MESA, Ariz., – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Sunset Mesa, a 40-unit apartment property located in Mesa, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $6,100,000 ($152,500 per unit).
“Located in the heart of central Mesa with nearby access to Main Street, residents enjoy the local eateries and retail boutiques, as well as the convenience to the Light Rail,” shared Darrell Moffitt, senior vice president investments in Marcus & Millichap’s Phoenix office. “Sunset Mesa is well positioned for sustained long-term desirability and rental growth. Moffitt and Paul Bay, first vice president investments in the firm’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, another private investor, was procured by Moffitt and Bay.
Built in 1983, Sunset Mesa consists of 40 units including 19 one-bedroom/one-bath units, eight two-bedroom/one-bath units and 13 three-bedroom/one-bath units. The community has a courtyard style including a pool and laundry facilities along with large interior amenity space. Sunset Mesa is located at 237 South Ashland in Mesa, Arizona.