750 E DANA Avenue, Mesa, AZ 85204
$4,250,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $4,250,000 Last Modified: 2/18/2023
Description
NEW 10 unit townhome development. February / March 2022 estimated completion date. Each unit is 2,200 square feet with 4 bedrooms and 3.5 baths. Each unit has one car garage. Each unit is individually metered and parceled. Being sold as an entire development (only for sale as 10-unit development, no units will be sold individually). Rent comps in the $2000-$2250 range. Located in the opportunity zone for added tax benefit. Great for investors, 1031 exchange funds, etc.
More Information MLS# 6334436
Contract Info
Ownership: Fee Simple Current Price: $4,250,000 Sold Price: $4,250,000 Status: Closed List Date: 2021-12-22
Location, Tax & Legal
Assessor's Map #: 28 Legal Description (Abbrev): CHULA VISTA AMD MCR 37/37 PT OF LOTS 8,9,10 & 11 BLK 4 DAF E2 LOT 8 EX N 85F TH/OF, LOT 9 EX W 70F T Assessor's Parcel #: 109 Assessor Parcel Ltr: E Add'l Parcels: Yes Tax Municipality: Mesa Census Tract: 421501 Taxes: 672 Legal: CHULA VISTA AMD MCR 37/37 PT OF LOTS 8,9,10 & 11 BLK 4 DAF E2 LOT 8 EX N 85F TH/OF, LOT 9 EX W 70F T Marketing Name: Sunset at Horne Map Code/Grid: R39 House Number: 750 Compass: E Street Name: DANA St Suffix: Avenue City/Town Code: Mesa State/Province: AZ Zip Code: 85204 Zip4: 1073 County Code: Maricopa Subdivision: Sunset at Horne Assessor Number: 138-28-109-E Tax Year: 2021
General Property Description
# of Buildings: 3 Uncvrd Parking Spcs: 10 Lot Size Dimensions: irregular Flood Zone: No Total # of Units: 10 Elementary School District: Mesa Unified District High School District: Mesa Unified District Elementary School: Franklin East Elementary School Jr. High School: Franklin At Alma Elementary High School: Westwood High School Year Built: 2021 Zoning: multifamily
Legal Info
Range: 5E Section: 23 Township: 1N Lot Number: 1-10
Project Type
5 - 12 Units: 1
Construction
Wood Frame: 1
Const - Finish
Stucco: 1
Roofing
Foam: 1
Floors
Vinyl: 1 Carpet: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Gas Exp: 0 Annual Ins Exp: 10000 Annual Landscape Exp: 6000 Owner Association: No Annual Ownr Asoc Fee: 0 Operating Exp: 16672 Other Income: 0 Vacancy Allowance: 0.05 Adjusted Gross Inc: 250800
Pmt & Rate Info
Cap Rate: 5.34 Equity: 4400000 Down Payment %: 0 Monthly Payments: 0 Total Owed: 0
Showing Notification Methods
Text: 1
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Electric: 1
Cooling
Ceiling Fan(s): 1 Central Air: 1 Electric: 1
Exterior Amenities
Landscape Water System: 1 Desert Landscaping: 1 Cable TV Available: 1 Patio/Balcony: 1
Interior Features
Unfurnished: 1 Fire Sprinklers: 1
Tenant Pays
Water: 1 Sewer: 1 Electricity: 1 Trash Collection: 1 Cable TV: 1
Appliances Included
Dishwasher: 1 Microwave: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1 Individual Meter: 1
Sewer
Sewer - Public: 1
Parking Features
Garage: 1 On Street: 1 1 Space/Unit: 1 >1 Space Per Unit: 1 Attached: 1 Paved: 1 Garage Door Opener: 1
Electric
City Electric: 1
Gas
None: 1
Owner Pays
Landscaping: 1
New Financing
Conventional: 1
Special
Owner/Agent: 1
Existing 1st Loan
Conventional: 1
Reports/Disclosures
Seller Prop Disc Stm: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
Avg Rent: 0
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
# 4 Bedroom Units: 10 Avg Rent: 2200 Avg SqFt: 2200 # Baths: 35
Sold Info
Loan Type: Conventional Loan Years: 30 Closing Cost Split: Normal - N Payment Type: Fixed Buyer Concession to Seller: 0 Buyer Concession $/%: % Seller Concession to Buyer: 0 Seller Concession $/%: %
Remarks Misc
Cross Street: Horne and Main St Directions: From Horne and Main, go south on Horne to 2nd Ave.
Property is on northwest corner of Horne and 2nd Ave. Geo Lat: 33.412028 Geo Lon: -111.81444
Status Change Info
Off Market Date: 2022-12-31 Under Contract Date: 2022-02-02 Close of Escrow Date: 2023-02-17 Sold Price: $4,250,000
Income Expenses
Gross Annual Sch Inc: 264000 Net Operating Income: 234800
Property Features
Project Type: 5 - 12 Units Construction: Wood Frame Const - Finish: Stucco Roofing: Foam Floors: Vinyl; Carpet Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Landscape Water System; Desert Landscaping; Cable TV Available; Patio/Balcony Interior Features: Unfurnished; Fire Sprinklers Appliances Included: Dishwasher; Microwave Cooling: Ceiling Fan(s); Electric; Central Air Water Source: City Franchise; Individual Meter Sewer: Sewer - Public Electric: City Electric Gas: None Parking Features: Garage; On Street; 1 Space/Unit; >1 Space Per Unit; Attached; Garage Door Opener; Paved Road Surface Type: Asphalt Owner Pays: Landscaping Tenant Pays: Water; Sewer; Electricity; Trash Collection; Cable TV Source of Fincl Data: Owner Special: Owner/Agent Showing Notification Methods: Text Lockbox Type: None Existing 1st Loan: Conventional New Financing: Conventional Environmental: None
Listing Office: America's All In One Real Estate Services, Inc.
Last Updated: February - 18 - 2023
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