Updated Sep 5, 2024
California Buyers Acquire First Avenue Townhouses In Mesa, AZ For $4.8M
707 West 1st Avenue Mesa, Az 85210, Usa
$4,800,000
Units
20
Asset Type
MultiFamily
Closing
Jul 25, 2023
About this deal
AI
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.
On the Map
$4,800,000
MultiFamily
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Players
Parkesburg MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Deal FAQ
About $240K per unit across 20 units on a published $4.8M (2023).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.30%
Cash-on-Cash
-0.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93