5825 E University Drive, Mesa, AZ 85205
$5,880,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $5,880,000 Last Modified: 5/30/2023
More Information MLS# 6489483
Contract Info
Ownership: Fee Simple Current Price: $5,880,000 Sold Price: $5,880,000 Status: Closed List Date: 2022-11-14
Location, Tax & Legal
Assessor's Map #: 49 Assessor's Parcel #: 6 Assessor Parcel Ltr: K Add'l Parcels: Yes Tax Municipality: Mesa Taxes: 10236 Legal: TH PT E2 NE4 SEC 23 DAF COM NW COR E2 NE4 SD SEC TH E 297.44F S 194.07F TO TPOB TH S 101.92F W 138.06F N 101.75F E 137.9 Marketing Name: Suncourt Villas Map Code/Grid: R41 House Number: 5825 Compass: E Street Name: University St Suffix: Drive City/Town Code: Mesa State/Province: AZ Zip Code: 85205 County Code: Maricopa Assessor Number: 141-49-006-K Tax Year: 2022
General Property Description
# of Buildings: 7 Uncvrd Parking Spcs: 12 Lot Size Dimensions: 98,200 sf Total # of Units: 28 Elementary School District: Mesa Unified District High School District: Mesa Unified District Year Built: 1983 Zoning: R-3
Project Type
25 - 50 Units: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Foam: 1
Floors
Concrete: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 24460 Annual Ins Exp: 4390 Annual Landscape Exp: 7000 Annual Legal & Acctg: 7459 Annual Maint Exp: 19208 Annual Mgmt Exp: 19491 Owner Association: No Annual Ownr Asoc Fee: 0 Annual Rplcmnt Rsrvs: 8400 Annual Other Expense: 19457 Operating Exp: 120101 Other Income: 29799 Vacancy Allowance: 0.05 Adjusted Gross Inc: 490658.85
Pmt & Rate Info
Cap Rate: 5.35 Equity: 6850000 Down Payment %: 30 Monthly Payments: 0 Total Owed: 0
Showing Notification Methods
Text: 1
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Wall Furnace: 1
Cooling
Electric: 1 Individual: 1
Exterior Amenities
Desert Landscaping: 1 Fenced: 1 Patio/Balcony: 1
Tenant Pays
Electricity: 1
Appliances Included
Built-In Range: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1 Projected Proforma: 1
Water Source
City Franchise: 1 Master Meter: 1
Sewer
Sewer - Public: 1
Parking Features
>1 Space Per Unit: 1
Electric
SRP: 1
Gas
SW Gas: 1
Owner Pays
Water: 1 Sewer: 1 Trash Collection: 1 Landscaping: 1
New Financing
Conventional: 1 No Carry: 1 1031 Exchange: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 14 Avg Rent: 1332 Avg SqFt: 645 # Baths: 14
2 Bedroom Units
# 2 Bedroom Units: 14 Avg Rent: 1582 Avg SqFt: 925 # Baths: 14
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Other Loan Years: 5 Closing Cost Split: Normal - N Payment Type: Fixed Buyer Concession to Seller: 0 Buyer Concession $/%: % Seller Concession to Buyer: 0 Seller Concession $/%: %
Remarks Misc
Geo Lat: 33.42223 Geo Lon: -111.704602
Status Change Info
Off Market Date: 2023-05-30 Under Contract Date: 2023-02-15 Close of Escrow Date: 2023-05-19 Sold Price: $5,880,000
Income Expenses
Gross Annual Sch Inc: 486684 Net Operating Income: 366772
Property Features
Project Type: 25 - 50 Units Construction: Block Const - Finish: Painted Roofing: Foam Floors: Concrete Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Desert Landscaping; Fenced; Patio/Balcony Appliances Included: Built-In Range Heating: Wall Furnace Cooling: Electric; Individual Water Source: City Franchise; Master Meter Sewer: Sewer - Public Electric: SRP Gas: SW Gas Parking Features: >1 Space Per Unit Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity Source of Fincl Data: Owner; Projected Proforma Showing Notification Methods: Text Lockbox Type: None New Financing: Conventional; No Carry; 1031 Exchange Environmental: None
Listing Office: Marcus & Millichap
Last Updated: May - 30 - 2023
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