702 W Pepper Place, Mesa, AZ 85201

$385,000
List Price
$385,000
Status
UCB (UNDER CONTRACT-BACKUPS)
Price Change
▼ $10,000 1626938914
Days on Market
124
MLS#
6251214
City
Mesa
Year Built
1955

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.

Additional Information

Gross Annual Sch Inc
30200
Adjusted Gross Inc
30200
Taxes
$615
Annual Ins Exp
900
Annual Maint Exp
900
Operating Exp
2415
Net Operating Income
$27,785
Units
2
Project Type
Duplex
Construction
Block, Frame - Wood
Roofing
Comp Shingle
Parking
>1 Space Per Unit, Paved Parking
Cooling
Central A/C
Heating
Natural Gas
Floors
Carpet, Ceramic Tile, Concrete
Exterior Amenities
Desert Landscaping, Fenced
Zoning
[RM-3] Resident
Community Amenities
No Pool
Electric
City Electric
Gas
City Gas
Water
City Franchise
Sewer
Sewer - Public
Tenant Pays
Cable TV, Electric, Gas, Sewer, Trash, Water
New Financing
1031 Exchange, Conventional, FHA, VA
School District
004 - Mesa Unified District

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
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Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Synchronicity Realty.

All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.