1829 E BROADWAY Road, Mesa, AZ 85204

$1,050,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $1,050,000 Last Modified: 7/18/2017

Overview

Description

Park Ridge is a 14-unit garden-style apartment community located in a desirable north Mesa neighborhood. Built in 1972, the property is made of wood frame and stucco construction with flat roofs and is individually-metered for electricity. The property has a unit mix consisting of one and two-bedroom floor plans that are spacious, well designed and average approximately 767 square feet. Interior unit features include fully appointed kitchens with full-size electric appliances, ceramic tile flooring, vertical blinds, and ceiling fans.

Listing Details MLS# 5588970

Location, Tax & Legal

Map Code/Grid
R39
House Number
1829
Compass
E
Street Name
BROADWAY
St Suffix
Road
City/Town Code
Mesa
State/Province
AZ
Zip Code
85204
Zip4
2450
Country
US
County Code
Maricopa
Subdivision
REPLAT OF PARK RIDGE OF MESA AMD
Assessor Number
139-01-144
Tax Year
2016
Assessor's Map #
1
Legal Description (Abbrev)
LOT 39 REPLAT OF PARK RIDGE OF MESA AMD MCR 009609
Assessor's Parcel #
144
Add'l Parcels
No
Tax Municipality
Mesa
Census Tract
421802
Taxes
3027.14
Legal
LOT 39 REPLAT OF PARK RIDGE OF MESA AMD MCR 009609
Marketing Name
Park Ridge

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
126' x 139.11' x 146' x 119.11'
Year Built
1972
Uncvrd Parking Spcs
6
Total # of Units
14
# of Buildings
3
Zoning
RM-4
Elementary School District
Mesa Unified District
High School District
Mesa Unified District

Status Change Info

Off Market Date
2017-05-11
Under Contract Date
2017-05-11
Close of Escrow Date
2017-06-29

Legal Info

Township
1N
Range
5E
Section
25
Lot Number
39

More Information

Income Expenses

Gross Annual Sch Inc
137400
Net Operating Income
79053

1 Bedroom Units

# 1 Bedroom Units
4
Avg Rent
675
Avg SqFt
560
# Baths
Yes

2 Bedroom Units

# 2 Bedroom Units
10
Avg Rent
875
Avg SqFt
850
# Baths
Yes

Contact Info

List Agent Home Phn
602-735-5634

Sold Info

Loan Type
Conventional
Payment Type
Fixed
Closing Cost Split
Normal - N
Buyer Concession $/%
$
Seller Concession $/%
$
Buyer Concession to Seller
0
Seller Concession to Buyer
0

Project Type

13 - 24 Units
Yes

Construction

Wood Frame
Yes

Const - Finish

Painted
Yes
Stucco
Yes

Roofing

Built-Up
Yes
Foam
Yes

Floors

Ceramic Tile
Yes

Sale Includes

Land & Building
Yes

Income & Expenses

Annual Elec Exp
0
Annual Gas Exp
0
Annual Ins Exp
0
Annual Land Lse Exp
0
Annual Landscape Exp
0
Annual Legal & Acctg
0
Annual Maint Exp
0
Annual Mgmt Exp
0
Annual Trash Exp
0
Annual Wtr/Swr Exp
0
Owner Association
No
Annual Ownr Asoc Fee
0
Annual PAD Fee
0
Annual Rplcmnt Rsrvs
0
Annual Other Expense
0
Operating Exp
3027.14
Other Income
1400
Vacancy Allowance
0.1
Adjusted Gross Inc
124920

Pmt & Rate Info

Cap Rate
7.53
Down Payment
315000
Equity
1050000
Down Payment %
30
Monthly Payments
0
Total Owed
0
Assessment Balance
0

Payment Includes

Principal
Yes

Community Features

No Pool
Yes

Heating

Individual
Yes

Cooling

Electric
Yes
Individual
Yes

Exterior Amenities

Desert Landscaping
Yes

Interior Features

Unfurnished
Yes
Vertical Blinds
Yes

Tenant Pays

Electricity
Yes

Appliances Included

Refrigerator
Yes
Free-Standing Range
Yes

Road Surface Type

Asphalt
Yes

Source of Fincl Data

Owner
Yes

Water Source

City Franchise
Yes

Sewer

Sewer - Public
Yes

Parking Features

1 Space/Unit
Yes

Electric

Individual Meter
Yes

Gas

SW Gas
Yes

Owner Pays

Water
Yes
Gas
Yes

New Financing

Conventional
Yes

Existing 1st Loan

Conventional
Yes

Existing 1st Loan Type

Not Applicable
Yes

Existing 1st Loan Terms

Not Applicable
Yes

Existing 2nd Loan

Treat as Free&Clear
Yes

Existing 2nd Loan Type

Not Applicable
Yes

Existing 2nd Loan Terms

Not Applicable
Yes

Existing 3rd Loan

Treat as Free&Clear
Yes

Existing 3rd Loan Type

Not Applicable
Yes

Reports/Disclosures

None
Yes

Existing 3rd Loan Terms

Not Applicable
Yes

Environmental

None
Yes

Existing Othr Ln Trm

Not Applicable
Yes

Efficiency Units

Avg Rent
0

3 Bedrooms Units

Avg Rent
0

4 Bedrooms Units

Avg Rent
0

Property Features

Project Type: 13 - 24 Units Construction: Wood Frame Const - Finish: Painted; Stucco Roofing: Built-Up; Foam Floors: Ceramic Tile Sale Includes: Land & Building Payment Includes: Principal Community Features: No Pool Exterior Amenities: Desert Landscaping Interior Features: Unfurnished; Vertical Blinds Appliances Included: Free-Standing Range; Refrigerator Heating: Individual Cooling: Electric; Individual Water Source: City Franchise Sewer: Sewer - Public Electric: Individual Meter Gas: SW Gas Parking Features: 1 Space/Unit Road Surface Type: Asphalt Owner Pays: Water; Gas Tenant Pays: Electricity Source of Fincl Data: Owner Existing 1st Loan: Conventional 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 Environmental: None
IDX
Listing Office: CBRE, Inc
Last Updated: July - 18 - 2017
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