Liv Communities Acquires Multifamily Development Site In Mesa For $5M
9410 East Ray Road
$5,000,000
Building Size
—
Asset Type
MultiFamily
Closing
May 1, 2024
AI
The Premiere at Eastmark 3.0 is an 8.55-acre multifamily development site located at 9410 East Ray Road in Mesa, Arizona. The property was sold for $5,000,000 to Liv Communities by PCS Development. The transaction took place on May 01, 2024, in Mesa's market.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,000,000
- Buyer: Liv Communities
- Seller: PCS Development
- Brokers: Cliff David, Steve Gebing & Trevor Hardy - Institutional Property Advisors
- Address: 9410 East Ray Road
- Market: Mesa, AZ
- Asset Type: Multifamily
- Acres: 8.55
Institutional Property Advisors, a division of Marcus & Millichap, facilitated the sale of The Premiere at Eastmark 3.0 for $5 million. The property, benefiting from its proximity to Mesa’s Elliot Road Technology Corridor and Phoenix-Mesa Gateway Airport employment hub, attracted Liv Communities as the buyer and was sold by PCS Development.
Players
Mesa MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93