447 W RIO SALADO Parkway, Mesa, AZ 85201
$3,850,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $3,850,000 Last Modified: 8/12/2016
More Information MLS# 5423290
Contract Info
Ownership: Fee Simple Current Price: $3,850,000 Sold Price: $3,850,000 Status: Closed List Date: 2016-04-04
Location, Tax & Legal
Assessor's Map #: 24 Assessor's Parcel #: 106 Add'l Parcels: No Tax Municipality: Mesa Taxes: 16329 Legal: SAN REMO UNIT 101-124 201-224 Marketing Name: CYPRESS COMMONS APTS Map Code/Grid: Q38 House Number: 447 Compass: W Street Name: RIO SALADO St Suffix: Parkway City/Town Code: Mesa State/Province: AZ Zip Code: 85201 County Code: Maricopa Subdivision: SAN REMO UNIT 101-124 201-224 Assessor Number: 135-24-106 Tax Year: 2015
General Property Description
# of Buildings: 4 Uncvrd Parking Spcs: 48 Lot Size Dimensions: 2.21 AC Total # of Units: 48 Elementary School District: Mesa Unified District High School District: Mesa Unified District Year Built: 1986 Zoning: RM-3
Project Type
25 - 50 Units: 1 RV Park: 1
Construction
Wood Frame: 1
Const - Finish
Painted: 1 Stucco: 1
Roofing
Built-Up: 1
Floors
Vinyl: 1 Carpet: 1
Sale Includes
Land & Building: 1 Pool Equipment: 1
Income & Expenses
Annual Elec Exp: 3806 Annual Gas Exp: 0 Annual Ins Exp: 4585 Annual Land Lse Exp: 0 Annual Landscape Exp: 0 Annual Legal & Acctg: 0 Annual Maint Exp: 33600 Annual Mgmt Exp: 13195 Annual Trash Exp: 0 Annual Wtr/Swr Exp: 18694 Owner Association: No Annual Ownr Asoc Fee: 0 Annual PAD Fee: 0 Annual Rplcmnt Rsrvs: 12000 Annual Other Expense: 26000 Operating Exp: 128209 Other Income: 37000 Vacancy Allowance: 0.05 Adjusted Gross Inc: 445550
Pmt & Rate Info
Cap Rate: 7.8 Down Payment: 0 Equity: 3995000 Down Payment %: 0 Monthly Payments: 0 Total Owed: 0 Assessment Balance: 0
Community Features
Pool: 1
Heating
Electric: 1
Cooling
Electric: 1
Exterior Amenities
Landscape Water System: 1 Green Landscaping: 1 Desert Landscaping: 1 Fenced: 1 Sidewalk(s): 1 Patio/Balcony: 1 Guard Gate: 1
Interior Features
Fire/Smoke Alarm(s): 1 Mini Blinds: 1
Tenant Pays
Electricity: 1 Cable TV: 1
Appliances Included
Dishwasher: 1 Disposal: 1 Refrigerator: 1 Free-Standing Range: 1 Washer/Dryer: 1 W/D Hookup: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Projected Proforma: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
>1 Space Per Unit: 1 Paved: 1
Electric
APS: 1 Individual Meter: 1
Gas
None: 1
Owner Pays
Water: 1 Sewer: 1 Trash Collection: 1
New Financing
No Carry: 1
Existing 1st Loan
Conventional: 1
Existing 1st Loan Type
Fixed: 1
Existing 1st Loan Terms
Assume - Qualify: 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
ALTA Survey Availbl: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Contact Info
List Agent Home Phn: 480-767-3001
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 48 Avg Rent: 658 Avg SqFt: 817 # Baths: 2
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Conventional Loan Years: 30 Closing Cost Split: Normal - N Payment Type: Fixed Buyer Concession to Seller: 1 Buyer Concession $/%: $ Seller Concession to Buyer: 1 Seller Concession $/%: $
Remarks Misc
Cross Street: W Rio Salado Pkwy & Country Club Dr in Mesa Geo Lat: 33.429425 Geo Lon: -111.841096
Status Change Info
Off Market Date: 2016-06-01 Under Contract Date: 2016-05-31 Close of Escrow Date: 2016-08-10 Sold Price: $3,850,000
Legal Info
Lot Number: 135-24-106
Income Expenses
Gross Annual Sch Inc: 432000 Net Operating Income: 311631
Property Features
Project Type: 25 - 50 Units; RV Park Construction: Wood Frame Const - Finish: Painted; Stucco Roofing: Built-Up Floors: Vinyl; Carpet Sale Includes: Land & Building; Pool Equipment Community Features: Pool Exterior Amenities: Landscape Water System; Green Landscaping; Desert Landscaping; Fenced; Sidewalk(s); Patio/Balcony; Guard Gate Interior Features: Fire/Smoke Alarm(s); Mini Blinds Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Washer/Dryer; W/D Hookup Cooling: Electric Water Source: City Franchise Sewer: Sewer - Public Electric: APS; Individual Meter Gas: None Parking Features: >1 Space Per Unit; Paved Road Surface Type: Asphalt Owner Pays: Water; Trash Collection Tenant Pays: Electricity; Cable TV Source of Fincl Data: Projected Proforma Existing 1st Loan: Conventional Existing 1st Loan Type: Fixed Existing 1st Loan Terms: Assume - Qualify 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: No Carry Environmental: None
Listing Office: Keller Williams Arizona Realty
Last Updated: August - 12 - 2016
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.