241 East Apartments | 241 East 1st Avenue, Mesa, AZ 85210 | 46 Units | $7,100,000 | $154,348 Per Unit | $226.62 Per SF
PRESS RELEASE
FOR IMMEDIATE RELEASE
Contact:
Corporate Headquarters
ABI Multifamily
Phone: 602.714.1400
Company Website: www.ABImultifamily.com
Phoenix, AZ. (October 5, 2021) – ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $7,100,000 / $154,348 Per Unit / $226.62 Per SF sale of 241 East Apartments, a 46-unit multifamily apartment community located in Mesa, Arizona.
241 East Apartments is a 46-unit garden-style apartment community located near Downtown Mesa, Arizona. Residents enjoy direct access to all areas of the Phoenix Valley by way of the Red Mountain Freeway (Loop 202), Superstition Freeway (US 60), and Price Freeway (Loop 101). In addition, a Metro Light Rail station is within a couple of blocks (0.3 miles) away on North Mesa Drive and East Main Street. Dining, entertainment, and recreational opportunities surround the property in the nearby Downtown Mesa area. Pioneer Park, with its recent major upgrades, is also located within a half mile and a 10-minute walk from the property. All these aspects make 241 East Apartments a highly desirable location for all its residents.
The property was built in 1966 and is constructed of wood frame and stucco in four two-story buildings on a 1.50-acre lot. The unit mix consists of 38 one-bedroom / one-bath units and 8 two-bedroom / one-and-a-half bath units. Each unit is individually metered for electricity. Interior amenities include air conditioning / heating, newly refinished countertops, vinyl-wood / tile-flooring, ceiling fans, extra storage, tiled walk-in shower, and kitchens fully equipped with white appliance package. The community also provides its residents with swimming pool, on-site laundry facility, courtyard area, and open / covered parking.
Significant employers in proximity to the property include Banner Health, Mesa Riverview, Casino Arizona, Mesa Community College, and East Valley Institute of Technology.
The buyer & sellers were represented by ABI Multifamily's Dallin Hammond, Mitchell Drake, and Carson Griesemer.
ABI Multifamily (https://www.abimultifamily.com/) is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. With offices in Phoenix, Tucson, Sacramento, and San Diego, the experienced advisors at ABI Multifamily have completed billions of dollars in sales and thousands of individual multifamily transactions. ABI Multifamily incorporates a global approach with regional real estate expertise to successfully complete any multifamily transaction, regardless of size and complexity.