East View | 245 North 56th Street, Mesa, AZ 85205 | 56 Units | $8,232,000 | $147,000 Per Unit | $149.67 Per SF
PRESS RELEASE
FOR IMMEDIATE RELEASE
Contact:
Corporate Headquarters
ABI Multifamily
Phone: 602.714.1400
Company Website: www.ABImultifamily.com
Phoenix, Arizona (February 3, 2021) - ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $8,232,000 / $147,000 Per Unit / $149.67 Per SF sale of East View Apartments, a 56-unit multifamily apartment property located in Mesa, Arizona.
Built in 1985, the property is a block-constructed community with pitched composition shingle roofs. The unit mix consists of (12) one-bedroom / one-bathroom units and (44) two-bedroom / two-bathroom units with a total average of 982 square feet per unit. Each unit is individually metered for electricity and features individual HVACs and hot water heaters. Interior amenities include: in-suite washers / dryers, white appliances, vinyl wood plank flooring, and patios or balconies. The community also provides covered parking and the potential for private back patios.
East View Apartments includes easy access to the US-60 (Superstition Freeway) and is just minutes away from Banner Desert Medical Center, Arizona Golf Resort and Event Center, and the Dreamland Villa Desert Nature Trail.
Mitchell Drake, Vice President at ABI, states, "The seller's, who had built the property in the early 80's, connected with our team once they were comfortable with the current economic environment and the sale was conducted off-market. Finding a buyer for this value-add property was seamless as the building boasts a rare majority of single-story, two-bed / two-bath units each almost 1,000 square feet. Before the transaction even closed, the buyer was able to pre-lease a couple of the classic units at $1,100/month."
ABI Multifamily's Mitchell Drake, Dallin Hammond, Carson Griesemer, and Michael Burke represented the buyer and the seller in the transaction.
The Buyer is based in California. The seller is based in Arizona.
ABI Multifamily (http://www.abimultifamily.com/) is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. With offices in Phoenix, Tucson, Sacramento, and San Diego, the experienced advisors at ABI Multifamily have completed billions of dollars in sales and thousands of individual multifamily transactions. ABI Multifamily incorporates a global approach with regional real estate expertise to successfully complete any multifamily transaction, regardless of size and complexity.