$425,000
$470,000
9.6%For more information regarding the value of a property, please contact us for a free consultation.
SOLD DATE : 05/29/2025
Key Details
Sold Price $425,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Bowen Tract
MLS Listing ID 6837131
Sold Date 05/29/25
Maintenance Fees $220
Year Built 1957
Annual Tax Amount $745
Tax Year 2024
Lot Dimensions 90*70
Source Arizona Regional Multiple Listing Service (ARMLS)
Property Description
New roof installed in Feb'25 with lifetime shingles and 5 year warranty. New AC & water heaters, all tile flooring. Fully occupied with long term tenants, cash flow positive, current CAP rate at 6.9%, future pro forma to be 7.5%. This duplex features 2 units, one is 1 bedroom, 1 bath. the other is 3 bedrooms, 2 baths. 3 bedrooms unit has a huge 1,200 sqft back yard with 2 sheds. This duplex is poised for continuous appreciation in a growing Mesa area, centrally located near 202, 101 and many nearby attractions. Long term tenants in place with potential to further raise rents to market rents. See P&L details in documents section. Do not disturb tenants, showing by appointments only. The selling agent is a partial owner of the property
Location
State AZ
County Maricopa
Community Bowen Tract
Zoning R-2
Interior
Heating ENERGY STAR Qualified Equipment, Central, Electric
Cooling Central Air, Ceiling Fan(s), ENERGY STAR Qualified Equipment, Electric
Flooring Ceramic Tile, Vinyl
Appliance Dishwasher, Free-Standing Electric Oven, W/D Hookup
Exterior
Parking Features Paved, Free, Add'l Parking Avail, >1 Space Per Unit
Community Features No Pool
Roof Type Other,See Remarks
Total Parking Spaces 8
Building
Sewer Public Sewer
Water City Franchise
New Construction No
Schools
School District Mesa Unified District
Others
Senior Community No
Tax ID 137-29-008
Acceptable Financing 1031 Exchange
Listing Terms 1031 Exchange
Financing Cash
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Bought with Fathom Realty
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Agent | License ID: SA585360000