750 E DANA Avenue, Mesa, AZ 85204 (MLS# 6334436)

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

Overview

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.

Listing Details MLS# 6334436

Location, Tax & Legal

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
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

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: irregular
Year Built: 2021
Uncvrd Parking Spcs: 10
Total # of Units: 10
# of Buildings: 3
Zoning: multifamily
Flood Zone: No
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

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.

Status Change Info

Off Market Date: 2022-12-31
Under Contract Date: 2022-02-02
Close of Escrow Date: 2023-02-17

Legal Info

Township: 1N
Range: 5E
Section: 23
Lot Number: 1-10

More Information

Income Expenses

Gross Annual Sch Inc: 264000
Net Operating Income: 234800

4 Bedrooms Units

# 4 Bedroom Units: 10
Avg Rent: 2200
Avg SqFt: 2200
# Baths: 35

Sold Info

Loan Type: Conventional
Loan Years: 30
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: %
Seller Concession $/%: %
Buyer Concession to Seller: 0
Seller Concession to Buyer: 0

Project Type

5 - 12 Units: Yes

Construction

Wood Frame: Yes

Const - Finish

Stucco: Yes

Roofing

Foam: Yes

Floors

Vinyl: Yes
Carpet: Yes

Sale Includes

Land & Building: Yes

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: Yes

Lockbox Type

None: Yes

Community Features

No Pool: Yes

Heating

Electric: Yes

Cooling

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

Exterior Amenities

Landscape Water System: Yes
Desert Landscaping: Yes
Cable TV Available: Yes
Patio/Balcony: Yes

Interior Features

Unfurnished: Yes
Fire Sprinklers: Yes

Tenant Pays

Water: Yes
Sewer: Yes
Electricity: Yes
Trash Collection: Yes
Cable TV: Yes

Appliances Included

Dishwasher: Yes
Microwave: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes

Water Source

City Franchise: Yes
Individual Meter: Yes

Sewer

Sewer - Public: Yes

Parking Features

Garage: Yes
On Street: Yes
1 Space/Unit: Yes
>1 Space Per Unit: Yes
Attached: Yes
Paved: Yes
Garage Door Opener: Yes

Electric

City Electric: Yes

Gas

None: Yes

Owner Pays

Landscaping: Yes

New Financing

Conventional: Yes

Special

Owner/Agent: Yes

Existing 1st Loan

Conventional: Yes

Reports/Disclosures

Seller Prop Disc Stm: Yes

Environmental

None: Yes

Efficiency Units

Avg Rent: 0

1 Bedroom Units

Avg Rent: 0

2 Bedroom Units

Avg Rent: 0

3 Bedrooms Units

Avg Rent: 0

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