Active

850 N MERIDIAN Road

Apache Junction AZ, 85120

$3,549,000


Active

Other

Built in 1987

Meridian 21 is a single-story complex with solid block construction.
All the units are 2-bedroom / 1-bathroom units, with individual A/C
units, water heaters, and electric meters. The property features plenty
of parking and an interior courtyard space, as well as landlord owned
onsite coin laundry. The units have been well maintained and updated
over the years. Value-add options exist through adding fences to give
units private outdoor space, as well as through additional interior /
exterior upgrades, and adding interior washers and dryers. Meridian 21 is a 21-unit apartment complex located in Apache
Junction, just east of Mesa, AZ. The property is well located, just
minutes from a large commercial complex featuring Walmart
Supercenter, Planet Fitness, Safeway, and more. It is approximately 3 miles east of Loop 202 and 3 miles north of Interstate 60. This part of the valley is known for its natural desert beauty, mountain views, and easy access to outdoor and recreational activities. With limited nearby competition this property has maintained a high level of historical occupancy.
The southeast valley continues to be a highly sought after area for
residents with its many freeway access points and many commercial / retail options. Given the lack of inventory in the area, Meridian 21 should prove to be a great multifamily property for an investor looking for a solid performing, bite-sized opportunity in a good, supply constrained submarket.

6708526

MLS ID

May 21, 2024

Listed

July 13, 2024

Updated

Map

850 N MERIDIAN Road
Apache Junction AZ, 85120

Interior Features

Floor Description

Other


Fireplace

No


Cooling

Yes


Cooling Description

See Remarks


Heating

Yes


Heating Description

See Remarks

Exterior/Building Features

Roof

See Remarks, Composition


Sewer

Other, Septic Tank

School Information

School District

Mesa Unified District

Other Property Details

Taxes

$6,323


Tax Frequency

Annually


Garage

No


Parking

Other (See Remarks), Paved Parking


Parking Total

46


View

No


County

Maricopa


Water Source

City Franchise


Pool

No


Zoning

R3


Buyer Agency Compensation

2%

Courtesy of ABI Multifamily

Listing Contact: 602-639-0088 

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 Goddes Homes shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

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Data Last Updated: 5:55 PM UTC, 7/13/2024.

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