$680,000
Mesa, AZ 85205
MLS# 6905416
Status: Closed
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Property Description
Four on Avalon, a well-maintained single-level, garden-style multifamily asset located in the thriving Mesa submarket. Built in 1984 and zoned R-4, the property consists of four large 2-bedroom / 1-bath units (approximately 864 SF each), each featuring in-unit washer/dryer, refrigerator & dishwasher! Private yards, and central air conditioning—highly desirable amenities that enhance tenant retention and rental demand. Currently operating at 100% occupancy with rents well below market, the asset offers substantial value-add potential through rent optimization (market achievable: $1,250-$1,350 per unit) and optional repositioning for higher and better use. The property's single-story design contributes to lower operating costs, reduced maintenance, and minimal turnover, (continued)
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $680,000
Sold Price: $680,000
Status: Closed
List Date: 2025-08-11
Location, Tax & Legal
Unit #: 1-4
Assessor's Map #: 60
Legal Description (Abbrev): GRANITE REEF VISTA 1
Assessor's Parcel #: 14
Add'l Parcels: No
Tax Municipality: Mesa
Census Tract: 420203
Taxes: 1135
Legal: GRANITE REEF VISTA UNIT NO 1
Marketing Name: Four on Avalon
House Number: 6325
Compass: E
Street Name: AVALON
St Suffix: Street
City/Town Code: Mesa
State/Province: AZ
Zip Code: 85205
Zip4: 8944
County Code: Maricopa
Subdivision: GRANITE REEF VISTA UNIT NO 1
Assessor Number: 141-60-014
Tax Year: 2024
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 8
Lot Size Dimensions: 60x150
Flood Zone: No
Total # of Units: 4
Elementary School District: Mesa Unified District
High School District: Mesa Unified District
Elementary School: Salk Elementary School
Jr. High School: Fremont Junior High School
High School: Red Mountain High School
Year Built: 1984
Zoning: C4
Legal Info
Range: 6E
Section: 24
Township: 1N
Lot Number: 14
Project Type
Four Plex: 1
Construction
Wood Frame: 1
Const - Finish
Painted: 1
Stucco: 1
Roofing
Composition: 1
Floors
Ceramic Tile: 1
Sale Includes
Land & Building: 1
Laundry Equipment: 1
Income & Expenses
Annual Ins Exp: 1850
Annual Landscape Exp: 135
Annual Maint Exp: 3577
Annual Mgmt Exp: 4437
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 3232
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Other Expense: 825
Operating Exp: 15191
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 44400
Pmt & Rate Info
Cap Rate: 3.77
Equity: 775000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Showing Notification Methods
Showing Service: No Showing Service Used
Text: 1
Email: 1
Phone Call: 1
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Electric: 1
Cooling
Ceiling Fan(s): 1
Central Air: 1
Electric: 1
Exterior Amenities
Desert Landscaping: 1
Partially Fenced: 1
Sidewalk(s): 1
Security Light(s): 1
Interior Features
Unfurnished: 1
Fire/Smoke Alarm(s): 1
Mini Blinds: 1
Tenant Pays
Electricity: 1
Cable TV: 1
Appliances Included
Dishwasher: 1
Refrigerator: 1
Built-In Range: 1
Washer/Dryer: 1
W/D Hookup: 1
Road Access Type
Alley: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
<1 Space Per Unit: 1
Paved: 1
Electric
SRP: 1
Individual Meter: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
New Financing
Cash: 1
VA: 1
Conventional: 1
FHA: 1
Special
Owner/Agent: 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
Seller Prop Disc Stm: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 4
Avg Rent: 925
Avg SqFt: 865
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: VA
Loan Years: 30
Closing Cost Split: Seller Assist - A
Payment Type: Fixed
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 10000
Seller Concession $/%: $
Remarks Misc
Cross Street: Power & Main
Geo Lat: 33.416693
Geo Lon: -111.694565
Status Change Info
Off Market Date: 2025-12-10
Under Contract Date: 2025-11-13
Close of Escrow Date: 2025-12-26
Sold Price: $680,000
Income Expenses
Gross Annual Sch Inc: 44400
Net Operating Income: 29209
Property Features
Project Type: Four Plex
Construction: Wood Frame
Const - Finish: Painted; Stucco
Roofing: Composition
Floors: Ceramic Tile
Sale Includes: Land & Building; Laundry Equipment
Community Features: No Pool
Exterior Amenities: Desert Landscaping; Partially Fenced; Sidewalk(s); Security Light(s)
Interior Features: Unfurnished; Fire/Smoke Alarm(s); Mini Blinds
Appliances Included: Built-In Range; Refrigerator; Dishwasher; Washer/Dryer; W/D Hookup
Cooling: Ceiling Fan(s); Electric; Central Air
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP; Individual Meter
Gas: None
Parking Features: <1 Space Per Unit; Paved
Road Access Type: Alley
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity; Cable TV
Source of Fincl Data: Owner
Special: Owner/Agent
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
Existing 1st Loan Type: Not Applicable
Existing 1st Loan Terms: Not Applicable
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Loan Type: Not Applicable
Existing 2nd Loan Terms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Loan Type: Not Applicable
Existing 3rd Loan Terms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Cash; VA; FHA; Conventional
Environmental: None
Supplements
making it ideal for investors seeking stable, long-term cash flow with future development upside.
Investment Highlights
Unit Mix: Four (4) × 2-Bedroom / 1-Bath units, ±864 SF each
Building Size: ±3,456 SF | Year Built: 1984
Zoning: R-4 - Allows for multifamily density increases
Amenities: In-unit W/D hookups, private yards, central A/C
Occupancy: 100% | Current rents significantly below market
Upside: Potential 20%+ rent growth and redevelopment options
Location Overview
Situated in Mesa, Arizona, one of the fastest-growing cities in the Phoenix Metro, Four on Avalon benefits from a strategic location with strong economic drivers, robust population growth, and an expanding employment base. Residents enjoy proximity to The Hub Grill and Bar, Superstition Springs Center, Mesa Arts Center, and Mesa Historical Museum, as well as outdoor recreation at Red Mountain Park and Usery Mountain Regional Park.
The property offers excellent transportation connectivity with direct access to major freeways and is less than 15 minutes from Phoenix-Mesa Gateway Airport, ensuring ongoing demand and long-term appreciation potential.
All facts and figures are approximate buyer verify information
Listing Office: Grace CRE
Last Updated: December - 27 - 2025
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