$2,050,000
$880K PRICE DROP

Estimated payment $11,509/month

Total Views 1,076
-- Bed
-- Bath
-- Sq Ft
-- Price per Sq Ft

Highlights

  • Brick Veneer
  • Ceramic Tile Flooring
  • Heat Pump System
  • Franklin at Brimhall Elementary School Rated A
  • Central Air

About This Home

The Eight at Riverview Portfolio
Mesa & Tempe, Arizona | 8 Units
We are proud to exclusively present the Eight at Riverview Portfolio, a rare opportunity to acquire a stabilized, income-producing multifamily portfolio spanning five properties across Mesa and Tempe. Comprising a total of 8 rental units across 5 parcels, this offering delivers immediate cash flow with significant value-add upside in some of the most dynamic submarkets in the East Valley.
Strategically located near major employment hubs, Arizona State University, Downtown Mesa, the Cubs Spring Training complex, Riverview Park, and multiple freeway corridors, the portfolio is ideally positioned for continued rent growth, long-term appreciation, and steady occupancy. investors benefit from diversified assets across both duplex and fourplex product types all professionally renovated and maintained by the same ownership for over a decade.
Portfolio Inclusions;
920 S Kenwood Circle | Tempe, AZ Located in a quiet cul-de-sac just minutes from ASU and the Tempe Streetcar, this duplex features two 2-bedroom, 1-bathroom units totaling approximately 1,344 SF. Both units have been fully remodeled and include in-unit washer/dryers, tile flooring, and private backyards. The tenants are responsible for all utilities, a rare and valuable setup that maximizes investor operating income. Current rents are below market at an average of $1,197/month, offering strong upside upon turnover or light renovations. The property is ideally positioned for student and professional renters alike, offering consistent demand in a central Tempe location.

947 & 959 W 8th Place | Mesa, AZ Referred to as Four at 8th Place, these two side-by-side duplexes sit on separate parcels in a sought-after corridor near Downtown Mesa. Each building has been fully remodeled with updated kitchens, appliances, flooring, and HVAC systems. Tenants enjoy private yards, in-unit laundry, and carport parking. With combined rents of $6,485/month and long-term tenancy in place, this low-maintenance asset delivers immediate yield with additional value through rent increases. The location provides strong rental demand with convenient access to Tempe and the Loop 202.

421 E 6th Drive | Mesa, AZ Marketed as Sunrise at 6th, this single-level duplex offers two spacious 2-bedroom, 1-bath units. Unit 1 was fully renovated in 2019 and rents for $1,230, while Unit 2 has been home to long-term tenants since 2014, currently paying $1,028. Both units include washer/dryers and recently replaced AC systems (2023 and 2024). This property offers a clear value-add opportunity by updating Unit 2 and adjusting rents to market levels. Located minutes from Downtown Mesa, with access to freeways, transit, and employment, this asset is a strong addition to the portfolio.

Listing Agent

Sophia Baron

Grace CRE License #BR648866000 Listed on: 07/18/2025

Co-Listing Agent

Garrett Pedicini

Grace CRE License #SA687268000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,066

Year Built

  • Built in 1984

Home Design

  • Brick Veneer
  • Wood Frame Construction
  • Tile Roof
  • Composition Roof
  • Built-Up Roof
  • Foam Roof
  • Block Exterior
  • Stucco
  • Adobe

Flooring

  • Carpet
  • Ceramic Tile
  • Vinyl

Parking

  • 10 Open Parking Spaces
  • 18 Parking Spaces
  • Carport
  • Free Parking
  • Paved Parking

Utilities

  • Central Air
  • Heat Pump System
  • Individual Controls for Heating

Listing and Financial Details

  • Tax Lot 7
  • Assessor Parcel Number 135-22-059

Community Details

Overview

  • 5 Buildings
  • 8 Units
  • Building Dimensions are irr
  • Heritage Estates Lot 1 15 Subdivision

Building Details

  • Operating Expense $29,174
  • Gross Income $133,656
  • Net Operating Income $104,482

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,066

Year Built

Built in 1984

Lot Details

0

Listing Details

  • Cross Street: Alma School & Rio Salado
  • Legal Info Range: 5E
  • Property Type: Multiple Dwellings
  • Zoning: multi
  • Number Of Buildings: 5
  • Ownership: Fee Simple
  • Year Built: 1984
  • Tax Year: 2024
  • Road Surface Type: Asphalt
  • Co List Office Mls Id: grcr001
  • Co List Office Phone: 602-975-5516
  • Subdivision Name: HERITAGE ESTATES LOT 1-15
  • Garage Yn: Yes
  • Cooling:Central Air: Yes
  • Roofing:Composition: Yes
  • Construction:Wood Frame: Yes
  • Water Source City Franchise2: Yes
  • Const - Finish Brick Veneer: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Carpet, Ceramic Tile, Vinyl
  • Appliances: Free-Standing Range, Other, Disposal, Dishwasher, Refrigerator, Washer/Dryer, W/D Hookup
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:WasherDryer: Yes
  • Appliances Included:WD Hookup: Yes
  • Appliances Included:Other (See Remarks)56: Yes
  • Appliances Included:Refrigerator2: Yes
  • Appliances Included:Dishwasher2: Yes
  • Appliances Included:Disposal2: Yes

Exterior Features

  • Disclosures: Seller Prop Disc Stm
  • Construction Type: Brick Veneer, Wood Frame, Painted, Stucco, Adobe, Block
  • Roof: Composition, Tile, Built-Up, Foam
  • Construction:Block: Yes
  • Construction:Adobe: Yes

Garage/Parking

  • Total Covered Spaces: 8.0
  • Parking Features: Paved, Free, 1 Space/Unit, Carport
  • Attached Garage: No
  • Open Parking Spaces: 10.0
  • Total Parking Spaces: 18.0
  • General Property Description:Covered Parking Spcs: 8.0
  • General Property Description:Uncvrd Parking Spcs: 10.0
  • General Property Description:Total Parking Spcs: 18.0
  • Parking Features:Carport: Yes
  • Parking Features Free2: Yes
  • Parking Features:Paved2: Yes
  • Parking Features:Garage: Yes

Utilities

  • Electric: SRP
  • Cooling: Central Air, Electric, Heat Pump, Individual
  • Heating: Individual, Heat Pump, Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes
  • Heating:Individual: Yes
  • Heating:Heat Pump2: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Exterior Amenities:Green Landscaping: Yes
  • Exterior Amenities:Cable TV Available: Yes
  • Exterior Amenities:Partially Fenced: Yes
  • Interior Amenities:Unfurnished: Yes

Fee Information

  • Annual Water Sewer Expense: 6780.0

Schools

  • Junior High Dist: Mesa Unified District

Lot Info

  • Lot Size: irr
  • Additional Parcels: No
  • Parcel #: 135-22-059

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Number Of Units Total: 8
  • Annual Gross Income: 133656.0
  • Insurance Expense: 6064.0
  • Maintenance Expense: 6619.0
  • Property Net Operating Income: 104482.0
  • Annual Operating Expense: 29174.0

Tax Info

  • Tax Annual Amount: 4066.0
  • Tax Book Number: 135.00
  • Tax Lot: 7

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/13/2025 08/13/25 Price Changed $2,050,000 -30.0% --
07/18/2025 07/18/25 For Sale $2,930,000 -- --
Source: Arizona Regional Multiple Listing Service (ARMLS)

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6894819

Arizona Regional Multiple Listing Service (ARMLS)