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Multifamily

Sun Court Villas

5825 E University Dr, Mesa, AZ 85205

Listing Price: $6,550,000

Cap Rate
5.25%
Number of Units
28
Price/Unit
$233,929
Price/Gross SF
$298.00
Gross SF
21,980

Investment Overview

Stationed just west of the Mesa intersection of University Drive and Recker Road is Suncourt Villas (“the property”), a 28-unit multifamily community consisting of seven, individually parceled 4-plexes. The asset’s direct exposure to University Drive provides excellent visibility from one of the staple roadways running through Mesa and Tempe. The property also benefits from two major thoroughfares, US-60 and Loop 202, within a four-mile distance allowing for manageable commute times to major employment corridors around The Valley, including Superstition Corridor, Northwest Gilbert Corridor and Fiesta District, providing access to ±66,200 employees and ±2,400 businesses. Evidenced by the growing influence of these employment corridors, Mesa is transforming into a thriving hotspot for economic development. The city’s strategic planning and pro-business incentives, along with its adjacent positioning to the booming cities of Gilbert and Chandler, have procured immense growth in both the employment and lifestyle opportunities available. Through continuous capital investment, Downtown Mesa has become an attractive destination highlighted by popular dining spots, art galleries, and its hosting of annual events, such as Mesa Music Festival. Built in 1983, Suncourt Villas offers 28 units comprised of 14 one-bedroom units covering 645 square feet and 14 two-bedroom units at 925 square feet. Washers and dryers and private yards have been added to 18 of the units, and 26 of the units have received full interior renovations. Future ownership will have the opportunity to add washer and dryer to the remaining 12 units, as well as upgrade the interior of the two classic units to capitalize on the associated rental premium already proven out at the property.

Investment Highlights

  • Assumable Loan | The current debt on the property is assumable with a fixed rate that is considerably below fair market interest rates available for permanent financing
  • Individually-Parceled Buildings | Consisting of 7 contiguous individually-parceled fourplexes making Sun Court Villas relevant for 30-year fixed, high-leverage residential financing
  • Single-level, low-density community with large floorplans - most of which include individual washer/dryers and large private patios.

Exclusively Listed By

Financing By

Multifamily

Sun Court Villas

Listing Price: $6,550,000

Cap Rate
5.25%
Number of Units
28
Price/Unit
$233,929
Price/Gross SF
$298.00
Gross SF
21,980

Investment Highlights

  • Assumable Loan | The current debt on the property is assumable with a fixed rate that is considerably below fair market interest rates available for permanent financing
  • Individually-Parceled Buildings | Consisting of 7 contiguous individually-parceled fourplexes making Sun Court Villas relevant for 30-year fixed, high-leverage residential financing
  • Single-level, low-density community with large floorplans - most of which include individual washer/dryers and large private patios.

Investment Overview

Stationed just west of the Mesa intersection of University Drive and Recker Road is Suncourt Villas (“the property”), a 28-unit multifamily community consisting of seven, individually parceled 4-plexes. The asset’s direct exposure to University Drive provides excellent visibility from one of the staple roadways running through Mesa and Tempe. The property also benefits from two major thoroughfares, US-60 and Loop 202, within a four-mile distance allowing for manageable commute times to major employment corridors around The Valley, including Superstition Corridor, Northwest Gilbert Corridor and Fiesta District, providing access to ±66,200 employees and ±2,400 businesses. Evidenced by the growing influence of these employment corridors, Mesa is transforming into a thriving hotspot for economic development. The city’s strategic planning and pro-business incentives, along with its adjacent positioning to the booming cities of Gilbert and Chandler, have procured immense growth in both the employment and lifestyle opportunities available. Through continuous capital investment, Downtown Mesa has become an attractive destination highlighted by popular dining spots, art galleries, and its hosting of annual events, such as Mesa Music Festival. Built in 1983, Suncourt Villas offers 28 units comprised of 14 one-bedroom units covering 645 square feet and 14 two-bedroom units at 925 square feet. Washers and dryers and private yards have been added to 18 of the units, and 26 of the units have received full interior renovations. Future ownership will have the opportunity to add washer and dryer to the remaining 12 units, as well as upgrade the interior of the two classic units to capitalize on the associated rental premium already proven out at the property.

Exclusively Listed By

Financing By

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