302-312 S PIONEER, Mesa, AZ 85204

$825,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $825,000 Last Modified: 3/13/2025

Overview

Description

Six on Pioneer is a tenants dream! Well maintained, patio style building with five spacious 1 bedroom/1 bath units and one 2 bedroom, 1 bath. Property has so much value add opportunity with private yards, light remodels, and bringing rents to full market value. Property includes covered parking and storage units for the tenants and the owner. Irrigated lawn stays beautiful and green, even in the desert! Conveniently located within walking distance from light rail, elementary school and nearby entertainment, employment, and schools. Proforma cap rate at 5.9%. *All figures are approximate, buyer to verify all MLS information. Do Not Disturb Tenants. Drive-by only!

Listing Details MLS# 6202314

Location, Tax & Legal

Map Code/Grid
R39
House Number
302-312
Compass
S
Street Name
PIONEER
St Suffix
--
City/Town Code
Mesa
State/Province
AZ
Zip Code
85204
Zip4
2036
Country
US
County Code
Maricopa
Subdivision
PIONEER REST LOTS 1-9 TR A
Assessor Number
138-30-192
Tax Year
2020
Assessor's Map #
30
Legal Description (Abbrev)
LOT 8 PIONEER REST LOTS 1-9 TR A MCR 007716
Assessor's Parcel #
192
Add'l Parcels
No
Tax Municipality
Mesa
Census Tract
421501
Taxes
213
Legal
LOT 8 PIONEER REST LOTS 1-9 TR A MCR 007716
Marketing Name
Six on Pioneer

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
19,600
Year Built
1960
Uncvrd Parking Spcs
2
Total # of Units
6
# of Buildings
Yes
Zoning
RM-3
Elementary School District
Mesa Unified District
High School District
Mesa Unified District
Elementary School
Franklin At Brimhall Elementary
Jr. High School
Kino Junior High School
High School
Mesa High School

Remarks Misc

Cross Street
Pioneer & 3rd
Directions
Go W on E Broadway, Turn North on Pioneer, Property on Left

Status Change Info

Off Market Date
2021-05-15
Under Contract Date
2021-03-29
Close of Escrow Date
2021-05-17

Legal Info

Township
1N
Range
5E
Section
23
Lot Number
8

More Information

Income Expenses

Gross Annual Sch Inc
69900
Net Operating Income
48375

Efficiency Units

Avg Rent
925
# Baths
Yes

1 Bedroom Units

# 1 Bedroom Units
5
Avg Rent
950
Avg SqFt
660
# Baths
Yes

2 Bedroom Units

# 2 Bedroom Units
Yes
Avg Rent
1200
Avg SqFt
766
# Baths
Yes

Sold Info

Loan Type
Cash
Payment Type
Fixed
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

Construction

Block
Yes

Const - Finish

Painted
Yes

Roofing

Composition
Yes

Floors

Ceramic Tile
Yes
Carpet
Yes

Sale Includes

Building(s) Only
Yes

Income & Expenses

Annual Elec Exp
0
Annual Ins Exp
3200
Annual Landscape Exp
1800
Annual Maint Exp
3000
Annual Mgmt Exp
5500
Annual Wtr/Swr Exp
4320
Owner Association
No
Annual Ownr Asoc Fee
0
Operating Exp
18033
Other Income
0
Vacancy Allowance
0.05
Adjusted Gross Inc
66405

Pmt & Rate Info

Cap Rate
5.94
Equity
815000
Down Payment %
0
Monthly Payments
0
Total Owed
0

Showing Notification Methods

Text
Yes
Email
Yes
Phone Call
Yes

Lockbox Type

None
Yes

Community Features

No Pool
Yes

Heating

Heat Pump
Yes

Cooling

Heat Pump
Yes

Tenant Pays

Electricity
Yes
Cable TV
Yes

Appliances Included

Built-In Range
Yes
W/D Hookup
Yes

Road Surface Type

Asphalt
Yes

Source of Fincl Data

Owner
Yes
Projected Proforma
Yes

Water Source

Irrigation
Yes

Sewer

Sewer - Public
Yes

Parking Features

Carport
Yes
On Street
Yes
Add'l Parking Avail
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

Existing 1st Loan

Treat as Free&Clear
Yes

Reports/Disclosures

None
Yes

Environmental

None
Yes

3 Bedrooms Units

Avg Rent
0

4 Bedrooms Units

Avg Rent
0

Property Features

Project Type: 5 - 12 Units Construction: Block Const - Finish: Painted Roofing: Composition Floors: Ceramic Tile; Carpet Sale Includes: Building(s) Only Community Features: No Pool Appliances Included: Built-In Range; W/D Hookup Heating: Heat Pump Cooling: Heat Pump Water Source: Irrigation Sewer: Sewer - Public Electric: SRP Gas: None Parking Features: Carport; On Street; Add'l Parking Avail Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity; Cable TV Source of Fincl Data: Owner; Projected Proforma Showing Notification Methods: Text; Email; Phone Call Lockbox Type: None Existing 1st Loan: Treat as Free&Clear New Financing: Conventional; 1031 Exchange Environmental: None
IDX
Listing Office: My Home Group Real Estate
Last Updated: March - 13 - 2025
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