924 N REVERE, Mesa, AZ 85201

$880,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $880,000 Last Modified: 2/02/2026

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.

Supplements: 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.

More Information MLS# 6894118

Contract Info

Ownership: Fee Simple Current Price: $880,000 Sold Price: $880,000 Status: Closed List Date: 2025-07-17

Location, Tax & Legal

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 House Number: 924 Compass: N Street Name: REVERE St Suffix: -- City/Town Code: Mesa State/Province: AZ Zip Code: 85201 Zip4: 3976 County Code: Maricopa Subdivision: HERITAGE ESTATES Assessor Number: 135-17-303 Tax Year: 2024

General Property Description

# of Buildings: 1 Uncvrd Parking Spcs: 1 Lot Size Dimensions: irr Total # of Units: 4 Elementary School District: Mesa Unified District High School District: Mesa Unified District Year Built: 1984 Zoning: multi

Legal Info

Range: 5E Section: 16 Township: 1N Lot Number: 7

Project Type

Four Plex: 1

Construction

Block: 1 Wood Frame: 1

Const - Finish

Painted: 1 Stucco: 1

Roofing

Built-Up: 1 Tile: 1 Foam: 1

Floors

Vinyl: 1 Ceramic Tile: 1 Carpet: 1

Sale Includes

Land & Building: 1 Personal Property: 1 Other (See Remarks): 1

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

Showing Notification Methods

Showing Service: Aligned Showings

Lockbox Type

None: 1

Community Features

No Pool: 1

Heating

Heat Pump: 1 Electric: 1 Individual: 1

Cooling

Central Air: 1 Electric: 1 Individual: 1

Exterior Amenities

Green Landscaping: 1 Partially Fenced: 1 Cable TV Available: 1

Interior Features

Unfurnished: 1

Tenant Pays

Electricity: 1 Cable TV: 1

Appliances Included

Dishwasher: 1 Disposal: 1 Refrigerator: 1 Free-Standing Range: 1 Washer/Dryer: 1 W/D Hookup: 1 Other: 1

Road Surface Type

Asphalt: 1

Source of Fincl Data

Owner: 1 Projected Proforma: 1

Water Source

City Franchise: 1

Sewer

Sewer - Public: 1

Parking Features

Garage: 1 Carport: 1 1 Space/Unit: 1

Electric

SRP: 1

Gas

None: 1

Owner Pays

Water: 1 Sewer: 1 Trash Collection: 1 Landscaping: 1

New Financing

VA: 1 Conventional: 1 FHA: 1 Owner May Carry: 1

Existing 1st Loan

Treat as Free&Clear: 1

Existing 1st Loan Type

Not Applicable: 1

Existing 1st Loan Terms

Not Applicable: 1

Existing 2nd Loan

Treat as Free&Clear: 1

Existing 2nd Loan Type

Not Applicable: 1

Existing 2nd Loan Terms

Not Applicable: 1

Existing 3rd Loan

Treat as Free&Clear: 1

Existing 3rd Loan Type

Not Applicable: 1

Reports/Disclosures

Seller Prop Disc Stm: 1

Existing 3rd Loan Terms

Not Applicable: 1

Environmental

None: 1

Existing Othr Ln Trm

Not Applicable: 1

Efficiency Units

Avg Rent: 0

1 Bedroom Units

Avg Rent: 0

2 Bedroom Units

# 2 Bedroom Units: 3 Avg Rent: 1516 # Baths: 2

3 Bedrooms Units

# 3 Bedroom Units: 1 Avg Rent: 2395 # Baths: 2

4 Bedrooms Units

Avg Rent: 0

Sold Info

Loan Type: Conventional Closing Cost Split: Seller Assist - A Payment Type: Fixed Buyer Concession to Seller: 0 Buyer Concession $/%: % Seller Concession to Buyer: 2500 Seller Concession $/%: $

Remarks Misc

Cross Street: Alma School & Rio Salado Geo Lat: 33.431947 Geo Lon: -111.847786

Status Change Info

Off Market Date: 2025-08-11 Under Contract Date: 2025-07-17 Close of Escrow Date: 2025-08-11 Sold Price: $880,000

Income Expenses

Gross Annual Sch Inc: 84804 Net Operating Income: 70762

Property Features

Project Type: Four Plex Construction: Block; Wood Frame Const - Finish: Painted; Stucco Roofing: Built-Up; Tile; Foam Floors: Vinyl; Ceramic Tile; Carpet Sale Includes: Land & Building; Personal Property; Other (See Remarks) Community Features: No Pool Exterior Amenities: Green Landscaping; Partially Fenced; Cable TV Available Interior Features: Unfurnished Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Washer/Dryer; W/D Hookup; Other Heating: Individual; Heat Pump Cooling: Electric; Individual; Central Air Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: None Parking Features: Garage; Carport; 1 Space/Unit Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity; Cable TV Source of Fincl Data: Owner; Projected Proforma Lockbox Type: None Existing 1st Loan: Treat as Free&Clear Existing 1st Loan Type: Not Applicable Existing 1st Loan Terms: Not Applicable Existing 2nd Loan: Treat as Free&Clear Existing 2nd Loan Type: Not Applicable Existing 2nd Loan Terms: Not Applicable Existing 3rd Loan: Treat as Free&Clear Existing 3rd Loan Type: Not Applicable Existing 3rd Loan Terms: Not Applicable Existing Othr Ln Trm: Not Applicable New Financing: VA; FHA; Conventional; Owner May Carry Environmental: None
Listing Office: Grace CRE
IDX
Last Updated: February - 02 - 2026
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