409 N WILLIAMS E, Mesa, AZ 85203
$1,440,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$1,440,000
Last Modified:
2/08/2017
Description
Palm Shadows is a Very Attractive Community Located Close to Mesa City Center. Made up of 19-2 Bedroom, 2 Bath Units and One Three Bedroom, Two Bath Unit. The Apartments are Approximately 1000 Square Feet Each. Building is Attractive Slump Bock Meaning Less Maintenance and Painting. Covered Parking, Laundry Facilities and Barbecue Area and Play Area. Major Employers are Boeing, Falcon Field and Many Others Including the City. Location is Between The Superstition Freeway and the Red Mountain Freeway.
Good Cash Flow and Upside Potential All Facts and Figures Are Approximate Buyer to Verify to Their Satisfaction.
More Information MLS# 5496089
Contract Info
Ownership: Fee Simple
Current Price: $1,440,000
Sold Price: $1,440,000
Status: Closed
List Date: 2016-09-11
Location, Tax & Legal
Assessor's Map #: 37
Legal Description (Abbrev): KO KO PALMS 2 LOTS 54 & 55 & 56
Assessor's Parcel #: 54
Assessor Parcel Ltr: A
Add'l Parcels: No
Tax Municipality: Mesa
Census Tract: 420800
Taxes: 6054
Tax District: 04
Legal: KO KO PALMS 2 LOTS 54 & 55 & 56
Marketing Name: Palm Shadows
Map Code/Grid: Q39
House Number: 409
Compass: N
Street Name: WILLIAMS
St Suffix: --
St Dir Sfx: E
City/Town Code: Mesa
State/Province: AZ
Zip Code: 85203
Zip4: 7402
County Code: Maricopa
Subdivision: KO KO PALMS 2
Assessor Number: 137-37-054-A
Tax Year: 2015
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 7
Lot Size Dimensions: 20000
Total # of Units: 20
Elementary School District: Mesa Unified District
High School District: Mesa Unified District
Year Built: 1970
Zoning: Multi
Legal Info
Range: 5E
Section: 13
Township: 1N
Lot Number: 54
Project Type
13 - 24 Units: 1
Construction
Slump Block: 1
Const - Finish
Other (See Remarks): 1
Roofing
Built-Up: 1
Floors
Ceramic Tile: 1
Carpet: 1
Other: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 3300
Annual Gas Exp: 0
Annual Ins Exp: 6375
Annual Land Lse Exp: 0
Annual Landscape Exp: 8670
Annual Legal & Acctg: 0
Annual Maint Exp: 21800
Annual Mgmt Exp: 6000
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 14150
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 2000
Operating Exp: 68349
Other Income: 4341
Vacancy Allowance: 0.05
Adjusted Gross Inc: 163096.95
Total Monthly Rental Income: 13945
Pmt & Rate Info
Cap Rate: 6.34
Down Payment: 0
Equity: 1498000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Community Features
Pool: 1
Barbecue: 1
Heating
Electric: 1
Individual: 1
Cooling
Electric: 1
Individual: 1
Exterior Amenities
Green Landscaping: 1
Partially Fenced: 1
Cable TV Available: 1
Sidewalk(s): 1
Patio/Balcony: 1
Security Light(s): 1
Interior Features
Unfurnished: 1
Fire/Smoke Alarm(s): 1
Vertical Blinds: 1
Tenant Pays
Electricity: 1
Cable TV: 1
Appliances Included
Dishwasher: 1
Disposal: 1
Refrigerator: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Projected Proforma: 1
Water Source
City Franchise: 1
Master Meter: 1
Sewer
Sewer - Public: 1
Sewer-In & Connected: 1
Parking Features
Carport: 1
Free: 1
>1 Space Per Unit: 1
Paved: 1
Add'l Parking Avail: 1
Electric
SRP: 1
Individual Meter: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
New Financing
Conventional: 1
1031 Exchange: 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
Seller Prop Disc Stm: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 19
Avg Rent: 695
Avg SqFt: 1000
# Baths: 2
3 Bedrooms Units
# 3 Bedroom Units: 1
Avg Rent: 740
Avg SqFt: 1000
# Baths: 2
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Conventional
Loan Years: 25
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: University & Gilbert
Directions: University & Gilbert, West on University
to Williams and Turn North.
Geo Lat: 33.423071
Geo Lon: -111.794269
Status Change Info
Off Market Date: 2017-01-05
Under Contract Date: 2016-10-15
Close of Escrow Date: 2017-02-08
Sold Price: $1,440,000
Income Expenses
Gross Annual Sch Inc: 167340
Net Operating Income: 94965
Property Features
Project Type: 13 - 24 Units
Construction: Slump Block
Const - Finish: Other (See Remarks)
Roofing: Built-Up
Floors: Ceramic Tile; Carpet; Other
Sale Includes: Land & Building
Community Features: Pool; Barbecue
Exterior Amenities: Green Landscaping; Partially Fenced; Cable TV Available; Sidewalk(s); Patio/Balcony; Security Light(s)
Interior Features: Unfurnished; Fire/Smoke Alarm(s); Vertical Blinds
Appliances Included: Refrigerator; Dishwasher; Disposal
Heating: Individual
Cooling: Electric; Individual
Water Source: City Franchise; Master Meter
Sewer: Sewer - Public; Sewer-In & Connected
Electric: SRP; Individual Meter
Gas: None
Parking Features: Carport; >1 Space Per Unit; Add'l Parking Avail; Free; Paved
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection
Tenant Pays: Electricity; Cable TV
Source of Fincl Data: Projected Proforma
Existing 1st Loan: Treat as Free&Clear
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; 1031 Exchange
Environmental: None
Listing Office:
Better Homes & Gardens Real Estate SJ Fowler
Last Updated: February - 08 - 2017
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