5825 E University Drive, Mesa, AZ 85205 (MLS# 6489483)

Contract Info

Ownership: Fee Simple

Current Price: $5,880,000

Sold Price: $5,880,000

Status: Closed

List Date: 2022-11-14

Location, Tax & Legal

Assessor's Map #: 49

Assessor's Parcel #: 6

Assessor Parcel Ltr: K

Add'l Parcels: Yes

Tax Municipality: Mesa

Taxes: 10236

Legal: TH PT E2 NE4 SEC 23 DAF COM NW COR E2 NE4 SD SEC TH E 297.44F S 194.07F TO TPOB TH S 101.92F W 138.06F N 101.75F E 137.9

Marketing Name: Suncourt Villas

Map Code/Grid: R41

House Number: 5825

Compass: E

Street Name: University

St Suffix: Drive

City/Town Code: Mesa

State/Province: AZ

Zip Code: 85205

County Code: Maricopa

Assessor Number: 141-49-006-K

Tax Year: 2022

General Property Description

# of Buildings: 7

Uncvrd Parking Spcs: 12

Lot Size Dimensions: 98,200 sf

Total # of Units: 28

Elementary School District: Mesa Unified District

High School District: Mesa Unified District

Year Built: 1983

Zoning: R-3

Project Type

25 - 50 Units: 1

Construction

Block: 1

Const - Finish

Painted: 1

Roofing

Foam: 1

Floors

Concrete: 1

Sale Includes

Land & Building: 1

Income & Expenses

Annual Elec Exp: 24460

Annual Ins Exp: 4390

Annual Landscape Exp: 7000

Annual Legal & Acctg: 7459

Annual Maint Exp: 19208

Annual Mgmt Exp: 19491

Owner Association: No

Annual Ownr Asoc Fee: 0

Annual Rplcmnt Rsrvs: 8400

Annual Other Expense: 19457

Operating Exp: 120101

Other Income: 29799

Vacancy Allowance: 0.05

Adjusted Gross Inc: 490658.85

Pmt & Rate Info

Cap Rate: 5.35

Equity: 6850000

Down Payment %: 30

Monthly Payments: 0

Total Owed: 0

Showing Notification Methods

Text: 1

Lockbox Type

None: 1

Community Features

No Pool: 1

Heating

Wall Furnace: 1

Cooling

Electric: 1

Individual: 1

Exterior Amenities

Desert Landscaping: 1

Fenced: 1

Patio/Balcony: 1

Tenant Pays

Electricity: 1

Appliances Included

Built-In Range: 1

Road Surface Type

Asphalt: 1

Source of Fincl Data

Owner: 1

Projected Proforma: 1

Water Source

City Franchise: 1

Master Meter: 1

Sewer

Sewer - Public: 1

Parking Features

>1 Space Per Unit: 1

Electric

SRP: 1

Gas

SW Gas: 1

Owner Pays

Water: 1

Sewer: 1

Trash Collection: 1

Landscaping: 1

New Financing

Conventional: 1

No Carry: 1

1031 Exchange: 1

Reports/Disclosures

None: 1

Environmental

None: 1

Efficiency Units

Avg Rent: 0

1 Bedroom Units

# 1 Bedroom Units: 14

Avg Rent: 1332

Avg SqFt: 645

# Baths: 14

2 Bedroom Units

# 2 Bedroom Units: 14

Avg Rent: 1582

Avg SqFt: 925

# Baths: 14

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Sold Info

Loan Type: Other

Loan Years: 5

Closing Cost Split: Normal - N

Payment Type: Fixed

Buyer Concession to Seller: 0

Buyer Concession $/%: %

Seller Concession to Buyer: 0

Seller Concession $/%: %

Remarks Misc

Geo Lat: 33.42223

Geo Lon: -111.704602

Status Change Info

Off Market Date: 2023-05-30

Under Contract Date: 2023-02-15

Close of Escrow Date: 2023-05-19

Sold Price: $5,880,000

Income Expenses

Gross Annual Sch Inc: 486684

Net Operating Income: 366772

Property Features

Project Type: 25 - 50 Units

Construction: Block

Const - Finish: Painted

Roofing: Foam

Floors: Concrete

Sale Includes: Land & Building

Community Features: No Pool

Exterior Amenities: Desert Landscaping; Fenced; Patio/Balcony

Appliances Included: Built-In Range

Heating: Wall Furnace

Cooling: Electric; Individual

Water Source: City Franchise; Master Meter

Sewer: Sewer - Public

Electric: SRP

Gas: SW Gas

Parking Features: >1 Space Per Unit

Road Surface Type: Asphalt

Owner Pays: Water; Trash Collection; Landscaping

Tenant Pays: Electricity

Source of Fincl Data: Owner; Projected Proforma

Showing Notification Methods: Text

Lockbox Type: None

New Financing: Conventional; No Carry; 1031 Exchange

Environmental: None

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