East University Drive 1255, Mesa, AZ, 85203, US

Connect on University

Asset Description

JLL is pleased to present Connect on University, a 67-unit garden-style apartment community in North Mesa. Built in 1969 and renovated in 2023/2024, the community is made of block construction with pitched roofs and is individually-metered for electricity. Connect on University provides an investor the rare opportunity to acquire a low-density/single story community that has been extensively renovated with partial value-add potential.

Connect on University benefits from excellent demand drivers with extremely high barriers to entry. Most notable, new corporate tech investments in Mesa are leading to a significant in-migration of young professionals in the area. Furthermore, the community’s proximity near Downtown Mesa, the Valley Metro Light Rail, entertainment centers, and excellent retail and dining offerings provide a highly desirable location for future residents.

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Attributes

Number of units

Year built

1969

Year renovated

2023

Media

Investment Highlights

Spacious Garden-Style Community Featuring 73% Two-Bedroom/Two-Bathroom Floor Plans with Private Patios that Average 930 Square Feet
Approximately $1.5M in Capital Improvements to Improve Building Systems
Value-Add Potential with Minimal Investment and Opportunity for Operational Optimization
Robust North Mesa Submarket Fundamentals Fuels Investor Demand
Major Tech Developments Providing a Surge in Mesa’s Economic Expansion
High-Visibility Community with Proximity to Local Metro Transit
Mesa is the Hub for Retail, Dining, Entertainment and Cultural Attractions