ABI Multifamily brokers 42-unit East Mesa townhome rental community for $20 million

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Casa Sole Vita Townhomes
ABI Multifamily announced the $20,000,000 sale of Casa Sole Vita Townhomes, a 42-unit multifamily apartment community in Mesa, Arizona

ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $20,000,000 / $476,190 Per Unit / $337.72 per square foot sale of Casa Sole Vita Townhomes, a 42-unit multifamily apartment community located at 529 South Hawes Road, Mesa, Ariz. 85208. The ABI Multifamily Phoenix-based Institutional Apartment Group – Alon Shnitzer, Rue Bax, Eddie Chang, and Doug Lazovick – represented the buyer in this transaction.

The buyer is based in California and the seller is based in Arizona.

Completed in 2019, the Casa Sole Vita Townhomes features an attractive mix of 42 two-story townhome units consisting of a combination of 3-Bed / 2.5-Bath and 4-Bed / 3-Bath units with a weighted average of 1,503 square feet. Unit amenities include: Two-car garage, granite countertops, washer / dryer, and designer ceramic tiling.

The property is in the East Mesa submarket of the Phoenix MSA with direct access to all areas of the valley by way of Loop 202 Freeway (Red Mountain Freeway) and US Highway 60 (Superstition Freeway). Immediate neighborhood conveniences and services include Fry’s Food and Drug, CVS Pharmacy, Walgreens Pharmacy, Costco Wholesale, and Target. Local area amenities and services include the Banner Desert Medical Center, Arizona Golf Resort & Event Center, and The Dreamland Villa Desert Nature Trail. Furthermore, the property lies just 10 minutes away from the Superstition Springs Center, a 912,000 square foot shopping mall featuring more than 150 stores, restaurants, and services anchored by key tenants such as JCPenney, Dillard’s, Macy’s, and the Cheesecake Factory.