$4,250,000
750 E DANA Avenue
Mesa, AZ 85204
MLS# 6334436
Status: Closed

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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
IDX
Listing Office: America's All In One Real Estate Services, Inc.

Last Updated: February - 18 - 2023

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