Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Subdivision Heritage Estates Lot 1-15
MLS Listing ID 6894819
Maintenance Fees $7,491
Year Built 1984
Annual Tax Amount $6,472
Tax Year 2024
Lot Dimensions irr
Source Arizona Regional Multiple Listing Service (ARMLS)
Property Description
Mesa & Tempe, Arizona | 12 Units
Grace Commercial Real Estate is proud to exclusively present the Twelve 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 12 rental units across 6 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.
924 N Revere | Mesa, AZ Known as Four at Riverview, this fully leased fourplex includes a standalone 3-bed, 2-bath residence and three 2-bed, 2-bath unitsall featuring in-unit laundry, updated interiors, and newer HVAC systems. Renovations were completed between 2018 and 2020, and all major systems have been upgraded. The property currently generates $7,030/month, with rental comps supporting potential increases of $650-$1,000/month. Located just off the 202 and 101 freeways near Riverview Mall, Tempe Marketplace, and Cubs Stadium, this asset offers both high visibility and high performance.
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.
Location
State AZ
County Maricopa
Community Heritage Estates Lot 1-15
Zoning multi
Interior
Heating Individual, Heat Pump, Electric
Cooling Central Air, Electric, Heat Pump, Individual
Flooring Carpet, Ceramic Tile, Vinyl
Appliance Free-Standing Range, Other, Disposal, Dishwasher, Refrigerator, Washer/Dryer, W/D Hookup
Exterior
Parking Features Paved, Free, 1 Space/Unit, Carport
Community Features No Pool
Roof Type Composition,Tile,Built-Up,Foam
Garage Yes
Building
Sewer Public Sewer
Water City Franchise
New Construction No
Schools
School District Mesa Unified District
Others
Senior Community No
Tax ID 135-22-059
Acceptable Financing Owner May Carry, Conventional, FHA, VA Loan
Listing Terms Owner May Carry, Conventional, FHA, VA Loan
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