1500 E Dana Avenue, Mesa, AZ 85204
- $1,260,000
- Sold Price
- $1,260,000
- List Price
- $1,300,000
- Closing Date
- Apr 22, 2026
- Days on Market
- 2
- Status
- CLOSED
- MLS#
- 7003723
- City
- Mesa
- Year Built
- 1971
Property Description
La Jolla Villas offers a rare opportunity to acquire a partially renovated multifamily asset with both immediate upside and long-term growth potential. Located at 1500 E Dana Ave in Mesa, AZ, the property features 7 garden-style units renovated in 2022, paired with approved site plans for 8 additional 2bed/2bath units on the adjacent parcel, one of the most sought-after unit types in today's rental market. The existing unit mix (1 studio, 1 bed/1bath, 3 2bed/1bath, 1 2bed/1.5bath, and 1 3bed/2bath) provides immediate income stability, while the entitled development component offers a clear path to increased density and long-term value creation.
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Additional Information
- Community Features
- No Pool
- Construction
- Block, Painted
- Cooling
- Central Air, Electric, Varies by Unit
- Electric
- SRP
- Flooring
- Ceramic Tile
- Heating
- Electric, Varies by Unit
- New Financing
- Conventional, 1031 Exchange, Cash
- Parking Features
- >1 Space Per Unit
- Roofing
- Composition
- Taxes
- $1,883
- Tax Year
- 2025
- Tenant Pays
- Electricity
- Units
- 15
- Water
- City Franchise
- Zoning
- RM-2
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Listing courtesy of Orion Investment Real Estate. Selling Office: REI Marketing.
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved.