1861 N SPRING, Mesa, AZ 85203

$749,999
Property Type: Multiple Dwellings Status: Active
Current Price: $749,999 Last Modified: 6/23/2026

Overview

Description

Investment Opportunity! Turnkey 4-plex generating strong rental income in a highly desirable Mesa location. This fully occupied multifamily property features four 2-bedroom, 1-bath units, each approximately 867 square feet. Current rents provide immediate cash flow with additional upside potential through future rent growth and value-add improvements. Two units have been updated, while the remaining units offer opportunities to increase returns. Property features individually metered units, granite countertops in select units, and a newer A/C unit. Conveniently located near shopping, dining, schools, and major freeways, this asset is ideal for investors seeking stable income and long-term appreciation. Add this cash-flowing property to your portfolio today!

Listing Details MLS# 7045584

Location, Tax & Legal

House Number
1861
Compass
N
Street Name
SPRING
St Suffix
--
City/Town Code
Mesa
State/Province
AZ
Zip Code
85203
Zip4
9605
Country
US
County Code
Maricopa
Subdivision
NORTH MESA VILLAGE
Assessor Number
136-24-125
Tax Year
2025
Assessor's Map #
24
Legal Description (Abbrev)
LOT 21 NORTH MESA VILLAGE MCR 024250
Assessor's Parcel #
125
Add'l Parcels
No
Tax Municipality
Mesa
Census Tract
420503
Taxes
1483
Legal
NORTH MESA VILLAGE MCR 242-50
Marketing Name
N/A

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
6970
Year Built
1984
Uncvrd Parking Spcs
4
Total # of Units
4
# of Buildings
Yes
Zoning
Multi
Flood Zone
TBD
Elementary School District
Mesa Unified District
High School District
Mesa Unified District

Remarks Misc

Cross Street
Mckellips and Mesa Dr. south to Julep east to Spr

Legal Info

Township
1N
Range
5E
Section
11
Lot Number
21

Income Expenses

Gross Annual Sch Inc
70620
Net Operating Income
55977

More Information

Showing Notification Methods

Showing Service
Aligned Showings
Text
Yes
Email
Yes
Phone Call
Yes

1 Bedroom Units

# 1 Bedroom Units
2
Avg Rent
1400
Avg SqFt
867
# Baths
Yes

2 Bedroom Units

# 2 Bedroom Units
2
Avg Rent
1485
Avg SqFt
867
# Baths
Yes

3 Bedrooms Units

# 3 Bedroom Units
2
Avg Rent
1400
Avg SqFt
867
# Baths
Yes

4 Bedrooms Units

# 4 Bedroom Units
2
Avg Rent
1487
Avg SqFt
867
# Baths
Yes

Project Type

Four Plex
Yes

Construction

Wood Frame
Yes

Const - Finish

Painted
Yes

Roofing

Composition
Yes

Floors

Wood
Yes

Sale Includes

Land & Building
Yes

Income & Expenses

Annual Wtr/Swr Exp
4831
Owner Association
Yes
Annual Ownr Asoc Fee
1824
Operating Exp
8138
Other Income
0
Vacancy Allowance
0
Adjusted Gross Inc
70620

Pmt & Rate Info

Cap Rate
7.46
Equity
749999
Down Payment %
0
Monthly Payments
0
Total Owed
0

Lockbox Type

None
Yes

Community Features

No Pool
Yes

Heating

Electric
Yes

Cooling

Electric
Yes

Tenant Pays

Electricity
Yes

Appliances Included

Dishwasher
Yes
Refrigerator
Yes
Free-Standing Range
Yes
W/D Hookup
Yes

Road Surface Type

Asphalt
Yes

Source of Fincl Data

Projected Proforma
Yes

Water Source

City Franchise
Yes

Sewer

Sewer - Public
Yes

Parking Features

1 Space/Unit
Yes

Electric

SRP
Yes

Gas

None
Yes

Owner Pays

Water
Yes
Sewer
Yes
Trash Collection
Yes

New Financing

Cash
Yes
VA
Yes
Conventional
Yes
FHA
Yes

Reports/Disclosures

None
Yes

Environmental

None
Yes

Efficiency Units

Avg Rent
0

Property Features

Project Type: Four Plex Construction: Wood Frame Const - Finish: Painted Roofing: Composition Floors: Wood Sale Includes: Land & Building Community Features: No Pool Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; W/D Hookup Cooling: Electric Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: None Parking Features: 1 Space/Unit Road Surface Type: Asphalt Owner Pays: Water; Trash Collection Tenant Pays: Electricity Source of Fincl Data: Projected Proforma Showing Notification Methods: Text; Email; Phone Call Lockbox Type: None New Financing: Cash; VA; FHA; Conventional Environmental: None
IDX
Listing Office: My Home Group Real Estate
Last Updated: June - 23 - 2026
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