546 N DREW Street Active Save Request In-Person Tour Request Virtual Tour
Mesa,AZ 85201
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Subdivision Bowen Tract
MLS Listing ID 6837131
Maintenance Fees $220
Originating Board Arizona Regional Multiple Listing Service (ARMLS)
Year Built 1957
Annual Tax Amount $745
Tax Year 2024
Lot Dimensions 90*70
Property Description
New roof installed in Feb'25 with lifetime shingles and 5 year warranty. New AC & water heaters, all tile flooring. Fully occupied with long term tenants, cash flow positive, current CAP rate at 6.9%, future pro forma to be 7.5%. Rare find these days for above 6.5% CAP properties. This duplex features 2 units, one is 1 bedroom, 1 bath. the other is 3 bedrooms, 2 baths. This duplex is poised for continuous appreciation in a growing Mesa area, centrally located near 202, 101 and many nearby attractions. Long term tenants in place with potential to further raise rents to market rents. See P&L details in documents section. Do not disturb tenants, showing by appointments only. The selling agent is a partial owner of the property
Location
State AZ
County Maricopa
Community Bowen Tract
Zoning R-2
Interior
Heating ENERGY STAR Qualified Equipment,Central,Electric
Cooling Central Air,Ceiling Fan(s),ENERGY STAR Qualified Equipment,Electric
Flooring Ceramic Tile,Vinyl
Appliance Dishwasher,Free-Standing Electric Oven,W/D Hookup
Exterior
Parking Features Paved,Free,Add'l Parking Avail,>1 Space Per Unit
Community Features No Pool
Roof Type Other,See Remarks
Total Parking Spaces 8
Building
Sewer Public Sewer
Water City Franchise
New Construction No
Schools
School District Mesa Unified District
Others
Senior Community No
Tax ID 137-29-008
Acceptable Financing 1031 Exchange
Listing Terms 1031 Exchange