thank you
Your email has been sent.
860 E Brown Rd 4 Unit Apartment Building $810,000 ($202,500/Unit) 7.12% Cap Rate Mesa, AZ 85203
INVESTMENT HIGHLIGHTS
- 4 Units, Built in 1980
- Average Unit Size: 1,011 Sq. Ft.
- Pro Forma Average Rent: $1,663
- Unit Mix: (3) 2+1.5, (1) 3+2
- Current Average Rent: $1,456
- Updated Unit Interiors
EXECUTIVE SUMMARY
860 E Brown Rd 25 is a townhome-style 4-unit property located in the Central Mesa Submarket of Mesa, AZ. Originally built in 1980, this property features a unique mix of (3) large 2-bedroom, 1.5-bathroom units, and (1) 3-bedroom, 2-bathroom unit along with (2) two-car garages. Each unit offers in-unit laundry hookups as well as access to shared amenities such as a community pool and assigned parking. All 4 units are also sub metered for water, allowing for utility bill back to the tenants. In addition to the implementation of RUBS, the asset also has considerable rental upside potential, as higher rents are supported throughout the community. New ownership will have the opportunity to acquire a well located and maintained asset with a favorable unit mix and potential for NOI growth.
The asset sits within the Sun Gardens Apartments HOA and is located just a few miles from attractions such as the Oakland A’s Spring Training facility, Mesa Country Club, and Mesa Riverview. In addition, the property benefits from its strong location near schools, retail centers, and major freeway access. The Central Mesa Submarket has seen substantial growth over recent years and is seen as a desirable submarket for both investors and tenants.
Broker of Record
David Harrington
License No. CO701910000 (AZ)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
4110 N Scottsdale Rd Suite 100,
Scottsdale, AZ 85251
The asset sits within the Sun Gardens Apartments HOA and is located just a few miles from attractions such as the Oakland A’s Spring Training facility, Mesa Country Club, and Mesa Riverview. In addition, the property benefits from its strong location near schools, retail centers, and major freeway access. The Central Mesa Submarket has seen substantial growth over recent years and is seen as a desirable submarket for both investors and tenants.
Broker of Record
David Harrington
License No. CO701910000 (AZ)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
4110 N Scottsdale Rd Suite 100,
Scottsdale, AZ 85251
PROPERTY FACTS
| Price | $810,000 | Building Class | C |
| Price Per Unit | $202,500 | Lot Size | 0.09 AC |
| Sale Type | Investment | Building Size | 4,042 SF |
| Cap Rate | 7.12% | No. Stories | 1 |
| No. Units | 4 | Year Built | 1980 |
| Property Type | Multifamily | Parking Ratio | 1.48/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | M-H | ||
| Price | $810,000 |
| Price Per Unit | $202,500 |
| Sale Type | Investment |
| Cap Rate | 7.12% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 4,042 SF |
| No. Stories | 1 |
| Year Built | 1980 |
| Parking Ratio | 1.48/1,000 SF |
| Zoning | M-H |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1.5 | 3 | - | 989 |
| 3+2 | 1 | - | 1,204 |
1 of 1
Bike Score®
Very Bikeable (74)
PROPERTY TAXES
| Parcel Number | 137-09-321 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $16,763 |
PROPERTY TAXES
Parcel Number
137-09-321
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$16,763
1 of 16
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
860 E Brown Rd
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.