554 W RIO SALADO Parkway #- Mesa, AZ 85201
0.46 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 6971960
HOA Y/N No
Annual Tax Amount $1,066
Tax Year 2025
Lot Size 0.457 Acres
Acres 0.46
Lot Dimensions 66 X 294
Source Arizona Regional Multiple Listing Service (ARMLS)
Property Description
This very large lot is zoned Multi‑Family, offering incredible flexibility for investors and developers. Renovate the existing home, which is still an option, and add more units! Prime to build a brand‑new multi‑family property. Preliminary plans for a four‑plex and five plex have already been initiated and are available in the doc tab, giving a head start on design ideas.
The property has already undergone the Development Incentive Permit (DIP) review with the City of Mesa, receiving pre‑approval from the City Council for the 4 unit version. Only a few final steps remain to complete the DIP process and advance to full plan review with the Planning and Development Department. Seller will give ample time to go through the approval process. Owner met with the City of Mesa to request building 5 units instead of 4 units, with 3 bd/2 bth plans, with garages and the meeting was conceptually approved. Listing agent has further details and information regarding the timing from here! All plans are "subject to" the City of Mesa's final approval. Seller has met with the Senior Economic Development Project Manager for Development Services, who has intricate personal knowledge of this site and history of the area, an amazing resource who is very helpful in this redevelopment project!
Location Highlights:
" Centrally situated near Mesa Riverview and Tempe Marketplace.
" Only 5 miles to ASU campus.
" Easy access to Loop 101 and Loop 202 freeways!!
" Just down the street from the Chicago Cubs Spring Training Stadium!
" Surrounded by shopping, dining, and entertainment options
Whether you choose to renovate, redevelop, or pursue the four plex plans, townhome lots, this property offers exceptional potential in a thriving area. A rare opportunity to capitalize on Mesa's growth with multiple exit strategies available!
Location
State AZ
County Maricopa
Area Maricopa
Zoning M-H, RM-2
Direction North 202 freeway to Alma School exit, go South to Rio Salado Pkwy and turn left. Property is approximately 3/4 mile on your left.
Interior
Flooring Flooring
Exterior
Fence Chain Link
Private Pool No
Building
Sewer Public Sewer
Water City Franchise
New Construction No
Schools
Elementary Schools Emerson Elementary School
Middle Schools Carson Junior High School
High Schools Westwood High School
School District Mesa Unified District
Others
Senior Community No
Tax ID 135-16-041
Acceptable Financing Owner May Carry, Cash, Seller Approve Terms, Conventional, Trade
Horse Property N
Disclosures None
Listing Terms Owner May Carry, Cash, Seller Approve Terms, Conventional, Trade
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