6547 E MAIN Street

Mesa, AZ, 85205

$3,325,000

$3,325,000
Active
Active
 - For Sale
property_type
Multi-family
calendar
Built 1940
The Circle RB Lodge is an 18 unit motel with a manager unitand 8 RV / trailer parking spots (5 RV / trailers are ownedand included in the sale) located in the east submarket ofMesa, Arizona. The property is located approximately 8 milesdirectly east of Downtown Mesa via Main Street where a varietyof cultural activities and museums are readily available whichincludes the Mesa Arts Center, Arizona Museum of NaturalHistory, Mesa Contemporary Arts Museum, and the i.d.e.aMuseum. It is also 20 minutes away from two different Mesaspring training parks that bring a ton of seasonal activity tothe area. The property is well located in east Mesa with easyaccess to all parts of the Metroplex, being surrounded by majorthoroughfares such as the Loop 202 (4 miles to the north and.3.5 miles to the east) and Highway 60 (2 miles to the south). Superstition Springs Mall and Mesa Pavilions are also both minutes away where the nucleus of dining and shopping exists for the east Mesa area. The property exhibits popular southwestern style and charm with tons of open space, and a quaint, quiet feel. The project is on 1.76 +/- acres of land and has been operated as a monthly rental and performs well. Value-add opportunities exist through interior renovations as well as through potentially adding units to the RV portion of the property. Prospective investors could continue to operate it as-is or convert to more marketrate apartments. A future redevelopment play is also an option given the large land size and redevelop the site entirely in the future. This property has many different options and is a strong performer with solid in-place financials. Mesa continues to be one of the most sought-after submarkets for new multifamily residential and mixed-use development with its proximity to one of the nation's largest universities, its tremendous employment opportunities, and its convenient, centralized location in the heart of the metroplex.
MLS® ID:
6426617
Updated:
8/17/22

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Cooling
Other
Heating
Other

Exterior/Building Features

Roof
Other (See Remarks)
Sewer
Other (See Remarks)

School Information

High School
004 - Mesa Unified District
Elementary School
004 - Mesa Unified District

Other Property Details

Taxes
$14224
Tax Frequency
per YEAR
Garage
No
Parking
Carport, Other (See Remarks)
View
N
County
Maricopa
Water Source
Other
Pool
No
Zoning
LC

Property History

Date
Event
Price
Value
7/8/22
Price Change
$3,325,000
-5%

 

Courtesy of ABI Multifamily

All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Denise Hurd shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

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Data Last Updated: 1:37 AM UTC, 8/17/22.

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