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- LoopNet Team
750 E 1st Ave
Mesa, AZ 85204
Southwest Villa Apartments-16 units · Multifamily Property For Sale
·
16 Units
PROPERTY FACTS
| No. Units | 16 | Building Size | 7,500 SF |
| Property Type | Multifamily | Average Occupancy | 69% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1978 |
| Building Class | C | Parking Ratio | 10/1,000 SF |
| Lot Size | 0.49 AC | ||
| Zoning | R-4, Mesa - Within a Form Based Code Overlay as well as within an Opportunity Zone. | ||
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.49 AC |
| Building Size | 7,500 SF |
| Average Occupancy | 69% |
| No. Stories | 2 |
| Year Built | 1978 |
| Parking Ratio | 10/1,000 SF |
| Zoning | R-4, Mesa - Within a Form Based Code Overlay as well as within an Opportunity Zone. |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Range
- Tub/Shower
ABOUT 750 E 1ST AVE , MESA, AZ 85204
This is a fantastic investment property with tons of upside. Rents have been low and could be raised quite a bit as most of the tenants have been there for 3+ years without any increases. Property is located within the Opportunity Zone and Mesa's Form Based Code Overlay which allows for decreased set backs and drastically reduced parking ratios. There are eight studio apartments and eight 1 bedroom apartments. The roof was replaced in 2019 and most of the HVAC systems and water heaters have been replaced as well over the last 5 years. The property is located a block from Main Street and there are two light rail stops within a half mile of the property (Mesa Drive and Stapley Drive Stations). Low maintenance landscaping and plenty of parking.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 8 | $562.50 | 400 |
| 1+1 | 8 | $712.50 | 550 |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $3,019 | Total Assessment | $27,173 |
PROPERTY TAXES
