Movoto Real Estate
Sold on 11/26/2024

860 E Brown Rd #41, Mesa, AZ 85203

  • $900,000

    Last sold 11/26/2024 after 140 Days

  • 9

    bed

  • 7

    bath

Multi-family not for sale
24 homes bought nearby with Movoto recently

About 860 E Brown Rd #41

Property type Multi-family
Neighborhood
Year built 1980
HOA fee $0/month
Property description
Discover an advantageous investment opportunity in Mesa's sought-after rental market with this well-maintained four-unit property. Plus, it is ideal for investors seeking a 1031 exchange or a stable income stream. Located just minutes from downtown Mesa, this desirable multi-family home features recent upgrades, including two newly remodeled units. All units are currently rented, and tenants are responsible for electricity and gas. The apartment mix includes a spacious single-level unit with three bedrooms and two baths, two townhome-style units each with two bedrooms and 1.5 baths, and a private two bedroom, 1.5 bath apartment above the garages. Recent enhancements include new outlets, switches, washer, and dryer hookups, efficient 14 SEER heat pumps, & modern LED exterior lighting. Additional upgrades feature a newer roof, refreshed exterior paint, and two units recently remodeled to attract higher rents. Shared garages have been converted into private single-car garages with openers & remotes, enhancing tenant satisfaction and property value. Residents enjoy a community pool, private patios, garage parking, and professionally maintained landscaping. Detailed Cap Rates and improvement records are available upon request, highlighting strong rental income potential and historical performance. Do not miss this rare opportunity to acquire a turnkey multi-family property in Mesa. Contact the listing Agent if you have any questions or need further assistance!
Listed by
Listing Agent - John Lilly
Listing Office - Arizona Best Real Estate
Source: ARMLS mls logo
MLS#6728850 • last updated 1 year ago
Movoto checked ARMLS for data 8 minutes ago
Overview
Cooling/AC ENERGY STAR Qualified Equipment, Heat Pump
Heating ENERGY STAR Qualified Equipment, Heat Pump
MLS # 6728850
Type Multiple Dwellings
Status Closed
Property Tax 1754
Year Built 1980
Interior
Flooring Carpet, Ceramic Tile, Vinyl
Appliances Free-Standing Range, Disposal, Dishwasher, Refrigerator, Microwave, W/D Hookup
Exterior
Roof Composition
Construction Wood Frame, Stucco
Parking Paved, Assigned, Add'l Parking Avail, Garage Door Opener, Attached, 1 Space/Unit
# of Covered Spaces 4
Amenities / Utilities
Water Source See Remarks, Individual Meter, Master Meter, City Franchise
Sewer/Septic Public Sewer
Location
Subdivision SUN GARDENS REPLAT
Community Features Pool
Elementary School Edison Elementary School
Elementary School District Mesa Unified District
Middle School Kino Junior High School
High School District Mesa Unified District
High School Westwood High School
APN 137-09-324
Zoning RM-4
Directions West On Brown Rd, North At Third Turn Into Complex, 4-plex Is Located In The Northwest Corner Of The Complex - Building 4, Units 41-44.
Multifamily Details
Total # of Units 4
Expense: Operating 13206
Financial Data Source Owner
Expense: Maintenance 1200
Vacancy Allowance 0.01
Expense: Insurance 1750
Net Operating Income 63714
Gross Income 76150.8
Expense: Water/Sewer 2800
Gross Scheduled Income 76920
We are not permitted to show value estimates for this property.
  • Nov 2024
    mls logo MLS # 6728850
  • Nov 26, 2024 Sold
    $900,000
  • Oct 18, 2024 Pending
  • Jul 9, 2024 Listed
    $950,000 (+859.6%)
  • Nov 2024
    Public Records
  • Nov 25, 2024 Sold
    $900,000 (-5.3%)
  • Apr 2011
    Public Records
  • Apr 5, 2011 Sold
    $99,000 (-78.0%)
  • Oct 2005
    Public Records
  • Oct 11, 2005 Sold
    $450,000
  • 860 E Brown Rd #41
    $900K
  • East Mesa
    $499K
  • 85203
    $524K +16% y/y
  • Mesa
    $494K 0% y/y
No chart available
Statistics calculated by Movoto

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Source: GreatSchools.org © 2026. All rights reserved.

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  • 860 E Brown Rd #41
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