A private investor operating as Valleywide Apartments LLC has acquired the 80-unit 454 West Apartments located at 454 W. Brown Rd. in Mesa, AZ for $3 million, or $37,500 per unit, from Royal Bank of Canada in an REO sale.
The property was constructed in 1972 in the Mesa East submarket of Maricopa County. The multifamily building is comprised of two-bedroom units that rent for $649 a month.
Ric Holway, Art Wadlund, and Dan Cheyne of Hendricks & Partners represented the seller. Greg Thielen, also with Hendricks & Partners, represented the buyer.
For more information on this transaction, please see CoStar COMPS #2221717.