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29853606
29853623

6521 E University Dr, Mesa, AZ 85205

PB
AZ SA671037000
Marcus & Millichap - Phoenix
DM
AZ SA101706000
Marcus & Millichap - Phoenix
AS
AZ SA659585000
Marcus & Millichap - Phoenix
Listed by Marcus & Millichap - Phoenix
$7,000,000
104 days on market
Updated 12 days ago

Bella Rosa

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 23,800
Net Rentable (SqFt) 23,800
Units 28
Price per SqFt $294
Year Built 2003
Buildings 50
Stories 1
Acreage 1.900
Parking Spaces 59 spaces
Parking Per SqFt 2.48

Bella Rosa | 28 Units | 5.49% Cap Rate (T-30)

Marketing description

Advantageously located adjacent to the lifestyle resurgence of downtown Mesa, Bella Rosa (“the property”) is an apartment community located on the southside of University Drive between Recker Road and Power Road. Pinpointed against the backdrop of the newfound resurgence of Downtown Mesa, the property is primely positioned to reap the benefits of the surrounding employment corridors, higher education facilities, and lifestyle destinations, providing residents with a well-rounded landscape to capitalize on. Defined by the area’s eateries, galleries, and annual events, Downtown Mesa is quickly becoming a cultural mainstay for the Southeast Valley, as evidenced by the presences of The Mesa Arts Center and the hosting of Mesa Music Festival. In addition to the ±6,800 employees and ±300 businesses placed in Downtown Mesa, the property has direct access to the long stretch of the Superstition Employment Corridor running down US60 and its ±32,000 employees, as well as the ±16,500 employees and ±500 businesses, including Banner Health and Mesa Community College, stationed in the Fiesta District. A Valley Metro light rail station within walking distance of the property creates seamless transportation to not only these workplaces, but also the enormous Arizona State University just over the Loop 101.

Investment highlights

Bella Rosa was built in 2003 and contains 28 units with a community pool, dog park, and ample parking. The unit mix is made of 100% two-bedroom units each including in-suite laundry, vaulted ceilings and private back yards, with an overall average unit size of 850 square feet. Future ownership will have the ideal opportunity to acquire a mid-sized, 2000’s vintage in booming East Valley submarket.

Listing Contacts

PB
AZ SA671037000
Marcus & Millichap - Phoenix
DM
AZ SA101706000
Marcus & Millichap - Phoenix
AS
AZ SA659585000
Marcus & Millichap - Phoenix
Listed by Marcus & Millichap - Phoenix

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