facebook
Traded Co logo
Submit
Daily limit: 0/10

California Buyers Acquire First Avenue Townhouses In Mesa, AZ For $4.8M

Property Image
SOLD
$4,800,000
Mitchell Drake
Dallin Hammond
Carson Griesemer

Arizona

See Similar Deals
MultiFamily
Sold 07/25/2023
the dealplayerscompscontact
Property Image
SOLD

California Buyers Acquire First Avenue Townhouses In Mesa, AZ For $4.8M

707 West 1st Avenue Mesa, Az 85210, Usa

See Similar Deals
MultiFamily
Sold 07/25/2023
Mitchell Drake
Dallin Hammond
Carson Griesemer
the dealplayerscompscontact
Contact now

Summary

ARIZONA
Asset Type:MultiFamily
Transaction Type:Sale

The First Avenue Townhouses, a 20-unit multifamily apartment community located at 707-731 West 1st Avenue in Mesa, Arizona, has been sold for $4.8 million. The property, represented by ABI Multifamily's Mitchell Drake, Carson Griesemer, and Dallin Hammond, attracted both the buyer and seller from California.

Summary of transaction details

  • Property Type: MultiFamily
  • Transaction Amount: $4,800,000
  • Number of Units: 20
  • Price per Unit: $240,000
  • Market: Mesa, AZ

ABI Multifamily's Mitchell Drake, Carson Griesemer, and Dallin Hammond played a pivotal role in facilitating the successful sale of the First Avenue Townhouses. The buyer and seller, hailing from California, chose to engage ABI Multifamily and entrusted the expertise of these brokers to represent them in the transaction. No additional details were provided regarding the parties involved or their motivations for the purchase or sale.

Players

Carson Griesemer
ABI Multifamily
Carson Griesemer
5 deals$27.1M volume
BROKER
Dallin Hammond
ABI Multifamily
Dallin Hammond
4 deals$24.5M volume
BROKER
Mitchell Drake
ABI Multifamily
Mitchell Drake
5 deals$27.1M volume
BROKER

Details

SOLD
IMAGE: Mitchell Drake, Carson Griesemer & Dallin Hammond DATE: 07/25/2023 ADDRESS: 707–731 West 1st Avenue MARKET: Mesa, AZ ASSET TYPE: MultiFamily BROKERS: Mitchell Drake, Carson Griesemer & Dallin Hammond - ABI Multifamily SALE PRICE: $4,800,000 UNITS: 20 ~ PPU: $240,000 NOTE: ABI Multifamily has successfully facilitated the sale of First Avenue Townhouses, a 20-unit multifamily apartment community in Mesa, Arizona, for $4.8 million. The buyer and seller, both based in California, were represented by ABI Multifamily's Mitchell Drake, Carson Griesemer, and Dallin Hammond.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$256,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$17,053.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,754.45
Annual Debt Service$273,053.39