1041 N MESA Drive, Mesa, AZ 85201 (MLS# 6858057)

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

Overview

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 ... (Read more)

Listing Details MLS# 6858057

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
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

Contract Info

Ownership: Fee Simple

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

Status Change Info

Off Market Date: 2025-07-21
Under Contract Date: 2025-06-04
Close of Escrow Date: 2025-08-14

Legal Info

Township: 1N
Range: 5E
Section: 14
Lot Number: 45

More Information

Income Expenses

Gross Annual Sch Inc: 403200
Net Operating Income: 384439

Showing Notification Methods

Showing Service: No Showing Service Used
Text: Yes
Email: Yes
Phone Call: Yes

2 Bedroom Units

# 2 Bedroom Units: 24
Avg Rent: 1400
Avg SqFt: 711
# Baths: Yes

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 $/%: $
Buyer Concession to Seller: 0

Project Type

13 - 24 Units: Yes

Construction

Block: Yes
Other: Yes

Const - Finish

Brick Veneer: Yes

Roofing

Composition: Yes
Built-Up: Yes
Foam: Yes
See Remarks: Yes

Floors

Concrete: Yes
Wood: Yes
Ceramic Tile: Yes

Sale Includes

Land & Building: Yes

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

Lockbox Type

None: Yes

Community Features

No Pool: Yes

Heating

Electric: Yes
Individual: Yes
Central: Yes

Cooling

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

Exterior Amenities

Desert Landscaping: Yes
Partially Fenced: Yes
Cable TV Available: Yes
Patio/Balcony: Yes
Security Light(s): Yes

Interior Features

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

Tenant Pays

Electricity: Yes
Cable TV: Yes

Appliances Included

Built-In Electric Oven: Yes
Refrigerator: Yes
See Remarks: Yes

Road Access Type

Dedicated Street: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Projected Proforma: Yes
Books Shwn Accpt Ofr: Yes

Water Source

City Franchise: Yes
Master Meter: Yes

Sewer

Sewer - Public: Yes

Parking Features

Carport: Yes
1 Space/Unit: Yes
Paved: Yes
Assigned: Yes
See Remarks: Yes

Electric

City Electric: Yes
Individual Meter: Yes

Gas

None: Yes

Owner Pays

Water: Yes
Sewer: Yes
Trash Collection: Yes

New Financing

Cash: Yes
Owner May Carry: Yes

Special

Incorporated Area: 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

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

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

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

1041 N MESA Drive, Mesa, AZ 85201 (MLS# 6858057)