2340 E McKellips Rd
Mesa, AZ 85213
The Alan · Multifamily Property For Sale · 17 Units

The Alan is a 17-unit Class-A newly constructed townhome community with condo-quality finishes located in a desirable north Mesa location. This ultra-contemporary premier townhome community is located on McKellips Road just east of Gilbert Road. The property has extremely high visibility with street frontage on McKellips Road and traffic counts exceeding 31,000 vehicles per day.* Construction was finished this year and the lease-up was recently completed. The property was built with green “eco-friendly” construction by an award-winning architect. The unit mix is comprised of all three-bedroom/two and one-half bath floorplans that are extremely spacious, very well designed and average 1,280 square feet. Interior units feature premium contemporary finishes and spacious open floor plans, 10-foot ceilings, elegant hardwood-style flooring, gourmet over-sized kitchens with electric stainless-steel appliances, all-LED lighting, in-suite washer/dryers, Wengi-style cabinetry, granite countertops, two-car direct access garages, spacious balconies and private backyards. The property is situated on approximately 1.26 acres and is professionally landscaped with lush turf and low-maintenance desert plants. Exterior amenities include an electronic access gate, barbecue picnic and lawn areas and canal views. The Alan offers an investor the opportunity to purchase a newly constructed Class-A townhome community in an excellent in-fill location with a very high-quality resident profile and priced below replacement cost. In the third quarter of 2018, the submarket rents averaged $1.16 and have increased 7% year-over-year. Furthermore, the average submarket vacancy has decreased by 50 basis points during the same period, significantly greater than the metro Phoenix average.** Strategic path of growth positions the Alan to benefit from accelerating fundamentals across the Phoenix metro. Numerous economic forecasts project Phoenix to lead major western markets in employment and population growth through 2019.