536 N Hall --, Mesa, AZ 85203
- $569,000
- List Price
- $569,000
- Days on Market
- 23
- Status
- ACTIVE
- MLS#
- 7050097
- City
- Mesa
- Subdivision
- Ko Ko Palms 2 Lots 34-76
- Year Built
- 1971
Property Description
Turn-Key Investment opportunity in the heart of Mesa! This well-maintained 3-Plex sits in the established Ko Ko Palms neighborhood, built in 1971 and cash-flowing for decades, the kind of long-held, low-turnover asset that's hard to find on the market. Two of the three units carry long-term tenants who've called this property home for over a decade, and the third unit is now vacant, giving a new owner the rare chance to step in and set a fresh, market-rate lease from day one. All three units are 2 bedroom, 1 bath with separate meters for electricity, gas, and trash. Tenants cover their own utilities, keeping operating costs lean for ownership. Unit A (the largest of the three) is home to a 14-year tenant at $1,200/mo, with two covered parking spots side by side in the rear, a private front yard and a large storage unit with washer/dryer hookups. Unit B has been home to a 10-year tenant at $1,100/mo, with one covered parking spot in the rear and two storage units, one with washer/dryer hookups. Unit C is now vacant and move-in ready. Covered parking in the rear ,two storage units, one with washer/dryer hookups, positioned for a new owner to bring in a tenant at today's market rent and boost the property's overall return right out of the gate. Ownership responsibilities are refreshingly simple: landlord covers water only (approx. $150/mo) and a monthly landscaper ($100/mo). Everything else is on the tenants. With two proven, long-term income streams already in place and one unit primed for upside, this is a rare combination of stability and immediate value-add potential in a proven Mesa location. Don't miss it!
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Additional Information
- Community Features
- No Pool
- Construction
- Block, Painted
- Cooling
- Central Air
- Electric
- SRP
- Heating
- Central
- New Financing
- Conventional, Cash
- Parking Features
- 1 Space/Unit, On Street
- Roofing
- Composition
- Subdivision
- Ko Ko Palms 2 Lots 34-76
- Taxes
- $1,301
- Tax Year
- 2025
- Tenant Pays
- Electricity, Cable TV
- Units
- 3
- Water
- City Franchise
- Zoning
- M-H
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Listing courtesy of Limitless Real Estate.
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