936 W Rio Salado Parkway, Mesa, AZ 85201
$1,010,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$1,010,000
List Date:
5/20/2024
Last Modified:
8/27/2024
Description
Performing 4plex with 7.8% CAP Rate in the heart of Mesa close to schools, shopping and more. Lovingly updated with quartz look counters, white shaker cabinets and wood look flooring, these freshly painted units have plenty of parking and backyards.
The dwelling mix includes 4 updated units with: 1/1, 2/1, 3/1, 4/2.5 which are fully tenanted. Artificial turf for easy maintenance. Newer roofs and AC units.
Drive by only, do not disturb tenants.
More Information MLS# 6705805
Contract Info
Ownership: Fee Simple
Current Price: $1,010,000
Sold Price: $1,010,000
Status: Closed
List Date: 2024-05-15
Location, Tax & Legal
Assessor's Map #: 22
Legal Description (Abbrev): BEG 342' W OF SE COR W2 SE4 NW4 TH W103' N179.95' E 103' S 179.95' TO POB EX S 40' RD .33 AC
Assessor's Parcel #: 56
Assessor Parcel Ltr: B
Add'l Parcels: No
Tax Municipality: Mesa
Census Tract: 421102
Taxes: 1679
Legal: BEG 342' W OF SE COR W2 SE4 NW4 TH W103' N179.95' E 103' S 179.95' TO POB EX S 40' RD .33 AC
Marketing Name: Rio Salado 4-Plex
House Number: 936
Compass: W
Street Name: Rio Salado
St Suffix: Parkway
City/Town Code: Mesa
State/Province: AZ
Zip Code: 85201
Zip4: 3940
County Code: Maricopa
Assessor Number: 135-22-056-B
Tax Year: 2023
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 3
Lot Size Dimensions: 40x103
Flood Zone: No
Total # of Units: 4
Elementary School District: Mesa Unified District
High School District: Mesa Unified District
Year Built: 1961
Zoning: RM-3
Legal Info
Range: 5E
Section: 16
Township: 1N
Lot Number: -
Project Type
Four Plex: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Vinyl: 1
Carpet: 1
Other: 1
Sale Includes
Land & Building: 1
Income & Expenses
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 1679
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 84000
Pmt & Rate Info
Cap Rate: 7.84
Equity: 1050000
Down Payment %: 25
Monthly Payments: 4000
Total Owed: 0
Showing Notification Methods
Showing Service: Aligned Showings
Lockbox Type
See Private Remarks: 1
Community Features
No Pool: 1
Heating
Ceiling: 1
Electric: 1
Cooling
Ceiling Fan(s): 1
Central Air: 1
Electric: 1
Exterior Amenities
Desert Landscaping: 1
Curb(s) & Gutter(s): 1
Sidewalk(s): 1
Patio/Balcony: 1
Separate Storage: 1
Interior Features
Unfurnished: 1
Fire/Smoke Alarm(s): 1
Vertical Blinds: 1
Tenant Pays
Water: 1
Sewer: 1
Electricity: 1
Trash Collection: 1
Cable TV: 1
Appliances Included
Dishwasher: 1
Microwave: 1
Refrigerator: 1
Built-In Range: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Individual Meter: 1
Sewer
Sewer - Public: 1
Sewer-In & Connected: 1
Parking Features
Carport: 1
1 Space/Unit: 1
Add'l Parking Avail: 1
Electric
SRP: 1
Individual Meter: 1
Gas
None: 1
Owner Pays
None: 1
New Financing
Cash: 1
VA: 1
Conventional: 1
FHA: 1
1031 Exchange: 1
Existing 1st Loan
Conventional: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 1
Reports/Disclosures
Seller Prop Disc Stm: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 1
Avg Rent: 1200
Avg SqFt: 466
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 1
Avg Rent: 1400
Avg SqFt: 626
# Baths: 1
3 Bedrooms Units
# 3 Bedroom Units: 1
Avg Rent: 1800
Avg SqFt: 1190
# Baths: 1
4 Bedrooms Units
# 4 Bedroom Units: 1
Avg Rent: 2700
Avg SqFt: 3024
# Baths: 3
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: 9500
Seller Concession $/%: $
Remarks Misc
Cross Street: Rio Salado and Alma School
Directions: From N Alma School head west on Rio Salado Parkway to 936 W Rio Salado. Property will be on the north side of the street.
Geo Lat: 33.429772
Geo Lon: -111.851504
Status Change Info
Off Market Date: 2024-08-05
Under Contract Date: 2024-06-11
Close of Escrow Date: 2024-08-02
Sold Price: $1,010,000
Income Expenses
Gross Annual Sch Inc: 84000
Net Operating Income: 82321
Property Features
Project Type: Four Plex
Construction: Block
Const - Finish: Painted
Roofing: Composition
Floors: Vinyl; Carpet; Other
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Desert Landscaping; Curb(s) & Gutter(s); Sidewalk(s); Patio/Balcony; Separate Storage
Interior Features: Unfurnished; Fire/Smoke Alarm(s); Vertical Blinds
Appliances Included: Built-In Range; Refrigerator; Dishwasher; Microwave
Heating: Ceiling
Cooling: Ceiling Fan(s); Electric; Central Air
Water Source: City Franchise; Individual Meter
Sewer: Sewer - Public; Sewer-In & Connected
Electric: SRP; Individual Meter
Gas: None
Parking Features: Carport; 1 Space/Unit; Add'l Parking Avail
Road Surface Type: Asphalt
Owner Pays: None
Tenant Pays: Water; Sewer; Electricity; Trash Collection; Cable TV
Source of Fincl Data: Owner
Lockbox Type: See Private Remarks
Existing 1st Loan: Conventional
Existing 1st Loan Type: Not Applicable
Existing 1st Loan Terms: Not Applicable
New Financing: Cash; VA; FHA; Conventional; 1031 Exchange
Environmental: None
Listing Office:
AZ Brokerage Holdings, LLC
Last Updated: August - 27 - 2024
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