302-312 S PIONEER, Mesa, AZ 85204
$825,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$825,000
Last Modified:
3/13/2025
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!
More Information MLS# 6202314
Contract Info
Ownership: Fee Simple
Current Price: $825,000
Sold Price: $825,000
Status: Closed
List Date: 2021-03-04
Location, Tax & Legal
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
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
County Code: Maricopa
Subdivision: PIONEER REST LOTS 1-9 TR A
Assessor Number: 138-30-192
Tax Year: 2020
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 2
Lot Size Dimensions: 19,600
Total # of Units: 6
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
Year Built: 1960
Zoning: RM-3
Legal Info
Range: 5E
Section: 23
Township: 1N
Lot Number: 8
Project Type
5 - 12 Units: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Ceramic Tile: 1
Carpet: 1
Sale Includes
Building(s) Only: 1
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: 1
Email: 1
Phone Call: 1
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Heat Pump: 1
Cooling
Heat Pump: 1
Tenant Pays
Electricity: 1
Cable TV: 1
Appliances Included
Built-In Range: 1
W/D Hookup: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Projected Proforma: 1
Water Source
Irrigation: 1
Sewer
Sewer - Public: 1
Parking Features
Carport: 1
On Street: 1
Add'l Parking Avail: 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
Existing 1st Loan
Treat as Free&Clear: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 925
# Baths: 1
1 Bedroom Units
# 1 Bedroom Units: 5
Avg Rent: 950
Avg SqFt: 660
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 1
Avg Rent: 1200
Avg SqFt: 766
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Cash
Closing Cost Split: Normal - N
Payment Type: Fixed
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: Pioneer & 3rd
Directions: Go W on E Broadway, Turn North on Pioneer, Property on Left
Geo Lat: 33.409464
Geo Lon: -111.819822
Status Change Info
Off Market Date: 2021-05-15
Under Contract Date: 2021-03-29
Close of Escrow Date: 2021-05-17
Sold Price: $825,000
Income Expenses
Gross Annual Sch Inc: 69900
Net Operating Income: 48375
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
Listing Office:
My Home Group Real Estate
Last Updated: March - 13 - 2025
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