$670,000
Mesa, AZ 85203
MLS# 5684913
Status: Closed
1 / 9
Property Description
Sitting on almost half an acre in North Mesa this mostly two bedroom one bath property offers a unique re-position opportunity with significant rental upside. The property features vaulted ceilings, enclosed patios, individual storage units, and a laundry room for its residents. Each 4-plex is on a separate parcel which allows the buyer to acquire the property with residential financing.
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $670,000
Sold Price: $670,000
Status: Closed
List Date: 2017-10-17
Location, Tax & Legal
Assessor's Map #: 30
Assessor's Parcel #: 87
Assessor Parcel Ltr: A
Add'l Parcels: Yes
Tax Municipality: Mesa
Taxes: 1940
Legal: MESA STARLITE GARDENS MCR 99/11 TR A N2 EX W 4F P /D 12855/355
Marketing Name: North Mesa 8 Plex
Map Code/Grid: Q39
House Number: 854
Compass: N
Street Name: STAPLEY
St Suffix: Drive
City/Town Code: Mesa
State/Province: AZ
Zip Code: 85203
Zip4: 5600
Country: US
County Code: Maricopa
Assessor Number: 137-30-087-A
Tax Year: 2016
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 4
Lot Size Dimensions: See Plat Map
Total # of Units: 8
Elementary School District: Mesa Unified District
High School District: Mesa Unified District
Year Built: 1978
Zoning: R-3
Project Type
5 - 12 Units: 1
Construction
Wood Frame: 1
Const - Finish
Painted: 1
Stucco: 1
Roofing
Composition: 1
Floors
Vinyl: 1
Ceramic Tile: 1
Carpet: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 4023
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 2700
Annual Mgmt Exp: 5654
Annual Trash Exp: 1500
Annual Wtr/Swr Exp: 4500
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 2000
Annual Other Expense: 1272
Operating Exp: 23589
Other Income: 1100
Vacancy Allowance: 0.05
Adjusted Gross Inc: 71725
Pmt & Rate Info
Cap Rate: 6.22
Down Payment: 231250
Equity: 775000
Down Payment %: 29.84
Monthly Payments: 3178.75
Total Owed: 0
Assessment Balance: 0
Community Features
No Pool: 1
Other: 1
See Remarks: 1
Heating
Heat Pump: 1
Electric: 1
Cooling
Electric: 1
Heat Pump: 1
Individual: 1
Exterior Amenities
Patio/Balcony: 1
Separate Storage: 1
Security Light(s): 1
Interior Features
Mini Blinds: 1
Tenant Pays
Electricity: 1
Appliances Included
Other: 1
Road Access Type
Alley: 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/Unit: 1
Electric
City Electric: 1
Individual Meter: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
New Financing
Conventional: 1
1031 Exchange: 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
None: 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
# 1 Bedroom Units: 2
Avg Rent: 650
Avg SqFt: 650
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 6
Avg Rent: 825
Avg SqFt: 825
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Cash
Closing Cost Split: Normal - N
Payment Type: Other
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: 9th St & Stapley Drive
Directions: Loop 202 to Mckellips, East to Stapley Drive, South to property
Geo Lat: 33.431095
Geo Lon: -111.805655
Status Change Info
Off Market Date: 2017-12-12
Under Contract Date: 2017-11-22
Close of Escrow Date: 2017-12-21
Sold Price: $670,000
Legal Info
Lot Number: ---
Income Expenses
Gross Annual Sch Inc: 74400
Net Operating Income: 48191
Property Features
Project Type: 5 - 12 Units
Construction: Wood Frame
Const - Finish: Painted; Stucco
Roofing: Composition
Floors: Vinyl; Ceramic Tile; Carpet
Sale Includes: Land & Building
Community Features: No Pool; Other; See Remarks
Exterior Amenities: Patio/Balcony; Separate Storage; Security Light(s)
Interior Features: Mini Blinds
Appliances Included: Other
Heating: Heat Pump
Cooling: Electric; Heat Pump; Individual
Water Source: City Franchise; Master Meter
Sewer: Sewer - Public
Electric: City Electric; Individual Meter
Gas: None
Parking Features: 1 Space/Unit
Road Access Type: Alley
Owner Pays: Water; Trash Collection
Tenant Pays: Electricity
Source of Fincl Data: Owner; Projected Proforma
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: Conventional; 1031 Exchange
Environmental: None
Listing Office: Kasten Long Commercial Group
Last Updated: April - 27 - 2026
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