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1st Ave Apartments 750 E 1st Ave 16 Unit Apartment Building $2,400,000 ($150,000/Unit) Mesa, AZ 85204
Executive Summary
Well-maintained garden-style community consisting of 16 units, positioned in a strong workforce rental submarket with consistent tenant demand and stable occupancy fundamentals. Established in-place cash flow with opportunity to mark rents to market through interior upgrades and operational efficiencies. Situated just minutes from Downtown Mesa’s revitalization corridor, light rail access, dining, retail, and employment centers. Excellent connectivity to US-60 and Loop 202 supports long-term rental demand and tenant retention.
Property Facts
| Price | $2,400,000 | Lot Size | 0.49 AC |
| Price Per Unit | $150,000 | Building Size | 7,500 SF |
| Sale Type | Investment | Average Occupancy | 81% |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1978/2022 |
| Property Subtype | Apartment | Parking Ratio | 10/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | R-4, Mesa - Within a Form Based Code Overlay as well as within an Opportunity Zone. | ||
| Price | $2,400,000 |
| Price Per Unit | $150,000 |
| Sale Type | Investment |
| 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 | 81% |
| No. Stories | 2 |
| Year Built/Renovated | 1978/2022 |
| Parking Ratio | 10/1,000 SF |
| Opportunity Zone |
Yes |
| 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
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 8 | - | 315 |
| 1+1 | 8 | - | 415 |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Some public transit
50/100
Moderately bikeable
70/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $3,019 | Total Assessment | $27,173 |
Property Taxes
Parcel Numbers
Land Assessment
$3,019
Improvements Assessment
$0
Total Assessment
$27,173
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1st Ave Apartments | 750 E 1st Ave
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