447 W RIO SALADO Parkway, Mesa, AZ 85201
$3,850,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$3,850,000
Last Modified:
8/12/2016
Overview
Listing Details MLS# 5423290
Location, Tax & Legal
- 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
- 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
Contract Info
- Ownership
- Fee Simple
General Property Description
- Lot Size Dimensions
- 2.21 AC
- Year Built
- 1986
- Uncvrd Parking Spcs
- 48
- Total # of Units
- 48
- # of Buildings
- 4
- Zoning
- RM-3
- Elementary School District
- Mesa Unified District
- High School District
- Mesa Unified District
Remarks Misc
- Cross Street
- W Rio Salado Pkwy & Country Club Dr in Mesa
Status Change Info
- Off Market Date
- 2016-06-01
- Under Contract Date
- 2016-05-31
- Close of Escrow Date
- 2016-08-10
Legal Info
- Lot Number
- 135-24-106
More Information
Income Expenses
- Gross Annual Sch Inc
- 432000
- Net Operating Income
- 311631
2 Bedroom Units
- # 2 Bedroom Units
- 48
- Avg Rent
- 658
- Avg SqFt
- 817
- # Baths
- 2
Contact Info
- List Agent Home Phn
- 480-767-3001
Sold Info
- Loan Type
- Conventional
- Loan Years
- 30
- Payment Type
- Fixed
- Closing Cost Split
- Normal - N
- Buyer Concession to Seller
- Yes
- Buyer Concession $/%
- $
- Seller Concession to Buyer
- Yes
- Seller Concession $/%
- $
Project Type
- 25 - 50 Units
- Yes
- RV Park
- Yes
Construction
- Wood Frame
- Yes
Const - Finish
- Painted
- Yes
- Stucco
- Yes
Roofing
- Built-Up
- Yes
Floors
- Vinyl
- Yes
- Carpet
- Yes
Sale Includes
- Land & Building
- Yes
- Pool Equipment
- Yes
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
- Yes
Heating
- Electric
- Yes
Cooling
- Electric
- Yes
Exterior Amenities
- Landscape Water System
- Yes
- Green Landscaping
- Yes
- Desert Landscaping
- Yes
- Fenced
- Yes
- Sidewalk(s)
- Yes
- Patio/Balcony
- Yes
- Guard Gate
- Yes
Interior Features
- Fire/Smoke Alarm(s)
- Yes
- Mini Blinds
- Yes
Tenant Pays
- Electricity
- Yes
- Cable TV
- Yes
Appliances Included
- Dishwasher
- Yes
- Disposal
- Yes
- Refrigerator
- Yes
- Free-Standing Range
- Yes
- Washer/Dryer
- Yes
- W/D Hookup
- Yes
Road Surface Type
- Asphalt
- Yes
Source of Fincl Data
- Projected Proforma
- Yes
Water Source
- City Franchise
- Yes
Sewer
- Sewer - Public
- Yes
Parking Features
- >1 Space Per Unit
- Yes
- Paved
- Yes
Electric
- APS
- Yes
- Individual Meter
- Yes
Gas
- None
- Yes
Owner Pays
- Water
- Yes
- Sewer
- Yes
- Trash Collection
- Yes
New Financing
- No Carry
- Yes
Existing 1st Loan
- Conventional
- Yes
Existing 1st Loan Type
- Fixed
- Yes
Existing 1st Loan Terms
- Assume - Qualify
- Yes
Existing 2nd Loan
- Treat as Free&Clear
- Yes
Existing 2nd Loan Type
- Not Applicable
- Yes
Existing 2nd Loan Terms
- Not Applicable
- Yes
Existing 3rd Loan
- Treat as Free&Clear
- Yes
Existing 3rd Loan Type
- Not Applicable
- Yes
Reports/Disclosures
- ALTA Survey Availbl
- Yes
Existing 3rd Loan Terms
- Not Applicable
- Yes
Environmental
- None
- Yes
Existing Othr Ln Trm
- Not Applicable
- Yes
Efficiency Units
- Avg Rent
- 0
1 Bedroom Units
- Avg Rent
- 0
3 Bedrooms Units
- Avg Rent
- 0
4 Bedrooms Units
- Avg Rent
- 0
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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