6407 E BUTTE Street, Mesa, AZ 85205 (MLS# 6565443)

6407 E BUTTE Street, Mesa, AZ 85205

$1,050,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $1,050,000 Last Modified: 6/27/2024

Overview

Description

Incredible Investment opportunity in Velda Rose Estates, This well maintained 6-unit property is in a highly desirable 55+ community adjacent to the clubhouse and swimming pool. The property consists of two- 900 sq ft two bedroom one bathroom units and four one bedroom one bathroom units two at 750 sq ft and two at 700 sq ft. with on-site laundry. The pride of ownership is evident and the current owners recently replaced the roof, flooring ,a/c units, exhaust and interior paint making this property standout. Drive by only do not disturb the tenants.

Listing Details MLS# 6565443

Location, Tax & Legal

Map Code/Grid: R41
House Number: 6407
Compass: E
Street Name: BUTTE
St Suffix: Street
City/Town Code: Mesa
State/Province: AZ
Zip Code: 85205
Zip4: 8429
Country: US
County Code: Maricopa
Assessor Number: 141-61-067-A
Tax Year: 2022
Assessor's Map #: 61
Assessor's Parcel #: 67
Assessor Parcel Ltr: A
Add'l Parcels: No
Tax Municipality: Mesa
Taxes: 2335
Legal: VELDA ROSE ESTATES EAST MCR 123/47 LOT 268 & W 42 F OF LOT 269
Marketing Name: Velda Rose 6 Unit

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 145x120x125x113
Year Built: 1970
Uncvrd Parking Spcs: 6
Total # of Units: 6
# of Buildings: 2
Zoning: R-3
Flood Zone: No
Elementary School: Adult
Jr. High School: Adult
High School: Adult

Remarks Misc

Cross Street: University & 64th St.
Directions: South to Butte property on corner

Status Change Info

Off Market Date: 2023-06-11
Under Contract Date: 2023-06-09
Close of Escrow Date: 2023-08-16

Legal Info

Lot Number: 268 & 269

More Information

Income Expenses

Gross Annual Sch Inc: 85500
Net Operating Income: 63542

1 Bedroom Units

# 1 Bedroom Units: 4
Avg Rent: 1088
Avg SqFt: 725
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: 2
Avg Rent: 1388
Avg SqFt: 900
# Baths: Yes

Sold Info

Loan Type: Other
Payment Type: Other
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession to Buyer: 1500
Seller Concession $/%: $
Buyer Concession to Seller: 0

Project Type

5 - 12 Units: Yes

Construction

Block: Yes

Const - Finish

Painted: Yes

Roofing

Tile: Yes
Foam: Yes

Floors

Vinyl: Yes

Sale Includes

Land & Building: Yes

Income & Expenses

Owner Association: Yes
Annual Ownr Asoc Fee: 700
Operating Exp: 3035
Other Income: 0
Vacancy Allowance: 0.03
Adjusted Gross Inc: 82935

Pmt & Rate Info

Cap Rate: 6.05
Equity: 1050000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0

Showing Notification Methods

Phone Call: Yes

Lockbox Type

None: Yes

Community Features

Pool: Yes
Clubhouse: Yes
Shuffle Brd/Lawn Bwl: Yes

Heating

Natural Gas: Yes

Cooling

Ceiling Fan(s): Yes
Heat Pump: Yes

Exterior Amenities

Desert Landscaping: Yes
Cable TV Available: Yes
Patio/Balcony: Yes
Separate Storage: Yes
Security Light(s): Yes

Interior Features

Unfurnished: Yes

Tenant Pays

Gas: Yes
Electricity: Yes
Cable TV: Yes

Appliances Included

Refrigerator: Yes
Free-Standing Range: Yes

Road Surface Type

Asphalt: Yes
Concrete: Yes

Source of Fincl Data

Owner: Yes

Water Source

City Franchise: Yes

Sewer

Septic Tank: Yes

Parking Features

>1 Space Per Unit: Yes
Paved: Yes

Electric

SRP: Yes

Gas

SW Gas: Yes

Owner Pays

Water: Yes
Sewer: Yes
Trash Collection: Yes

New Financing

Conventional: Yes
1031 Exchange: Yes

Existing 1st Loan

Treat as Free&Clear: Yes

Reports/Disclosures

Seller Prop Disc Stm: Yes

Environmental

None: Yes

Efficiency Units

Avg Rent: 0

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: 5 - 12 Units Construction: Block Const - Finish: Painted Roofing: Tile; Foam Floors: Vinyl Sale Includes: Land & Building Community Features: Pool; Clubhouse; Shuffle Brd/Lawn Bwl Exterior Amenities: Desert Landscaping; Cable TV Available; Patio/Balcony; Separate Storage; Security Light(s) Interior Features: Unfurnished Appliances Included: Free-Standing Range; Refrigerator Heating: Natural Gas Cooling: Ceiling Fan(s); Heat Pump Water Source: City Franchise Sewer: Septic Tank Electric: SRP Gas: SW Gas Parking Features: >1 Space Per Unit; Paved Road Surface Type: Asphalt; Concrete Owner Pays: Water; Trash Collection Tenant Pays: Electricity; Gas; Cable TV Source of Fincl Data: Owner Showing Notification Methods: Phone Call Lockbox Type: None Existing 1st Loan: Treat as Free&Clear New Financing: Conventional; 1031 Exchange Environmental: None

Listing Office: Russ Lyon Sotheby's International Realty

Last Updated: June - 27 - 2024