Park Mesa

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Address: 1547 E Broadway Rd, Mesa, AZ 85204, USA
Created date: June 25, 2024
Date last updated: June 25, 2024

-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

Property 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.

Key Property Information

Listing Status: Available
Listing Type: Highest & best offer
Property Types: Apartment Buildings
Price: $8,600,000
No. of Units: 42
Year Built: 1984
Building Size: 35,446 Sq ft
Opportunity Zone: No
Price per unit: $204,762
Address: 1547 E Broadway Rd, Mesa, AZ 85204, USA

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