2728 N SALEM, Mesa, AZ 85215
$880,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$880,000
Last Modified:
5/10/2025
Description
TERRIFIC INVESTMENT OPPORTUNITY! This 4 Unit property with all 2 bedroom units is coming in at 6.2% CAP Rate. 3 long term leases in place. 1 unit run as an Air BnB bringing in substantial cashflow with a professional manager keeping it consistently rented. Do Not Bother Tenants. Available to see property once in escrow.
More Information MLS# 6599277
Contract Info
Ownership: Fee Simple
Current Price: $880,000
Sold Price: $880,000
Status: Closed
List Date: 2023-08-31
Location, Tax & Legal
Assessor's Map #: 80
Legal Description (Abbrev): LOT 22 LOMA VISTA MCR 024424
Assessor's Parcel #: 401
Add'l Parcels: No
Tax Municipality: Mesa
Census Tract: 420206
Taxes: 2237
Legal: LOT 22 LOMA VISTA MCR 024424
Marketing Name: Loma Vista
House Number: 2728
Compass: N
Street Name: SALEM
St Suffix: --
City/Town Code: Mesa
State/Province: AZ
Zip Code: 85215
Zip4: 1459
County Code: Maricopa
Subdivision: LOMA VISTA
Assessor Number: 141-80-401
Tax Year: 2022
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 6
Lot Size Dimensions: 7860
Total # of Units: 4
Elementary School District: Mesa Unified District
High School District: Mesa Unified District
Year Built: 1985
Zoning: Multi Family
Legal Info
Range: 6E
Section: 2
Township: 1N
Lot Number: 22
Project Type
Four Plex: 1
Construction
Wood Frame: 1
Const - Finish
Painted: 1
Stucco: 1
Roofing
Composition: 1
Floors
Vinyl: 1
Wood: 1
Ceramic Tile: 1
Carpet: 1
Sale Includes
Land & Building: 1
Income & Expenses
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 2237
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 68179
Pmt & Rate Info
Cap Rate: 6.29
Equity: 900000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Text: 1
Email: 1
Phone Call: 1
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Heat Pump: 1
Electric: 1
Cooling
Central Air: 1
Electric: 1
Heat Pump: 1
Exterior Amenities
Sidewalk(s): 1
Tenant Pays
Electricity: 1
Cable TV: 1
Appliances Included
Dishwasher: 1
Disposal: 1
Microwave: 1
Refrigerator: 1
Free-Standing Range: 1
Washer/Dryer: 1
W/D Hookup: 1
Road Access Type
Dedicated Street: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Master Meter: 1
Sewer
Sewer - Public: 1
Parking Features
On Street: 1
>1 Space Per Unit: 1
Electric
SRP: 1
Individual Meter: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
New Financing
Conventional: 1
1031 Exchange: 1
Reports/Disclosures
Seller Prop Disc Stm: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 4
Avg Rent: 0
# Baths: 2
3 Bedrooms Units
Avg Rent: 0
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: Recker and McDowell
Directions: Just south of McDowell on Salem.
Geo Lat: 33.46538
Geo Lon: -111.703167
Status Change Info
Off Market Date: 2023-09-06
Under Contract Date: 2023-09-06
Close of Escrow Date: 2023-10-04
Sold Price: $880,000
Income Expenses
Gross Annual Sch Inc: 68179
Net Operating Income: 56594
Property Features
Project Type: Four Plex
Construction: Wood Frame
Const - Finish: Painted; Stucco
Roofing: Composition
Floors: Vinyl; Wood; Ceramic Tile; Carpet
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Sidewalk(s)
Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer; W/D Hookup
Heating: Heat Pump
Cooling: Electric; Heat Pump; Central Air
Water Source: City Franchise; Master Meter
Sewer: Sewer - Public
Electric: SRP; Individual Meter
Gas: None
Parking Features: On Street; >1 Space Per Unit
Road Access Type: Dedicated Street
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity; Cable TV
Source of Fincl Data: Owner
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
New Financing: Conventional; 1031 Exchange
Environmental: None
Listing Office:
Commercial Property Connect
Last Updated: May - 10 - 2025
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