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
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.
More Information MLS# 6157836
Contract Info
Ownership: Fee Simple
Current Price: $1,375,000
Sold Price: $1,375,000
Status: Closed
List Date: 2020-11-07
Location, Tax & Legal
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
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
County Code: Maricopa
Subdivision: KO KO PALMS
Assessor Number: 137-37-004-A
Tax Year: 2020
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 7
Lot Size Dimensions: 115x80
Total # of Units: 11
Elementary School District: Mesa Unified District
High School District: Mesa Unified District
Year Built: 1963
Zoning: RM-3
Legal Info
Range: 5E
Section: 13
Township: 1N
Lot Number: 4
Project Type
5 - 12 Units: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Concrete: 1
Ceramic Tile: 1
Carpet: 1
Sale Includes
Land & Building: 1
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: 1
Community Features
No Pool: 1
Heating
Electric: 1
Cooling
Electric: 1
Exterior Amenities
Desert Landscaping: 1
Sidewalk(s): 1
Interior Features
Unfurnished: 1
Fire/Smoke Alarm(s): 1
Vertical Blinds: 1
Tenant Pays
Electricity: 1
Cable TV: 1
Appliances Included
Refrigerator: 1
W/D Hookup: 1
Other: 1
Road Access Type
Dedicated Street: 1
Private Road: 1
Road Surface Type
Gravel: 1
Source of Fincl Data
Owner: 1
Books Shwn Accpt Ofr: 1
Tax Return: 1
Water Source
City Franchise: 1
Master Meter: 1
Sewer
Sewer - Public: 1
Parking Features
Free: 1
On Street: 1
Paved: 1
Add'l Parking Avail: 1
Assigned: 1
Electric
SRP: 1
Master Meter: 1
Individual Meter: 1
Gas
City Gas: 1
Master Meter: 1
Owner Pays
Water: 1
Sewer: 1
Electric: 1
Gas: 1
Trash Collection: 1
See Remarks: 1
New Financing
Conventional: 1
Other (See Remarks): 1
Special
Owner/Agent: 1
Existing 1st Loan
Private: 1
Existing 1st Loan Type
Fixed: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Contact Info
List Agent Home Phn: 480-442-2390
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 5
Avg Rent: 850
Avg SqFt: 500
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 6
Avg Rent: 1000
Avg SqFt: 1000
# Baths: 2
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Exchange
Closing Cost Split: Normal - N
Payment Type: Fixed
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 11745
Seller Concession $/%: $
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.
Geo Lat: 33.42344
Geo Lon: -111.795874
Status Change Info
Off Market Date: 2020-12-13
Under Contract Date: 2020-11-21
Close of Escrow Date: 2020-12-11
Sold Price: $1,375,000
Income Expenses
Gross Annual Sch Inc: 116700
Net Operating Income: 94338
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 ›
Listing Office:
Platinum Living Realty
Last Updated: March - 27 - 2025
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