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.