$4,500,000
Mesa, AZ 85201
MLS# 6858057
Status: Closed
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Property Description
Seller May Carry All Facts & Figures Approximate, Buyer to Verify to Their Satisfaction. Discover a remarkable multiplex that promises a solid investment. This well-maintained property features 24 spacious units, each generating reliable rental income while showcasing significant investment potential. Long Term Owners and Tenants. All Single Level Buildings. with Newer Air Conditioners Walking Distance to Shopping. Great Parking Along With Street Parking. Please Do Not Disturb Tenants.
Details
Maps
Documents
Contract Info
Current Price: $4,500,000
Sold Price: $4,500,000
Status: Closed
List Date: 2025-04-28
Ownership: Fee Simple
Location Tax Legal
House Number: 1041
Compass: N
Street Name: MESA
St Suffix: Drive
City/Town Code: Mesa
State/Province: AZ
Zip Code: 85201
Zip4: 3543
County Code: Maricopa
Subdivision: ENCHANTED VILLAGE
Assessor Number: 137-32-151
Tax Year: 2024
General Property Description
Lot Size Dimensions: 57582
Year Built: 1972
Uncvrd Parking Spcs: 9
Total # of Units: 24
# of Buildings: 6
Zoning: Multi
Elementary School District: Mesa Unified District
High School District: Mesa Unified District
Remarks Misc
Cross Street: Mesa Drive and Brown
Directions: Just South of Brown on Mesa Drive. Next to Strip Center is the Cul DE Sac
Geo Lat: 33.434458
Geo Lon: -111.822427
Status Change Info
Off Market Date: 2025-07-21
Under Contract Date: 2025-06-04
Close of Escrow Date: 2025-08-14
Sold Price: $4,500,000
Legal Info
Township: 1N
Range: 5E
Section: 14
Lot Number: 45
Income Expenses
Gross Annual Sch Inc: 403200
Net Operating Income: 384439
Showing Notification Methods
Showing Service: No Showing Service Used
2 Bedroom Units
# 2 Bedroom Units: 24
Avg Rent: 1400
Avg SqFt: 711
# Baths: 1
Sold Info
Loan Type: Carryback
Loan Years: 5
Payment Type: Balloon
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession to Buyer: 1500
Seller Concession $/%: $
Property Features
Project Type: 13 - 24 Units
Construction: Block; Other
Const - Finish: Brick Veneer
Roofing: Composition; Built-Up; Foam; See Remarks
Floors: Concrete; Wood; Ceramic Tile
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Desert Landscaping; Partially Fenced; Cable TV Available; Patio/Balcony; Security Light(s)
Interior Features: Unfurnished; Fire/Smoke Alarm(s); Mini Blinds
Appliances Included: Built-In Electric Oven; Refrigerator; See Remarks
Heating: Individual; Central
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: Carport; 1 Space/Unit; Assigned; Paved; See Remarks
Road Access Type: Dedicated Street
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection
Tenant Pays: Electricity; Cable TV
Source of Fincl Data: Projected Proforma; Books Shwn Accpt Ofr
Special: Incorporated Area
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; Owner May Carry
Environmental: None
Supplements
Each unit is individually metered for electricity, simplifying utility management and maximizing profitability. The property boasts Ample parking spaces, ensuring ample parking for both residents and guests, further enhancing its overall convenience and appeal. Additionally, which boosts tenant comfort and desirability. Mesa's thriving economy and robust job market make it a highly sought-after location for renters, ensuring strong rental demand and low vacancy rates. With convenient access to major highways and public transportation, commuting to Phoenix and its surrounding areas is effortless. This property is strategically situated in the heart of Mesa, with nearby amenities including shopping centers, restaurants, schools, and parks. The property is well connected to major highways and public transport, providing easy access to the greater Phoenix Metropolitan Area. Seller May Carry
Offering Memorandum 
Listing Office: Better Homes & Gardens Real Estate SJ Fowler
Last Updated: August - 14 - 2025
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