860 E Brown Rd - Apartments FOR SALE


Mesa, AZ 85203- Central Mesa
$875,000 USD
949-533-5594
860 E Brown Rd, Mesa, AZ for Sale
$875,000 USD
Apartments - FOR SALE
1/15
null | 6.6% Cap Rate

860 E Brown Rd
Mesa, AZ 85203
Central Mesa


HIGHLIGHTS

  • 4 Units, Built in 1980
  • Unit Mix: (3) 2+1.5, (1) 3+2
  • Average Unit Size: 1,011 Sq. Ft.
  • Current Average Rent: $1,456
  • Pro Forma Average Rent: $1,663
  • Updated Unit Interiors

OVERVIEW

860 E Brown Rd 25 is a townhome-style 4-unit property located in the Central Mesa Submarket of Mesa, AZ. Originally built in 1980, this property features a unique mix of (3) large 2-bedroom, 1.5-bathroom units, and (1) 3-bedroom, 2-bathroom unit along with (2) two-car garages. Each unit offers in-unit laundry hookups as well as access to shared amenities such as a community pool and assigned parking. All 4 units are also sub metered for water, allowing for utility bill back to the tenants. In addition to the implementation of RUBS, the asset also has considerable rental upside potential, as higher rents are supported throughout the community. New ownership will have the opportunity to acquire a well located and maintained asset with a favorable unit mix and potential for NOI growth. The asset sits within the Sun Gardens Apartments HOA and is located just a few miles from attractions such as the Oakland A’s Spring Training facility, Mesa Country Club, and Mesa Riverview. In addition, the property benefits from its strong location near schools, retail centers, and major freeway access. The Central Mesa Submarket has seen substantial growth over recent years and is seen as a desirable submarket for both investors and tenants. Broker of Record David Harrington License No. CO701910000 (AZ) (866) 889-0550 Matthews Real Estate Investment Services, Inc 4110 N Scottsdale Rd Suite 100, Scottsdale, AZ 85251

FOR SALE DETAILS

PRICE

$875,000 USD

PRICE/SF

$243 USD /SF

# OF UNITS

4

PRICE/UNIT

$218,750

CAP RATE

6.6%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sun Gardens

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1980

PARKING SPACES

32

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

R-4, Mesa

APN/PARCEL ID

-

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 Policy.