507 S Hall Street, Mesa, AZ 85204
$800,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$800,000
Last Modified:
8/14/2025
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.
More Information MLS# 6681066
Contract Info
Ownership: Fee Simple
Current Price: $800,000
Sold Price: $800,000
Status: Closed
List Date: 2024-03-19
Location, Tax & Legal
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
House Number: 507
Compass: S
Street Name: Hall
St Suffix: Street
City/Town Code: Mesa
State/Province: AZ
Zip Code: 85204
County Code: Maricopa
Assessor Number: 139-54-034
Tax Year: 2023
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 0
Lot Size Dimensions: IRR
Total # of Units: 4
Elementary School District: Mesa Unified District
High School District: Mesa Unified District
Year Built: 1962
Zoning: MULTI
Project Type
Four Plex: 1
Construction
Block: 1
Const - Finish
Painted: 1
Brick Veneer: 1
Roofing
Composition: 1
Floors
Concrete: 1
Sale Includes
Land & Building: 1
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
Showing Notification Methods
Showing Service: Aligned Showings
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Heat Pump: 1
Electric: 1
Cooling
Electric: 1
Heat Pump: 1
Individual: 1
Exterior Amenities
Green Landscaping: 1
Desert Landscaping: 1
Tenant Pays
Electricity: 1
Cable TV: 1
Appliances Included
Built-In Range: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
1 Space/Unit: 1
Electric
SRP: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
New Financing
Conventional: 1
FHA: 1
Wraparound: 1
Existing 1st Loan
FHA: 1
Existing 1st Loan Type
Fixed: 1
Existing 1st Loan Terms
Non Assumable: 1
Existing 2nd Loan
Other (See Remarks): 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Other (See Remarks): 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
None: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Contact Info
List Agent Home Phn: 480-228-4509
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 4
Avg Rent: 1400
Avg SqFt: 864
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Carryback
Loan Years: 3
Closing Cost Split: Normal - N
Payment Type: Interest Only
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: BROADWAY & GILBERT
Geo Lat: 33.406379
Geo Lon: -111.792806
Status Change Info
Off Market Date: 2024-09-16
Under Contract Date: 2024-08-16
Close of Escrow Date: 2024-09-16
Sold Price: $800,000
Legal Info
Lot Number: 34
Income Expenses
Gross Annual Sch Inc: 64800
Net Operating Income: 45512
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
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