750 E 1ST Avenue, Mesa, AZ 85204
$2,700,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$2,700,000
List Date:
2/03/2022
Last Modified:
4/05/2025
Overview
Description
Listing Details MLS# 6350374
Location, Tax & Legal
- Map Code/Grid
- R39
- House Number
- 750
- Compass
- E
- Street Name
- 1ST
- St Suffix
- Avenue
- City/Town Code
- Mesa
- State/Province
- AZ
- Zip Code
- 85204
- Zip4
- 1079
- Country
- US
- County Code
- Maricopa
- Subdivision
- CHULA VISTA AMD LOTS 11-13 BLK 4
- Assessor Number
- 138-28-079
- Tax Year
- 2021
- Assessor's Map #
- 28
- Legal Description (Abbrev)
- LOT 10 BLOCK 2 CHULA VISTA AMD LOTS 11-13 BLK 4 MCR 003737
- Assessor's Parcel #
- 79
- Add'l Parcels
- Yes
- Tax Municipality
- Mesa
- Census Tract
- 421501
- Taxes
- 2665
- Legal
- LOT 10 BLOCK 2 CHULA VISTA AMD LOTS 11-13 BLK 4 MCR 003737
- Marketing Name
- 16 Apartments in Downtown
Contract Info
- Ownership
- Fee Simple
General Property Description
- Lot Size Dimensions
- IRR
- Year Built
- 1978
- Uncvrd Parking Spcs
- 22
- Total # of Units
- 16
- # of Buildings
- 2
- Zoning
- MF or FBC T4
- Elementary School District
- Mesa Unified District
- High School District
- Mesa Unified District
Remarks Misc
- Cross Street
- Main Street and Horne
- Directions
- Head West on Mesa's New Main Street to Horne, South on Horne and the property is on the North West corner of Horne and 1st AVE (500' South of Main Street).
Status Change Info
- Off Market Date
- 2022-04-02
- Under Contract Date
- 2022-03-11
- Close of Escrow Date
- 2022-04-05
Legal Info
- Township
- 1N
- Range
- 5E
- Section
- 23
- Block
- 2
- Lot Number
- 10
More Information
Efficiency Units
- # Efficiency Units
- 9
- Avg Rent
- 850
- Avg SqFt
- 300
- # Baths
- Yes
1 Bedroom Units
- # 1 Bedroom Units
- 7
- Avg Rent
- 950
- Avg SqFt
- 400
- # Baths
- Yes
Income Expenses
- Gross Annual Sch Inc
- 179304
- Net Operating Income
- 141265
Sold Info
- Loan Type
- Cash to Loan
- Payment Type
- Fixed
- Closing Cost Split
- Normal - N
- Buyer Concession $/%
- $
- Seller Concession $/%
- $
- Buyer Concession to Seller
- 0
- Seller Concession to Buyer
- 0
Project Type
- 13 - 24 Units
- Yes
Construction
- Block
- Yes
Const - Finish
- Painted
- Yes
- Stucco
- Yes
Roofing
- Composition
- Yes
- Foam
- Yes
Floors
- Vinyl
- Yes
- Ceramic Tile
- Yes
Sale Includes
- Land & Building
- Yes
- Personal Property
- Yes
Income & Expenses
- Annual Elec Exp
- 0
- Annual Gas Exp
- 0
- Annual Ins Exp
- 4948
- Annual Land Lse Exp
- 0
- Annual Landscape Exp
- 600
- Annual Legal & Acctg
- 0
- Annual Maint Exp
- 6000
- Annual Mgmt Exp
- 6000
- Annual Trash Exp
- 0
- Annual Wtr/Swr Exp
- 10000
- Owner Association
- No
- Annual Ownr Asoc Fee
- 0
- Annual PAD Fee
- 0
- Annual Rplcmnt Rsrvs
- 0
- Operating Exp
- 30213
- Other Income
- 1200
- Vacancy Allowance
- 0.05
- Adjusted Gross Inc
- 171478.8
- Total Monthly Rental Income
- 14942
Pmt & Rate Info
- Cap Rate
- 5.14
- Down Payment
- 0
- Equity
- 2750000
- Down Payment %
- 0
- Monthly Payments
- 0
- Total Owed
- 0
- Assessment Balance
- 0
Showing Notification Methods
- Text
- Yes
- Yes
- Phone Call
- Yes
Lockbox Type
- None
- Yes
Community Features
- No Pool
- Yes
Heating
- Electric
- Yes
- Individual
- Yes
Cooling
- Ceiling Fan(s)
- Yes
- Central Air
- Yes
- Electric
- Yes
- Individual
- Yes
Exterior Amenities
- Desert Landscaping
- Yes
- Fenced
- Yes
- Partially Fenced
- Yes
- Security Light(s)
- Yes
Interior Features
- Unfurnished
- Yes
Tenant Pays
- Electricity
- Yes
- Cable TV
- Yes
Appliances Included
- Refrigerator
- Yes
- Free-Standing Range
- Yes
- W/D Hookup
- Yes
Road Surface Type
- Asphalt
- Yes
Source of Fincl Data
- Owner
- Yes
- Books Shwn Accpt Ofr
- Yes
Water Source
- City Franchise
- Yes
- Master Meter
- Yes
Sewer
- Sewer - Public
- Yes
Parking Features
- Free
- Yes
- >1 Space Per Unit
- Yes
Electric
- City Electric
- Yes
- Individual Meter
- Yes
Gas
- None
- Yes
Owner Pays
- Water
- Yes
- Sewer
- Yes
- Trash Collection
- Yes
- Landscaping
- Yes
New Financing
- Conventional
- Yes
- No Carry
- Yes
- 1031 Exchange
- Yes
Special
- Owner/Agent
- 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
2 Bedroom Units
- Avg Rent
- 0
3 Bedrooms Units
- Avg Rent
- 0
4 Bedrooms Units
- Avg Rent
- 0
Property Features
Project Type:
13 - 24 Units
Construction:
Block
Const - Finish:
Painted; Stucco
Roofing:
Composition; Foam
Floors:
Vinyl; Ceramic Tile
Sale Includes:
Land & Building; Personal Property
Community Features:
No Pool
Exterior Amenities:
Desert Landscaping; Fenced; Partially Fenced; Security Light(s)
Interior Features:
Unfurnished
Appliances Included:
Free-Standing Range; Refrigerator; W/D Hookup
Heating:
Individual
Cooling:
Ceiling Fan(s); Electric; Individual; Central Air
Water Source:
City Franchise; Master Meter
Sewer:
Sewer - Public
Electric:
City Electric; Individual Meter
Gas:
None
Parking Features:
>1 Space Per Unit; Free
Road Surface Type:
Asphalt
Owner Pays:
Water; Trash Collection; Landscaping
Tenant Pays:
Electricity; Cable TV
Source of Fincl Data:
Owner; Books Shwn Accpt Ofr
Special:
Owner/Agent
Showing Notification Methods:
Text; Email; 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:
Conventional; No Carry; 1031 Exchange
Environmental:
None
Listing Office:
Cluff Real Estate LLC
Last Updated: April - 05 - 2025
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