507 S Hall Street, Mesa, AZ 85204 (MLS# 6681066)

507 S Hall Street, Mesa, AZ 85204

$800,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $800,000 Last Modified: 8/14/2025

Overview

Description

Owner would prefer to sell with 517 S Hall St. Owner self managed. Owner has recently installed fencing giving each unit significant private space. This will make the units much more marketable in the future, and will shift the exterior maintenance for the private spaces from the obligation of the landlord to the obligation of the tenant. An ADA sidewalk from the front to the back was also installed. Rent was also increased to at least $1400 for all tenants except unit D. All tenants are month to month Except unit D, and all would like to stay. Opportunity to improve numbers and get economies of scale with upgrades and buying both units.

Supplements: both units.

Listing Details MLS# 6681066

Location, Tax & Legal

House Number: 507
Compass: S
Street Name: Hall
St Suffix: Street
City/Town Code: Mesa
State/Province: AZ
Zip Code: 85204
Country: US
County Code: Maricopa
Assessor Number: 139-54-034
Tax Year: 2023
Assessor's Map #: 54
Assessor's Parcel #: 34
Add'l Parcels: No
Tax Municipality: Mesa
Taxes: 1530
Legal: LOT 35 PARK MESA MCR 008301
Marketing Name: 4plex

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: IRR
Year Built: 1962
Total # of Units: 4
# of Buildings: Yes
Zoning: MULTI
Elementary School District: Mesa Unified District
High School District: Mesa Unified District
Uncvrd Parking Spcs: 0

Remarks Misc

Cross Street: BROADWAY & GILBERT

Status Change Info

Off Market Date: 2024-09-16
Under Contract Date: 2024-08-16
Close of Escrow Date: 2024-09-16

Legal Info

Lot Number: 34

More Information

Income Expenses

Gross Annual Sch Inc: 64800
Net Operating Income: 45512

Showing Notification Methods

Showing Service: Aligned Showings

2 Bedroom Units

# 2 Bedroom Units: 4
Avg Rent: 1400
Avg SqFt: 864
# Baths: Yes

Contact Info

List Agent Home Phn: 480-228-4509

Sold Info

Loan Type: Carryback
Loan Years: 3
Payment Type: Interest Only
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Buyer Concession to Seller: 0
Seller Concession to Buyer: 0

Project Type

Four Plex: Yes

Construction

Block: Yes

Const - Finish

Painted: Yes
Brick Veneer: Yes

Roofing

Composition: Yes

Floors

Concrete: Yes

Sale Includes

Land & Building: Yes

Income & Expenses

Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 1039
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 2000
Annual Mgmt Exp: 6000
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 5479
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 16048
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 61560
Total Monthly Rental Income: 25200

Pmt & Rate Info

Cap Rate: 5.55
Down Payment: 0
Equity: 598307
1st Encumbrance: 221693
Down Payment %: 0
Monthly Payments: 0
1st Interest Rate: 7
1st Years Remaining: 28
1st Payment: 1655
1st Payment Freq: Monthly
Total Owed: 221693
Assessment Balance: 0

Lockbox Type

None: Yes

Community Features

No Pool: Yes

Heating

Heat Pump: Yes
Electric: Yes

Cooling

Electric: Yes
Heat Pump: Yes
Individual: Yes

Exterior Amenities

Green Landscaping: Yes
Desert Landscaping: Yes

Tenant Pays

Electricity: Yes
Cable TV: Yes

Appliances Included

Built-In Range: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

1 Space/Unit: Yes

Electric

SRP: Yes

Gas

None: Yes

Owner Pays

Water: Yes
Sewer: Yes

New Financing

Conventional: Yes
FHA: Yes
Wraparound: Yes

Existing 1st Loan

FHA: Yes

Existing 1st Loan Type

Fixed: Yes

Existing 1st Loan Terms

Non Assumable: Yes

Existing 2nd Loan

Other (See Remarks): Yes

Existing 2nd Loan Type

Not Applicable: Yes

Existing 2nd Loan Terms

Not Applicable: Yes

Existing 3rd Loan

Other (See Remarks): 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

1 Bedroom Units

Avg Rent: 0

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: Four Plex Construction: Block Const - Finish: Painted; Brick Veneer Roofing: Composition Floors: Concrete Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Green Landscaping; Desert Landscaping Appliances Included: Built-In Range Heating: Heat Pump Cooling: Electric; Heat Pump; Individual Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: None Parking Features: 1 Space/Unit Road Surface Type: Asphalt Owner Pays: Water Tenant Pays: Electricity; Cable TV Source of Fincl Data: Owner Lockbox Type: None Existing 1st Loan: FHA Existing 1st Loan Type: Fixed Existing 1st Loan Terms: Non Assumable Existing 2nd Loan: Other (See Remarks) Existing 2nd Loan Type: Not Applicable Existing 2nd Loan Terms: Not Applicable Existing 3rd Loan: Other (See Remarks) Existing 3rd Loan Type: Not Applicable Existing 3rd Loan Terms: Not Applicable Existing Othr Ln Trm: Not Applicable New Financing: FHA; Conventional; Wraparound Environmental: None

Listing Office: AZ Brokerage Holdings, LLC

Last Updated: August - 14 - 2025