KO KO PALMS 2 LOTS 34-76
Property • Multiple Dwellings
Web ID # 7050097
$569,000.00
0 Beds • 0 Baths
Property Features
Arizona Regional Multiple Listing Service (ARMLS)
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!
W to Hall St , then N to property
Dwelling Type: Multiple Dwellings
Subdivision: KO KO PALMS 2 LOTS 34-76
Year Built: 1971, County: US
W to Hall St , then N to property
Listing is courtesy of Limitless Real Estate
