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737 E. Brown Rd.
Mesa, AZ 85201 ·

65 Units · Multifamily For Sale

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Brownwood Terrace Town Homes

Price N/A Cap Rate 8.11%
No. Units 65 Gross Rent Multiplier 6.95
Building Size 64,350 SF No. Stories 2
Property Type Multifamily Year Built 1985
Property Sub-type Garden/Low-Rise Lot Size 2.28 AC
Property Use Type Investment
Listing ID: 15997476 Date Created: 11/20/2008 Last Updated: 07/24/2009

Description

SELLER WILL ENTERTAIN ALL OFFERS. Brownwood Terrace Town Homes consist of sixty-five spacious 1,050 to 900 square foot individual town-homes in the final stage of becoming sale ready as true town homes/condominiums. The town homes are all large two story/two bedroom floor plans with washer/dryer hook ups and private front and back door entries that allow tenants to access their homes directly from their adjacent covered parking space. Built in 1985 and 1972 with slump block construction and individual metering, the pride of ownership community consists of 7 buildings totaling approximately 64,350 rentable square feet and lies on 2.28 acres of R-4 Mesa zoned land. The town homes have excellent exposure and great frontage at the southwest corner of the intersection of Brown Road and Horne. Community amenities include two sparkling swimming pools, a barbeque area next to a private park, mature landscaping, full covered parking, and laundry facilities.

Brownwood Terrace Town Homes have excellent pedestrian and traffic exposure at the heavily traveled southwest corner of Brown Road and Horne at 737 E. Brown Road in Mesa, Arizona 85203. The town homes have good access to transportation with the Loop 202 Freeway just a mile and half north of the property and a convenient bus route a short walk away on Mesa Drive and Brown Road. Numerous shopping and entertainment venues which provide residence demand close to Brownwood Terrace Town Homes includes Fitch Plaza, the brand new Mesa Riverview Power Center, and downtown Mesa also adds more shopping and entertainment opportunities. The property is also close to Falcon Field, which is one of the busiest general aviation airports in the country.

Highlights

  • All Large 2 Bedroom/2 Story Town Homes with private front and back entries
  • Investment allows investor the ability to hold a cash flowing/condo conversion opportunity property
  • Individually Metered, Front & Back Doors, W/D Hookups in Select Units
  • Private Park w/ Covered BBQ Area, 2 Sparkling Swimming Pools
  • $54,615 Per Unit & $55.17 Per Square Foot for true town homes
  • Covered Parking, spacious courtyards, Laundry Facilities

Research

737 E. Brown Rd., Mesa, AZ 85201 (Maricopa County)

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