Description

JLL is pleased to introduce Mountain View, a 30-unit garden-style apartment community in North Mesa. Built in 1973 and renovated in 2024, the community is made of block construction with built-up foam roofs and is individually metered for electricity. The Property features an attractive unit mix with majority two-bedroom units (60%) and three-bedroom units (40%), with an average unit size of 930 square feet.

Mountain View benefits from excellent demand drivers with extremely high barriers to entry. Most notably, 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

Asking price

¥1,051,068,000

Units

Year built

1973

Year renovated

2024

Media

Investment highlights

Dynamic North Mesa Location with High Barriers to Entry
Extensively Renovated Community with Premium Interior Finish Levels
Attractive Garden-Style Community Featuring 60% Two-Bedroom and 40% Three-Bedroom Floor Plans that Average 930 Square Feet
Robust North Mesa Submarket Fundamental Fuels Investor Demand (~3.5% annual rent growth with 93% absorption projected through 2028)
Major Tech Developments Providing a Surge in Mesa’s Economic Expansion
Prominent Rent to Own Discount Fuels Increased Demand in Surrounding Area