517 S HALL, Mesa, AZ 85204 (MLS# 6681070)

517 S HALL, Mesa, AZ 85204

$800,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $800,000 List Date: 4/15/2024 Last Modified: 8/14/2025

Overview

Description

Owner would prefer to sell with 507 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 starting 6/1/24. A separately metered wash room also exists for what used to be a shared laundry. This has been switched to used for the A unit only and they pay the second electric bill. All tenants are month to month, and all would like to stay. Opportunity to improve numbers and get economies of scale with upgrades and buying

Supplements: both units.

Listing Details MLS# 6681070

Location, Tax & Legal

House Number: 517
Compass: S
Street Name: HALL
St Suffix: --
City/Town Code: Mesa
State/Province: AZ
Zip Code: 85204
Zip4: 2834
Country: US
County Code: Maricopa
Subdivision: PARK MESA, LOT 35
Assessor Number: 139-54-035
Tax Year: 2023
Assessor's Map #: 54
Legal Description (Abbrev): PARK MESA
Assessor's Parcel #: 35
Add'l Parcels: No
Tax Municipality: Mesa
Census Tract: 421802
Taxes: 1530
Legal: LOT 35 PARK MESA MCR 008301
Marketing Name: 4plex

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 12,219 SQFT
Year Built: 1962
Uncvrd Parking Spcs: 2
Total # of Units: 4
# of Buildings: Yes
Zoning: R-3
Elementary School District: Mesa Unified District
High School District: Mesa Unified District

Remarks Misc

Cross Street: GILBERT ROAD AND BROADWAY ROAD
Directions: On Broadway go two blocks west of Gilbert Rd to Hall, South to property

Status Change Info

Off Market Date: 2024-08-09
Under Contract Date: 2024-07-26
Close of Escrow Date: 2024-08-14

Legal Info

Township: 1N
Range: 5E
Section: 25
Lot Number: 35

More Information

Income Expenses

Gross Annual Sch Inc: 69240
Net Operating Income: 50631

Showing Notification Methods

Showing Service: Aligned Showings

2 Bedroom Units

# 2 Bedroom Units: 4
Avg Rent: 1400
Avg SqFt: 879
# Baths: Yes

Contact Info

List Agent Home Phn: 480-228-4509

Sold Info

Loan Type: Cash
Payment Type: Other
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
Brick: Yes

Const - Finish

Painted: Yes
Siding: Yes

Roofing

Composition: Yes

Floors

Ceramic Tile: Yes
Carpet: 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: 4578
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 15147
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 65778

Pmt & Rate Info

Cap Rate: 6.03
Down Payment: 0
Equity: 840000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0

Lockbox Type

None: Yes

Community Features

No Pool: Yes

Heating

Heat Pump: Yes
Electric: Yes

Cooling

Electric: Yes
Heat Pump: Yes

Tenant Pays

Electricity: Yes

Appliances Included

Refrigerator: Yes
Free-Standing Range: Yes

Road Surface Type

Asphalt: Yes
Dirt: Yes
Gravel: Yes

Source of Fincl Data

Owner: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

Carport: Yes
1 Space/Unit: Yes

Electric

SRP: Yes

Gas

None: Yes

Owner Pays

Water: Yes
Sewer: Yes
Trash Collection: Yes

New Financing

VA: Yes
Conventional: Yes
FHA: 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

Adjustable/Graduated: Yes

Existing 2nd Loan Terms

Non Assumable: 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

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; Brick Const - Finish: Painted; Siding Roofing: Composition Floors: Ceramic Tile; Carpet Sale Includes: Land & Building Community Features: No Pool Appliances Included: Free-Standing Range; Refrigerator Heating: Heat Pump Cooling: Electric; Heat Pump Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: None Parking Features: Carport; 1 Space/Unit Road Surface Type: Gravel; Dirt; Asphalt Owner Pays: Water; Trash Collection Tenant Pays: Electricity Source of Fincl Data: Owner Lockbox Type: None Existing 1st Loan: 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: Adjustable/Graduated Existing 2nd Loan Terms: Non Assumable Existing 3rd Loan: Treat as Free&Clear Existing 3rd Loan Type: Not Applicable Existing 3rd Loan Terms: Not Applicable Existing Othr Ln Trm: Not Applicable New Financing: VA; FHA; Conventional Environmental: None

Listing Office: AZ Brokerage Holdings, LLC

Last Updated: August - 14 - 2025