1041 N MESA Drive, Mesa, AZ 85201
$4,500,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$4,500,000
Last Modified:
8/14/2025
Description
Seller May Carry All Facts & Figures Approximate, Buyer to Verify to Their Satisfaction. Discover a remarkable multiplex that promises a solid investment. This well-maintained property features 24 spacious units, each generating reliable rental income while showcasing significant investment potential. Long Term Owners and Tenants. All Single Level Buildings. with Newer Air Conditioners Walking Distance to Shopping. Great Parking Along With Street Parking. Please Do Not Disturb Tenants.
Supplements: Each unit is individually metered for electricity, simplifying utility management and maximizing profitability. The property boasts Ample parking spaces, ensuring ample parking for both residents and guests, further enhancing its overall convenience and appeal. Additionally, which boosts tenant comfort and desirability. Mesa's thriving economy and robust job market make it a highly sought-after location for renters, ensuring strong rental demand and low vacancy rates. With convenient access to major highways and public transportation, commuting to Phoenix and its surrounding areas is effortless. This property is strategically situated in the heart of Mesa, with nearby amenities including shopping centers, restaurants, schools, and parks. The property is well connected to major highways and public transport, providing easy access to the greater Phoenix Metropolitan Area. Seller May Carry
More Information MLS# 6858057
Contract Info
Ownership: Fee Simple
Current Price: $4,500,000
Sold Price: $4,500,000
Status: Closed
List Date: 2025-04-28
Location, Tax & Legal
Assessor's Map #: 32
Legal Description (Abbrev): LOT 45 ENCHANTED VILLAGE MCR 010714
Assessor's Parcel #: 151
Add'l Parcels: Yes
Tax Municipality: Mesa
Census Tract: 420901
Taxes: 8133
Legal: LOT 45 ENCHANTED VILLAGE MCR 010714
Marketing Name: Enchanted Village
House Number: 1041
Compass: N
Street Name: MESA
St Suffix: Drive
City/Town Code: Mesa
State/Province: AZ
Zip Code: 85201
Zip4: 3543
County Code: Maricopa
Subdivision: ENCHANTED VILLAGE
Assessor Number: 137-32-151
Tax Year: 2024
General Property Description
# of Buildings: 6
Uncvrd Parking Spcs: 9
Lot Size Dimensions: 57582
Total # of Units: 24
Elementary School District: Mesa Unified District
High School District: Mesa Unified District
Year Built: 1972
Zoning: Multi
Legal Info
Range: 5E
Section: 14
Township: 1N
Lot Number: 45
Project Type
13 - 24 Units: 1
Construction
Block: 1
Other: 1
Const - Finish
Brick Veneer: 1
Roofing
Composition: 1
Built-Up: 1
Foam: 1
See Remarks: 1
Floors
Concrete: 1
Wood: 1
Ceramic Tile: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Ins Exp: 8700
Annual Landscape Exp: 3600
Annual Maint Exp: 9600
Annual Trash Exp: 1500
Annual Wtr/Swr Exp: 3000
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 34533
Other Income: 1200
Vacancy Allowance: 2
Adjusted Gross Inc: 404400
Total Monthly Rental Income: 33600
Pmt & Rate Info
Cap Rate: 7.54
Equity: 5100000
1st Encumbrance: 0
Down Payment %: 40
Monthly Payments: 0
1st Interest Rate: 0
1st Payment: 0
2nd Encumbrance: 0
2nd Payment: 0
3rd Encumbrance: 0
3rd Payment: 0
Total Owed: 0
Showing Notification Methods
Showing Service: No Showing Service Used
Text: 1
Email: 1
Phone Call: 1
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Electric: 1
Individual: 1
Central: 1
Cooling
Ceiling Fan(s): 1
Central Air: 1
Electric: 1
Individual: 1
Exterior Amenities
Desert Landscaping: 1
Partially Fenced: 1
Cable TV Available: 1
Patio/Balcony: 1
Security Light(s): 1
Interior Features
Unfurnished: 1
Fire/Smoke Alarm(s): 1
Mini Blinds: 1
Tenant Pays
Electricity: 1
Cable TV: 1
Appliances Included
Built-In Electric Oven: 1
Refrigerator: 1
See Remarks: 1
Road Access Type
Dedicated Street: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Projected Proforma: 1
Books Shwn Accpt Ofr: 1
Water Source
City Franchise: 1
Master Meter: 1
Sewer
Sewer - Public: 1
Parking Features
Carport: 1
1 Space/Unit: 1
Paved: 1
Assigned: 1
See Remarks: 1
Electric
City Electric: 1
Individual Meter: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
New Financing
Cash: 1
Owner May Carry: 1
Special
Incorporated Area: 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
Seller Prop Disc Stm: 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
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 24
Avg Rent: 1400
Avg SqFt: 711
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Carryback
Loan Years: 5
Closing Cost Split: Normal - N
Payment Type: Balloon
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 1500
Seller Concession $/%: $
Remarks Misc
Cross Street: Mesa Drive and Brown
Directions: Just South of Brown on Mesa Drive. Next to Strip Center is the Cul DE Sac
Geo Lat: 33.434458
Geo Lon: -111.822427
Status Change Info
Off Market Date: 2025-07-21
Under Contract Date: 2025-06-04
Close of Escrow Date: 2025-08-14
Sold Price: $4,500,000
Income Expenses
Gross Annual Sch Inc: 403200
Net Operating Income: 384439
Property Features
Project Type: 13 - 24 Units
Construction: Block; Other
Const - Finish: Brick Veneer
Roofing: Composition; Built-Up; Foam; See Remarks
Floors: Concrete; Wood; Ceramic Tile
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Desert Landscaping; Partially Fenced; Cable TV Available; Patio/Balcony; Security Light(s)
Interior Features: Unfurnished; Fire/Smoke Alarm(s); Mini Blinds
Appliances Included: Built-In Electric Oven; Refrigerator; See Remarks
Heating: Individual; Central
Cooling: Ceiling Fan(s); Electric; Individual; Central Air
Water Source: City Franchise; Master Meter
Sewer: Sewer - Public
Electric: City Electric; Individual Meter
Gas: None
Parking Features: Carport; 1 Space/Unit; Assigned; Paved; See Remarks
Road Access Type: Dedicated Street
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection
Tenant Pays: Electricity; Cable TV
Source of Fincl Data: Projected Proforma; Books Shwn Accpt Ofr
Special: Incorporated Area
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
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: Cash; Owner May Carry
Environmental: None
Documents
Offering Memorandum ›
Listing Office:
Better Homes & Gardens Real Estate SJ Fowler
Last Updated: August - 14 - 2025
Copyright 2025 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.