East Broadway Road 1547, Mesa, AZ, 85204, US

Park Mesa

Asset Description

JLL is pleased to present Park Mesa, a 42-unit multifamily opportunity in near Downtown Mesa. Built in 1984, the property is made of wood frame and stucco construction with pitched composition shingle roofs and is individually metered for electricity. The community is well-maintained and shows great pride-of-ownership.

Park Mesa benefits from its proximity to the higher education, lifestyle and employment accessibility of Downtown Mesa. Additionally, the Phoenix Metro Light Rail is only about a half mile north of the property and the U.S. 60 is about a mile and a half south, both of which provide residents with access to all other major employment, entertainment, and lifestyle corridors in the metro area.

Park Mesa represents a value-add/revenue enhancement opportunity by updating interior finish levels, continuing to install washer/dryers and converting the laundry room and storage room into a rental unit.

...

Attributes

Asking price

MYR 40,756,000

Number of units

42 units

Year built

1984

Building area net

3,293 m²

Media

Investment Highlights

3.70% Fixed Rate Assumable Financing Due in 2031
Desirable North Mesa Submarket
Majority Two-Bedroom Floor Plans that Average 813 Square Feet
1984 Construction
Value-Add Potential via Interior Unit Upgrades and Continuing Washer/Dryers Installation
Significant Mark-to-Market and Loss-to-Lease Potential