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1432 E Broadway
Mesa, AZ 85204
Multifamily Property For Sale
·
10 Units
INVESTMENT HIGHLIGHTS
- 10 Units, Built in 1971, Fully Renovated in 2023, Garden-Style Property
- Fully Renovated Through Interior & Exterior Renovations
- Individually Metered for Electricity
- 80% 2-Bedroom / 1-Bathroom & 20% 1-Bedroom / 1-Bathroom Units
- Private Backyard & Storage for Each Unit
- Located in Downtown Mesa
EXECUTIVE SUMMARY
Broadway is a fully renovated, 10-unit garden-style multifamily property located in the heart of Downtown Mesa—one of the fastest-growing submarkets in the East Valley. Completed in 2023, the renovation encompassed both the interior and exterior of the property, delivering a truly turnkey investment opportunity. The community features a desirable unit mix of 80% two-bedroom, one-bath units and 20% one-bedroom, one-bath units, catering to a wide demographic of tenants seeking quality housing in a central location.
The interior finishes reflect a modern, high-demand aesthetic with wood-style vinyl plank flooring, fresh paint, sleek gray cabinetry, marbled countertops, and stainless steel appliances. Each unit includes private backyard space and individual storage—premium amenities rarely found in similar-sized properties. The bathrooms and hardware have been fully refreshed with contemporary fixtures, while smart upgrades like individual electric metering further streamline operating expenses and enhance NOI potential.
Located near transit, dining, and retail corridors, Broadway benefits from the ongoing revitalization of Downtown Mesa and its strong tenant demand. With its combination of high-quality renovations, efficient unit layouts, and excellent location, Broadway is positioned to deliver both immediate cash flow and long-term appreciation. It’s an ideal opportunity for investors seeking a stabilized, low-maintenance asset in a dynamic, growth-oriented market.
The interior finishes reflect a modern, high-demand aesthetic with wood-style vinyl plank flooring, fresh paint, sleek gray cabinetry, marbled countertops, and stainless steel appliances. Each unit includes private backyard space and individual storage—premium amenities rarely found in similar-sized properties. The bathrooms and hardware have been fully refreshed with contemporary fixtures, while smart upgrades like individual electric metering further streamline operating expenses and enhance NOI potential.
Located near transit, dining, and retail corridors, Broadway benefits from the ongoing revitalization of Downtown Mesa and its strong tenant demand. With its combination of high-quality renovations, efficient unit layouts, and excellent location, Broadway is positioned to deliver both immediate cash flow and long-term appreciation. It’s an ideal opportunity for investors seeking a stabilized, low-maintenance asset in a dynamic, growth-oriented market.
PROPERTY FACTS
| Price Per Unit | $321,062 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.50 AC |
| Cap Rate | 5.87% | Building Size | 7,150 SF |
| Gross Rent Multiplier | 17 | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1971/2023 |
| Property Subtype | Apartment | Parking Ratio | 1.82/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R-4, Mesa - Medium Density Multifamily | ||
| Price Per Unit | $321,062 CAD |
| Sale Type | Investment |
| Cap Rate | 5.87% |
| Gross Rent Multiplier | 17 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.50 AC |
| Building Size | 7,150 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1971/2023 |
| Parking Ratio | 1.82/1,000 SF |
| Zoning | R-4, Mesa - Medium Density Multifamily |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | $2,042 CAD | 575 |
| 2+1 | 8 | $2,164 CAD | 750 |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 CAD | |
| Land Assessment | $0 CAD | Total Assessment | $45,624 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$45,624 CAD
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