805 N Westwood 5 Unit Apartment Building $1,040,000 ($208,000/Unit) 5.81% Cap Rate Mesa, AZ 85201

ABI Multifamily is pleased to present the 805 North Westwood Apartments, a 5-unit offering in a quiet pocket just northwest of Downtown Mesa. Located off Rio Salado Parkway and Alma School Road, this listing consists of a duplex and a triplex, each on their own individual parcels, with a shared parking lot between them.
Built in 1982, all five units are in great condition. Both units in the duplex are 2-bedroom / 1.5-bathroom and have been extensively renovated. In the triplex, there are (2) 2-bedroom / 1.5-bathroom units and (1) 2-bedroom / 1-bathroom unit with one of the 2-bedroom / 1.5-bathroom units recently completing renovations, the remaining two units are in classic condition but have been well-maintained over the years. Of the five units, the four with 1.5 bathrooms boast a floor plan with basements. The living area, kitchen, half-bath, and laundry are on the main floor while the two bedrooms and full bath are on the basement level. Each of the five units offers in-unit washer & dryer and a private backyard. Four tenants are on month-to-month agreements, while the tenant in the newly renovated unit of the triplex is paying market rent ($1,550/month) on an annual lease.
The bones of the property are in great condition and have been well-maintained over time. The plumbing, electrical, and roof are all in good condition. All three HVAC units on the triplex are less than one year old. The two HVAC units on the duplex are less than three years old. One water heater has been replaced in the last year, and the others are all in good working condition.