480-442-0779

750 E 1ST Avenue, 1, Mesa, AZ 85204 (MLS# 6775230)

750 E 1ST Avenue, 1, Mesa, AZ 85204

$2,899,000
Property Type: Multiple Dwellings Status: Active
Current Price: $2,899,000 Last Modified: 2/12/2025

Description

Price Reduced...This 16-unit complex is centrally located within the thriving core of the city of Mesa near the city's historic residential district. The unit mix consists of eight studio/1 bath units and eight 1 bed/1 bath units. The majority of the interiors have been professionally renovated incl.: fresh paint; new shaker-styled kitchen cabinets; new Quartz kitchen countertops surrounded by subway-styled back splashes; all new stainless steel kitchen appliances including new in-suite washer/dryer units; new modern interior doors and exterior front door; and most with new trendy plank flooring. Exterior features include fresh paint and a gated courtyard with synthetic grass which features a grilling area. Outside of the gated area consists of low cost/maintenance desert landscaping. T

Supplements: private parking lot provides an abundance of parking and the roofs on both buildings were replaced in 2019. Demand is seemingly growing within the area for units that are central, smaller, close to public transportation, however, with remodeled interiors. As such, this property is conveniently located within walking distance from the highly sought-after Valley Metro Light Rail Line. The nearby employment base is vast which consists of large & small employers. The district serves its residents well by providing an abundance of choices related to shopping, dining, entertainment, schools and hospitals. Furthermore, this complex is located within the City of Mesa "Opportunity Zone" which continues to attract more investors as they continue to substantially improve existing properties within the district. Large new developments have also been completed with others in the pipeline. Buyer to verify all facts and figures. Drive by only...please do not disturb residents.

More Information MLS# 6775230

Contract Info

Current Price: $2,899,000 List Price: $2,899,000 Status: Active List Date: 2024-10-24 Ownership: Fee Simple

Location Tax Legal

House Number: 750 Compass: E Street Name: 1ST St Suffix: Avenue City/Town Code: Mesa State/Province: AZ Zip Code: 85204 Zip4: 1078 Country: USA County Code: Maricopa Subdivision: CHULA VISTA AMD Assessor Number: 138-28-078 Tax Year: 2024

General Property Description

Lot Size Dimensions: IRR Year Built: 1978 Uncvrd Parking Spcs: 22 Total # of Units: 16 # of Buildings: 2 Zoning: MF Elementary School District: Mesa Unified District High School District: Mesa Unified District

Remarks Misc

Cross Street: Main St. & Horne (NW corner of Horne & 1st Ave) Directions: (NW corner of Horne & 1st Ave) Geo Lat: 33.41366 Geo Lon: -111.814444

Status Change Info

Status Change Date: 2024-10-24

Legal Info

Township: 1N Range: 5E Section: 23 Lot Number: 9

Income Expenses

Gross Annual Sch Inc: 211984 Net Operating Income: 156239

Showing Notification Methods

Showing Service: Aligned Showings

Efficiency Units

# Efficiency Units: 8 Avg Rent: 1080 Avg SqFt: 315 # Baths: 1

1 Bedroom Units

# 1 Bedroom Units: 8 Avg Rent: 1128 Avg SqFt: 415 # Baths: 1

Property Features

Project Type: 13 - 24 Units Construction: Block Const - Finish: Painted; Stucco Roofing: Comp Shingle; Foam Floors: Vinyl; Ceramic Tile Sale Includes: Land & Building Community Amenities: No Pool; Barbecue Exterior Amenities: Green Landscaping; Desert Landscaping; Partially Fenced Appliances Included: F/S Oven/Range; Refrigerator; Microwave; Washer/Dryer; W/D Hookup Heating: Individual; Heat Pump Cooling: Ceiling Fan(s); Electric; Individual; Central A/C Water: City Franchise; Master Meter Sewer: Sewer - Public Electric: City Electric Gas: None Parking: >1 Space Per Unit; Free; Paved Parking Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electric Source of Fincl Data: Provided by Owner; Projected Proforma Lockbox Type: Supra (ARMLS) New Financing: Cash; Conventional; No Carry; 1031 Exchange Environmental: None
Listing Office: Better Homes & Gardens Real Estate SJ Fowler
Last Updated: February - 12 - 2025
750 E 1ST Avenue, 1, Mesa, AZ 85204- MLS# 6775230
Copyright 2024 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.