1500 E DANA Avenue, Mesa, AZ 85204 (MLS# 6197179)

1500 E DANA Avenue, Mesa, AZ 85204

$1,120,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $1,120,000 Last Modified: 5/04/2026

Overview

Description

Welcome to Seven on Dana. Situated two blocks south of the Main Street development corridor, this property is within walking distance to the light rail. Included in the listing are 2 parcels totaling 1.06 acres; the first parcel is a 7-unit complex (.634 acres) featuring 2 triplexes and a 2-bedroom house. Triplex mix includes one newly updated 3-bed/2 bath, three 2-bed units, a large 1-bed unit, and a studio. The City of Mesa may allow the option to develop and build up to 8 additional units on the second parcel of .43 acres. ProForma Cap Rate is estimated at 5.87%, based on market rents. Buyer to verify all MLS information, as facts and figures are approximate. Do Not Disturb Tenants. Drive-by only.

Listing Details MLS# 6197179

Location, Tax & Legal

Map Code/Grid: R39
House Number: 1500
Compass: E
Street Name: DANA
St Suffix: Avenue
City/Town Code: Mesa
State/Province: AZ
Zip Code: 85204
Zip4: 1272
Country: US
County Code: Maricopa
Subdivision: LOS RANCHITOS
Assessor Number: 138-11-036
Tax Year: 2020
Assessor's Map #: 11
Assessor's Parcel #: 36
Add'l Parcels: Yes
Tax Municipality: Mesa
Census Tract: 421602
Taxes: 1895
Legal: LOS RANCHITOS TR 1 PT ARB LOT 8 BEG 183.50' E OF W LN ON S LN JOHNSON DR SD TR 1 TH E 88.5' TH S 467.50' TH W 88.5' TH
Marketing Name: Seven on Dana

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 148x314
Year Built: 1968
Uncvrd Parking Spcs: 14
Total # of Units: 7
# of Buildings: 2
Zoning: RM-2
Elementary School District: Mesa Unified District
High School District: Mesa Unified District
Elementary School: Longfellow Elementary School
Jr. High School: Poston Junior High School
High School: Mesa High School

Remarks Misc

Cross Street: Stapley and Main
Directions: From the intersection of Stapley Dr & Main St, head south on Stapley for one block, then turn left onto Dana St, heading East for about half a mile. Property is on your left.

Status Change Info

Off Market Date: 2021-04-13
Under Contract Date: 2021-03-15
Close of Escrow Date: 2021-04-20

Legal Info

Township: 1N
Range: 5E
Section: 24
Lot Number: 8

More Information

Income Expenses

Gross Annual Sch Inc: 94800
Net Operating Income: 65698

Efficiency Units

# Efficiency Units: Yes
Avg Rent: 800
Avg SqFt: 400
# Baths: Yes

1 Bedroom Units

# 1 Bedroom Units: Yes
Avg Rent: 1000
Avg SqFt: 700
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: 4
Avg Rent: 1150
Avg SqFt: 800
# Baths: Yes

3 Bedrooms Units

# 3 Bedroom Units: Yes
Avg Rent: 1500
Avg SqFt: 1100
# Baths: 2

Sold Info

Loan Type: Other
Payment Type: Other
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Buyer Concession to Seller: 0
Seller Concession to Buyer: 0

Project Type

5 - 12 Units: Yes

Other Type

House + Rental Units: Yes

Construction

Block: Yes
Brick: Yes

Const - Finish

Painted: Yes

Roofing

Composition: Yes

Floors

Ceramic Tile: Yes

Sale Includes

Land & Building: Yes

Income & Expenses

Annual Ins Exp: 3620
Annual Landscape Exp: 1200
Annual Maint Exp: 6000
Annual Mgmt Exp: 4503
Annual Trash Exp: 2500
Annual Wtr/Swr Exp: 4800
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 24518
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 90060

Pmt & Rate Info

Cap Rate: 5.87
Equity: 1120000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0

Showing Notification Methods

Phone Call: Yes

Lockbox Type

None: Yes

Community Features

No Pool: Yes

Heating

Electric: Yes

Cooling

Ceiling Fan(s): Yes
Electric: Yes

Exterior Amenities

Green Landscaping: Yes

Interior Features

Fire/Smoke Alarm(s): Yes
Mini Blinds: Yes

Tenant Pays

Electricity: Yes
Cable TV: Yes

Appliances Included

Refrigerator: Yes
Free-Standing Range: Yes
W/D Hookup: Yes

Road Surface Type

Gravel: Yes

Source of Fincl Data

Owner: Yes
Projected Proforma: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

On Street: Yes
>1 Space Per Unit: Yes

Electric

SRP: Yes

Gas

None: Yes

Owner Pays

Water: Yes
Sewer: Yes
Trash Collection: Yes
Landscaping: Yes

New Financing

Conventional: Yes
1031 Exchange: Yes
Other (See Remarks): Yes

Special

Owner/Agent: Yes

Existing 1st Loan

Treat as Free&Clear: Yes

Reports/Disclosures

Seller Prop Disc Stm: Yes

Environmental

None: Yes

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: 5 - 12 Units Other Type: House + Rental Units Construction: Block; Brick Const - Finish: Painted Roofing: Composition Floors: Ceramic Tile Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Green Landscaping Interior Features: Fire/Smoke Alarm(s); Mini Blinds Appliances Included: Free-Standing Range; Refrigerator; W/D Hookup Cooling: Ceiling Fan(s); Electric Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: None Parking Features: On Street; >1 Space Per Unit Road Surface Type: Gravel Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity; Cable TV Source of Fincl Data: Owner; Projected Proforma Special: Owner/Agent Showing Notification Methods: Phone Call Lockbox Type: None Existing 1st Loan: Treat as Free&Clear New Financing: Conventional; 1031 Exchange; Other (See Remarks) Environmental: None

Listing Office: Grace CRE

Last Updated: May - 04 - 2026