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Ryan Ney

My Home Group Real Estate

ryan@realscottsdalehomes.com +1(480) 566-9249

$399,900

Est. payment - /mo

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Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Subdivision Mesa

MLS Listing ID 7058538

Year Built 1960

Annual Tax Amount $1,406

Tax Year 2025

Lot Dimensions Approx. 152.35ft x 49.95ft

Source Arizona Regional Multiple Listing Service (ARMLS)

Property Description

This rare to market stable, seven unit apartment building is walking distance to the light rail Near Downtown Mesa and consists of seven 1 bedroom and 1 bathroom units. Most of the tenants have been in their units for many years, and some have even lived there for decades. The photos we have are from 2024 when the last unit turned over. All units currently rented at $850 or more per month except one, so there is a little room to increase rents as the units turn over. Listed at a 6.1 CAP Rate generating just under $24,380 NOI in the last twelve months with very stable tenant mix, increased income opportunity, and long term value investment near Downtown Mesa.

Location

State AZ

County Maricopa

Community Mesa

Area Maricopa

Zoning R-TC, DR-3

Direction From Mesa & Main, head South to 1st Ave and turn Right/West onto 1st Ave. Pomeroy is your first street on the left, and the property is the building on the SW Corner of 1st Ave and Pomeroy.

Interior

Heating Natural Gas

Cooling Electric, 2 or More Units

Flooring Carpet

Appliance Free-Standing Range, Disposal, Refrigerator, Free-Standing Gas Oven, Free-Standing Electric Oven

Exterior

Parking Features Off Street, Paved, 1 Space/Unit, On Street

Community Features No Pool

Roof Type Composition

Private Pool No

Building

Sewer Public Sewer

Water Master Meter, City Franchise

New Construction No

Others

Senior Community No

Tax ID 138-66-021

Acceptable Financing No Carry, Conventional

Disclosures None

Listing Terms No Carry, Conventional

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Listed by eXp Realty • Shane M. Cook

NEARBY SCHOOL & BUSINESS

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Ryan Ney

+1(480) 566-9249

Realtor® ~ Team Leader | SASA548713000

Realtor® ~ Team Leader SASA548713000

Scottsdale Speciality Searches

102 S POMEROY Street Mesa, AZ 85210

Ryan Ney

Key Details

Location

Interior

Exterior

Building

Others

NEARBY SCHOOL & BUSINESS

GET MORE INFORMATION