924 N Revere --, Mesa, AZ 85201
- $880,000
- Sold Price
- $880,000
- List Price
- $880,000
- Closing Date
- Aug 11, 2025
- Days on Market
- 25
- Status
- CLOSED
- MLS#
- 6894118
- City
- Mesa
- Subdivision
- Heritage Estates
- Year Built
- 1984
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.
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Additional Information
- Community Features
- No Pool
- Construction
- Block, Wood Frame, Painted, Stucco
- Cooling
- Central Air, Electric, Varies by Unit
- Electric
- SRP
- Flooring
- Ceramic Tile
- Heating
- Electric, Heat Pump, Varies by Unit
- New Financing
- VA Loan, FHA, Conventional, Owner May Carry
- Parking Features
- 1 Space/Unit, Carport
- Roofing
- Tile, Built-Up, Foam
- Subdivision
- Heritage Estates
- Taxes
- $2,406
- Tax Year
- 2024
- Tenant Pays
- Electricity, Cable TV
- Units
- 4
- Water
- City Franchise
- Zoning
- multi
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Listing courtesy of Grace CRE. Selling Office: HomeSmart.
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved.