1041 N MESA Drive, Mesa, AZ 85201
$4,500,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $4,500,000 Last Modified: 8/14/2025
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.
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
More Information MLS# 6858057
Contract Info
Ownership: Fee Simple Current Price: $4,500,000 Sold Price: $4,500,000 Status: Closed List Date: 2025-04-28
Location, Tax & Legal
Assessor's Map #: 32 Legal Description (Abbrev): LOT 45 ENCHANTED VILLAGE MCR 010714 Assessor's Parcel #: 151 Add'l Parcels: Yes Tax Municipality: Mesa Census Tract: 420901 Taxes: 8133 Legal: LOT 45 ENCHANTED VILLAGE MCR 010714 Marketing Name: Enchanted Village 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
# of Buildings: 6 Uncvrd Parking Spcs: 9 Lot Size Dimensions: 57582 Total # of Units: 24 Elementary School District: Mesa Unified District High School District: Mesa Unified District Year Built: 1972 Zoning: Multi
Legal Info
Range: 5E Section: 14 Township: 1N Lot Number: 45
Project Type
13 - 24 Units: 1
Construction
Block: 1 Other: 1
Const - Finish
Brick Veneer: 1
Roofing
Composition: 1 Built-Up: 1 Foam: 1 See Remarks: 1
Floors
Concrete: 1 Wood: 1 Ceramic Tile: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Ins Exp: 8700 Annual Landscape Exp: 3600 Annual Maint Exp: 9600 Annual Trash Exp: 1500 Annual Wtr/Swr Exp: 3000 Owner Association: No Annual Ownr Asoc Fee: 0 Operating Exp: 34533 Other Income: 1200 Vacancy Allowance: 2 Adjusted Gross Inc: 404400 Total Monthly Rental Income: 33600
Pmt & Rate Info
Cap Rate: 7.54 Equity: 5100000 1st Encumbrance: 0 Down Payment %: 40 Monthly Payments: 0 1st Interest Rate: 0 1st Payment: 0 2nd Encumbrance: 0 2nd Payment: 0 3rd Encumbrance: 0 3rd Payment: 0 Total Owed: 0
Showing Notification Methods
Showing Service: No Showing Service Used Text: 1 Email: 1 Phone Call: 1
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Electric: 1 Individual: 1 Central: 1
Cooling
Ceiling Fan(s): 1 Central Air: 1 Electric: 1 Individual: 1
Exterior Amenities
Desert Landscaping: 1 Partially Fenced: 1 Cable TV Available: 1 Patio/Balcony: 1 Security Light(s): 1
Interior Features
Unfurnished: 1 Fire/Smoke Alarm(s): 1 Mini Blinds: 1
Tenant Pays
Electricity: 1 Cable TV: 1
Appliances Included
Built-In Electric Oven: 1 Refrigerator: 1 See Remarks: 1
Road Access Type
Dedicated Street: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Projected Proforma: 1 Books Shwn Accpt Ofr: 1
Water Source
City Franchise: 1 Master Meter: 1
Sewer
Sewer - Public: 1
Parking Features
Carport: 1 1 Space/Unit: 1 Paved: 1 Assigned: 1 See Remarks: 1
Electric
City Electric: 1 Individual Meter: 1
Gas
None: 1
Owner Pays
Water: 1 Sewer: 1 Trash Collection: 1
New Financing
Cash: 1 Owner May Carry: 1
Special
Incorporated Area: 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 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
Seller Prop Disc Stm: 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: 24 Avg Rent: 1400 Avg SqFt: 711 # Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Carryback Loan Years: 5 Closing Cost Split: Normal - N Payment Type: Balloon Buyer Concession to Seller: 0 Buyer Concession $/%: $ Seller Concession to Buyer: 1500 Seller Concession $/%: $
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
Income Expenses
Gross Annual Sch Inc: 403200 Net Operating Income: 384439
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
Documents
Offering Memorandum › Listing Office: Better Homes & Gardens Real Estate SJ Fowler
Last Updated: August - 14 - 2025
Copyright 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.