INVESTMENT OPPORTUNITY - Woodstream in Mesa
Woodstream Village is our 46th acquisition, and our eighth acquisition in Mesa, Arizona. The investment presents an opportunity to double your equity by investing in a cash-flowing property in one of North America's strongest real estate markets. Western Wealth Capital believes investors in Woodstream Village could realize annualized returns as high as 19% and up to 100% of equity returned within four years.
Mesa is the second largest city in Metro Phoenix and has a vacancy rate more than 1% lower than the average Metro Phoenix vacancy rate. To learn more about how we choose a market and why we continue to choose Mesa, click on the button below to view our 'Why Mesa?' overview.
- Woodstream Village is 2-miles north of Downtown Mesa, 10-miles east of Tempe, and just 10-miles from Old Town Scottsdale - providing countless recreational and employment opportunities.
- Conveniently located near the METRO light rail, the Loop 202 and the US-60 for easy access to every city in the Metro Phoenix area. In addition to this, there are local city parks and a consolidated 18-mile long canal path adjacent to Woodstream Village for ample opportunity to experience recreational activities.
- The property is just 3 miles from Mesa Riverview (1.3 million sf of retail space) and 6 miles from Tempe Marketplace (1.3 million sf of retail space).
- Western Wealth Capital properties located in Mesa have a proven track record of successful returns. With growth in the submarket projected to continue and the implementation of WWC's value-add program, Woodstream Village has the potential to achieve these same strong results.
- High rental demand for the North Mesa market - there has been 3.48% growth rate last year alone.
- Low vacancy rate in the submarket. The Metro Phoenix vacancy rate average is 5.86%, and Mesa sits well below this with a vacancy rate of 4.57%. Occupancy at Woodstream is strong at 95%.
- With an 11.1% population growth rate projected between 2010-2022 (City of Mesa, 2018), Mesa is one of the fastest growing cities in Phoenix.
- Mesa will invest $10 Million into expanding the Elliot Road Tech Corridor, dubbed the next Tech Hub in Phoenix, and home to a $2 billion Apple “command center”.
- The current owners are operating with signiﬁcant disparity between rents of like-units across the property. The average rent disparity across all units (1 BD & 2 BD) at Woodstream is $150 p/m.
- Western Wealth Capital intends to reduce that disparity using our proven lease management approach.
- These actions have the potential to increase the value of the asset by approximately $5.6 million, simply by normalizing and bringing rents to market.
- The majority of units at Woodstream Village still retain their 1980's interior fittings, making the units the ideal candidate for our Gold Star interior upgrades.
- Western Wealth Capital plans to complete interior upgrades to 100 of the 156 units at Woodstream. We have modeled a projected $150 per month per unit increase in rental income for upgraded units.
- These Gold Star Interior Upgrades have the potential to increase the value of the asset by approximately $3.6 million.