Properties
Mesa, AZ 85204 1500 E Dana Avenue
$1,300,000
Pending
6 more
Presented By: Orion Investment Real Estate; 480-634-6934
Home Details
La Jolla Villas offers a rare opportunity to acquire a partially renovated multifamily asset with both immediate upside and long-term growth potential. Located at 1500 E Dana Ave in Mesa, AZ, the property features 7 garden-style units renovated in 2022, paired with approved site plans for 8 additional 2bed/2bath units on the adjacent parcel, one of the most sought-after unit types in today's rental market. The existing unit mix (1 studio, 1 bed/1bath, 3 2bed/1bath, 1 2bed/1.5bath, and 1 3bed/2bath) provides immediate income stability, while the entitled development component offers a clear path to increased density and long-term value creation.
Presented By: Orion Investment Real Estate; 480-634-6934
Interior Features for 1500 E Dana Avenue
Bathrooms
Total Baths
Other Interior Features
Air Conditioning Y/NYes
FlooringTile, Laminate, Ceramic Tile
Heating Y/NYes
General for 1500 E Dana Avenue
Additional Parcels Y/NYes
Attached Garage No
Cap Rate6.71
Carport Y/NNo
CityMesa
Community FeaturesNo Pool
Construction MaterialsPainted, Block
CoolingCentral Air, Electric, Individual
CountyMaricopa
DirectionsFrom the intersection of Stapley Dr & Main St, head south on Stapley, turn left onto Dana St. Property is on your left.
DisclosuresNone
ElectricSRP
Garage Y/NNo
Gross Income116340.0
HeatingIndividual, Electric
Lease Considered Y/NNo
Lease Renewal Y/NNo
MobileHomeRemainsYNNo
Net Operating Income87255.0
New ConstructionNo
New Financing: CashTrue
New Financing: ConventionalTrue
Number Of Units Total15
Open Parking Spaces14.0
Operating Expense1883.97
OwnerPaysTrash Collection, Water, Sewer
OwnershipFee Simple
OwnershipFee Simple
Property TypeMultiple Dwellings
Rent Control Y/NNo
RoofComposition
Senior CommunityN
SewerPublic Sewer
Standard StatusPending
StatusPending
Tax Annual Amount1883.97
Tax Lot8
Tax Year2025
Year Built1971
ZoningRM-2
Exterior for 1500 E Dana Avenue
Covered Spaces0.0
Crops Included Y/NNo
Irrigation Water Rights Y/NNo
Lot Dimensions148x314
Number of Buildings2
Parking Features>1 Space Per Unit
Road Surface TypeAsphalt, Gravel
SpaNo
Total Parking14.0
Water SourceCity Franchise
Additional Details
Price History
