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
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.
More Information MLS# 6565443
Contract Info
Ownership: Fee Simple
Current Price: $1,050,000
Sold Price: $1,050,000
Status: Closed
List Date: 2023-06-05
Location, Tax & Legal
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
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
County Code: Maricopa
Assessor Number: 141-61-067-A
Tax Year: 2022
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 6
Lot Size Dimensions: 145x120x125x113
Flood Zone: No
Total # of Units: 6
Elementary School: Adult
Jr. High School: Adult
High School: Adult
Year Built: 1970
Zoning: R-3
Project Type
5 - 12 Units: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Tile: 1
Foam: 1
Floors
Vinyl: 1
Sale Includes
Land & Building: 1
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: 1
Lockbox Type
None: 1
Community Features
Pool: 1
Clubhouse: 1
Shuffle Brd/Lawn Bwl: 1
Heating
Natural Gas: 1
Cooling
Ceiling Fan(s): 1
Heat Pump: 1
Exterior Amenities
Desert Landscaping: 1
Cable TV Available: 1
Patio/Balcony: 1
Separate Storage: 1
Security Light(s): 1
Interior Features
Unfurnished: 1
Tenant Pays
Gas: 1
Electricity: 1
Cable TV: 1
Appliances Included
Refrigerator: 1
Free-Standing Range: 1
Road Surface Type
Asphalt: 1
Concrete: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Septic Tank: 1
Parking Features
>1 Space Per Unit: 1
Paved: 1
Electric
SRP: 1
Gas
SW Gas: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
New Financing
Conventional: 1
1031 Exchange: 1
Existing 1st Loan
Treat as Free&Clear: 1
Reports/Disclosures
Seller Prop Disc Stm: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 4
Avg Rent: 1088
Avg SqFt: 725
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 2
Avg Rent: 1388
Avg SqFt: 900
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Other
Closing Cost Split: Normal - N
Payment Type: Other
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 1500
Seller Concession $/%: $
Remarks Misc
Cross Street: University & 64th St.
Directions: South to Butte property on corner
Geo Lat: 33.421794
Geo Lon: -111.692872
Status Change Info
Off Market Date: 2023-06-11
Under Contract Date: 2023-06-09
Close of Escrow Date: 2023-08-16
Sold Price: $1,050,000
Legal Info
Lot Number: 268 & 269
Income Expenses
Gross Annual Sch Inc: 85500
Net Operating Income: 63542
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
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