Harris Place is a well maintained 48 unit multifamily community that has been owned and operated by current ownership for the past decade. The community is solidly built of block construction with concrete subfloors in between first and second floor units. This provides benefit to residents in lessoning noise between units and allows ownership to provide hard surface flooring on the second floor units. The property has no pool and low-maintenance desert landscape resulting in lower operating expenses and lighter maintenance needs. The 2 story community is comprised of affordable studio and 1 bedroom units that serve well in this Downtown Mesa neighborhood. Recent capital improvements have been made to benefit new ownership and to further enhance the community and resident living experience. Those capital improvements include a complete exterior paint, recoated roofs, resurfaced and re-striped parking lot, replacement of numerous HVAC units, and new attractive low maintenance desert landscaping. Current ownership has maintained the unit interiors which are in classic condition. With the recent exterior improvements and curb appeal, new ownership has the tremendous opportunity and immediate upside in rents by upgrading the unit finishes and amenities and lifting the rents $100-$200 from current rent levels. In addition to upgraded unit finishes, given the modern electric service panels along with the proximity of the bedroom closet to the shower drain lines, in-unit washer/dryers could be added to each unit in both a cost efficient and timely manner, resulting in an additional $100+/unit premium. Properties within the submarket that have upgraded finishes and washer & dryer installation in-unit, have successfully increased rental rates within the submarket. Harris Place is a prime candidate for the implementation of this interior value-add program. Harris Place is ideally situated just off historic Main Street on the edge of Downtown Mesa, which is currently going through a rebranding and revitalization of over $500 million in surrounding capital investments. The recent revival of Main Street with the Stapley-Gilbert Road Light Rail extension has resulted in $240 Million of completed economic development projects with more on the way. Downtown Mesa’s $500+ Million mixed-use projects highlighted by ASU at Mesa City Center provides the anchor and engine for academics and entrepreneurs. This has provided a transitional shift to a reimagined Downtown Mesa as a lifestyle destination with growing pedestrian traffic with its local eateries, trendy breweries, and popular retailers being added to the downtown core.