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720 N Westwood
Mesa, AZ 85201
Multifamily Property For Sale
·
5 Units
PROPERTY FACTS
| No. Units | 5 | Lot Size | 0.30 AC |
| Property Type | Multifamily | Building Size | 2,824 SF |
| Property Subtype | Apartment | Average Occupancy | 100% |
| Apartment Style | Low-Rise | No. Stories | 1 |
| Building Class | C | Year Built/Renovated | 1968/2018 |
| Zoning | RM-4 | ||
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 2,824 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1968/2018 |
| Zoning | RM-4 |
ABOUT 720 N WESTWOOD , MESA, AZ 85201
720 N Westwood is a 100% occupied 5-unit apartment complex in Mesa, Arizona. The property has recently undergone several renovations and upgrades, totaling to more than $37,600 of capital expenditure in the past 6-10 months. Currently, the property is both owner-managed and owner-maintained, keeping the reported operating expenses wonderfully low (18%). It generated a Net Operating Income of $32,903 in 2017, with room for additional upside through rent increases. This property has a cap rate (6.9%) that out-classes most similar properties in the Greater Phoenix Area. In the proforma expense projections for 2018, $2,000 were added to account for ongoing repairs & maintenance, although with the multiple recent upgrades, it is quite likely that this figure will be significantly lower, especially considering the current owner has not had any need for routine maintenance since purchasing the property. Leverage (debt) will have a noticeable impact on this property's cash flow, increasing the return on investment by a projected 1% over an all-cash purchase. This calculation assumes typical rates from an institutional lender (30% down payment, 5% interest rate, amortized over 30 years).
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 2 | $607.50 | - |
PROPERTY TAXES
| Parcel Number | 135-29-068J | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $16,821 |
PROPERTY TAXES
