5965 E NORLAND Street, Mesa, AZ 85215 (MLS# 6792394)

5965 E NORLAND Street, Mesa, AZ 85215

$825,000

Unit #103: From Entrance Door Looking Towards the Kitchen & Master Bedroom!

#103: GORGEOUS Apartment and a GREAT Tenant!

#103: Remodeled Kitchen with Built In Microwave!

#103: Guest Bedroom with Ceiling Fans & Vinyl Plank Flooring!

#103: Water Heater & Washer's & Dryer's Are Owner's & They Convey with the Sale!

#102: Modern Kitchen Cabinets & Counter Tops with a Built In Microwave!

#102: Guest Bathroom with Modern Vanity!!

#102: Private Gated Yard with Separate Storage Room!

#201: Modern Kitchen Cabinets with Built In Microwave & Glass Top Stove!

#201: Guest Bedroom with Vinyl Plank Flooring & Ceiling Fan!

#201: Guest Bathroom with Low Flow Toilet & Upgraded Fixtures!

#201: Master Bedroom with Master Bathroom!

#201: All Units Have Washer's & Dryers That Are Seller Owned & Convey with the Building!

#201: HUGE Private Balcony with Storage Room!

#201: Another View of Balcony with Gate!

#101: 1 Bed & 1 Bath is the Only Apartment Left to Be Remodeled!

#101: Water Heater and the Washer & Dryer Are in the Storage Room!

Great Curb Appeal!! NEW Roof in 1/2022!!

Separate Yard Next to #101 & #103: Possible Extra $$$ Potential!

Back of Building Where #101; #102 & #201 Are Located. Separate Paved Road in Back of the Building with Parking for the Units!

Another View of the Back of the Building!

Property Type: Multiple Dwellings Status: Closed

Current Price: $825,000 Last Modified: 1/15/2025

Overview

Description

LOCATION, LOCATION, LOCATION!! Great Investment Property, Fully Rented, Very Near the Top of the Market Rents with Room to Increase. Three Out of the Four Units Have Been Remodeled with New Flooring, New Kitchen Cabinets & Counter Tops, Vanities & Fixtures! NEW Roof in 2022; New AC Unit for #103 in 9/2021; Great Tenants, Property Management & Rents: #101 (1 Bed/1 Bath; $825); #102 (2/2;$1275); #103 (3/2;$1550); #201 (2/2; $1300); Excellent Value in NE Mesa, Near Restaurants, Shopping, Bus Lines, Fitness Centers & the 202 Red Mountain Freeway. The Three Ground Floor Apartments Have Private Gated Yards and the ONLY Upstairs Unit (#201) Has a HUGE PRIVATE Balcony!

Listing Details MLS# 6792394

Location, Tax & Legal

House Number: 5965
Compass: E
Street Name: NORLAND
St Suffix: Street
City/Town Code: Mesa
State/Province: AZ
Zip Code: 85215
Zip4: 1423
Country: US
County Code: Maricopa
Subdivision: LOMA VISTA
Assessor Number: 141-80-391
Tax Year: 2024
Assessor's Map #: 80
Legal Description (Abbrev): LOT 12 LOMA VISTA MCR 024424
Assessor's Parcel #: 391
Add'l Parcels: No
Tax Municipality: Mesa
Census Tract: 420206
Taxes: 2249
Legal: LOT 12 LOMA VISTA MCR 024424
Marketing Name: GREAT INVESTMENT

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 8918
Year Built: 1985
Uncvrd Parking Spcs: 6
Total # of Units: 4
# of Buildings: Yes
Zoning: RM-3
Elementary School District: Mesa Unified District
High School District: Mesa Unified District

Remarks Misc

Cross Street: Recker & McDowell
Directions: South On Recker to Norland; West On Norland to SE Corner of Recker & Norland

Status Change Info

Off Market Date: 2025-01-15
Under Contract Date: 2024-12-09
Close of Escrow Date: 2025-01-14

Legal Info

Township: 1N
Range: 6E
Section: 2
Lot Number: 12

More Information

Income Expenses

Gross Annual Sch Inc: 59700
Net Operating Income: 46886

Showing Notification Methods

Showing Service: No Showing Service Used
Text: Yes
Phone Call: Yes

1 Bedroom Units

# 1 Bedroom Units: Yes
Avg Rent: 825
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: 2
Avg Rent: 1287.5
Avg SqFt: 900
# Baths: 4

3 Bedrooms Units

# 3 Bedroom Units: Yes
Avg Rent: 1550
Avg SqFt: 1100
# Baths: 2

Sold Info

Loan Type: Conventional
Loan Years: 30
Payment Type: Fixed
Closing Cost Split: Seller Assist - A
Buyer Concession $/%: %
Seller Concession to Buyer: Yes
Seller Concession $/%: %
Buyer Concession to Seller: 0

Project Type

Tri-Plex: Yes
Four Plex: Yes
5 - 12 Units: Yes

Construction

Wood Frame: Yes

Const - Finish

Painted: Yes
Stucco: Yes

Roofing

Tile: Yes
Rolled: Yes

Floors

Vinyl: Yes
Wood: Yes
Ceramic Tile: Yes

Sale Includes

Building(s) Only: Yes
Laundry Equipment: Yes

Income & Expenses

Annual Ins Exp: 2558
Annual Landscape Exp: 2100
Annual Mgmt Exp: 4776
Annual Wtr/Swr Exp: 3380
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 15063
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 59700

Pmt & Rate Info

Cap Rate: 5.62
Equity: 835000
Down Payment %: 25
Monthly Payments: 360
Total Owed: 0

Payment Includes

Principal: Yes
Interest: Yes

Lockbox Type

None: Yes

Community Features

No Pool: Yes

Heating

Ceiling: Yes
Heat Pump: Yes

Cooling

Ceiling Fan(s): Yes
Central Air: Yes
Electric: Yes
Heat Pump: Yes

Exterior Amenities

Desert Landscaping: Yes
Fenced: Yes
Sidewalk(s): Yes
Patio/Balcony: Yes
Separate Storage: Yes

Interior Features

Unfurnished: Yes
Vertical Blinds: Yes
Mini Blinds: Yes

Tenant Pays

Electricity: Yes
Cable TV: Yes

Appliances Included

Dishwasher: Yes
Disposal: Yes
Microwave: Yes
Refrigerator: Yes
Free-Standing Range: Yes
Washer/Dryer: Yes

Road Access Type

Dedicated Street: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes
Sewer-In & Connected: Yes

Parking Features

On Street: Yes
>1 Space Per Unit: Yes

Electric

SRP: Yes
Individual Meter: Yes

Gas

None: Yes

Owner Pays

Water: Yes
Sewer: Yes
Trash Collection: Yes
Landscaping: Yes

New Financing

Cash: Yes
Conventional: Yes
1031 Exchange: 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

Not Applicable: Yes

Existing 2nd Loan Terms

Not Applicable: Yes

Existing 3rd Loan

Treat as Free&Clear: Yes

Existing 3rd Loan Type

Not Applicable: Yes

Reports/Disclosures

Seller Prop Disc Stm: Yes

Existing 3rd Loan Terms

Not Applicable: Yes

Environmental

None: Yes

Existing Othr Ln Trm

Not Applicable: Yes

Efficiency Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: Tri-Plex; Four Plex; 5 - 12 Units Construction: Wood Frame Const - Finish: Painted; Stucco Roofing: Tile; Rolled Floors: Vinyl; Wood; Ceramic Tile Sale Includes: Building(s) Only; Laundry Equipment Payment Includes: Principal; Interest Community Features: No Pool Exterior Amenities: Desert Landscaping; Fenced; Sidewalk(s); Patio/Balcony; Separate Storage Interior Features: Unfurnished; Vertical Blinds; Mini Blinds Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer Heating: Ceiling; Heat Pump Cooling: Ceiling Fan(s); Electric; Heat Pump; Central Air Water Source: City Franchise Sewer: Sewer - Public; Sewer-In & Connected Electric: SRP; Individual Meter Gas: None Parking Features: On Street; >1 Space Per Unit Road Access Type: Dedicated Street Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity; Cable TV Source of Fincl Data: Owner Showing Notification Methods: Text; Phone Call 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: Not Applicable Existing 2nd Loan Terms: Not Applicable 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: Cash; Conventional; 1031 Exchange Environmental: None

Listing Office: Duckett Management & Real Estate

Last Updated: January - 15 - 2025