Listed by Matthews
$795,000
3049 E Cicero St
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 4,000
Units 4
Cap Rate 5.7%
NOI $45,296
Price per SqFt $199
Class B
Year Built 1985
Year Renovated 2026
Buildings 1
Stories 2
Acreage 0.195
Fully Renovated 4-Unit Multifamily in East Mesa with Value-Add Upside
Investment highlights
- Recent Capital Improvements The Property has undergone meaningful capital renovations over the past two years, reducing new ownership's near-term Capital Expenditure while enhancing tenant appeal. These Include: Two (2) Fully-Renovated units completed in 2024 which feature new paint and updated modern flooring; and, the remaining Two (2) units which were just finished in Q1 2026 and were revitalized with: new cabinetry, modern flooring, paint as well as brand-new roofing (completed in 2025).
- Value-Add Upside Through Rent Repositioning Opportunity to increase rents to market levels, similar to the upside demonstrated in the neighboring comp achieving a ±7%+ proforma cap.
- Strategic Location Just Off University Drive Corridor Immediate access to a major east-west arterial providing connectivity to employment hubs, retail amenities, and transportation infrastructure.
- High-Demand East Mesa Rental Pocket Located in a steadily growing Mesa submarket supported by major employers and continued population growth trends.
- Vacant Unit Provides Immediate Owner-User or Lease-Up Opportunity One unit currently vacant, offering flexibility for an owner-user or the ability to capture immediate upside; ownership has already received rental interest at $1,295/month, supporting near-term income stabilization.
Listing Contacts
Listed by Matthews
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$45,296.00
$3,774.67/mo
Valuation Metrics
0
DSCR
5.7%
Cap Rate
5.7%
ROI
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