Multifamily
Sunset Mesa
237 S Ashland, Mesa, AZ 85204
Listing Price: $8,200,000
Investment Overview
Strategically located off Broadway Road, between Stapley and Mesa Drives, Sunset Mesa (“the property”) is a two-story garden style community located in the heart of Mesa’s economic boom. With Sunset Mesa positioned approximately two miles from the US60 (Superstition Freeway) and one-quarter of a mile to Valley Metro Light Rail off Main Street, residents are awarded the ability to capitalize on all Mesa has to offer, including the surrounding employment corridors, higher education facilities, and lifestyle destinations. In addition to Superstition Employment Corridor's ±32,000 employees, the Fiesta District boasts ±16,500 employees and ±500 businesses, including Banner Health and Mesa Community College. Downtown Mesa has quickly become a desirable home for the arts, sciences, and entertainment for the Southeast Valley, with The Mesa Arts Center and Mesa Music Festival as prime examples. Developed in 1983, Sunset Mesa is comprised of 40 units with a community pool, dog park, onsite office and ample covered parking. The unit mix consists of 13 Studio, 19 one-bedroom, and 8 two-bedroom floorplans ranging from of 400-800 square feet. Future ownership will have the opportunity to implement a proven value-add program to capture renovation premiums associated with upgrading the remaining classic units. An estimated $150 rental premium is achievable on newly renovated units based on in-place rents of comparable properties in the submarket.
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Financing By
Listing Price: $8,200,000
Investment Highlights
- 1980's constructed, garden-style property located immediately to the South of Mesa's rapidly improving downtown district.
- 33 of the 40 units have been fully-renovated inclusive of in-suite laundry.
- Recently stabilized after major renovation program.
Investment Overview
Strategically located off Broadway Road, between Stapley and Mesa Drives, Sunset Mesa (“the property”) is a two-story garden style community located in the heart of Mesa’s economic boom. With Sunset Mesa positioned approximately two miles from the US60 (Superstition Freeway) and one-quarter of a mile to Valley Metro Light Rail off Main Street, residents are awarded the ability to capitalize on all Mesa has to offer, including the surrounding employment corridors, higher education facilities, and lifestyle destinations. In addition to Superstition Employment Corridor's ±32,000 employees, the Fiesta District boasts ±16,500 employees and ±500 businesses, including Banner Health and Mesa Community College. Downtown Mesa has quickly become a desirable home for the arts, sciences, and entertainment for the Southeast Valley, with The Mesa Arts Center and Mesa Music Festival as prime examples. Developed in 1983, Sunset Mesa is comprised of 40 units with a community pool, dog park, onsite office and ample covered parking. The unit mix consists of 13 Studio, 19 one-bedroom, and 8 two-bedroom floorplans ranging from of 400-800 square feet. Future ownership will have the opportunity to implement a proven value-add program to capture renovation premiums associated with upgrading the remaining classic units. An estimated $150 rental premium is achievable on newly renovated units based on in-place rents of comparable properties in the submarket.
Exclusively Listed By
Financing By
