5/3/2009

Mesa multi-family commands $9.21M

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A limited liability company has sold a 114,320-square-foot apartment complex in Mesa, Ariz., for $9.21 million.

Taylor Shultz, an investment specialist in Marcus & Millichap's Phoeniz office, represented the seller in the transaction.

Known as Colores Del Sol, the property is located at 510 East McKellips Rd., on 5.78 acres and was built in 2000. It is comprised of 120 units with a mix of one, two and three-bedroom apartments. The complex was 90 percent occupied at the time of the sale.

Address: 510 East McKellips Rd., Mesa, Ariz.

Size: 114,320 square feet

Built: 2000

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Filed Under: Multi-Family

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