434 N HILL, Mesa, AZ 85203 (MLS# 6157836)

434 N HILL, Mesa, AZ 85203

$1,375,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $1,375,000 List Date: 11/09/2020 Last Modified: 3/27/2025

Overview

Description

Owner/Agent managed (11) UNITS, 2 buildings in Mesa. Both buildings have newer roofs, NEW steps on stairs, ALL of the units get updated during tenant turnovers. A few of the AC units have been replaced past 12 months, the rest of the units are maintained every summer, tenants filters get changed 3-4 times per year by us. Building consists of: (5) 1BR/ 1BA (4) 2 BR/1BA and (2) 2BR/2BA 2 large units. TOTAL: 11 units that you can turn into a 13 unit as it used to be, See Documents Tabs for VALUE ADD suggestions and expenses, make up to 25k more yearly in additional income on this building! Documents tab also has one years worth of electric and utility bills to show the expenses are low in here! For the serious buyer we have monthly P&L. less than 5 miles to EVIT, Light Rail, US-60 FRWY.

Listing Details MLS# 6157836

Location, Tax & Legal

Map Code/Grid: Q39
House Number: 434
Compass: N
Street Name: HILL
St Suffix: --
City/Town Code: Mesa
State/Province: AZ
Zip Code: 85203
Zip4: 7469
Country: US
County Code: Maricopa
Subdivision: KO KO PALMS
Assessor Number: 137-37-004-A
Tax Year: 2020
Assessor's Map #: 37
Legal Description (Abbrev): LOT 4 KO KO PALMS MCR 009727
Assessor's Parcel #: 4
Assessor Parcel Ltr: A
Add'l Parcels: Yes
Tax Municipality: Mesa
Census Tract: 420800
Taxes: 2048
Legal: LOT 4 KO KO PALMS MCR 009727
Marketing Name: Hill Rentals LLC

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 115x80
Year Built: 1963
Uncvrd Parking Spcs: 7
Total # of Units: 11
# of Buildings: 2
Zoning: RM-3
Elementary School District: Mesa Unified District
High School District: Mesa Unified District

Remarks Misc

Cross Street: Gilbert and University
Directions: West on University to Hill, Right/North buildings are on the left just before the road curves at the end of street.

Status Change Info

Off Market Date: 2020-12-13
Under Contract Date: 2020-11-21
Close of Escrow Date: 2020-12-11

Legal Info

Township: 1N
Range: 5E
Section: 13
Lot Number: 4

More Information

Income Expenses

Gross Annual Sch Inc: 116700
Net Operating Income: 94338

1 Bedroom Units

# 1 Bedroom Units: 5
Avg Rent: 850
Avg SqFt: 500
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: 6
Avg Rent: 1000
Avg SqFt: 1000
# Baths: 2

Contact Info

List Agent Home Phn: 480-442-2390

Sold Info

Loan Type: Exchange
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession to Buyer: 11745
Seller Concession $/%: $
Buyer Concession to Seller: 0

Project Type

5 - 12 Units: Yes

Construction

Block: Yes

Const - Finish

Painted: Yes

Roofing

Composition: Yes

Floors

Concrete: Yes
Ceramic Tile: Yes
Carpet: Yes

Sale Includes

Land & Building: Yes

Income & Expenses

Annual Elec Exp: 5500
Annual Ins Exp: 3000
Annual Landscape Exp: 480
Annual Trash Exp: 2000
Annual Wtr/Swr Exp: 7000
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 20028
Other Income: 0
Vacancy Allowance: 0.02
Adjusted Gross Inc: 114366

Pmt & Rate Info

Cap Rate: 6.75
Equity: 1397000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0

Lockbox Type

None: Yes

Community Features

No Pool: Yes

Heating

Electric: Yes

Cooling

Electric: Yes

Exterior Amenities

Desert Landscaping: Yes
Sidewalk(s): Yes

Interior Features

Unfurnished: Yes
Fire/Smoke Alarm(s): Yes
Vertical Blinds: Yes

Tenant Pays

Electricity: Yes
Cable TV: Yes

Appliances Included

Refrigerator: Yes
W/D Hookup: Yes
Other: Yes

Road Access Type

Dedicated Street: Yes
Private Road: Yes

Road Surface Type

Gravel: Yes

Source of Fincl Data

Owner: Yes
Books Shwn Accpt Ofr: Yes
Tax Return: Yes

Water Source

City Franchise: Yes
Master Meter: Yes

Sewer

Sewer - Public: Yes

Parking Features

Free: Yes
On Street: Yes
Paved: Yes
Add'l Parking Avail: Yes
Assigned: Yes

Electric

SRP: Yes
Master Meter: Yes
Individual Meter: Yes

Gas

City Gas: Yes
Master Meter: Yes

Owner Pays

Water: Yes
Sewer: Yes
Electric: Yes
Gas: Yes
Trash Collection: Yes
See Remarks: Yes

New Financing

Conventional: Yes
Other (See Remarks): Yes

Special

Owner/Agent: Yes

Existing 1st Loan

Private: Yes

Existing 1st Loan Type

Fixed: Yes

Reports/Disclosures

None: Yes

Environmental

None: Yes

Efficiency Units

Avg Rent: 0

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: Concrete; Ceramic Tile; Carpet Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Desert Landscaping; Sidewalk(s) Interior Features: Unfurnished; Fire/Smoke Alarm(s); Vertical Blinds Appliances Included: Refrigerator; W/D Hookup; Other Cooling: Electric Water Source: City Franchise; Master Meter Sewer: Sewer - Public Electric: SRP; Master Meter; Individual Meter Gas: City Gas; Master Meter Parking Features: On Street; Add'l Parking Avail; Assigned; Free; Paved Road Access Type: Dedicated Street; Private Road Road Surface Type: Gravel Owner Pays: Water; Electric; Gas; Trash Collection; See Remarks Tenant Pays: Electricity; Cable TV Source of Fincl Data: Owner; Books Shwn Accpt Ofr; Tax Return Special: Owner/Agent Lockbox Type: None Existing 1st Loan: Private Existing 1st Loan Type: Fixed New Financing: Conventional; Other (See Remarks) Environmental: None

Documents

HILL CURRENT INCOME ›

VALUE ADD SUGGESTIONS ›

434 City Of Mesa Yearly ›

436 City of Mesa Yearly ›

436 Hill SRP YEARLY BILL ›

Listing Office: Platinum Living Realty

Last Updated: March - 27 - 2025