505 N WILLIAMS Street, Mesa, AZ 85203
$1,200,000
Property Type:
Multiple Dwellings
Status:
Active
Current Price:
$1,200,000
Last Modified:
2/05/2026
Description
We are excited to offer Eight on Williams in Mesa, the most affordably priced multifamily asset of it's class. This property is an excellent unit mix all two bedroom one bath units. This property has had paint, and a newer roof on the back building in recent years. Some units have granite counter tops updated kitchens flooring The garden style building in back has private yards. All units have covered parking. Some units have washer hook ups as well. This is an excellent rental property in Current rents are averaging 1200 a piece with room to raise. Pro-forma numbers provided as well as current rents. All facts and figures are approximate buyer verify MLS information. Drive by only, tenants are unaware of the sale. Property will be shown with an accepted offer.
More Information MLS# 6937947
Contract Info
Ownership: Fee Simple
Current Price: $1,200,000
List Price: $1,200,000
Status: Active
List Date: 2025-10-23
Location, Tax & Legal
Assessor's Map #: 37
Legal Description (Abbrev): LOT 49 KO KO PALMS 2 LOTS 34-76 MCR 010310
Assessor's Parcel #: 49
Add'l Parcels: No
Tax Municipality: Mesa
Census Tract: 420800
Taxes: 1815
Legal: LOT 49 KO KO PALMS 2 LOTS 34-76 MCR 010310
Marketing Name: 8 on Williams
House Number: 505
Compass: N
Street Name: WILLIAMS
St Suffix: Street
City/Town Code: Mesa
State/Province: AZ
Zip Code: 85203
Zip4: 7421
County Code: Maricopa
Subdivision: KO KO PALMS 2 LOTS 34-76
Assessor Number: 137-37-049
Tax Year: 2024
General Property Description
# of Buildings: 4
Uncvrd Parking Spcs: 0
Lot Size Dimensions: IRR
Total # of Units: 8
Elementary School District: Mesa Unified District
High School District: Mesa Unified District
Year Built: 1963
Zoning: R
Legal Info
Range: 5E
Section: 13
Township: 1N
Lot Number: 49
Project Type
5 - 12 Units: 1
Construction
Block: 1
Wood Frame: 1
Const - Finish
Painted: 1
Stucco: 1
Stone: 1
Roofing
Composition: 1
Floors
Tile: 1
Vinyl: 1
Carpet: 1
Sale Includes
Land & Building: 1
Personal Property: 1
Income & Expenses
Annual Elec Exp: 300
Annual Gas Exp: 0
Annual Ins Exp: 2500
Annual Land Lse Exp: 0
Annual Landscape Exp: 2400
Annual Legal & Acctg: 0
Annual Maint Exp: 4000
Annual Mgmt Exp: 9216
Annual Wtr/Swr Exp: 6600
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 26831
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 109440
Total Monthly Rental Income: 9600
Pmt & Rate Info
Cap Rate: 7.36
Down Payment: 0
Equity: 1200000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Showing Notification Methods
Showing Service: Aligned Showings
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Forced Air: 1
Central: 1
Other: 1
See Remarks: 1
Cooling
Central Air: 1
Electric: 1
Individual: 1
Exterior Amenities
Green Landscaping: 1
Interior Features
Unfurnished: 1
Tenant Pays
Electricity: 1
Appliances Included
Refrigerator: 1
Free-Standing Range: 1
Road Surface Type
Treated: 1
Source of Fincl Data
Projected Proforma: 1
Water Source
City Franchise: 1
Master Meter: 1
Sewer
Sewer - Public: 1
Parking Features
Carport: 1
Electric
SRP: 1
Gas
Other (See Remarks): 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
New Financing
Cash: 1
Conventional: 1
Existing 1st Loan
Conventional: 1
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 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: 8
Avg Rent: 1200
Avg SqFt: 955
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Cross Street: University & Stapley
Geo Lat: 33.424611
Geo Lon: -111.794749
Income Expenses
Gross Annual Sch Inc: 115200
Net Operating Income: 88369
Property Features
Project Type: 5 - 12 Units
Construction: Block; Wood Frame
Const - Finish: Painted; Stucco; Stone
Roofing: Composition
Floors: Tile; Vinyl; Carpet
Sale Includes: Land & Building; Personal Property
Community Features: No Pool
Exterior Amenities: Green Landscaping
Interior Features: Unfurnished
Appliances Included: Free-Standing Range; Refrigerator
Heating: Forced Air; Central; Other; See Remarks
Cooling: Electric; Individual; Central Air
Water Source: City Franchise; Master Meter
Sewer: Sewer - Public
Electric: SRP
Gas: Other (See Remarks)
Parking Features: Carport
Road Surface Type: Treated
Owner Pays: Water; Trash Collection
Tenant Pays: Electricity
Source of Fincl Data: Projected Proforma
Lockbox Type: None
Existing 1st Loan: Conventional; 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 Type: Not Applicable
Existing 3rd Loan Terms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Cash; Conventional
Environmental: None
Listing Office:
Grace CRE
Last Updated: February - 05 - 2026
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