860 E BROWN Road 25-28, Mesa, AZ 85203 (MLS# 6939892)

860 E BROWN Road 25-28, Mesa, AZ 85203

$835,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $835,000 Last Modified: 12/02/2025

Overview

Description

Well-Maintained 4-Unit Asset | Favorable HOA Structure | Strong Upside Potential HOA is responsible for Sewer / Trash / Landscaping/Pool Discover an exceptional multifamily investment opportunity in the thriving East Valley at 360 E Brown Rd, Mesa AZ. Located within the desirable Sun Gardens Apartments community, this property combines stability, tenant appeal, and significant income growth potential—ideal for investors seeking dependable returns with low management demands. Property Overview Originally built in 1980, this well-maintained four-plex features a diverse unit mix designed for long-term occupancy and operational flexibility: (3) Large 2-Bedroom / 1.5-Bathroom Townhome-Style Units

Supplements: Well-Maintained 4-Unit Asset | Favorable HOA Structure | Strong Upside Potential Discover an exceptional multifamily investment opportunity in the thriving East Valley at 360 E Brown Rd, Mesa AZ. Located within the desirable Sun Gardens Apartments community, this property combines stability, tenant appeal, and significant income growth potentiali ... (Read more)

Listing Details MLS# 6939892

Location, Tax & Legal

House Number: 860
Compass: E
Street Name: BROWN
St Suffix: Road
City/Town Code: Mesa
State/Province: AZ
Zip Code: 85203
Country: US
County Code: Maricopa
Subdivision: SUN GARDENS REPLAT
Assessor Number: 137-09-338
Tax Year: 2025
Unit #: 25-28
Assessor's Map #: 9
Legal Description (Abbrev): LOT 18 SUN GARDENS REPLAT MCR 062030
Assessor's Parcel #: 338
Add'l Parcels: No
Tax Municipality: Mesa
Census Tract: 420901
Taxes: 1653
Legal: Legal Description by title to govern
Marketing Name: Fourplex

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 3,804
Year Built: 1980
Uncvrd Parking Spcs: 4
Total # of Units: 4
# of Buildings: Yes
Zoning: RM4
Flood Zone: TBD
Elementary School District: Mesa Unified District
High School District: Mesa Unified District

Remarks Misc

Cross Street: Brown & Stapley
Directions: From the intersection of Country Club Drive (AZ-87) and Brown Road, head east on Brown Road for approximately 0.3 miles. The Sun Gardens Apartments community will be on your right (south) side just past Mesa Drive. Turn right (south) into the community entrance at 360 E Brown Rd and follow the internal drive to locate the property. Visitor unassigned parking are conveniently available near entry

Status Change Info

Off Market Date: 2025-10-30
Under Contract Date: 2025-10-30
Close of Escrow Date: 2025-12-01

Legal Info

Township: 1N
Range: 5E
Section: 14
Lot Number: 18

More Information

Income Expenses

Gross Annual Sch Inc: 73188
Net Operating Income: 60661

Showing Notification Methods

Showing Service: Aligned Showings
Text: Yes
Email: Yes
Phone Call: Yes

2 Bedroom Units

# 2 Bedroom Units: 3
Avg Rent: 1433
Avg SqFt: 924
# Baths: 2

3 Bedrooms Units

# 3 Bedroom Units: Yes
Avg Rent: 1525
Avg SqFt: 1270
# Baths: 2

Sold Info

Loan Type: Conventional
Loan Years: 30
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Buyer Concession to Seller: 0
Seller Concession to Buyer: 0

Project Type

Four Plex: Yes

Construction

Wood Frame: Yes

Const - Finish

Painted: Yes
Stucco: Yes

Roofing

Composition: Yes

Floors

Wood: Yes
Ceramic Tile: Yes
Carpet: Yes

Sale Includes

Land & Building: Yes
Personal Property: Yes
Laundry Equipment: Yes

Income & Expenses

Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 4834
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 1250
Annual Mgmt Exp: 0
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 0
Owner Association: Yes
Annual Ownr Asoc Fee: 5880
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 13617
Other Income: 5880
Vacancy Allowance: 0.03
Adjusted Gross Inc: 76695.96
Total Monthly Rental Income: 5824

Pmt & Rate Info

Cap Rate: 7.18
Down Payment: 0
Equity: 845000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0

Lockbox Type

None: Yes

Community Features

Pool: Yes
See Remarks: Yes

Heating

Heat Pump: Yes
Individual: Yes

Cooling

Ceiling Fan(s): Yes
Heat Pump: Yes
Individual: Yes

Exterior Amenities

Landscape Water System: Yes
Green Landscaping: Yes
Cable TV Available: Yes
Sidewalk(s): Yes
Patio/Balcony: Yes
Separate Storage: Yes
Security Light(s): Yes

Interior Features

Fire/Smoke Alarm(s): Yes
Mini Blinds: Yes
Breakfast Bar: Yes

Tenant Pays

Gas: Yes
Electricity: Yes
Cable TV: Yes
Other (See Remarks): Yes

Appliances Included

Dishwasher: Yes
Disposal: Yes
Microwave: Yes
Refrigerator: Yes
Built-In Range: Yes
W/D Hookup: Yes

Road Access Type

City Street: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes

Road Responsibility

City Maintained Road: Yes

Water Source

City Franchise: Yes
Master Meter: Yes

Sewer

Sewer - Public: Yes

Parking Features

Garage: Yes
Free: Yes
Paved: Yes
Garage Door Opener: Yes
Add'l Parking Avail: Yes
Attached Garage: Yes

Electric

SRP: Yes
Individual Meter: Yes

Gas

SW Gas: Yes
Individual Meter: Yes

Owner Pays

Water: Yes
Sewer: Yes
Trash Collection: Yes

New Financing

Cash: Yes
VA: Yes
Conventional: Yes
FHA: Yes
No Carry: 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
APOD/Backup Avaible: Yes
Sch of Personal Prop: Yes

Existing 3rd Loan Terms

Not Applicable: Yes

Environmental

None: Yes

Existing Othr Ln Trm

Not Applicable: Yes

Efficiency Units

Avg Rent: 0

1 Bedroom Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: Four Plex Construction: Wood Frame Const - Finish: Painted; Stucco Roofing: Composition Floors: Wood; Ceramic Tile; Carpet Sale Includes: Land & Building; Personal Property; Laundry Equipment Community Features: Pool; See Remarks Exterior Amenities: Landscape Water System; Green Landscaping; Cable TV Available; Sidewalk(s); Patio/Balcony; Separate Storage; Security Light(s) Interior Features: Fire/Smoke Alarm(s); Mini Blinds; Breakfast Bar Appliances Included: Built-In Range; Refrigerator; Dishwasher; Disposal; Microwave; W/D Hookup Heating: Individual; Heat Pump Cooling: Ceiling Fan(s); Heat Pump; Individual Water Source: City Franchise; Master Meter Sewer: Sewer - Public Electric: SRP; Individual Meter Gas: SW Gas; Individual Meter Parking Features: Garage; Garage Door Opener; Add'l Parking Avail; Free; Paved; Attached Garage Road Access Type: City Street Road Surface Type: Asphalt Road Responsibility: City Maintained Road Owner Pays: Water; Trash Collection Tenant Pays: Electricity; Gas; Cable TV; Other (See Remarks) Source of Fincl Data: Owner 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: Cash; VA; FHA; Conventional; No Carry Environmental: None

Listing Office: Gerchick Real Estate

Last Updated: December - 02 - 2025