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505 N Williams 8 Unit Apartment Building $1,200,000 ($150,000/Unit) 7.36% Cap Rate Mesa, AZ 85203
EXECUTIVE SUMMARY
We are excited to offer Eight on Williams in Mesa, the most affordably priced multifamily asset of it's class. This property is an excellent unit mix all two bedroom one bath units. This property has had paint, and a newer roof on the back building in recent years. Some units have granite counter tops updated kitchens flooring The garden style building in back has private yards. All units have covered parking. Some units have washer hook ups as well. This is an excellent rental property in Current rents are averaging 1200 a piece with room to raise. Pro-forma numbers provided as well as current rents. All facts and figures are approximate buyer verify MLS information. Drive by only, tenants are unaware of the sale. Property will be shown with an accepted offer.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$88,369
|
$23.12
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $88,369 |
| Annual Per SF | $23.12 |
PROPERTY FACTS
| Price | $1,200,000 | Building Class | C |
| Price Per Unit | $150,000 | Lot Size | 0.32 AC |
| Sale Type | Investment | Building Size | 3,822 SF |
| Cap Rate | 7.36% | Average Occupancy | 80% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1963 |
| Property Subtype | Apartment | Parking Ratio | 3.4/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | R-4 - R-4, [M-H] MULTI-FAMILY, HIGH DENSITY (UP TO 2,499 SF), Commercial | ||
| Price | $1,200,000 |
| Price Per Unit | $150,000 |
| Sale Type | Investment |
| Cap Rate | 7.36% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.32 AC |
| Building Size | 3,822 SF |
| Average Occupancy | 80% |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 3.4/1,000 SF |
| Zoning | R-4 - R-4, [M-H] MULTI-FAMILY, HIGH DENSITY (UP TO 2,499 SF), Commercial |
AMENITIES
UNIT AMENITIES
- Air Conditioning
SITE AMENITIES
- 24 Hour Access
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 8 | - | 900 |
1 1
PROPERTY TAXES
| Parcel Number | 137-37-049 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $18,494 |
PROPERTY TAXES
Parcel Number
137-37-049
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$18,494
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505 N Williams
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