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860 E BROWN Road, 41, Mesa, AZ 85203,Mesa,Maricopa,Multiple Dwellings

  • $950,000
860 E BROWN Road, 41, Mesa, AZ 85203
Multiple Dwellings Pending

860 E BROWN Road, 41, Mesa, AZ 85203,Mesa,Maricopa,Multiple Dwellings

860 E BROWN Road, 41, Mesa, AZ 85203
  • $950,000

Description

Discover an advantageous investment opportunity in Mesa’s sought-after rental market with this well-maintained four-unit property. Plus, it is ideal for investors seeking a 1031 exchange or a stable income stream.

Located just minutes from downtown Mesa, this desirable multi-family home features recent upgrades, including two newly remodeled units.

All units are currently rented, and tenants are responsible for electricity and gas.

The apartment mix includes a spacious single-level unit with three bedrooms and two baths, two townhome-style units each with two bedrooms and 1.5 baths, and a private two bedroom, 1.5 bath apartment above the garages. Recent enhancements include new outlets, switches, washer, and dryer hookups, efficient 14 SEER heat pumps, & modern LED exterior lighting.

Additional upgrades feature a newer roof, refreshed exterior paint, and two units recently remodeled to attract higher rents. Shared garages have been converted into private single-car garages with openers & remotes, enhancing tenant satisfaction and property value.

Residents enjoy a community pool, private patios, garage parking, and professionally maintained landscaping.

Detailed Cap Rates and improvement records are available upon request, highlighting strong rental income potential and historical performance.

Do not miss this rare opportunity to acquire a turnkey multi-family property in Mesa.

Contact the listing Agent if you have any questions or need further assistance!

Details

Property ID
6728850
Year Built
1980
Updated on November 13, 2024 at 2:01 am

Additional details

  • AdditionalParcelsYN:
  • CommunityFeatures: Pool
  • ConstructionMaterials: Stucco,Frame - Wood
  • Cooling: Heat Pump,ENERGY STAR Qualified Equipment
  • CoveredSpaces: 4
  • CrossStreet: Brown and Stapley Dr
  • Directions: West on Brown Rd, north at third turn into complex, 4-plex is located in the northwest corner of the complex - Building 4, Units 41-44.
  • Disclosures: Seller Prop Disc Stm
  • DocumentsChangeTimestamp: 2024-07-08T22:29:51Z
  • DocumentsCount: 0
  • Electric: SRP,Master Meter
  • ElementarySchool: Edison Elementary School
  • ElementarySchoolDistrict: Mesa Unified District
  • FinancialDataSource: Owner
  • Flooring: Carpet,Ceramic Tile,Vinyl
  • GrossIncome: 76150.8
  • GrossScheduledIncome: 76920
  • Heating: Heat Pump,ENERGY STAR Qualified Equipment
  • HighSchool: Westwood High School
  • InsuranceExpense: 1750
  • ListAgentKey: 20190305221308639858000000
  • ListAgentMlsId: jl755
  • ListOfficeKey: 20180131155843560297000000
  • ListOfficeMlsId: best08
  • ListingContractDate: 2024-07-09
  • ListingKey: 20240702174935468153000000
  • ListingTerms: Conventional,1031 Exchange
  • LotSizeArea: 0
  • LotSizeDimensions: 3804
  • LotSizeSquareFeet: 0
  • MaintenanceExpense: 1200
  • MiddleOrJuniorSchool: Kino Junior High School
  • MlsStatus: Pending
  • ModificationTimestamp: 2024-11-13T00:44:43Z
  • NetOperatingIncome: 63714
  • NumberOfUnitsTotal: 4
  • OffMarketDate: 2024-10-17
  • OpenParkingSpaces: 0
  • OperatingExpense: 13206
  • OriginalEntryTimestamp: 2024-07-09T17:04:06Z
  • OriginatingSystemID: M00000048
  • OriginatingSystemKey: 20240702174935468153000000
  • OriginatingSystemName: Arizona Regional Multiple Listing Service (ARMLS)
  • OwnerPays: See Remarks,Trash Collection,Water,Sewer
  • ParcelNumber: 137-09-324
  • ParkingFeatures: Paved Parking,Assigned,Add'l Parking Avail,Auto Door Opener,Attached,1 Space/Unit
  • ParkingTotal: 4
  • PhotosChangeTimestamp: 2024-07-10T00:48:21Z
  • PhotosCount: 42
  • PostalCity: Mesa
  • PostalCodePlus4: 4939
  • PublicSurveyRange: 5E
  • PublicSurveySection: 14
  • PurchaseContractDate: 2024-10-17
  • RoadSurfaceType: Asphalt,Sidewalk(s)
  • Roof: Composition
  • Sewer: Public Sewer
  • SourceSystemID: M00000048
  • SourceSystemKey: 20240702174935468153000000
  • SourceSystemName: Arizona Regional Multiple Listing Service (ARMLS)
  • StateOrProvince: AZ
  • StatusChangeTimestamp: 2024-10-18T03:25:22Z
  • StreetDirPrefix: E
  • StreetName: BROWN
  • StreetNumber: 860
  • StreetSuffix: Road
  • TaxBookNumber: 137.00
  • TaxLegalDescription: LOT 4 SUN GARDENS REPLAT MCR 062030
  • TaxLot: 4
  • TaxYear: 2023
  • TenantPays: See Remarks,Gas,Electricity,Cable TV
  • Township: 1N
  • UnitNumber: 41
  • VacancyAllowanceRate: 0.01
  • VideosCount: 0
  • WaterSewerExpense: 2800
  • WaterSource: See Remarks,City Franchise,Master Meter,Individual Meter
  • Zoning: RM-4
  • ListAgentFirstName: John
  • ListAgentLastName: Lilly
  • ListAgentPreferredPhone: 602-570-8274
  • ListAgentURL: http://JLILLY.ARIZONABEST.COM
  • ListOfficeEmail: broker@arizonabest.com
  • ListOfficeName: Arizona Best Real Estate
  • ListOfficePhone: 480-948-4711
  • ContractStatusChangeDate: 2024-10-17
  • TaxAnnualAmount: 1754
  • InternetConsumerCommentYN:
  • InternetAutomatedValuationDisplayYN:
  • CapRate: 6.71
  • StreetNumberNumeric: 860
  • ListAgentFullName: John Lilly
  • InternetAddressDisplayYN: 1
  • NumberOfBuildings: 1
  • InternetEntireListingDisplayYN: 1

Address

  • Address BROWN
  • City Mesa
  • State/county Maricopa
  • Zip/Postal Code 85203
  • Area SUN GARDENS REPLAT

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