430 W 3rd St., Mesa, AZ

Built in 1959, Country Club Terrace features solid block construction and attractive mid-century architecture. The building contains 12 units with (11) large 1-bed/1-bath units and (1) 2-bed/1-bath unit. The 1-bedroom units feature spacious floor plans averaging over 700 SF. The property is master metered for electricity, but each unit has its own HVAC system, many of which are very efficient mini-split systems to help keep cost down. The units are clean and well-maintained and operating with very little vacancy. However, the property still offers a phenomenal value-add opportunity through interior and exterior renovations/updating.... A new owner could push rents as-is or could really push rents significantly with a full property remodel given the location and vintage quality of the building. Nicely remodeled, quaint, mid-century properties are becoming more and more popular these days and offer tenants a nice and more affordable alternative to the larger, class A buildings being built in these downtown areas. This opportunity offers an investor a nice, bite-sized deal in a great location with a lot of upside. Significant employers in the area include Banner Health, the City of Mesa, Boeing, and Drivetime Automotive Group. Mesa continues to be one of the most sought after submarkets for multifamily residential investments with its proximity to one of the nation's largest universities, ASU (both at the Mesa Campus and the main Tempe campus approximately 4.5 miles to the west), its tremendous employment opportunities, and its convenient, centralized location in the heart of the metroplex. Country Club Terrace is a fantastic 12-unit value-add opportunity located in the heart of Mesa, AZ. The property is located just west of Country Club, north of Main Street, and is less than half a mile from the nearest light rail station. It is across the street from the border of what is considered the core of Downtown Mesa with Mesa Arts Center, Mesa Convention Center, and Mesa City Hall all being within walking distance. Arizona State University's Downtown Mesa Campus is well underway with ASU @ Mesa City Center and The Plaza @ Mesa City Center also less than a mile away. Downtown Mesa is also home to many cultural activities and museums such as Arizona Museum of Natural History, Mesa Contemporary Arts, and the i.d.e.a Museum all within walking distance of the property. Pioneer Park is also about 5 minutes away (under 2 miles) where there are great community activities such as the weekly Mesa Farmers Market & Flea. Downtown Mesa is quickly becoming a hotspot for activity with many new restaurants, boutique hotels, retail, and mixed-use residential developments happening. This property is incredibly well-located and allows residents to enjoy, with ease, so much of what Mesa has to offer. With easy access to the light rail and freeway access within minutes, residents will have the ability to get to all parts of the metroplex with ease. Because of all of these things, Downtown Mesa is rapidly growing and evolving to be a hotspot for activity and an incredibly desirable area for people to live and work.