4423 E MCLELLAN Road 117-120, Mesa, AZ 85205
$1,050,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$1,050,000
Last Modified:
2/20/2025
Description
Wonderful investment fourplex in a nice part of NE Mesa! Highly desirable location in proximity to Walmart, Falcon Field, Boeing, Amazon distribution & multiple freeways. The boutique ''Falcon Estates'' complex was built in 2005 and has six identical fourplexes built around a beautiful community pool and park. The HOA includes trash/recycle, pool service, common area maintenance, landscaping, lighting, and covered parking. All four units are identical size and layout with ~1,225 sqft encompassing 3 beds, 2 baths, full size kitchen, & a laundry room. The basement layout maximizes space and functionality with the primary bedroom/bath on the main level and 2 bedrooms + bath downstairs. Owners have maintained and updated units including hot water heaters, flooring, and paint.
More Information MLS# 6782885
Contract Info
Ownership: Fee Simple
Current Price: $1,050,000
Sold Price: $1,050,000
Status: Closed
List Date: 2024-11-12
Location, Tax & Legal
Unit #: 117-120
Building Number: 5
Assessor's Map #: 72
Legal Description (Abbrev): LOT 5 FALCON ESTATES FOURPLEX SUBDIVISION MCR 075310
Assessor's Parcel #: 78
Add'l Parcels: No
Tax Municipality: Mesa
Census Tract: 420215
Taxes: 3886
Tax District: 04
Legal: LOT 5 FALCON ESTATES FOURPLEX SUBDIVISION MCR 075310
Marketing Name: Falcon Field Fourplex!
House Number: 4423
Compass: E
Street Name: MCLELLAN
St Suffix: Road
City/Town Code: Mesa
State/Province: AZ
Zip Code: 85205
Zip4: 3220
County Code: Maricopa
Subdivision: Falcon Estates
Assessor Number: 141-72-078
Tax Year: 2023
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 4
Lot Size Dimensions: 3085 sq ft
Total # of Units: 4
Elementary School District: Mesa Unified District
High School District: Mesa Unified District
Year Built: 2005
Zoning: M-H
Legal Info
Range: 6E
Section: 10
Township: 1N
Lot Number: 5
Project Type
Four Plex: 1
Construction
Wood Frame: 1
Const - Finish
Painted: 1
Stucco: 1
Roofing
Tile: 1
Floors
Ceramic Tile: 1
Carpet: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 1200
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 3000
Annual Mgmt Exp: 6000
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 0
Owner Association: Yes
Annual Ownr Asoc Fee: 11259
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 25345
Other Income: 0
Vacancy Allowance: 0.1
Adjusted Gross Inc: 72420.3
Total Monthly Rental Income: 6705
Pmt & Rate Info
Cap Rate: 4.32
Down Payment: 0
Equity: 1089000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: No Showing Service Used
Lockbox Type
None: 1
Community Features
Pool: 1
Play Area: 1
Heating
Electric: 1
Cooling
Electric: 1
Exterior Amenities
Desert Landscaping: 1
Interior Features
Unfurnished: 1
Fire/Smoke Alarm(s): 1
Basement: 1
Tenant Pays
Water: 1
Sewer: 1
Electricity: 1
Cable TV: 1
Appliances Included
Dishwasher: 1
Disposal: 1
Microwave: 1
Refrigerator: 1
Free-Standing Range: 1
W/D Hookup: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Projected Proforma: 1
Water Source
City Franchise: 1
Individual Meter: 1
Sewer
Sewer - Public: 1
Parking Features
1 Space/Unit: 1
Paved: 1
Electric
SRP: 1
Gas
None: 1
Owner Pays
None: 1
New Financing
Cash: 1
VA: 1
Conventional: 1
FHA: 1
No Carry: 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
Reports/Disclosures
Seller Prop Disc Stm: 1
Environmental
None: 1
Contact Info
List Agent Cell Phn2: 480-332-7296
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
Avg Rent: 0
3 Bedrooms Units
# 3 Bedroom Units: 4
Avg Rent: 1676
Avg SqFt: 1225
# Baths: 2
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Conventional
Loan Years: 30
Closing Cost Split: Normal - N
Payment Type: Fixed
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 10000
Seller Concession $/%: $
Remarks Misc
Cross Street: GREENFIELD AND MCKELLIPS
Directions: From Greenfield and McKellips, head South to McLellan. Turn East onto McLellan and the complex is immediately on the South side of the street.
Geo Lat: 33.444013
Geo Lon: -111.734697
Status Change Info
Off Market Date: 2025-02-20
Under Contract Date: 2024-12-02
Close of Escrow Date: 2025-02-19
Sold Price: $1,050,000
Income Expenses
Gross Annual Sch Inc: 80467
Net Operating Income: 47075
Property Features
Project Type: Four Plex
Construction: Wood Frame
Const - Finish: Painted; Stucco
Roofing: Tile
Floors: Ceramic Tile; Carpet
Sale Includes: Land & Building
Community Features: Pool; Play Area
Exterior Amenities: Desert Landscaping
Interior Features: Unfurnished; Fire/Smoke Alarm(s); Basement
Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Microwave; W/D Hookup
Cooling: Electric
Water Source: City Franchise; Individual Meter
Sewer: Sewer - Public
Electric: SRP
Gas: None
Parking Features: 1 Space/Unit; Paved
Road Surface Type: Asphalt
Owner Pays: None
Tenant Pays: Water; Sewer; Electricity; Cable TV
Source of Fincl Data: Owner; Projected Proforma
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
Existing 1st Loan Type: Not Applicable
Existing 1st Loan Terms: Not Applicable
New Financing: Cash; VA; FHA; Conventional; No Carry; 1031 Exchange
Environmental: None
Documents
McLellan Rent Roll ›
Listing Office:
HomeSmart
Last Updated: February - 20 - 2025
Copyright 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.