1146 E 2nd Street, Mesa, AZ 85203
- $825,000
- Sold Price
- $825,000
- List Price
- $825,000
- Closing Date
- Oct 23, 2025
- Days on Market
- 13
- Status
- CLOSED
- MLS#
- 6922706
- City
- Mesa
- Subdivision
- Suburban Gardens 2
- Year Built
- 1973
Property Description
TURNKEY, Cash-Flowing, Well Maintained, Fully Leased & Remodeled 4-plex in Prime Mesa Location near Downtown & only 3 blocks from Stapley/Main Light Rail Station. Each large Fully Remodeled Unit has 2-bedrooms, 2-baths & 1,004 sq. ft. Upgrades include New Luxury Vinyl Plank Flooring in the Living areas and carpeting in the bedrooms. Also New Shaker Cabinets, Appliances, New Interior Trim, Doors & Interior Paint. Complete Roof Replacement in 2021, Newer Entry Deck Surfacing for 2nd floor Units C & D, New Composition Mansard Roof Walls, and New Masonry Block Privacy Fencing. First floor units have Private Yards & Covered Patios. HVAC Units and Water Heaters are Newer With over $150k Invested in improvements. No HOA. **Please Do Not Disturb Tenants - Drive By Only!** Each Unit has One Covered Parking Space plus a 2nd uncovered Space and a Storage Unit. Units are Currently Rented at Market Rate with Strong Tenant Occupancy. Upstairs Units Lease for $1,400/month & Downstairs Units for $1,495/month, Producing a Gross Monthly Income of $5,790 ($69,480 Annually) plus laundry room income and a 7.14 Cap Rate. The On-site Laundry is not only convenient but produces additional revenue annually of $1280. Truly an Excellent Investment with Updated Units, Stable Rents, and a Prime Location near Mesa's Growing Downtown Corridor. and Great for Seasoned or New investors **PLEASE DO NOT DISTURB OCCUPANTS**
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Additional Information
- Elementary School
- Edison Elementary School
- High School
- Westwood High School
- Middle School
- Kino Junior High School
- Community Features
- No Pool
- Construction
- Block, Painted, Siding
- Cooling
- Electric
- Electric
- SRP
- Heating
- Electric
- New Financing
- VA Loan, FHA, Conventional, Cash
- Parking Features
- >1 Space Per Unit, See Remarks
- Roofing
- Built-Up, Foam
- Subdivision
- Suburban Gardens 2
- Taxes
- $1,542
- Tax Year
- 2024
- Tenant Pays
- Electricity, Cable TV
- Units
- 4
- Water
- City Franchise
- Zoning
- MULTI
Courtesy of Better Homes & Gardens Real Estate SJ Fowler. 480-649-3536 Selling Office: HomeSmart.
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