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38 N SANTA BARBARA Street Mesa, AZ 85201
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Key Details
Sold Price $2,800,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision San Clemente
MLS Listing ID 6524301
Sold Date 12/08/23
Maintenance Fees $6,000
Originating Board Arizona Regional Multiple Listing Service (ARMLS)
Year Built 1985
Annual Tax Amount $1,628
Tax Year 2022
Lot Dimensions 1/2 Acre (Rectangular)
Property Description
This fully remodeled 12 unit complex, located along the central corridor of Main St. in Mesa, is being offered as a fantastic turnkey investment opportunity. Built in 1985, the unit mix consists of twelve 2 bed/1 bath units which are nearly 900sqft in size. The extensive professional renovations were completed in late 2021. Just some of the interior upgrades include: fresh paint; new shaker kitchen cabinets; new kitchen countertops; new plank flooring; new stainless-steel appliances; and new in-suite washer/dryers.
Exterior amenities consist of: fresh paint; several main level units with walk-out private yards; an abundance of off-street private parking; and upgraded low cost/maintenance desert landscaping. The roofs on all 3 buildings were replaced in Dec-2019.
Demand is high for these units as they are located near the highly sought-after Valley Metro Light Rail Line as well as within close proximity of the 101 freeway and ASU. The nearby employment base is vast which consists of large & small employers. The district serves its residents well by providing an abundance of choices related to shopping, dining, entertainment, schools and hospitals.
As such, this investment offers a hassle-free investment opportunity as it is stabilized, fully renovated and has a strong revenue stream right at acquisition. All 3 fourplexes are side-by-side with each having their own parcel numbers. Therefore, this package offering is conducive to either Commercial or Residential Financing.
Furthermore, this complex is located within a City of Mesa "Opportunity Zone" which continues to attract more investors in substantially improving existing properties within the district. Large new developments have also been completed with others in the pipeline. More information on the "Opportunity Zone" can be found at: www.selectmesa.com/business-environment/incentives-programs/opportunity-zones
Buyer to verify all facts and figures. Drive by only...please do not disturb residents.
Location
State AZ
County Maricopa
Community San Clemente
Zoning MULTI-FAMILY
Interior
Flooring Carpet, Vinyl
Appliance FS OvenRange, WasherDryer
Exterior
Garage Paved Parking, Free, >1 Space Per Unit, Street Parking
Community Features No Pool
Waterfront No
Roof Type Composition
Total Parking Spaces 18
Building
Sewer Public Sewer
Water City Franchise
Schools
School District Mesa Unified District
Others
Senior Community No
Tax ID 135-47-068
Acceptable Financing No Carry, Conventional
Listing Terms No Carry, Conventional
Financing Conventional
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Bought with Non-MLS Office