Exp: 6000
Annual Mgmt Exp: 4503
Annual Trash Exp: 2500
Annual Wtr/Swr Exp: 4800
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 24518
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 90060
Pmt & Rate Info
Cap Rate: 5.87
Equity: 1120000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Phone Call: 1
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Electric: 1
Cooling
Ceiling Fan(s): 1
Electric: 1
Exterior Amenities
Green Landscaping: 1
Interior Features
Fire/Smoke Alarm(s): 1
Mini Blinds: 1
Tenant Pays
Electricity: 1
Cable TV: 1
Appliances Included
Refrigerator: 1
Free-Standing Range: 1
W/D Hookup: 1
Road Surface Type
Gravel: 1
Source of Fincl Data
Owner: 1
Projected Proforma: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
On Street: 1
>1 Space Per Unit: 1
Electric
SRP: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
New Financing
Conventional: 1
1031 Exchange: 1
Other (See Remarks): 1
Special
Owner/Agent: 1
Existing 1st Loan
Treat as Free&Clear: 1
Reports/Disclosures
Seller Prop Disc Stm: 1
Environmental
None: 1
Efficiency Units
# Efficiency Units: 1
Avg Rent: 800
Avg SqFt: 400
# Baths: 1
1 Bedroom Units
# 1 Bedroom Units: 1
Avg Rent: 1000
Avg SqFt: 700
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 4
Avg Rent: 1150
Avg SqFt: 800
# Baths: 1
3 Bedrooms Units
# 3 Bedroom Units: 1
Avg Rent: 1500
Avg SqFt: 1100
# Baths: 2
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Other
Closing Cost Split: Normal - N
Payment Type: Other
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: Stapley and Main
Directions: From the intersection of Stapley Dr & Main St, head south on Stapley for one block, then turn left onto Dana St, heading East for about half a mile. Property is on your left.
Geo Lat: 33.412968
Geo Lon: -111.79887
Status Change Info
Off Market Date: 2021-04-13
Under Contract Date: 2021-03-15
Close of Escrow Date: 2021-04-20
Sold Price: $1,120,000
Income Expenses
Gross Annual Sch Inc: 94800
Net Operating Income: 65698
Property Features
Project Type: 5 - 12 Units
Other Type: House + Rental Units
Construction: Block; Brick
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; Cable TV
Source of Fincl Data: Owner; Projected Proforma
Special: Owner/Agent
Showing Notification Methods: Phone Call
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
New Financing: Conventional; 1031 Exchange; Other (See Remarks)
Environmental: None
Listing Office:
Grace CRE
Last Updated: February - 02 - 2026
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