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- LoopNet Team
604 N Center St
Mesa, AZ 85201
Center Street Apartments · Multifamily Property For Sale
·
8 Units
INVESTMENT HIGHLIGHTS
- In-Place Cap Rate 6.4%
- Proximity to Downtown Mesa, a Metro Light Rail Stop and Arizona State’s new Mesa location scheduled to open in the fall of 2021
- Low-Maintenance Asset Providing Ease-of- Management to an Out-of-State Investor
- Extensively Renovated in 2017 Including New Roofs, HVAC’s, Electrical, Dual-Pane Windows and Hot Water Heaters
- Block Construction, Pitched Roofs and Spacious Patios with Washer/Dryer Hook-ups
- Charming Single-Story Boutique Community in a Desirable North Mesa Location
PROPERTY FACTS
| No. Units | 8 | Lot Size | 0.37 AC |
| Property Type | Multifamily | Building Size | 5,000 SF |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Garden | Year Built/Renovated | 1969/2017 |
| Building Class | C | ||
| Zoning | M-M | ||
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.37 AC |
| Building Size | 5,000 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1969/2017 |
| Zoning | M-M |
ABOUT 604 N CENTER ST , MESA, AZ 85201
Center Apartments is a charming 7-unit boutique apartment community located on Center Street in Mesa just north of University Drive. Built in 1969 and extensively renovated in 2017, the single-story property is made of block construction with pitched composite shingle roofs and is individually-metered for electricity. The property is in proximity to Fitch Park, a ±31-acre sports and recreational complex, Hohokam Park, the Oakland Athletics Spring Training Stadium, Mesa Convention Center and Mesa Art’s Center. In addition, the property is less than 1 mile from Downtown Mesa; Arizona State’s new Mesa location scheduled to open in the fall of 2021 and part of the city’s efforts to build an Innovation District in downtown Mesa. A Metro Light Rail stop located at Center Street and Main Street is less than one mile from the community. Click on the "Confidentiality Agreement" link below. Once you complete the CA, you can download the Offering Memorandum.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | - | 600 |
| 2+1 | 2 | - | 800 |
| 3+2 | 1 | - | 700 |
