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434 S MESA Drive, Mesa, AZ 85210
Overview
Description
Supplements: ... (Read more) The property has a unit mix consisting of one and two bedroom floor plans that average approximately 707 square feet and are extremely well designed. Interior unit features include fully appointed kitchens with electric appliances, ceramic tile flooring, window shade screens, mini blinds, ample closet space and ceiling fans. The property is situated on approximately 1.48 acres and is attractively landscaped with lush turf and mature shade trees. Community amenities include an attractive courtyard with a large swimming pool and gazebo, exterior lighting and two laundry facilities. Pecan Tree offers an investor the opportunity to acquire a garden-style apartment community located in a strong north Mesa submarket with in-place yield and additional value-add potential. While the average rent in metropolitan Phoenix remained unchanged over the past quarter, the north Mesa submarket rents increased by 3%. Additionally, the submarket average occupancy improved by 198 basis points over the same period, two and a half times greater than the metro Phoenix average. With the improving submarket fundamentals coupled with the Metro Phoenix market's rapid improvement and recovery, Pecan Tree is well positioned to achieve continual revenue increases.
Listing Details MLS# 5201124
Location, Tax & Legal
- Map Code/Grid
- R39
- House Number
- 434
- Compass
- S
- Street Name
- MESA
- St Suffix
- Drive
- City/Town Code
- Mesa
- State/Province
- AZ
- Zip Code
- 85210
- Zip4
- 2596
- Country
- US
- County Code
- Maricopa
- Assessor Number
- 139-36-032
- Tax Year
- 2014
- Assessor's Map #
- 36
- Legal Description (Abbrev)
- ALMOND PLACE
- Assessor's Parcel #
- 32
- Add'l Parcels
- Yes
- Tax Municipality
- Maricopa - COUNTY
- Census Tract
- 422001
- Taxes
- 11910.24
- Legal
- ALMOND PLACE E2 S2 LOT 3 EX E 7' AKA PT MCR 023-18, BLK 85
- Marketing Name
- Pecan Tree
Contract Info
- Ownership
- Fee Simple
General Property Description
- Lot Size Dimensions
- 64548
- Year Built
- 1935
- Uncvrd Parking Spcs
- 65
- Total # of Units
- 44
- # of Buildings
- 7
- Zoning
- R-4 and MR-4
- Elementary School District
- Mesa Unified District
- High School District
- Mesa Unified District
Status Change Info
- Off Market Date
- 2015-03-11
- Under Contract Date
- 2015-03-01
- Close of Escrow Date
- 2015-05-22
Legal Info
- Township
- 1N
- Range
- 5E
- Section
- 27
- Lot Number
- 3
More Information
1 Bedroom Units
- # 1 Bedroom Units
- 21
- Avg Rent
- 475
- Avg SqFt
- 600
- # Baths
- Yes
2 Bedroom Units
- # 2 Bedroom Units
- 23
- Avg Rent
- 580
- Avg SqFt
- 800
- # Baths
- Yes
Income Expenses
- Gross Annual Sch Inc
- 265170
- Net Operating Income
- 130901
Contact Info
- List Agent Home Phn
- 602-735-5634
Sold Info
- Loan Type
- Conventional
- Loan Years
- Yes
- Payment Type
- Fixed
- Closing Cost Split
- Normal - N
- Buyer Concession $/%
- %
- Seller Concession $/%
- %
- Buyer Concession to Seller
- 0
- Seller Concession to Buyer
- 0
Project Type
- 25 - 50 Units
- Yes
Construction
- Wood Frame
- Yes
Const - Finish
- Painted
- Yes
- Stucco
- Yes
Roofing
- Built-Up
- Yes
- Tile
- Yes
Floors
- Ceramic Tile
- Yes
Sale Includes
- Land & Building
- Yes
Income & Expenses
- Annual Elec Exp
- 0
- Annual Gas Exp
- 0
- Annual Ins Exp
- 0
- Annual Land Lse Exp
- 0
- Annual Landscape Exp
- 0
- Annual Legal & Acctg
- 0
- Annual Maint Exp
- 0
- Annual Mgmt Exp
- 0
- Annual Trash Exp
- 0
- Annual Wtr/Swr Exp
- 0
- Owner Association
- No
- Annual Ownr Asoc Fee
- 0
- Annual PAD Fee
- 0
- Annual Rplcmnt Rsrvs
- 0
- Annual Other Expense
- 0
- Operating Exp
- 11910.24
- Other Income
- 6500
- Vacancy Allowance
- 0.46
- Adjusted Gross Inc
- 146701.8
Pmt & Rate Info
- Cap Rate
- 6.42
- Down Payment
- 0
- Equity
- 2040000
- Down Payment %
- 0
- Monthly Payments
- 0
- Total Owed
- 0
- Assessment Balance
- 0
Community Features
- Pool
- Yes
Heating
- Individual
- Yes
Cooling
- Window/Wall Unit
- Yes
- Individual
- Yes
Exterior Amenities
- Green Landscaping
- Yes
- Security Light(s)
- Yes
Interior Features
- Mini Blinds
- Yes
Tenant Pays
- Electricity
- Yes
Appliances Included
- Dishwasher
- Yes
- Microwave
- Yes
- Refrigerator
- Yes
- Free-Standing Range
- Yes
Road Surface Type
- Asphalt
- Yes
Source of Fincl Data
- Owner
- Yes
Water Source
- City Franchise
- Yes
- Master Meter
- Yes
Sewer
- Sewer - Public
- Yes
Parking Features
- Paved
- Yes
Electric
- APS
- Yes
- Individual Meter
- Yes
Gas
- SW Gas
- Yes
- Master Meter
- Yes
Owner Pays
- Water
- Yes
- Sewer
- Yes
- Gas
- Yes
- Trash Collection
- Yes
- Landscaping
- Yes
New Financing
- Conventional
- Yes
Existing 1st Loan
- Treat as Free&Clear
- Yes
Existing 1st Loan Type
- Not Applicable
- Yes
Existing 1st Loan Terms
- Not Applicable
- Yes
Existing 2nd Loan
- Treat as Free&Clear
- Yes
Existing 2nd Loan Type
- Not Applicable
- Yes
Existing 2nd Loan Terms
- Not Applicable
- Yes
Existing 3rd Loan
- Treat as Free&Clear
- Yes
Existing 3rd Loan Type
- Not Applicable
- Yes
Reports/Disclosures
- None
- Yes
Existing 3rd Loan Terms
- Not Applicable
- Yes
Environmental
- None
- Yes
Existing Othr Ln Trm
- Not Applicable
- Yes
Efficiency Units
- Avg Rent
- 0
3 Bedrooms Units
- Avg Rent
- 0
4 Bedrooms Units
- Avg Rent
- 0
Property Features