$4,975,000

Description

152 N 56th Street is a rare opportunity to acquire a 78 unit, ±61,969 SF building on 1.79 acres in the heart of East Mesa. Formerly Copper Heights Assisted Living, the vacant property is zoned R-5, permitting high density multifamily use. Offered in shell condition following interior demolition by prior ownership, the asset provides a clean canvas to reposition as multifamily housing, assisted living, behavioral health, memory care, or other compatible residential use. The two story building over a full basement features 78 units (30 one bedrooms and 48 studios) with private bathrooms, two large recreation and dining areas, partially intact basement commercial kitchen infrastructure, and rooftop solar. The site's expired Special Use Permit for licensed assisted living provides meaningfu precedent for a new SUP. Located in a rapidly growing East Mesa corridor with strong senior population growth and sustained rental demand, this is a rare large scale repositioning opportunity in one of Arizona's most supply constrained submarkets.