6723 E AVALON Street, Mesa, AZ 85205
$950,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$950,000
List Date:
11/26/2021
Last Modified:
3/24/2025
Description
Now Updated! Fantastic Opportunity to Own 8 Units in East Mesa. This is Cash Flowing Asset with the Opportunity to Renovate One Down unit and Raise Rents. This property consists of two 1 bedroom units and Six Studio units. This is a stable apartment with tons of upside. DO NOT DISTURB TENANTS!
More Information MLS# 6323917
Contract Info
Ownership: Fee Simple
Current Price: $950,000
Sold Price: $950,000
Status: Closed
List Date: 2021-11-20
Location, Tax & Legal
Assessor's Map #: 58
Legal Description (Abbrev): LOT 6 BLOCK 17 DESERT WELLS AMD MCR 003803
Assessor's Parcel #: 168
Add'l Parcels: No
Tax Municipality: Mesa
Census Tract: 420214
Taxes: 1450
Legal: LOT 6 BLOCK 17 DESERT WELLS AMD MCR 003803
Marketing Name: Avalon Apartments
Map Code/Grid: R41
House Number: 6723
Compass: E
Street Name: AVALON
St Suffix: Street
City/Town Code: Mesa
State/Province: AZ
Zip Code: 85205
Zip4: 9033
County Code: Maricopa
Subdivision: DESERT WELLS AMD
Assessor Number: 141-58-168
Tax Year: 2020
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 8
Lot Size Dimensions: 60x160
Total # of Units: 8
Elementary School District: Mesa Unified District
High School District: Mesa Unified District
Year Built: 1950
Zoning: LC
Legal Info
Range: 6E
Section: 24
Township: 1N
Block: 17
Lot Number: 6
Project Type
5 - 12 Units: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Foam: 1
Floors
Ceramic Tile: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 8413.6
Annual Gas Exp: 0
Annual Ins Exp: 3323
Annual Landscape Exp: 900
Annual Maint Exp: 450
Annual Wtr/Swr Exp: 4530.41
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 19067.01
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 72925.8
Pmt & Rate Info
Cap Rate: 5.52
Equity: 975000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Text: 1
Email: 1
Phone Call: 1
Lockbox Type
None: 1
Community Features
Other: 1
Heating
Window/Wall Unit(s): 1
Cooling
Window/Wall Unit: 1
Tenant Pays
Cable TV: 1
Appliances Included
Microwave: 1
Refrigerator: 1
Free-Standing 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
Master Meter: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
Electric: 1
Trash Collection: 1
Landscaping: 1
New Financing
Conventional: 1
1031 Exchange: 1
Special
Owner/Agent: 1
Existing 1st Loan
Private: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Efficiency Units
# Efficiency Units: 6
Avg Rent: 964
Avg SqFt: 375
# Baths: 1
1 Bedroom Units
# 1 Bedroom Units: 2
Avg Rent: 1032
Avg SqFt: 550
# Baths: 1
2 Bedroom Units
Avg Rent: 0
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Conventional
Loan Years: 30
Closing Cost Split: Normal - N
Payment Type: Fixed
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 18300
Seller Concession $/%: $
Remarks Misc
Cross Street: Power and Main
Directions: South on Power to Avalon, west to the property on the south side of the road
Geo Lat: 33.416569
Geo Lon: -111.686541
Status Change Info
Off Market Date: 2022-07-08
Under Contract Date: 2022-06-30
Close of Escrow Date: 2022-08-22
Sold Price: $950,000
Income Expenses
Gross Annual Sch Inc: 76764
Net Operating Income: 53858
Property Features
Project Type: 5 - 12 Units
Construction: Block
Const - Finish: Painted
Roofing: Composition; Foam
Floors: Ceramic Tile
Sale Includes: Land & Building
Community Features: Other
Appliances Included: Free-Standing Range; Refrigerator; Microwave
Heating: Window/Wall Unit(s)
Cooling: Window/Wall Unit
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP; Master Meter
Gas: None
Parking Features: 1 Space/Unit
Road Surface Type: Asphalt
Owner Pays: Water; Electric; Trash Collection; Landscaping
Tenant Pays: Cable TV
Source of Fincl Data: Owner
Special: Owner/Agent
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
Existing 1st Loan: Private
New Financing: Conventional; 1031 Exchange
Environmental: None
Documents
Cashflow Analysis - Actual ›
Listing Office:
My Home Group Real Estate
Last Updated: March - 24 - 2025
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