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
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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