The Rio_Property for Sale
The Rio_Property for Sale
830 N Alma School Rd, Mesa, AZ, 85201-3869, US

The Rio

Asset Description

JLL is pleased to present The Rio, a 44-unit garden-style apartment community in the rapidly growing Mesa submarket. Built in 1986, the Property is made of wood-frame construction with pitched composite tile roofs and is individually metered for electricity. The Rio sits on 1.79-acres of well-manicured landscaping with mature shade trees throughout the Property.


The two-story community offers one and two bedroom floor plans that are extremely spacious and well-designed. Current ownership has upgraded approximately 61% of the units with platinum-level finishes featuring vinyl plank flooring, quartz countertops, stainless-steel appliances, brushed-nickel hardware, decorative tile backsplash, upgraded bathroom hardware, and modern floor-to-ceiling shower tile.


In addition to the recent remodel, all units have in-suite washers and dryers. With 39% of units able to be upgraded to platinum-level finishes alongside the exterior landscaping and community amenities recently enhanced by current ownership, The Rio will provide the unique opportunity for a new owner to significantly increase revenue by completing the renovation program.


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Attributes

Asking price
HK$89,387,000
Number of units
44
Year built
1986
Year renovated
2023
Building area net
36,600 sf
Land area net
1.79 acres

Media

Investment Highlights

  • Premier Mesa Location with Extremely High Barriers to Entry
  • 1986 Construction
  • High Visibility Community with Traffic Counts of +- 31,000 Vehicles per Day
  • Extremely Strong Submarket Fundamentals
  • Majority Two Bedroom, Two Bathroom Floorplans
  • Proximity to Novus Innovation Corridor, Mill Avenue, Boutique Retail, Independent Restaurants, Employment Drivers, and Loop 202
  • 100% of Units Have In-Suite Washers and Dryers
The Rio 4_Property for Sale
The Rio 4_Property for Sale

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The Rio (0 Properties)

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Last updated
25 Oct 2024