AZ > Mesa > Heritage Estates
Mesa, AZ 85201,924 N REVERE --
Mesa, AZ 85201,924 N REVERE --
Mesa, AZ 85201,924 N REVERE --
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$880,000
Est. payment /mo
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UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active Under Contract

Purchase Type For Sale

Subdivision Heritage Estates

MLS Listing ID 6894118

Maintenance Fees $872

Year Built 1984

Annual Tax Amount $2,406

Tax Year 2024

Lot Dimensions irr

Source Arizona Regional Multiple Listing Service (ARMLS)

Property Description

Located in the heart of Mesa near the Loop 202 and 101 freeways, and just minutes from Tempe, Cubs Spring Training Stadium, and Mesa Riverview Mall, Four at Riverview presents a compelling investment opportunity. This fully leased fourplex features an ideal unit mix, including one detached three-bedroom, two-bath home and three spacious two-bedroom, two-bath units. Each unit is equipped with in-unit washer and dryer hookups, individual HVAC systems, and a history of thoughtful renovations completed between 2018 and 2020.
Current gross monthly rents total $7,030, with average unit rents of approximately $1,757. However, there's immediate upside potential to increase rental income by an estimated $650 to $1,000 per month as leases turn over or are brought to market rate. Unit 101, the standalone three-bedroom residence, is occupied by long-term tenants paying $2,395 monthly. The unit was remodeled in 2018 and features tile flooring throughout, with a new HVAC system installed in 2023. Unit 102, one of the two-bedroom, two-bath units, was renovated in 2019 and includes updated vinyl flooring, a 2021 HVAC replacement, and a rare enclosed side yard that allows for increased rental value. This type of yard space is uncommon among comparable properties in the area, adding to the unit's appeal.
Unit 201, also remodeled in 2018, rents for $1,345 and features durable vinyl flooring and a washer/dryer. The HVAC was replaced in 2021. Similarly, Unit 202, updated in 2020 and currently renting for $1,445, includes modern finishes, vinyl flooring, and a 2021 HVAC upgrade.
This asset has been held and maintained by the same ownership since 2016, with professional renovations made shortly after acquisition. With all major systems updated, stable in-place tenants, and proven rental history, Four at Riverview offers both strong current cash flow and significant upside potential. Located in one of Mesa's most accessible and desirable submarkets, this fourplex is a turnkey opportunity for any multifamily investor seeking stability, growth, and location.

Location

State AZ

County Maricopa

Community Heritage Estates

Zoning multi

Interior

Heating Individual, Heat Pump, Electric

Cooling Central Air, Electric, Individual

Flooring Carpet, Ceramic Tile, Vinyl

Appliance Free-Standing Range, Other, Disposal, Dishwasher, Refrigerator, Washer/Dryer, W/D Hookup

Exterior

Parking Features 1 Space/Unit, Carport

Community Features No Pool

Roof Type Tile,Built-Up,Foam

Garage Yes

Building

Sewer Public Sewer

Water City Franchise

New Construction No

Schools

School District Mesa Unified District

Others

Senior Community No

Tax ID 135-17-303

Acceptable Financing Owner May Carry, Conventional, FHA, VA Loan

Listing Terms Owner May Carry, Conventional, FHA, VA Loan

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Arizona Regional MLS (ARMLS)

Copyright 2025 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

Listed by Grace CRE

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