35 N May St - Apartments FOR SALE


Mesa, AZ 85201- Central Mesa
$2,000,000 USD
505-980-3726
35 N May St, Mesa, AZ for Sale
$2,000,000 USD
Apartments - FOR SALE
1/16
null | 5.61% Cap Rate

35 N May St
Mesa, AZ 85201
Central Mesa


HIGHLIGHTS

  • 100% Occupancy with a Long Term Tenant Base
  • Full-Size Appliances & Individual Electric Meters
  • On-Site Washer & Dryer
  • Well Maintained Asset With Updated Units
  • Located in a Quite Residential Neighborhood

OVERVIEW

May Gardens Apartments is a well-maintained, 12-unit multifamily community located in the heart of Mesa, Arizona. The property features a mix of ten (10) one-bedroom, one-bath units and two (2) two-bedroom, one-bath units, each equipped with full-size appliances and individual electric meters. The interiors are in good overall condition, offering a clean and comfortable living environment for tenants. The property includes an on-site laundry facility that provides both added convenience for residents and additional income for ownership. The current owners have owned and maintained the property long-term, ensuring consistent care and upkeep over the years. Recent improvements include the replacement or rebuild of two HVAC units and partial roof work completed within the last 18 months, minimizing near-term maintenance needs. Strategically positioned just southeast of the Loop 101 and Loop 202 interchange, May Gardens enjoys easy access to major transportation corridors and sits within walking distance of the Valley Metro Light Rail. Downtown Mesa, with its vibrant mix of dining, retail, and entertainment options, is only minutes away. The surrounding neighborhood consists primarily of single-family homes and other multifamily communities, creating a stable, well-established residential environment. With 100% occupancy, professional management in place, and a desirable location near key transportation and employment hubs, May Gardens represents a turnkey investment opportunity in one of the East Valley’s most promising submarkets.

FOR SALE DETAILS

PRICE

$2,000,000 USD

PRICE/SF

$295 USD /SF

# OF UNITS

12

PRICE/UNIT

$166,667

CAP RATE

5.61%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

May Garden Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1981

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.4 AC

LAND SF

17,424 SF

ZONING

R-4, Mesa

APN/PARCEL ID

135-47-089,135-47-090

ASK ABOUT THIS PROPERTY

Cody LeslieORION Investment Real EstateMore Info
505-980-3726

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Cody LeslieORION Investment Real EstateMore Info
505-980-3726

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