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29600402
29600403

5925 E University Dr, Mesa, AZ 85205

RA
AZ
Newmark - Phoenix
Listed by Newmark - Phoenix
$4,395,000
133 days on market
Updated 87 days ago

Terra Vista Gardens

Details
Property Type Multifamily
Sub Type Apartment Building
Net Rentable (SqFt) 14,238
Units 22
Cap Rate 6.01%
NOI $264,169
Occupancy 100%
Pro-Forma Cap Rate 6.01%
Pro-Forma NOI $264,169
Price per SqFt $309
Class B
Year Built 1984
Buildings 3
Stories 1
Acreage 1.410

22 Unit Single Story | 1984 Construction | Pride of Ownership Community in East Mesa

Marketing description

Terra Vista Gardens represents the ideal mid-size apartment community that meets rental and Buyer demand. Those include the following:

• Pride of Ownership Single Story Community

• Solid Block Construction with Timeless Brick Facade

• 1984 Built and Individually Metered

• Pitched Roofs with Roof Mounted HVAC's

• Attractive Low Maintenance Landscaping Throughout

• Covered Parking with Recent Repaved Asphalt and Striping

• All Units Have Front and Back Entrances

• No Pool Property - Lower Expense, Low Maintenance

• All Units Have Full Size Washer & Dryer

• All Units Have Semi-Enclosed Patios

• 12 Units Have Large Space to Add Private Yards (Rent Upside)

• Great Frontage and Curb Appeal on University Drive

• Located in Strong Demographic East Mesa

• Minutes From Golf Courses, Parks, Restaurants, Retail

• Major Employers; Boeing, Amazon, Northrop Grumman, Falcon Field, Mesa Community College, Banner Medical

Listing Contacts

RA
AZ
Newmark - Phoenix
Listed by Newmark - Phoenix

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$264,169.00
$22,014.08/mo

Valuation Metrics

0
DSCR
6.01%
Cap Rate
6.01%
ROI

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