846 N REVERE, Mesa, AZ 85201
$820,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$820,000
Last Modified:
11/17/2024
Description
Incredible Investment Opportunity in prime Mesa location! This fantastic 4-plex boasts one spacious 3-bedroom, 2-bath unit with an attached garage and three roomy 2-bedroom, 2-bath units, each featuring an in-unit washer/dryer. Ideal for long, short-term or mid-term rental options or an owner-occupant looking to build equity while generating income. The 2-bedroom units come with covered carport parking and extra storage, adding extra convenience for tenants. With all units currently occupied and room for rental increases, this property is primed for solid returns. Each unit is individually metered for electricity, and recent updates include a new AC unit, two new water heaters, and a fresh exterior paint job. Located near popular destinations like the Cubs stadium, Tempe Town Lake, (MORE
Supplements: schools, shopping, and entertainment, this property is a great investment opportunity. Note: Drive-by only - no interior showings until after contract acceptance. Please respect tenant privacy and do not disturb occupants.
More Information MLS# 6775879
Contract Info
Ownership: Fee Simple
Current Price: $820,000
Sold Price: $820,000
Status: Closed
List Date: 2024-10-25
Location, Tax & Legal
Assessor's Map #: 17
Legal Description (Abbrev): LOT 14 HERITAGE ESTATES MCR 024706
Assessor's Parcel #: 310
Add'l Parcels: No
Tax Municipality: Mesa
Census Tract: 421102
Taxes: 2406
Legal: LOT 14 HERITAGE ESTATES MCR 024706
Marketing Name: unknown
House Number: 846
Compass: N
Street Name: REVERE
St Suffix: --
City/Town Code: Mesa
State/Province: AZ
Zip Code: 85201
Zip4: 7630
County Code: Maricopa
Subdivision: HERITAGE ESTATES
Assessor Number: 135-17-310
Tax Year: 2024
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 0
Lot Size Dimensions: 131.90x64.26x132.34x64.27
Total # of Units: 4
Elementary School District: Mesa Unified District
High School District: Mesa Unified District
Elementary School: Emerson Elementary School
Jr. High School: Carson Junior High School
High School: Westwood High School
Year Built: 1984
Zoning: Multi
Legal Info
Range: 5E
Section: 16
Township: 1N
Lot Number: 14
Project Type
Four Plex: 1
Construction
Wood Frame: 1
Const - Finish
Stucco: 1
Roofing
Rolled: 1
Floors
Vinyl: 1
Ceramic Tile: 1
Sale Includes
Building(s) Only: 1
Income & Expenses
Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 1820
Annual Land Lse Exp: 0
Annual Landscape Exp: 960
Annual Legal & Acctg: 0
Annual Maint Exp: 1929
Annual Mgmt Exp: 0
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 5664
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 12779
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 65400
Pmt & Rate Info
Cap Rate: 6.47
Down Payment: 0
Equity: 850000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Showing Notification Methods
Showing Service: Aligned Showings
Lockbox Type
None: 1
Community Features
Other: 1
See Remarks: 1
Heating
Electric: 1
Cooling
Electric: 1
Tenant Pays
Electricity: 1
Cable TV: 1
Appliances Included
Dishwasher: 1
Disposal: 1
Free-Standing Range: 1
W/D Hookup: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Garage: 1
Carport: 1
Attached: 1
Electric
SRP: 1
Individual Meter: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
New Financing
Conventional: 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Non Assumable: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
None: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 3
Avg Rent: 1267
Avg SqFt: 950
# Baths: 2
3 Bedrooms Units
# 3 Bedroom Units: 1
Avg Rent: 1650
Avg SqFt: 1170
# Baths: 2
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Other
Loan Years: 30
Closing Cost Split: Normal - N
Payment Type: Other
Buyer Concession to Seller: 0
Buyer Concession $/%: %
Seller Concession to Buyer: 0
Seller Concession $/%: %
Remarks Misc
Cross Street: Country Club/University
Directions: Go west on Rio Salado from Country Club, N. Revere is about half a mile west on Country Club. The property is on the west side of the street.
Geo Lat: 33.430715
Geo Lon: -111.847796
Status Change Info
Off Market Date: 2024-10-29
Under Contract Date: 2024-10-28
Close of Escrow Date: 2024-11-15
Sold Price: $820,000
Income Expenses
Gross Annual Sch Inc: 65400
Net Operating Income: 55028
Property Features
Project Type: Four Plex
Construction: Wood Frame
Const - Finish: Stucco
Roofing: Rolled
Floors: Vinyl; Ceramic Tile
Sale Includes: Building(s) Only
Community Features: Other; See Remarks
Appliances Included: Free-Standing Range; Dishwasher; Disposal; W/D Hookup
Cooling: Electric
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP; Individual Meter
Gas: None
Parking Features: Garage; Carport; Attached
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity; Cable TV
Source of Fincl Data: Owner
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
Existing 1st Loan Type: Not Applicable
Existing 1st Loan Terms: Non Assumable
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
Environmental: None
Listing Office:
Real Broker
Last Updated: November - 17 - 2024
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