For Sale
$778,715

345 ShouseMesa, AZ 85204

15-unit apartment building, prime Mesa location.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a 0.94-acre parcel in Mesa, Arizona, with approved zoning for a 15-unit multifamily development. The property, located at 345 S Shouse St, 85204, boasts a total of 40,985 square feet and is zoned RM-3, City of Mesa. Previously proposed plans included two two-story buildings comprising eleven three-bedroom units averaging 1,624 square feet and four two-bedroom units averaging 1,447 square feet, totaling 34,099 square feet of living space. Ample parking is provided with 38 spaces, including 15 two-car garages, two compact spaces, one ADA-accessible van space, and three guest spaces. The property's strategic location in the Mesa east submarket offers convenient access to major transportation arteries, including Highway 60 (1.8 miles north), Highway 87 (Country Club Rd, 3.3 miles east), and the Loop 202 South Mountain Freeway (less than 10 miles north). Its proximity to Arizona State University (12 miles west), with its substantial student population (140,759 in 2022), presents a strong potential for rental demand. The asking price is $778,715, translating to $19 per square foot. Buyers are responsible for verifying current zoning requirements and building codes. This is a remarkable chance to acquire a well-situated parcel with significant development potential in a thriving Arizona market. The Maricopa County APN is 138-02-115D.

Highlights

  • One-acre raw land in Mesa, AZ, zoned RM-3.
  • Previously proposed for 15 multifamily units (11 three-bedroom, 4 two-bedroom) totaling 34,099 square feet, with 38 parking spaces; buyer to verify current zoning.
  • Excellent Mesa east submarket location near major freeways (Hwy 60, Hwy 87, Loop 202) and ASU.

Property Details for 345 Shouse

Property type
Land, Apartment buildings
Square Feet
40,985 SF
Stories
2
Lot Size (sq. ft)
40,946 SF
Units
15

Location Insight

City
Mesa
County
Maricopa
State
Arizona
Latitude
33.408857
Longitude
-111.789934
345 Shouse, Mesa, Arizona

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345 Shouse
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