$950,000
Mesa, AZ 85204
MLS# 4622625
Status: Closed
1 / 8
Property Description
BULK SALE OF 21 REMAINING UNITS AT PARAGON PLACE CONDOMINIUMS NEAR STAPLEY/SOUTHERN. ALL UNITS RENTED ON LONG TERM LEASE AGREEMENTS WITH SECURITY DEPOSITS IN PLACE. 20X 2/2, 1X 3/2; ALL FULLY REMODELED AND UPDATED WITH NEW PAINT, FLOORINGS, DOORS, FIXTURES, CABINETS, SS APPLIANCES, ETC. COMMUNITY AMENITIES INCLUDE HEATED POOL, CLUBHOUSE, FITNESS. COMMUNITY IS FHA APPROVED. HEALTHY HOA IS PROF MANAGED WITH A RESERVE ACCOUNT. GENERATES APPX 9% NOI.
Details
Maps
Documents
Contract Info
Ownership: Fee Simple
Current Price: $950,000
Sold Price: $950,000
Status: Closed
List Date: 2011-07-26
Location, Tax & Legal
Unit #: 65
Assessor's Map #: 15
Legal Description (Abbrev): VILLAS AT SUNLAND CONDOMINIUMS
Assessor's Parcel #: 126
Add'l Parcels: No
Tax Municipality: Mesa
Census Tract: 421901
Taxes: 721
Legal: VILLAS AT SUNLAND CONDOMINIUMS MCR 821-49 UNIT 65 (PLEASE NOTE:
Marketing Name: PARAGON PLACE CONDOS
Map Code/Grid: R39
House Number: 1050
Compass: S
Street Name: STAPLEY
St Suffix: Drive
City/Town Code: Mesa
State/Province: AZ
Zip Code: 85204
Zip4: 5044
County Code: Maricopa
Subdivision: PARAGON PLACE CONDOMINIUMS
Assessor Number: 139-15-126
Tax Year: 2010
General Property Description
# of Buildings: 5
Uncvrd Parking Spcs: 20
Lot Size Dimensions: see comments
Total # of Units: 21
Elementary School District: Mesa Unified District
High School District: Mesa Unified District
Elementary School: Holmes Elementary School
High School: Mesa High School
Year Built: 1979
Zoning: RES
Legal Info
Range: 5E
Section: 26
Township: 1N
Lot Number: 65
Project Type
13 - 24 Units: 1
Construction
Block: 1
Const - Finish
Painted: 1
Stucco: 1
Roofing
Built-Up: 1
Foam: 1
Floors
Ceramic Tile: 1
Carpet: 1
Sale Includes
Building(s) Only: 1
Income & Expenses
Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 400
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 12600
Annual Mgmt Exp: 16123
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 0
Owner Association: Yes
Annual Ownr Asoc Fee: 45360
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Other Income: 3023
Vacancy Allowance: 10000
Adjusted Gross Inc: 2045425437
Pmt & Rate Info
Cap Rate: 8.77
Down Payment: 0
Equity: 1200000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Community Features
Pool: 1
Heated Pool(s): 1
Clubhouse: 1
Exercise Room: 1
Heating
Electric: 1
Cooling
Electric: 1
Exterior Amenities
Fenced: 1
Cable TV Available: 1
Patio/Balcony: 1
Separate Storage: 1
Tenant Pays
Electricity: 1
Appliances Included
Built-In Range: 1
Refrigerator: 1
Disposal: 1
Microwave: 1
W/D Hookup: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Master Meter: 1
Sewer
Sewer - Public: 1
Parking Features
Carport: 1
>1 Space Per Unit: 1
Assigned: 1
Electric
SRP: 1
Gas
None: 1
Owner Pays
Other: 1
See Remarks: 1
New Financing
No Carry: 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Reports/Disclosures
Other (See Remarks): 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Contact Info
List Agent Home Phn: 480-254-6444
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 20
Avg Rent: 795
Avg SqFt: 1007
# Baths: 20
3 Bedrooms Units
# 3 Bedroom Units: 1
Avg Rent: 895
Avg SqFt: 1107
# Baths: 20
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Cash
Closing Cost Split: Normal - N
Payment Type: Other
Buyer Concession to Seller: 0
Buyer Concession $/%: %
Seller Concession to Buyer: 0
Seller Concession $/%: %
Remarks Misc
Cross Street: US 60 & Stapley Dr.
Directions: US 60 & Stapley Dr. Directions: US 60 TO STAPLEY EXIT (EXIT 181), GO LEFT (NORTH) ON STAPLEY (PASS SOUTHERN ONE BLK) TO COMMUNITY ON WEST SIDE OF STREET
Geo Lat: 33.39528
Geo Lon: -111.806329
Status Change Info
Off Market Date: 2011-10-29
Under Contract Date: 2011-10-29
Close of Escrow Date: 2011-11-30
Sold Price: $950,000
Income Expenses
Gross Annual Sch Inc: 201540
Net Operating Income: 105241
Property Features
Project Type: 13 - 24 Units
Construction: Block
Const - Finish: Painted; Stucco
Roofing: Built-Up; Foam
Floors: Ceramic Tile; Carpet
Sale Includes: Building(s) Only
Community Features: Pool; Heated Pool(s); Clubhouse; Exercise Room
Exterior Amenities: Fenced; Cable TV Available; Patio/Balcony; Separate Storage
Appliances Included: Built-In Range; Refrigerator; Disposal; Microwave; W/D Hookup
Cooling: Electric
Water Source: City Franchise; Master Meter
Sewer: Sewer - Public
Electric: SRP
Gas: None
Parking Features: Carport; >1 Space Per Unit; Assigned
Owner Pays: Other; See Remarks
Tenant Pays: Electricity
Source of Fincl Data: Owner
Existing 1st Loan: Treat as Free&Clear
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
PUBLIC REPORT 
Listing Office: RE/MAX Excalibur
Last Updated: November - 07 - 2017
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