class “a” multifamily investment … •oga studio y • carports and detached garages ... $869...
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CLASS “A” MULTIFAMILY INVESTMENT OPPORTUNITY WITH VALUE-ADD POTENTIAL1304 South 105th Place • Mesa, Arizona • 384 Units
Av a i l a b l e Fo r P u r c h a s e
Brett Polachek, +1 602 229 5989, [email protected] | David Fogler, +1 602 224 4443, [email protected] | Steven Nicoluzakis, +1 602 224 4429, [email protected]
NUMBER OF UNITS ..........163 Units
YEAR BUILT ..........................2014
AVERAGE UNIT SIZE .......860 Square Feet
PRICE .......................................Market
TERMS ...................................All Cash
1304 South 105th Place • Mesa, Arizona • 384 Units
THE OFFERINGNUMBER OF UNITS ..........384 Units
YEAR BUILT ..........................2009
AVERAGE UNIT SIZE .......±965 Square Feet
PRICE .......................................Market
TERMS ...................................All Cash
INVESTMENT FEATURES• Clubhouse
• Resort-style swimming pool
• Poolside cafe tables and barbecue grills
• Sundeck and spa
• Resident business center with WiFi, fax and copier
• Fitness center
• Yoga studio
• Carports and detached garages
• Gated entry
• Extra storage units
• Dog park
INTERIORS
• Ceramic tile flooring
• Crown molding
• Built-in computer niche*
• Faux granite countertops
• Double stainless steel sink
• Breakfast bar
• Whirlpool black appliances
• Full-size washer/dryers
• Laundry room*
• Walk-in closets
• Roman soaking tub in master bath
• Vanity seating and double sink*
• Detached private garage*
• Private patios/balconies
• Nine-foot ceilings on all floors
CLASS “A” MULTIFAMILY INVESTMENT OPPORTUNITY WITH VALUE-ADD POTENTIAL
Cushman & Wakefield is pleased to offer THE DISTRICT AT MOUNTAIN VISTA, a 384-unit Class “A”, garden-style luxury rental community with value-add potential located in East Mesa near the US-60 and 202 freeways, with easy access to restaurants, shopping, entertainment and recreation. The District at Mountain Vista features a mix of one, two and three bedroom floor plans and superior amenities. Nearby are schools, medical centers, parks, movie theaters, golf courses and many shopping and dining options. The property’s location provides easy access to the US-60 and the 202 freeways, connecting residents to the rest of the Metro Phoenix area.
Unique Class “A” LightValue-Add Opportunity MULTIFAMILY PROPERTY
*Select Units
PROFORMA - BASED ON CURRENT IN PLACE RENTAL RATESFINANCIAL SUMMARY
This information contained within this brochure has been obtained from sources other than Cushman & Wakefield. Cushman & Wakefield has not verified such information and makes no guarantee, warranty
or representation about such information. It is your responsibility to independently confirm its accuracy and completeness. Any dimensions, specifications, floor plans and information may not be accurate
and should be verified by you prior to the lease or purchase of the property. The value of this transaction to you depends on economic and other factors which should be evaluated by your tax, financial and
legal advisors. You and your advisor should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
Unit Type % No. NRSF Rent Per SFA1 1 Bedroom / 1 Bath 19% 72 720 $869 $1.21
A2 1 Bedroom / 1 Bath 22% 84 815 $895 $1.10
B 2 Bedroom / 1 Bath 6% 24 918 $1,129 $1.23
B1 2 Bedroom / 2 Bath 22% 84 1,040 $1,117 $1.07
B2 2 Bedroom / 2 Bath 25% 96 1,130 $1,156 $1.02
C1 3 Bedroom / 2 Bath 6% 24 1,342 $1,363 $1.02
Totals / Averages 100% 384 965 $1,048 $1.09
PROFORMA INCOMEScheduled Gross Potential Rental Income - Monthly $398,307
Scheduled Gross Potential Rental Income - Annual $4,779,683
Vacancy 5.00% ($238,984)
Other Loss 1.75% ($83,645)
Net Rental Income $4,457,054
Total Other Income $1,575/unit $604,800
Effective Gross Income Annual $5,061,854
PROFORMA EXPENSES PER UNIT ANNUAL
Administrative $250 $96,000
Advertising $150 $57,600
Maintenance $525 $201,600
Salaries $1,250 $480,000
Utilities $600 $230,400
Subtotal Controllable Expenses $2,775 $1,065,600
Management Fee 3.00% $395 $151,856
Property Insurance $110 $42,240
Real Estate Taxes 2017 $1,182 $453,823
Replacement Reserve $250 $96,000
Total Expenses $4,712 $1,809,519
NET OPERATING INCOME $3,252,335
2555 E Camelback Rd Ste 400 | Phoenix, Arizona 85016
p +1 602 954 9000 | f +1 602 468 8588 cushmanwakefield.com
David Fogler+1 602 224 [email protected]
Steven Nicoluzakis+1 602 224 [email protected]
SOUT
HERN
AVE
MOUNTAIN VISTAMEDICAL CENTER
GILBERT
CHANDLERPHOENIX MESAGATEWAY AIRPORT ASU
POLYTECNICCAMPUS
SCOTTSDALE
FOUNTAINHILLS
PARADISE VALLEY
PHOENIXSKY HARBOR
AIRPORT
PHOENIX
TOLLESONGOODYEAR
AVONDALE
SURPRISE
GLENDALE
SUNCITY
GILBERT
QUEENCREEK
CHANDLER
TEMPE
PEORIA
MESA
Brett Polachek+1 602 229 [email protected]