Off-Market STR in NE Mesa, AZ for Sale - Completely Turn-Key, Furnished, w/ Bookings

[Gabriel Graumann]

Greetings,

I own a turn-key STR investment in NE Mesa, AZ that my partner and I are contemplating selling. In summary, it's a 1,950 +/- sf single-level house in a nicer non-HOA community. It has 3 bedrooms, 2 bathrooms + bonus media room with a triple bunk that sleeps a total of 9 people. We purchased and completely renovated the property, inside and out, in September 2022. Heated pool, hot tub, large putting green, indoor/outdoor living spaces, bonus media room with arcades, and all furniture and appliances were new as of the fall of 2022. The house is fully decked out and it would convey fully furnished of course, along with any bookings in place at time of sale. Professionally managed for 18% by a local management company with around 60-70 properties in their portfolio (but no requirement to retain them). Currently one of the highest rated STR's on VRBO with 20+ 5-star reviews and a 99% score rating.

The property is nearing the 1.5 year mark on the bookings market, with an estimated 10-12% increase in peak 2024-2025 rates. There may be the potential for keeping in-place financing for the property, but it would depend on borrower strength and a conversation with the lender, but no requirement to do so. Straight, traditional sale. No owner financing or "subject to" offers please. Market for this layout, non-renovated and non-furnished STR home in the neighborhood comps in the $600-630K range. We would entertain a price in the $680-700K based on terms of the deal and closing date, and what booking income conveys at sale. We have item list for everything in the property, receipts for renovation, and all the financials that you would need to analyze the deal. Message if interested.