448 S MESA Drive, Mesa, AZ 85210
$2,900,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$2,900,000
Last Modified:
12/09/2017
Description
Villa Del Prado is a 44-unit garden-style apartment community located in a desirable central Mesa neighborhood. Built in 1983, the property is made of wood frame and stucco construction with pitched tile roofs and is individually- metered for electricity.
The property has a unit mix consisting of one and two-bedroom floor plans that are spacious, well designed and average approximately 707 square feet. Interior unit features include fully appointed kitchens with electric appliances, ceramic tile flooring, window shade screens, mini blinds, ample closet space and ceiling fans.
More Information MLS# 5588895
Contract Info
Ownership: Fee Simple
Current Price: $2,900,000
Sold Price: $2,900,000
Status: Closed
List Date: 2017-04-11
Location, Tax & Legal
Assessor's Map #: 36
Legal Description (Abbrev): LOT 4 BLOCK 1 ALMOND PLACE MCR 002304
Assessor's Parcel #: 35
Add'l Parcels: Yes
Tax Municipality: Maricopa - COUNTY
Census Tract: 422001
Taxes: 7004.82
Legal: LOT 4 BLOCK 1 ALMOND PLACE MCR 002304
Marketing Name: Villa Del Prado
Map Code/Grid: Q39
House Number: 448
Compass: S
Street Name: MESA
St Suffix: Drive
City/Town Code: Mesa
State/Province: AZ
Zip Code: 85210
Zip4: 2704
County Code: Maricopa
Subdivision: ALMOND PLACE
Assessor Number: 139-36-035
Tax Year: 2016
General Property Description
# of Buildings: 7
Uncvrd Parking Spcs: 60
Lot Size Dimensions: 238.50' x 270'
Total # of Units: 44
Elementary School District: Mesa Unified District
High School District: Mesa Unified District
Year Built: 1983
Zoning: RM-4
Legal Info
Range: 5E
Section: 27
Township: 1N
Block: 1
Lot Number: 4
Project Type
25 - 50 Units: 1
Construction
Wood Frame: 1
Const - Finish
Painted: 1
Stucco: 1
Roofing
Tile: 1
Floors
Ceramic Tile: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 0
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 0
Annual Mgmt Exp: 0
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 0
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 7004.82
Other Income: 24240
Vacancy Allowance: 0.07
Adjusted Gross Inc: 330559.2
Pmt & Rate Info
Cap Rate: 6.15
Down Payment: 900000
Equity: 3000000
Down Payment %: 30
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Community Features
Pool: 1
Barbecue: 1
Heating
Individual: 1
Cooling
Electric: 1
Individual: 1
Exterior Amenities
Landscape Water System: 1
Green Landscaping: 1
Patio/Balcony: 1
Interior Features
Unfurnished: 1
Mini Blinds: 1
Tenant Pays
Electricity: 1
Appliances Included
Refrigerator: 1
Free-Standing Range: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
1 Space/Unit: 1
Paved: 1
Electric
Individual Meter: 1
Gas
SW Gas: 1
Owner Pays
Water: 1
Gas: 1
New Financing
Conventional: 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 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
None: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Contact Info
List Agent Home Phn: 602-735-5634
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 21
Avg Rent: 575
Avg SqFt: 600
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 21
Avg Rent: 675
Avg SqFt: 800
# Baths: 1
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: 0
Buyer Concession $/%: %
Seller Concession to Buyer: 0
Seller Concession $/%: %
Remarks Misc
Geo Lat: 33.406528
Geo Lon: -111.823541
Status Change Info
Off Market Date: 2017-11-08
Under Contract Date: 2017-10-24
Close of Escrow Date: 2017-12-08
Sold Price: $2,900,000
Income Expenses
Gross Annual Sch Inc: 331200
Net Operating Income: 184392
Property Features
Project Type: 25 - 50 Units
Construction: Wood Frame
Const - Finish: Painted; Stucco
Roofing: Tile
Floors: Ceramic Tile
Sale Includes: Land & Building
Community Features: Pool; Barbecue
Exterior Amenities: Landscape Water System; Green Landscaping; Patio/Balcony
Interior Features: Unfurnished; Mini Blinds
Appliances Included: Free-Standing Range; Refrigerator
Heating: Individual
Cooling: Electric; Individual
Water Source: City Franchise
Sewer: Sewer - Public
Electric: Individual Meter
Gas: SW Gas
Parking Features: 1 Space/Unit; Paved
Road Surface Type: Asphalt
Owner Pays: Water; Gas
Tenant Pays: Electricity
Source of Fincl Data: Owner
Existing 1st Loan: Treat as Free&Clear
Existing 1st Loan Type: Not Applicable
Existing 1st Loan Terms: Not Applicable
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: Conventional
Environmental: None
Listing Office:
CBRE, Inc
Last Updated: December - 09 - 2017
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