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
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
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
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.