Updated Oct 28, 2024
Baron Properties Acquires Mesa Multifamily For $64.7M With IPA As The Broker
1440 South Val Vista Drive, Mesa, Arizona 85204, United States
$64,650,000
Units
222
Asset Type
MultiFamily
Closing
Oct 10, 2022
About this deal
AI
Located at 1440 South Val Vista Drive in Mesa, AZ, the multifamily property was recently sold in a closed transaction. The deal was completed on October 11, 2022.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $64,650,000
- Units: 222
- Price Per Unit (PPU): $291,216
- Market: Mesa, AZ
- Buyer: Baron Properties
- Seller: OpenPath Investments
- Broker: Institutional Property Advisors
Baron Properties acquired the 222-unit multifamily property from OpenPath Investments. Represented by Institutional Property Advisors, the deal was finalized for a total purchase price of $64,650,000, at a price per unit of $291,216. The property, situated in Mesa, AZ, is expected to provide a valuable addition to Baron Properties' portfolio.
On the Map
$64,650,000
MultiFamily
View full map
Players
Mesa MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Browse Arizona multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93