UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Subdivision Granite Reef Vista Unit No 1
MLS Listing ID 6905416
Maintenance Fees $3,577
Year Built 1984
Annual Tax Amount $1,135
Tax Year 2024
Lot Dimensions 60x150
Source Arizona Regional Multiple Listing Service (ARMLS)
Property Description
Currently operating at 100% occupancy with rents well below market, the asset offers substantial value-add potential through rent optimization (market achievable: $1,250-$1,350 per unit) and optional repositioning for higher and better use. The property's single-story design contributes to lower operating costs, reduced maintenance, and minimal turnover, (continued) making it ideal for investors seeking stable, long-term cash flow with future development upside.
Investment Highlights
Unit Mix: Four (4) × 2-Bedroom / 1-Bath units, ±864 SF each
Building Size: ±3,456 SF | Year Built: 1984
Zoning: R-4 - Allows for multifamily density increases
Amenities: In-unit W/D hookups, private yards, central A/C
Occupancy: 100% | Current rents significantly below market
Upside: Potential 20%+ rent growth and redevelopment options
Location Overview
Situated in Mesa, Arizona, one of the fastest-growing cities in the Phoenix Metro, Four on Avalon benefits from a strategic location with strong economic drivers, robust population growth, and an expanding employment base. Residents enjoy proximity to The Hub Grill and Bar, Superstition Springs Center, Mesa Arts Center, and Mesa Historical Museum, as well as outdoor recreation at Red Mountain Park and Usery Mountain Regional Park.
The property offers excellent transportation connectivity with direct access to major freeways and is less than 15 minutes from Phoenix-Mesa Gateway Airport, ensuring ongoing demand and long-term appreciation potential.
All facts and figures are approximate buyer verify information
Location
State AZ
County Maricopa
Community Granite Reef Vista Unit No 1
Zoning C4
Interior
Heating Electric
Cooling Central Air, Ceiling Fan(s), Electric
Flooring Ceramic Tile
Appliance Built-In Range, Dishwasher, Refrigerator, Washer/Dryer, W/D Hookup
Exterior
Parking Features Paved, <1 Space Per Unit
Community Features No Pool
Roof Type Composition
Building
Sewer Public Sewer
Water City Franchise
New Construction No
Schools
Elementary Schools Salk Elementary School
Middle Schools Fremont Junior High School
High Schools Red Mountain High School
School District Mesa Unified District
Others
Senior Community No
Tax ID 141-60-014
Acceptable Financing Conventional, FHA, VA Loan
Listing Terms Conventional, FHA, VA Loan
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