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924 N REVERE, Mesa, AZ 85201
Overview
Description
Supplements: ... (Read more) 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.
Listing Details MLS# 6894118
Location, Tax & Legal
- House Number
- 924
- Compass
- N
- Street Name
- REVERE
- St Suffix
- --
- City/Town Code
- Mesa
- State/Province
- AZ
- Zip Code
- 85201
- Zip4
- 3976
- Country
- US
- County Code
- Maricopa
- Subdivision
- HERITAGE ESTATES
- Assessor Number
- 135-17-303
- Tax Year
- 2024
- Assessor's Map #
- 17
- Legal Description (Abbrev)
- LOT 7 HERITAGE ESTATES MCR 024706
- Assessor's Parcel #
- 303
- Add'l Parcels
- No
- Tax Municipality
- Mesa
- Census Tract
- 421102
- Taxes
- 2406
- Legal
- LOT 7 HERITAGE ESTATES MCR 024706
- Marketing Name
- Four on Revere
Contract Info
- Ownership
- Fee Simple
General Property Description
- Lot Size Dimensions
- irr
- Year Built
- 1984
- Uncvrd Parking Spcs
- Yes
- Total # of Units
- 4
- # of Buildings
- Yes
- Zoning
- multi
- Elementary School District
- Mesa Unified District
- High School District
- Mesa Unified District
Remarks Misc
- Cross Street
- Alma School & Rio Salado
Status Change Info
- Off Market Date
- 2025-08-11
- Under Contract Date
- 2025-07-17
- Close of Escrow Date
- 2025-08-11
Legal Info
- Township
- 1N
- Range
- 5E
- Section
- 16
- Lot Number
- 7
More Information
Income Expenses
- Gross Annual Sch Inc
- 84804
- Net Operating Income
- 70762
Showing Notification Methods
- Showing Service
- Aligned Showings
2 Bedroom Units
- # 2 Bedroom Units
- 3
- Avg Rent
- 1516
- # Baths
- 2
3 Bedrooms Units
- # 3 Bedroom Units
- Yes
- Avg Rent
- 2395
- # Baths
- 2
Sold Info
- Loan Type
- Conventional
- Payment Type
- Fixed
- Closing Cost Split
- Seller Assist - A
- Buyer Concession $/%
- %
- Seller Concession to Buyer
- 2500
- Seller Concession $/%
- $
- Buyer Concession to Seller
- 0
Project Type
- Four Plex
- Yes
Construction
- Block
- Yes
- Wood Frame
- Yes
Const - Finish
- Painted
- Yes
- Stucco
- Yes
Roofing
- Built-Up
- Yes
- Tile
- Yes
- Foam
- Yes
Floors
- Vinyl
- Yes
- Ceramic Tile
- Yes
- Carpet
- Yes
Sale Includes
- Land & Building
- Yes
- Personal Property
- Yes
- Other (See Remarks)
- Yes
Income & Expenses
- Annual Elec Exp
- 0
- Annual Gas Exp
- 0
- Annual Ins Exp
- 2309
- Annual Land Lse Exp
- 0
- Annual Landscape Exp
- 3276
- Annual Legal & Acctg
- 0
- Annual Maint Exp
- 872
- Annual Mgmt Exp
- 0
- Annual Trash Exp
- 0
- Annual Wtr/Swr Exp
- 3483
- Owner Association
- No
- Annual Ownr Asoc Fee
- 0
- Annual PAD Fee
- 0
- Annual Rplcmnt Rsrvs
- 0
- Annual Other Expense
- 0
- Operating Exp
- 12346
- Other Income
- 0
- Vacancy Allowance
- 0.02
- Adjusted Gross Inc
- 83107.92
Pmt & Rate Info
- Cap Rate
- 8.04
- Down Payment
- 0
- Equity
- 880000
- Down Payment %
- 0
- Monthly Payments
- 0
- Total Owed
- 0
- Assessment Balance
- 0
Lockbox Type
- None
- Yes
Community Features
- No Pool
- Yes
Heating
- Heat Pump
- Yes
- Electric
- Yes
- Individual
- Yes
Cooling
- Central Air
- Yes
- Electric
- Yes
- Individual
- Yes
Exterior Amenities
- Green Landscaping
- Yes
- Partially Fenced
- Yes
- Cable TV Available
- Yes
Interior Features
- Unfurnished
- Yes
Tenant Pays
- Electricity
- Yes
- Cable TV
- Yes
Appliances Included
- Dishwasher
- Yes
- Disposal
- Yes
- Refrigerator
- Yes
- Free-Standing Range
- Yes
- Washer/Dryer
- Yes
- W/D Hookup
- Yes
- Other
- Yes
Road Surface Type
- Asphalt
- Yes
Source of Fincl Data
- Owner
- Yes
- Projected Proforma
- Yes
Water Source
- City Franchise
- Yes
Sewer
- Sewer - Public
- Yes
Parking Features
- Garage
- Yes
- Carport
- Yes
- 1 Space/Unit
- Yes
Electric
- SRP
- Yes
Gas
- None
- Yes
Owner Pays
- Water
- Yes
- Sewer
- Yes
- Trash Collection
- Yes
- Landscaping
- Yes
New Financing
- VA
- Yes
- Conventional
- Yes
- FHA
- Yes
- Owner May Carry
- Yes
Existing 1st Loan
- Treat as Free&Clear
- Yes
Existing 1st Loan Type
- Not Applicable
- Yes
Existing 1st Loan Terms
- Not Applicable
- Yes
Existing 2nd Loan
- Treat as Free&Clear
- Yes
Existing 2nd Loan Type
- Not Applicable
- Yes
Existing 2nd Loan Terms
- Not Applicable
- Yes
Existing 3rd Loan
- Treat as Free&Clear
- Yes
Existing 3rd Loan Type
- Not Applicable
- Yes
Reports/Disclosures
- Seller Prop Disc Stm
- Yes
Existing 3rd Loan Terms
- Not Applicable
- Yes
Environmental
- None
- Yes
Existing Othr Ln Trm
- Not Applicable
- Yes
Efficiency Units
- Avg Rent
- 0
1 Bedroom Units
- Avg Rent
- 0
4 Bedrooms Units
- Avg Rent
- 0
Property Features