Ownership: Fee Simple
Current Price: $3,850,000
Sold Price: $3,850,000
Status: Closed
List Date: 2016-04-04
Assessor's Map #: 24
Assessor's Parcel #: 106
Add'l Parcels: No
Tax Municipality: Mesa
Taxes: 16329
Legal: SAN REMO UNIT 101-124 201-224
Marketing Name: CYPRESS COMMONS APTS
Map Code/Grid: Q38
House Number: 447
Compass: W
Street Name: RIO SALADO
St Suffix: Parkway
City/Town Code: Mesa
State/Province: AZ
Zip Code: 85201
County Code: Maricopa
Subdivision: SAN REMO UNIT 101-124 201-224
Assessor Number: 135-24-106
Tax Year: 2015
# of Buildings: 4
Uncvrd Parking Spcs: 48
Lot Size Dimensions: 2.21 AC
Total # of Units: 48
Elementary School District: Mesa Unified District
High School District: Mesa Unified District
Year Built: 1986
Zoning: RM-3
25 - 50 Units: 1
RV Park: 1
Land & Building: 1
Pool Equipment: 1
Annual Elec Exp: 3806
Annual Gas Exp: 0
Annual Ins Exp: 4585
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 33600
Annual Mgmt Exp: 13195
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 18694
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 12000
Annual Other Expense: 26000
Operating Exp: 128209
Other Income: 37000
Vacancy Allowance: 0.05
Adjusted Gross Inc: 445550
Cap Rate: 7.8
Down Payment: 0
Equity: 3995000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Landscape Water System: 1
Green Landscaping: 1
Desert Landscaping: 1
Fenced: 1
Patio/Balcony: 1
Guard Gate: 1
Electricity: 1
Cable TV: 1
Free-Standing Range: 1
Refrigerator: 1
Dishwasher: 1
Disposal: 1
Washer/Dryer: 1
W/D Hookup: 1
>1 Space Per Unit: 1
Paved: 1
APS: 1
Individual Meter: 1
Water: 1
Sewer: 1
Trash Collection: 1
List Agent Home Phn: 480-767-3001
# 2 Bedroom Units: 48
Avg Rent: 658
Avg SqFt: 817
# Baths: 2
Loan Type: Conventional
Loan Years: 30
Closing Cost Split: Normal - N
Payment Type: Fixed
Buyer Concession to Seller: 1
Buyer Concession $/%: $
Seller Concession to Buyer: 1
Seller Concession $/%: $
Cross Street: W Rio Salado Pkwy & Country Club Dr in Mesa
Geo Lat: 33.429425
Geo Lon: -111.841096
Off Market Date: 2016-06-01
Under Contract Date: 2016-05-31
Close of Escrow Date: 2016-08-10
Sold Price: $3,850,000
Gross Annual Sch Inc: 432000
Net Operating Income: 311631
Project Type: 25 - 50 Units; RV Park
Construction: Wood Frame
Const - Finish: Painted; Stucco
Roofing: Built-Up
Floors: Vinyl; Carpet
Sale Includes: Land & Building; Pool Equipment
Community Features: Pool
Exterior Amenities: Landscape Water System; Green Landscaping; Desert Landscaping; Fenced; Patio/Balcony; Guard Gate
Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Washer/Dryer; W/D Hookup
Cooling: Electric
Water Source: City Franchise
Sewer: Sewer - Public
Electric: APS; Individual Meter
Gas: None
Parking Features: >1 Space Per Unit; Paved
Owner Pays: Water; Trash Collection
Tenant Pays: Electricity; Cable TV
Source of Fincl Data: Projected Proforma
Existing 1st Loan: Conventional
Existing 2nd Loan: Treat as Free&Clear
Existing 3rd Loan: Treat as Free&Clear
Existing Othr Ln Trm: Not Applicable
New Financing: No Carry
Environmental: None
