936 W Rio Salado Parkway, Mesa, AZ 85201 (MLS# 6705805)

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

Overview

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.

Listing Details MLS# 6705805

Location, Tax & Legal

House Number: 936
Compass: W
Street Name: Rio Salado
St Suffix: Parkway
City/Town Code: Mesa
State/Province: AZ
Zip Code: 85201
Zip4: 3940
Country: US
County Code: Maricopa
Assessor Number: 135-22-056-B
Tax Year: 2023
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

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 40x103
Year Built: 1961
Uncvrd Parking Spcs: 3
Total # of Units: 4
# of Buildings: Yes
Zoning: RM-3
Flood Zone: No
Elementary School District: Mesa Unified District
High School District: Mesa Unified District

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.

Status Change Info

Off Market Date: 2024-08-05
Under Contract Date: 2024-06-11
Close of Escrow Date: 2024-08-02

Legal Info

Township: 1N
Range: 5E
Section: 16
Lot Number: -

More Information

Income Expenses

Gross Annual Sch Inc: 84000
Net Operating Income: 82321

Showing Notification Methods

Showing Service: Aligned Showings

1 Bedroom Units

# 1 Bedroom Units: Yes
Avg Rent: 1200
Avg SqFt: 466
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: Yes
Avg Rent: 1400
Avg SqFt: 626
# Baths: Yes

3 Bedrooms Units

# 3 Bedroom Units: Yes
Avg Rent: 1800
Avg SqFt: 1190
# Baths: Yes

4 Bedrooms Units

# 4 Bedroom Units: Yes
Avg Rent: 2700
Avg SqFt: 3024
# Baths: 3

Sold Info

Loan Type: Conventional
Loan Years: 30
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession to Buyer: 9500
Seller Concession $/%: $
Buyer Concession to Seller: 0

Project Type

Four Plex: Yes

Construction

Block: Yes

Const - Finish

Painted: Yes

Roofing

Composition: Yes

Floors

Vinyl: Yes
Carpet: Yes
Other: Yes

Sale Includes

Land & Building: Yes

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

Lockbox Type

See Private Remarks: Yes

Community Features

No Pool: Yes

Heating

Ceiling: Yes
Electric: Yes

Cooling

Ceiling Fan(s): Yes
Central Air: Yes
Electric: Yes

Exterior Amenities

Desert Landscaping: Yes
Curb(s) & Gutter(s): Yes
Sidewalk(s): Yes
Patio/Balcony: Yes
Separate Storage: Yes

Interior Features

Unfurnished: Yes
Fire/Smoke Alarm(s): Yes
Vertical Blinds: Yes

Tenant Pays

Water: Yes
Sewer: Yes
Electricity: Yes
Trash Collection: Yes
Cable TV: Yes

Appliances Included

Dishwasher: Yes
Microwave: Yes
Refrigerator: Yes
Built-In Range: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes

Water Source

City Franchise: Yes
Individual Meter: Yes

Sewer

Sewer - Public: Yes
Sewer-In & Connected: Yes

Parking Features

Carport: Yes
1 Space/Unit: Yes
Add'l Parking Avail: Yes

Electric

SRP: Yes
Individual Meter: Yes

Gas

None: Yes

Owner Pays

None: Yes

New Financing

Cash: Yes
VA: Yes
Conventional: Yes
FHA: Yes
1031 Exchange: Yes

Existing 1st Loan

Conventional: Yes

Existing 1st Loan Type

Not Applicable: Yes

Existing 1st Loan Terms

Not Applicable: Yes

Reports/Disclosures

Seller Prop Disc Stm: Yes

Environmental

None: Yes

Efficiency Units

Avg Rent: 0

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