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

$4,250,000

750 E DANA Avenue
Mesa, AZ 85204
MLS# 6334436
Status: Closed

1 / 24

Property 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.

Details

Maps

Contract Info

Ownership: Fee Simple

Current Price: $4,250,000

Sold Price: $4,250,000

Status: Closed

List Date: 2021-12-22

Location, Tax & Legal

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

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: US

County Code: Maricopa

Subdivision: Sunset at Horne

Assessor Number: 138-28-109-E

Tax Year: 2021

General Property Description

# of Buildings: 3

Uncvrd Parking Spcs: 10

Lot Size Dimensions: irregular

Flood Zone: No

Total # of Units: 10

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

Year Built: 2021

Zoning: multifamily

Legal Info

Range: 5E

Section: 23

Township: 1N

Lot Number: 1-10

Project Type

5 - 12 Units: 1

Construction

Wood Frame: 1

Const - Finish

Stucco: 1

Roofing

Foam: 1

Floors

Vinyl: 1

Carpet: 1

Sale Includes

Land & Building: 1

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: 1

Lockbox Type

None: 1

Community Features

No Pool: 1

Heating

Electric: 1

Cooling

Ceiling Fan(s): 1

Central Air: 1

Electric: 1

Exterior Amenities

Landscape Water System: 1

Desert Landscaping: 1

Cable TV Available: 1

Patio/Balcony: 1

Interior Features

Unfurnished: 1

Fire Sprinklers: 1

Tenant Pays

Water: 1

Sewer: 1

Electricity: 1

Trash Collection: 1

Cable TV: 1

Appliances Included

Dishwasher: 1

Microwave: 1

Road Surface Type

Asphalt: 1

Source of Fincl Data

Owner: 1

Water Source

City Franchise: 1

Individual Meter: 1

Sewer

Sewer - Public: 1

Parking Features

Garage: 1

On Street: 1

1 Space/Unit: 1

>1 Space Per Unit: 1

Attached: 1

Paved: 1

Garage Door Opener: 1

Electric

City Electric: 1

Gas

None: 1

Owner Pays

Landscaping: 1

New Financing

Conventional: 1

Special

Owner/Agent: 1

Existing 1st Loan

Conventional: 1

Reports/Disclosures

Seller Prop Disc Stm: 1

Environmental

None: 1

Efficiency Units

Avg Rent: 0

1 Bedroom Units

Avg Rent: 0

2 Bedroom Units

Avg Rent: 0

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

# 4 Bedroom Units: 10

Avg Rent: 2200

Avg SqFt: 2200

# Baths: 35

Sold Info

Loan Type: Conventional

Loan Years: 30

Closing Cost Split: Normal - N

Payment Type: Fixed

Buyer Concession to Seller: 0

Buyer Concession $/%: %

Seller Concession to Buyer: 0

Seller Concession $/%: %

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

Off Market Date: 2022-12-31

Under Contract Date: 2022-02-02

Close of Escrow Date: 2023-02-17

Sold Price: $4,250,000

Income Expenses

Gross Annual Sch Inc: 264000

Net Operating Income: 234800

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