242 South Olive

Mesa, AZ 85204

$360,000
Price
4
Beds
2
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

A diamond in the rough! This duplex has so much potential. Located in the DOWNTOWN OPPORTUNITY ZONE where they just built an ASU campus PLUS a bunch of new restaurants, micro-breweries, shopping, and now the light rail. There is a TON of growth happening in this area making this the PERFECT investment property or a great opportunity to live in one unit while earning passive income from the other. Both units are 2 bedrooms, 1 bathroom and are separately metered. They could use some TLC but don't be...

Property Details for 242 South Olive

Subdivision
TEMPLE VILLA

Location

Listing Courtesy of Mojica & Associates Real Estate

Property Details for 242 South Olive

StatusActive
MLS #6247684
Days on Market58
Taxes$855 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMultiple Dwellings
Year Built1957
Lot Size-
CountyMaricopa County

Listing Agent

Sarah J Crites

Sarah J Crites

Mojica & Associates Real Estate

sarahjunerealtor@gmail.com

Contact Agent(s)

Location

Listing Courtesy of Mojica & Associates Real Estate

Building Information for 242 South Olive

Stories-Residences-Year Built1957Building Size-Lot Size-

Payment Calculator

$1,278 per month

30 year fixed, 2.95% Interest

Principal and Interest

$1,206

Property Taxes

$71

HOA Dues

$0

Property Information for 242 South Olive

Summary
    Location and General Information
  • Cross Street: Broadway and Horne
  • Census Tract: 421501
  • Map Code/Grid: R39
  • Roads/Streets: Asphalt
    School Information
  • Elementary School Dist #: 004 - Mesa Unified District
  • High School Dist #: 004 - Mesa Unified District
    Owner
  • Owner Pays: Sewer, Water, Trash Collection
  • Ownership: Fee Simple
    Parking
  • Covered Parking Spcs: 2
  • Parking: Carport
  • Total Parking Spaces: 3
  • Uncovered Parking Spaces: 1
    Taxes and HOA Information
  • Tax Municipality: Mesa
  • Tax Year: 2020
Property
    Lot Information
  • Lot Size Dimensions: 121 x 59
  • Environmental: None
  • Zoning: Multi Family
    Property and Assessments
  • Assessor Number: 138-29-014
  • Assessor's Book #: 138
  • Assessor's Map #: 29
  • Assessor's Parcel #: 14
  • Additional Parcels: No
  • Legal: LOT 14 BLOCK 1 TEMPLE VILLA MCR 003514
  • Legal Description (Abbrev): LOT 14 BLOCK 1 TEMPLE VILLA MCR 003514
  • Legal Info: Block: 1
  • Legal Info: Lot Number: 14
  • Legal Info: Range: 5E
  • Legal Info: Section: 23
  • Legal Info: Township: 1N
  • Project Type: Duplex
  • Property Group ID: 19990816212116581394000000
    Utilities
  • Electric: City Electric
  • Gas: City Gas
  • Sewer: Sewer - Public
  • Water: City Franchise
Interior and Exterior Features
    Room Information
  • Efficiency Units: # of Efficiency Units: 0
  • Efficiency Units: Average SqFt: 0.0
  • Efficiency Units: # Baths: 0
  • Efficiency Units: Avg Rent: $.00
    Exterior Features
  • # of Buildings: 1
  • Const - Finish: Painted
  • Construction: Block
  • Roofing: Comp Shingle
    Interior Features
  • Floors: Vinyl
  • Cooling: Central A/C, Electric
  • Heating: Electric
  • Appliances Included: F/S Oven/Range, W/D Hookup
Multi Family
    1 Bedroom Unit Information
  • # of Units: 0
  • # of Bathrooms: 0
  • Average Rent: $.00
  • Average Sq. Ft: 0
    2 Bedroom Unit Information
  • # of Units: 2
  • # of Bathrooms: 1
  • Average Rent: $750.00
  • Average Sq. Ft: 800
    3 Bedroom Unit Information
  • # of Units: 0
  • # of Bathrooms: 0
  • Average Rent: $.00
  • Average Sq. Ft: 0
    4 Bedroom Unit Information
  • # of Units: 0
  • # of Bathrooms: 0
  • Average Rent: $.00
  • Average Sq. Ft: 0
    Income & Expenses Information
  • Adjusted Gross Income: $18,000.00
  • Annual Electric Expense: $.00
  • Annual Gas Expense: $.00
  • Annual Ins Expense: $727.00
  • Annual Land Lease Expense: $.00
  • Annual Landscape Expenses: $700.00
  • Annual Legal & Accounting: $.00
  • Annual Maintenence Expense: $3,500.00
  • Annual Management Expense: $.00
  • Annual Other Expense: $.00
  • Annual Owner Association Fee: $.00
  • Annual PAD Fee: $.00
  • Annual Replacement Reserves: $.00
  • Annual Trash Expense: $.00
  • Annual Water/Sewer Expense: $2,280.00
  • Gross Annual Sch Income: $18,000.00
  • Net Operating Income: $10,181.00
  • Operating Expense: $8,062.32
  • Other Income: $.00
  • Owner Association: No
  • Vacancy Allowance: $.00
    Multi-Family Information
  • Community Amenities: No Pool
  • Source of Financial Data: Provided by Owner
  • Total # of Units: 2
Agent
    Payment and Rate Information
  • Down Payment: $.00
  • Cap Rate: 2.83%
  • Monthly Payments: $.00
  • Down Payment %: .00%
  • Equity: $360,000.00
  • Total Owed: $.00
Rental
    Rental Information
  • Tenant Pays: Electric

Property History for 242 South Olive

DateEvent & SourcePriceAppreciation
Jun 7, 2021

Listed (Active)

ARMLS #6247684

$360,000
Jan 30, 2018

Sold

ARMLS #5690295

$160,000
Dec 29, 2017

Pending

ARMLS #5690295

DateEvent & SourcePrice
06/07/2021

Listed (Active)

ARMLS #6247684

$360,000
01/30/2018

Sold

ARMLS #5690295

$160,000
12/29/2017

Pending

ARMLS #5690295

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 242 South Olive


SchoolTypeGradesDistanceRating
New Horizon School for the Performing ArtsCharterK-60.2 mi
NR
Evit - Mesa Junior High SchoolPublicPK-K0.3 mi
NR
Lowell Elementary SchoolPublicPK-60.4 mi
3
Franklin West Elementary SchoolPublicK-60.7 mi
8

New Horizon School for the Performing Arts

K-6, 0.2 mi, Charter

NR

Evit - Mesa Junior High School

PK-K, 0.3 mi, Public

NR

Lowell Elementary School

PK-6, 0.4 mi, Public

3

Franklin West Elementary School

K-6, 0.7 mi, Public

8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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242 South Olive is a multi-family home for sale in Mesa, AZ 85204. This property was listed for sale on June 7, 2021 by Mojica & Associates Real Estate at $360,000. It has been on the market for a total of 58 days and was last sold on January 30, 2018. This listing's school district is Mesa Unified School District. Nearby schools include New Horizon School for the Performing Arts, Evit - Mesa Junior High School and Lowell Elementary School. 242 South Olive is a 4-bed, 2-bath, multi-family home built in 1957.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Mojica & Associates Real Estate

The data relating to real estate listings on this website comes in part from the Internet Data Exchange (IDX) program of Multiple Listing Service of Southern Arizona and Arizona Regional Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listings provided by brokerages other than Compass are identified with the MLSSAZ IDX Logo and ARMLS logo. All Information Is Deemed Reliable But Is Not Guaranteed Accurate. Listing information Copyright 2021 MLS of Southern Arizona and Arizona Regional Multiple Listing Service, Inc. All Rights Reserved.