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SB Real Estate Partners Acquires 126-Unit Multifamily Property In Mesa, AZ For $24.3M

Property Image
SOLD
$24,300,000
Chris Canter
Brett Polachek
Brad Goff

Arizona

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MultiFamily199,940 SF
Sold 10/13/2021
the dealplayerscompscontact
Property Image
SOLD

SB Real Estate Partners Acquires 126-Unit Multifamily Property In Mesa, AZ For $24.3M

3030 East Broadway Road, Mesa, AZ, USA

See Similar Deals
MultiFamily199,940 SF
Sold 10/13/2021
Chris Canter
Brett Polachek
Brad Goff
the dealplayerscompscontact
Contact now

Summary

ARIZONA
Asset Type:MultiFamily
Price Per Square Foot:$121
Total Square Footage:199,940 SF
Transaction Type:Sale

The multifamily property located at 3030 East Broadway Road in Mesa, AZ has been sold. The property spans across 4.59 acres and was acquired for a price of $24,300,000. The transaction took place on October 13, 2021. The property consists of 126 units, with each unit valued at approximately $192,857.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $24,300,000
  • Address: 3030 East Broadway Road, Mesa, AZ
  • Market: Mesa, AZ
  • Acreage: 4.59
  • Price Per Acre: $5,294,118
  • Buyer: SB Real Estate Partners
  • Seller: FPA Multifamily
  • Brokers: Chris Canter, Brett Polachek, & Brad Goff - Newmark
  • Units: 126
  • Price Per Unit: $192,857

The deal was facilitated by brokers Chris Canter, Brett Polachek, and Brad Goff from Newmark. SB Real Estate Partners acted as the buyer, while FPA Multifamily was the seller. This successful transaction demonstrates the value and demand of multifamily properties in the Mesa, AZ market.

Players

Chris Canter
Newmark
Chris Canter
11 deals$630.6M volume
BROKER
Brett Polachek
Newmark
Brett Polachek
11 deals$630.6M volume
BROKER
Brad Goff
Newmark
Brad Goff
11 deals$630.6M volume
BROKER
SB Real Estate Partners
SB Real Estate Partners
BUYER
FPA Multifamily
FPA Multifamily
SELLER

Details

SOLD
IMAGE: Chris Canter, Brad Goff & Brett Polachek DATE: 10/13/2021 ADDRESS: 3030 East Broadway Road MARKET: Mesa, AZ ASSET TYPE: Multifamily ~ ACRES: 4.59 ~ PPA: $5,294,118 BUYER: SB Real Estate Partners SELLER: FPA Multifamily BROKERS: Chris Canter, Brett Polachek, & Brad Goff - Newmark SALE PRICE: $24,300,000 UNITS: 126 ~ PPU: $192,857

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,296,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$86,332.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$115,194.40
Annual Debt Service$1,382,332.77