5233 E University Drive , J

    Mesa, AZ 85205
    • $1,275,000
    • STATUS: Closed
    • ON SITE: 132 days
    • MLS #: 5864712
    Sold - 04/24/2019
    $1,275,000
    SOLD - 04/24/2019
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1966
    County:
    Area:

    School Ratings & Info

    School District:

    Description

    Part of Dreamland Villas, this 12 unit offering provides a mix of spacious 1-bedroom and 2-bedroom rental units in a low density setting with large front and rear entries and covered porches. Each rental unit is individually metered for electricity with new service panels and has its own reserved covered parking space. Nine units have been tastefully updated to include new flooring, re-textured walls and ceilings, new counters, GFCI outlets, tiled shower surrounds and tiled kitchen back splashes, premium appliance packages, and upgraded lighting & plumbing fixtures. While rents are higher for the updated units, several are STILL well below market. Three 1-bedroom units remain period correct. Beautifully remodeled property offering Turnkey operation with easy upside in rents.

    Monthly Payment Calculator



    © 2019 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. The ARMLS logo indicates a property listed by a real estate brokerage other than Yost Realty Group at RE/MAX Casa Grande. Data last updated 2019-05-21T14:11:29.793.
    www.yosthomes.com/homes/90689408

    5233 E University Drive , J Mesa, AZ 85205

    • Price: $1,369,000
    • Status: Closed
    • Updated: 46 min ago
    • MLS #: 5864712
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    1966
    Built
    Neighborhood:
    Dreamland Villa 4
    County:
    Maricopa
    Area:
    Mesa
    School District:
    004 - Mesa Unified District
    Property Description
    Part of Dreamland Villas, this 12 unit offering provides a mix of spacious 1-bedroom and 2-bedroom rental units in a low density setting with large front and rear entries and covered porches. Each rental unit is individually metered for electricity with new service panels and has its own reserved covered parking space. Nine units have been tastefully updated to include new flooring, re-textured walls and ceilings, new counters, GFCI outlets, tiled shower surrounds and tiled kitchen back splashes, premium appliance packages, and upgraded lighting & plumbing fixtures. While rents are higher for the updated units, several are STILL well below market. Three 1-bedroom units remain period correct. Beautifully remodeled property offering Turnkey operation with easy upside in rents.
    Exterior Features

    Construction BlockBrick Construction Finish Painted Covered Parking Spaces 12.00 Exterior Amenities Desert LandscapingSecurity Light(S)Separate StoragePet RestrictionsPatio/Balcony Lot Size Dimensions irreg Parking 1 Space/UnitStreet ParkingCarport Roads Asphalt/BlacktopPrivate Street Roofing Comp Shingle Total Parking Spaces 16.00

    Interior Features

    1 Bedroom Unit Avg Sq Ft 700 1 Bedroom Unit Baths 1 2 Bedroom Unit Avg Sq Ft 800 2 Bedroom Units Baths 1 3 Bedroom Unit Avg Sq Ft 0 3 Bedroom Unit Baths 0 4 Bedroom Unit Avg Sq Ft 0 4 Bedroom Unit Baths 0 Appliances Included F/S Oven/RangeMicrowaveDisposalDishwasherRefrigerator Cooling Electric RefrigeratdHeat Pump Efficiency Unit Avg Sq Ft 0 Efficiency Unit Baths 0 Floors ConcreteVinyl/CompositionCeramic Tile Heating ElectricHeat Pump Interior Amenities UnfurnishedFire/Smoke Alarm(S)

    Property Features

    1 Bedroom Unit Avg Rent 791.00 1 Bedroom Units 8 2 Bedroom Unit Avg Rent 925.00 2 Bedroom Units 4 3 Bedroom Unit Avg Rent 0.00 3 Bedroom Units 0 4 Bedroom Unit Avg Rent 0.00 4 Bedroom Units 0 Adjusted Gross Inc 108813.00 Annual Elec Exp 700.00 Annual Gas Exp 0.00 Annual Ins Exp 2000.00 Annual Land Lse Exp 0.00 Annual Landscape Exp 2280.00 Annual Legal And Acctg 0.00 Annual Maint Exp 3600.00 Annual Mgmt Exp 0.00 Annual Other Expense 0.00 Annual Ownr Asoc Fee 0.00 Annual Pad Fee 0.00 Annual Rplcmnt Rsrvs 0.00 Annual Trash Exp 900.00 Annual Wtr Swr Exp 4200.00 Community Amenities Barbecue Area(S) Cross Street University And Higley Efficiency Unit Avg Rent 0.00 Efficiency Units 0 Electric Aps Gas None Gross Annual Sch Inc 114540.00 Hoa YN No Net Operating Income 91168.00 New Financing Other (See Remarks) Operating Exp 18250.00 Other Income 0.00 Owner Pays WaterLandscapingTrashSewer Project Type 5 - 12 Units Sale Includes Land & Building Sewer Septic Source Of Financial Data Provided By Owner Tax Municipality Maricopa - County Taxes 4570.00 Tenant Pays ElectricCable Tv Vacancy Allowance 0.05 Water City Franchise Zoning C-C

    Listing courtesy of Kasten Long Commercial Group.


    © 2019 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. The ARMLS logo indicates a property listed by a real estate brokerage other than Yost Realty Group at RE/MAX Casa Grande. Data last updated 2019-05-21T14:11:29.793.
     
    Yost Realty Group at RE/MAX Casa Grande
    317 E. Cottonwood Lane, Suite C
    Casa Grande AZ, 85122