On the Market: 5 Interesting Listings for the Week of 6/5/17
This week's listings include a charming 1911-built villa in Portland and a lushly landscaped duplex in Los Angeles' Laurel Canyon.
On the Market is a weekly department curating the most interesting recent for-sale CRE assets. If you have a commercial real estate asset that you’d like to share with our readers, please email it to Associate Editor Mallory Bulman.
Park Mesa Apartments
Location:Â Mesa, Ariz.
Price: $3.6 million
Price/Unit: $91,667
Price/SF: $117.02
Units: 42
Features:Â Garden-style units; built in 1984; unit mix of 74 percent two-bedroom and 26 percent one-bedroom units; average unit size of 783 SF; located adjacent to Joseph Reed Park; units individually metered for electricity and hot water; value-add opportunity available upon completion of interior renovations.Â
Contact:Â Rue Bax, ABI Multifamily, 602-714-1406
The Fields Patriot Parkway
Location:Â Rock Hill, S.C.
Units: 106
Year Built: 1994
Rentable SF: 116,876
Avg. Unit Size: 1,103 SF
Features:Â Situated on 9.5 acres; proven value-add opportunity; discount compared to recent trades and replacement cost; rent and additional income growth potential; recent renovations include new roofs, hard-plank siding, a fitness center, dog park and resident lounge.Â
Contact:Â Jason Kon, ARA Newmark, 704-926-4440
The Links at Lincoln
Location:Â Lincoln, Neb.
Units:Â 612
Beds: 1,020
Year Built:Â 2006-2007
Rentable SF:Â 547,748
Avg. Unit Size: 895Â SF
Features: Student housing asset located within miles of University of Nebraska; situated on 103.53 acres and surrounded by a golf course; lease includes membership to course and unlimited golf; amenities include a clubhouse, business center, pools and sauna; each unit has a full-size washer and dryer; currently 98 percent occupied.Â
Contact:Â Ryan Lang, ARA Newmark, 512-637-1296
Villa Serena
Location:Â Portland, Ore.Â
Units:Â 21
Price: $3.9 million
Price/Unit: $188,095.24
Building Size:Â 9,184 SF
Year Built: 1911
Features:Â Two-story asset with basement; unit mix consists of 16 studios and 5 commercial offices; tenants have option of renting fully furnished units; furnished units come with beds, linens, dressers, appliances, artwork, TVs, cookware and utensils; units individually metered for heat and air conditioning; location boasts 96 walk score and 97 bike score.Â
Contact:Â Greg Frick, HFO Investment Real Estate, 503-241-5541
Mannix Drive Duplex
Location:Â Los Angeles, Calif.Â
Units:Â 2
Price: $1.5 million
Price/Unit: $747,500
Building Size: 2,025Â SF
Year Built: 1966
Features:Â Located in Laurel Canyon; comprised of two separate homes on one lot; one house is a three-bedroom/two bath and the other has one-bedroom and one bath with bonus unit; larger house rents for $3,850/month and the smaller rents for $3,000/month; one common garage with space for three vehicles; outdoors have lush landscaped gardens and a path connecting the residences; located minutes from Sunset Strip and one block from the Canyon Country Market and Pace Restaurant.
Contact:Â Mason Canter, KW Commercial, 310-722-3161
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