Property Description

This rare to market stable, seven unit apartment building is walking distance to the light rail Near Downtown Mesa and consists of seven 1 bedroom and 1 bathroom units. Most of the tenants have been in their units for many years, and some have even lived there for decades. The photos we have are from 2024 when the last unit turned over. All units currently rented at $850 or more per month except one, so there is a little room to increase rents as the units turn over. Listed at a 6.1 CAP Rate generating just under $24,380 NOI in the last twelve months with very stable tenant mix, increased income opportunity, and long term value investment near Downtown Mesa.

Property Features