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750 E DANA Avenue, Mesa, AZ 85204

$4,400,000
Property Type: Multiple Dwellings Status: Active
Current Price: $4,400,000 List Date: 12/22/2021 Last Modified: 12/26/2021

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

Current Price: $4,400,000 List Price: $4,400,000 Status: Active List Date: 2021-12-22 Ownership: Fee Simple

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 Country: USA County Code: Maricopa 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 Subdivision: Sunset at Horne Assessor's Map #: 28 Assessor's Parcel #: 109 Assessor Parcel Ltr: E Add'l Parcels: Yes Assessor Number: 138-28-109-E 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 Census Tract: 421501 Tax Municipality: Mesa Taxes: 672 Tax Year: 2021 Marketing Name: Sunset at Horne

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: Franklin East Elementary School Jr. High School: Franklin At Alma Elementary High School: Westwood High School Elem School Dist #: 004 - Mesa Unified District High School Dist #: 004 - Mesa Unified District

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

Status Change Date: 2021-12-22

Legal Info

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

Income & Expenses

Annual Ins Exp: 10000 Annual Landscape Exp: 6000 Owner Association: No Operating Exp: 16672 Gross Annual Sch Inc: 264000 Vacancy Allowance: 0.05 Adjusted Gross Inc: 250800 Net Operating Income: 234800

Pmt & Rate Info

Cap Rate: 5.34 Equity: 4400000

4 Bedrooms Units

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

Property Features

Project Type: 5 - 12 Units Construction: Frame - Wood Const - Finish: Stucco Roofing: Foam Floors: Vinyl; Carpet Sale Includes: Land & Building Community Amenities: No Pool Exterior Amenities: Landscape Wtr System; Desert Landscaping; Cable TV Available; Patio/Balcony Interior Amenities: Unfurnished; Fire Sprinklers Appliances Included: Dishwasher; Microwave Cooling: Ceiling Fan(s); Electric; Central A/C Water: City Franchise; Individual Meter Sewer: Sewer - Public Electric: City Electric Gas: None Parking: Garage; Street Parking; 1 Space/Unit; >1 Space Per Unit; Attached; Auto Door Opener; Paved Parking Roads/Streets: Asphalt Owner Pays: Landscaping Tenant Pays: Water; Sewer; Electric; Trash; Cable TV Source of Fincl Data: Provided by Owner Special: Owner/Agent Existing 1st Loan: Conventional New Financing: Conventional Reports/Disclosures: Seller Prop Disc Stm Environmental: None
Listing Office: America's All In One Real Estate Services, Inc.
Last Updated: December - 26 - 2021
750 E DANA Avenue, Mesa, AZ 85204- MLS# 6334436
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