152 N 56TH Street OFC, Mesa, AZ 85205 (MLS# 6886777)

Description

1.79-acre, 62,000 sq ft R5-zoned investment opportunity in a thriving multi-family market! Formerly Copper Heights Assisted Living, this vacant 2-story property with basement is ideal for multi-family housing, a hotel, or other creative uses (subject to local zoning). 78 units: 30 one-bedroom and 48 studios, each with private bathrooms (tub/shower combo), kitchenette plumbing, and P-tech AC units. The main floor features an office & two spacious recreational/dining areas, perfect for community living. The basement includes a commercial-grade kitchen with a walk-in cooler and freezer. Energy-efficient with a newly repaired roof and solar panels, reducing utility costs. Appraised at $10.74M in ''as is'' condition. Seller willing to carry with $3.5mm down. 5 year term, interest only. 6% rate

Contract Info

Ownership: Fee Simple Current Price: $9,977,000 List Price: $9,977,000 Status: Active List Date: 2025-06-30

Location, Tax & Legal

Unit #: OFC Assessor's Map #: 77 Legal Description (Abbrev): N 270F OF E 329.20F OF N2 S2 NW4 EX E 40F RD Assessor's Parcel #: 59 Assessor Parcel Ltr: E Add'l Parcels: No Tax Municipality: Maricopa - COUNTY Census Tract: 420214 Taxes: 19705 Legal: N 270F OF E 329.20F OF N2 S2 NW4 EX E 40F RD House Number: 152 Compass: N Street Name: 56TH St Suffix: Street City/Town Code: Mesa State/Province: AZ Zip Code: 85205 Zip4: 8721 County Code: Maricopa Assessor Number: 141-77-059-E Tax Year: 2024

General Property Description

Ttl Apx SqFt Bldg: 61979 # of Buildings: 1 Uncvrd Parking Spcs: 22 Flood Zone: No Year Built: 1974 Zoning: R-5

Currently Not Used

Sold Price Per SqFt: 160.97

Legal Info

Range: 6E Section: 23 Township: 1N Lot Number: -

Construction

Wood Frame: 1 Other: 1

Roofing

Other: 1

Floors

Other: 1

Income & Expenses

Owner Association: No Annual Ownr Asoc Fee: 0 Operating Exp: 19705 Other Income: 0 Vacancy Allowance: 0 Adjusted Gross Inc: 0

Building Type

Commercial: 1 Other (See Remarks): 1

Business Type

Mixed: 1 Service Business: 1 Restaurant: 1 Medical: 1 Other: 1 See Remarks: 1

Pmt & Rate Info

Equity: 9977000 Total Owed: 0

Showing Notification Methods

Showing Service: No Showing Service Used Text: 1 Phone Call: 1

Lockbox Type

Combo: 1

Ceiling Height

8.1 Feet to 10 Feet: 1

Heating

Solar: 1 Other: 1 See Remarks: 1

Cooling

Other: 1 See Remarks: 1

Interior Features

Security Light(s): 1 Phone System: 1 Public Restrooms: 1 Other (See Remarks): 1

Loading Facilities

Other (See Remarks): 1

Exterior

Corner Lot: 1 Sprinkler System-Ground: 1 Landscaping: 1 Security Light(s): 1

Source of Fincl Data

Other (See Remarks): 1

Fencing

Other: 1 See Remarks: 1

Water Source

City Franchise: 1

Building Features

Freight Elevator(s): 1 Public Elevator(s): 1 Basement: 1 Conference Room: 1 Exercise Room: 1 Reception Room: 1 Cafeteria: 1 Kitchen: 1 Showers - Office: 1 Display Window(s): 1

Sewer

Sewer - Public: 1

Parking Features

Private: 1 Paved: 1 Other: 1

Electric

SRP: 1 Solar: 1

Gas

SW Gas: 1 Master Meter: 1 High Pressure: 1

New Financing

Owner May Carry: 1

Reports/Disclosures

None: 1

Environmental

None: 1

Remarks Misc

Cross Street: Boston & 56th St Geo Lat: 33.418898 Geo Lon: -111.711098

Property Features

Building Type: Commercial; Other (See Remarks) Business Type: Mixed; Service Business; Restaurant; Medical; Other; See Remarks Construction: Wood Frame; Other Roofing: Other Floors: Other Ceiling Height: 8.1 Feet to 10 Feet Heating: Solar; Other; See Remarks Cooling: Other; See Remarks Loading Facilities: Other (See Remarks) Interior Features: Security Light(s); Phone System; Public Restrooms; Other (See Remarks) Exterior: Corner Lot; Sprinkler System-Ground; Landscaping; Security Light(s) Fencing: Other; See Remarks Building Features: Freight Elevator(s); Public Elevator(s); Basement; Conference Room; Exercise Room; Reception Room; Cafeteria; Kitchen; Showers - Office; Display Window(s) Parking Features: Private; Paved; Other Electric: SRP; Solar Gas: SW Gas; Master Meter; High Pressure Water Source: City Franchise Sewer: Sewer - Public New Financing: Owner May Carry Showing Notification Methods: Text; Phone Call Lockbox Type: Combo Source of Fincl Data: Other (See Remarks) Environmental: None