422 W 6th Street, Mesa, AZ 85201
- $847,500
- 8
- BD
- 4
- BA
- List Price
- $847,500
- Status
- ACTIVE
- Days on Market
- 1
- MLS#
- 7093444
- City
- Mesa
- Bedrooms
- 8
- Bathrooms
- 4
- Year Built
- 1986
Property Description
MUST SELL SIMULTANEOUSLY WITH 428 W 6TH STREET - CONTIGOUS IDENTICAL 4-PLEX ALSO LISTED. Built in the late 1980s, 6th Street presents investors with an attractive value-add opportunity featuring eight two-bedroom, onebathroom residences in the heart of Mesa. With three units already renovated, the property offers a clear path to continued interior improvements and the potential to capture rental premiums through the renovation of the remaining five residences. Further distinguishing the community are its exceptionally spacious private backyards, an increasingly desirable amenity that enhances resident appeal and differentiates the property from competing multifamily communities. The existing layout also presents an opportunityto create two additional private backyards.
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Additional Information
- Taxes
- $1,445
- Net Operating Income
- $62,762
- Cap Rate
- 7.41
- Units
- 4
- Parking Features
- >1 Space Per Unit
- Construction
- Wood Frame, Stucco, Wood Siding
- Roofing
- Composition
- Cooling
- Central Air, Electric, Varies by Unit
- Heating
- Electric, Central
- Zoning
- RM-3
- Community Features
- No Pool
- Electric
- SRP
- Water
- City Franchise
- Sewer
- Public Sewer
- Tenant Pays
- Electricity, Cable TV
- New Financing
- VA Loan, FHA, Conventional, 1031 Exchange, No Carry, Cash
Courtesy of Marcus & Millichap. 602-687-6700
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