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

5825 E University Drive, Mesa, AZ 85205

$5,880,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $5,880,000 Last Modified: 5/30/2023

More Information 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

Listing Office: Marcus & Millichap

Last Updated: May - 30 - 2023