Investment Summary
Sought after 4 unit in Downtown Mesa. Well-maintained with some nice upgrades. Clear pride of ownership with local owners that self-manage. Unit mix consists of three large 2 bedroom/1 bath units (800 SF-$800 Rent +/-), along with a big Studio/1 bath unit (400 SF-$400 Rent +/-). Tenant paid electric with separate HVAC units in good condition. All tenant leases are due to expire August/September 2021. Rents are well-below market. Tile everywhere, w/d hookups. Carport. Close to Main St/LRT. SELLERS PREFER CASH OR NO FINANCING OFFERS; AT MINIMUM A WAIVED APPRAISAL. Showings in escrow only. Buyer to complete and rely on own due diligence. Absolutely nothing like this on the market. The cleaner the offer, the better.
Offering
Price: $560,000
Cap Rate: 4.64%
No. Unit: 4
Building Size: 2,800 SQ FT
Year Built: 1962
APN: 138-13-165
Financial Summary
| Gross Rental Income | $34,200 |
| Effective Gross Income | $32,520 |
| Total Expenses | $6,522 |
| Net Operating Income | $25,998 |
Unit Mix
| Description | No. Units | Avg. Rent | SQ. FT. |
| Studio 1 Bath | 1 | $400 | 400 |
| 2 Bed 1 Bath | 3 | $800 | 800 |
1532 E Broadway Rd Mesa Arizona 85204
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