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702 W Pepper Place

Mesa, AZ 85201
  • $385,000
  • STATUS: Active Under Contract
  • MLS #: 6251214
Under Contract
$385,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1955
County:
Area:

School Ratings & Info

School District:

Description

Great investment opportunity!! 2 separate homes on same lot, separate meters. Front home is 3bed/1bath 1021 sqft, newer kitchen cabinets, flooring, well maintained. NEW AC UNIT!! Front home has fenced backyard. Back home is 1bed/1bath 500 sqft, good condition. Nice sized lot, lots of parking space, NO HOA. Highly desirable area located in Mesa historic district near schools, shopping, new ASU campus, downtown Mesa and light rail. Townhomes/Condos are being built on this street. Check out the information provided under the documents tab. Investors can expect to walk into a cap rate over 6%. Remodeled homes in this area are selling for $335/sqft or up to $1700/month for rent. Mesa is investing millions to re-invent Mesa.

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© 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. The ARMLS logo indicates a property listed by a real estate brokerage other than A.Z. & Associates Real Estate Group. Data last updated 2021-10-16T00:17:24.667.
www.soldbytlt.com/homes/118694770
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702 W Pepper Place Mesa, AZ 85201

  • Price: $385,000
  • Status: Active Under Contract
  • MLS #: 6251214
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1955
Built
County:
Maricopa
Area:
Mesa
School District:
004 - Mesa Unified District
Property Description
Great investment opportunity!! 2 separate homes on same lot, separate meters. Front home is 3bed/1bath 1021 sqft, newer kitchen cabinets, flooring, well maintained. NEW AC UNIT!! Front home has fenced backyard. Back home is 1bed/1bath 500 sqft, good condition. Nice sized lot, lots of parking space, NO HOA. Highly desirable area located in Mesa historic district near schools, shopping, new ASU campus, downtown Mesa and light rail. Townhomes/Condos are being built on this street. Check out the information provided under the documents tab. Investors can expect to walk into a cap rate over 6%. Remodeled homes in this area are selling for $335/sqft or up to $1700/month for rent. Mesa is investing millions to re-invent Mesa.
Exterior Features

Construction BlockFrame - Wood Construction Finish Brick Trim/VeneerPainted Covered Parking Spaces 0.00 Exterior Amenities Desert LandscapingFenced Lot Size Dimensions 7841 Square Feet Parking >1 Space Per UnitPaved Parking Roads AsphaltSidewalk(S) Roofing Comp Shingle

Interior Features

1 Bedroom Unit Avg Sq Ft 500 1 Bedroom Unit Baths 1 2 Bedroom Unit Avg Sq Ft 0 2 Bedroom Units Baths 0 3 Bedroom Unit Avg Sq Ft 1021 3 Bedroom Unit Baths 1 4 Bedroom Unit Avg Sq Ft 0 4 Bedroom Unit Baths 0 Appliances Included Bi Oven/RangeDisposalRefrigeratorW/D Hookup Cooling Central A/C Efficiency Unit Avg Sq Ft 0 Efficiency Unit Baths 0 Floors CarpetCeramic TileConcrete Heating Natural Gas

Property Features

1 Bedroom Unit Avg Rent 1000.00 1 Bedroom Units 1 2 Bedroom Unit Avg Rent 0.00 2 Bedroom Units 0 3 Bedroom Unit Avg Rent 1400.00 3 Bedroom Units 1 4 Bedroom Unit Avg Rent 0.00 4 Bedroom Units 0 Adjusted Gross Inc 30200.00 Annual Ins Exp 900.00 Annual Maint Exp 900.00 Annual Ownr Asoc Fee 0.00 Community Amenities No Pool Cross Street Main St And Extension Rd Efficiency Unit Avg Rent 0.00 Efficiency Units 0 Electric City Electric Gas City Gas Gross Annual Sch Inc 30200.00 Hoa YN No Net Operating Income 27785.00 New Financing 1031 ExchangeConventionalFhaVa Operating Exp 2415.00 Other Income 0.00 Other Type House + Rental Units Owner Pays None Project Type Duplex Sale Includes Land & Building Sewer Sewer - Public Source Of Financial Data Projected Proforma Tax Municipality Mesa Taxes 615.00 Tenant Pays Cable TvElectricGasSewerTrashWater UCB Ucb (Under Contract-Backups) Vacancy Allowance 0.00 Water City Franchise Zoning [Rm-3] Resident

Listing courtesy of Synchronicity Realty.


© 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. The ARMLS logo indicates a property listed by a real estate brokerage other than A.Z. & Associates Real Estate Group. Data last updated 2021-10-16T00:17:24.667.
 
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