Property Listing No Longer Available for Sale

1938 North Alta Mesa Dr, Mesa, AZ

Multi-family for Sale - $8,800,000 - 68,584 Sq. Ft. on 0.08 acres


Property Info

CIMLS#960418
Location
  1938 North Alta Mesa Dr
  Mesa AZ 85205
UpdatedNovember 6th, 2017
TypeMulti-family
Price$8,800,000
Building68,584 Sq. Ft.
Land0.08 acres

Property Description

The Sacturary at Alta Mesa is a Build For Rent (BFR) investment opportunity consists of 31 fee simple lots currently under construction built as Single Family Residential Rental properties. The rental subdivision is located in Mesa, AZ. These quality new build homes for rental investment features an opportunity for Buyer to purchase homes at Certificate of Occupancy and place tenants prior to completion so the investment is immediately cash flowing. Currently professionally managed and two homes have already been leased at Certificate of Occupancy.

Employment in the immediate area here is bolstered by the presence of Boeing and Banner Health, allowing the thousands employed in the immediate area an affordable option to reside in a quality single family residential subdivision in the Sanctuary at Alta Mesa. Year over Year values have increased 7.2% and is expected to see a steady increase in the next few years.

The Sanctuary Build For Rent (BFR) portfolio offers almost no capital expenditures for several years after occupancy. The Developer/Builder here is a seasoned East Valley Builder, who's family has been in the home building business for over 50 years and their experience in the community is well known for quality & integrity. The Sanctuary at Alta Mesa offers three spacious floor plans ranging in size from 2,118/sf, 2,136/sf, and 2,482/sf. Rental rates range from $1,650 to $1,850 per month for these beautiful homes. Pre-Leashing is underway for the homes, creating an immediate cash flow and return on your investment from day one!

Location Description:

The Sanctuary at Alta Mesa is minutes from Longbow Golf Course and Alta Mesa Country Club, ensuring that there


Financials