$3,850,000
Mesa, AZ 85201
MLS# 5423290
Status: Closed
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Details
Contract Info
Ownership: Fee Simple
Current Price: $3,850,000
Sold Price: $3,850,000
Status: Closed
List Date: 2016-04-04
Location, Tax & Legal
Assessor's Map #: 24
Assessor's Parcel #: 106
Add'l Parcels: No
Tax Municipality: Mesa
Taxes: 16329
Legal: SAN REMO UNIT 101-124 201-224
Marketing Name: CYPRESS COMMONS APTS
Map Code/Grid: Q38
House Number: 447
Compass: W
Street Name: RIO SALADO
St Suffix: Parkway
City/Town Code: Mesa
State/Province: AZ
Zip Code: 85201
County Code: Maricopa
Subdivision: SAN REMO UNIT 101-124 201-224
Assessor Number: 135-24-106
Tax Year: 2015
General Property Description
# of Buildings: 4
Uncvrd Parking Spcs: 48
Lot Size Dimensions: 2.21 AC
Total # of Units: 48
Elementary School District: Mesa Unified District
High School District: Mesa Unified District
Year Built: 1986
Zoning: RM-3
Project Type
25 - 50 Units: 1
RV Park: 1
Construction
Wood Frame: 1
Const - Finish
Painted: 1
Stucco: 1
Roofing
Built-Up: 1
Floors
Vinyl: 1
Carpet: 1
Sale Includes
Land & Building: 1
Pool Equipment: 1
Income & Expenses
Annual Elec Exp: 3806
Annual Gas Exp: 0
Annual Ins Exp: 4585
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 33600
Annual Mgmt Exp: 13195
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 18694
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 12000
Annual Other Expense: 26000
Operating Exp: 128209
Other Income: 37000
Vacancy Allowance: 0.05
Adjusted Gross Inc: 445550
Pmt & Rate Info
Cap Rate: 7.8
Down Payment: 0
Equity: 3995000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Community Features
Pool: 1
Heating
Electric: 1
Cooling
Electric: 1
Exterior Amenities
Landscape Water System: 1
Green Landscaping: 1
Desert Landscaping: 1
Fenced: 1
Sidewalk(s): 1
Patio/Balcony: 1
Guard Gate: 1
Interior Features
Fire/Smoke Alarm(s): 1
Mini Blinds: 1
Tenant Pays
Electricity: 1
Cable TV: 1
Appliances Included
Dishwasher: 1
Disposal: 1
Refrigerator: 1
Free-Standing Range: 1
Washer/Dryer: 1
W/D Hookup: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Projected Proforma: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
>1 Space Per Unit: 1
Paved: 1
Electric
APS: 1
Individual Meter: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
New Financing
No Carry: 1
Existing 1st Loan
Conventional: 1
Existing 1st Loan Type
Fixed: 1
Existing 1st Loan Terms
Assume - Qualify: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
ALTA Survey Availbl: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Contact Info
List Agent Home Phn: 480-767-3001
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 48
Avg Rent: 658
Avg SqFt: 817
# Baths: 2
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Conventional
Loan Years: 30
Closing Cost Split: Normal - N
Payment Type: Fixed
Buyer Concession to Seller: 1
Buyer Concession $/%: $
Seller Concession to Buyer: 1
Seller Concession $/%: $
Remarks Misc
Cross Street: W Rio Salado Pkwy & Country Club Dr in Mesa
Geo Lat: 33.429425
Geo Lon: -111.841096
Status Change Info
Off Market Date: 2016-06-01
Under Contract Date: 2016-05-31
Close of Escrow Date: 2016-08-10
Sold Price: $3,850,000
Legal Info
Lot Number: 135-24-106
Income Expenses
Gross Annual Sch Inc: 432000
Net Operating Income: 311631
Property Features
Project Type: 25 - 50 Units; RV Park
Construction: Wood Frame
Const - Finish: Painted; Stucco
Roofing: Built-Up
Floors: Vinyl; Carpet
Sale Includes: Land & Building; Pool Equipment
Community Features: Pool
Exterior Amenities: Landscape Water System; Green Landscaping; Desert Landscaping; Fenced; Sidewalk(s); Patio/Balcony; Guard Gate
Interior Features: Fire/Smoke Alarm(s); Mini Blinds
Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Washer/Dryer; W/D Hookup
Cooling: Electric
Water Source: City Franchise
Sewer: Sewer - Public
Electric: APS; Individual Meter
Gas: None
Parking Features: >1 Space Per Unit; Paved
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection
Tenant Pays: Electricity; Cable TV
Source of Fincl Data: Projected Proforma
Existing 1st Loan: Conventional
Existing 1st Loan Type: Fixed
Existing 1st Loan Terms: Assume - Qualify
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Loan Type: Not Applicable
Existing 2nd Loan Terms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Loan Type: Not Applicable
Existing 3rd Loan Terms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: No Carry
Environmental: None
Listing Office: Keller Williams Arizona Realty
Last Updated: August - 12 - 2016
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