1150 N April Cir - Multi-Family FOR SALE


Mesa, AZ 85203- Central Mesa
$1,400,000 USD
949-533-5594
1150 N April Cir, Mesa, AZ for Sale
$1,400,000 USD
Multi-Family - FOR SALE
1/14
null | 8.86% Cap Rate

1150 N April Cir
Mesa, AZ 85203
Central Mesa


HIGHLIGHTS

  • Property Overview: 9-unit multifamily asset constructed in 1970
  • Desirable Unit Mix: Features (1) one-bedroom/one-bath unit, (5) two-bedroom/one-bath units and (3) three-bedroom/one-bath units
  • Unit Size: Spacious average unit size of approximately 890 square feet
  • In-Place Income: Strong current average rent of $1,442 per unit
  • Investment Yield: Attractive 8.86% current cap rate (self-managed), offering immediate cash flow
  • Pricing Advantage: Compelling basis relative to replacement cost and market comparables

OVERVIEW

Matthews™ is pleased to present 1142–1150 N April Circle, a 9-unit multifamily opportunity comprised of three well-maintained triplex buildings located in a quiet cul-de-sac setting in the desirable Central Mesa submarket. Originally constructed in 1970, the property has been self-managed and maintained by current ownership for over 20 years, resulting in strong physical condition and stable operations. Each property has undergone substantial capital improvements in recent years, including the replacement of all three roofs (2018, 2020, 2021), a majority of HVAC systems, and multiple plumbing upgrades. Each of the units also feature private yards, carport parking, and washer/dryer hookups. The property consists of a mix of spacious one, two, and three-bedroom floorplans, supporting strong in-place rents with historically low turnover. Strategically located in Central Mesa, the property benefits from convenient access to major employment corridors, retail centers, and transportation infrastructure throughout the greater Phoenix metro area. The surrounding neighborhood offers a quiet, residential environment while remaining well-connected to the broader Valley, making it an attractive option for a wide tenant base. Additionally, the property offers canal access through the beach years of each of the properties. 1142–1150 N April Circle presents a compelling opportunity to acquire a stabilized, pride-of-ownership asset with strong in-Place income and additional upside through continued interior renovations and rental growth. Seller intends to review all offers May 8, 2026. Broker of Record Name David Harrington Company Matthews Real Estate Investment Services, Inc Firm & License License # CO701910000, BR715518000 (AZ) Address 4110 N Scottsdale Rd Suite 100, Scottsdale, AZ 85251 Phone (866) 889-0550

FOR SALE DETAILS

PRICE

$1,400,000 USD

PRICE/SF

$175 USD /SF

# OF UNITS

9

PRICE/UNIT

$155,556

CAP RATE

8.86%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

1142-1150 N April Circle

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1970

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

137-32-190A,137-32-191A,137-32-192A

ASK ABOUT THIS PROPERTY

Brad SkenderianMatthews Real Estate Investment ServicesMore Info
949-533-5594

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Brad SkenderianMatthews Real Estate Investment ServicesMore Info
949-533-5594

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.