Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1138 N Dresden Cir Mesa, AZ 85203

    View on Map
    Sponsored
    For Sale
    $599,000

    MULTI_FAMILY - Mesa, AZ

    Days on Market:
    20
    Last Refresh:
    Mar 8 at 6:06 am

    Property Features for 1138 N Dresden Cir

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Security features
    Security Lighting
    Zoning
    Multii-Family
    APN
    137-32-378
    Parking features
    Carport, RV, Garage - Detached, Open, Assigned
    Exterior features
    Rain Gutters
    Appliances
    Built-In Range, Disposal, Dishwasher, Refrigerator

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating)
    Cooling system
    Electric

    Building Details

    Year built
    1972
    Number of units
    3
    Flooring type
    Wood, Vinyl, Carpet, Tile - Ceramic
    Building materials
    Wood Frame, Painted, Stucco, Block
    Roof type
    Composition, Metal

    We can help!

    Listing Contact
    Ephrem Jando

    Real Broker (480) 907-8294

    Listing agent Ephrem Jando (480) 206-3631

    Listing date Feb 17, 2026

    MLS# 6948740 Listing URL

    Copyright © 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Mesa Triplex with Garages

    This Mesa triplex is a turn-key property featuring three separate addresses and garages. Unit 1 is an updated 1-bedroom, 1-bathroom unit with a long-term tenant through HOM INC, generating $1600 per month. Unit 2 is a 1-bedroom, 1-bathroom unit with a 2-car garage, currently rented for $1300 per month. Unit 3 is a 2-bedroom, 1-bathroom unit with a private yard and carport, bringing in $1500 per month. The property includes a coin-operated laundry facility, a workshop, and an RV gate with a rentable RV parking space. There is expansion potential for a studio or a fourth unit. Situated on a cul-de-sac lot with alley access, the property is conveniently located near the light rail and freeways. The HVAC units are professionally maintained, and partial and full roof replacements have already been completed. Two out of the three units have been remodeled. A private alley provides access for tenants and parking. The building qualifies for FHA financing, offering the option to live in one unit and rent out the other two. The property is located in Mesa, Arizona.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mesa
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.818732
    Latitude
    33.436186

    Nearby Similar for Sale

    • New
      $450,000

      Mesa Multifamily Property on Corner Lot

      Multifamily property in Mesa's 85203 corridor on a cul-de-sac.
      1107 N July Cir, Mesa, AZ 85203
      View Details
    • $470,000
      1,908 SF

      Mesa Duplex in Senior Community

      Well-maintained duplex in Mesa senior community with strong rental demand.
      6049 E Albany St, Mesa, AZ 85205
      View Details
    • $575,000

      Mesa Duplex with Seller Financing

      Well-maintained duplex in Mesa with income potential.
      1129 N Wedgewood Cir, Mesa, AZ 85203
      View Details
    • $699,000
      Pending

      Mesa Fourplex in Prime Location

      Well-maintained fourplex in Mesa, fully occupied, generating immediate rental income.
      2020 N Hunt Cir, Mesa, AZ 85203
      View Details
    • $730,000
      Pending

      Mesa Multifamily Investment Opportunity

      Well-maintained four-unit property in high-demand Mesa neighborhood.
      3050 E Cicero St, Mesa, AZ 85213
      View Details
    • $469,999

      Updated Duplex Investment Opportunity

      Fully occupied duplex in Mesa, Arizona with updated interiors.
      453 W University Dr, Mesa, AZ 85201
      View Details
    • $845,000

      Mesa Multifamily Investment Opportunity

      Well-maintained 4-unit property with income growth potential in Mesa, AZ.
      860 E Brown Rd, Mesa, AZ 85203
      View Details
    • $399,900

      Charming Duplex Across From Park

      Desirable duplex with private yards in historic neighborhood.
      335 S Lesueur St, Mesa, AZ 85204
      View Details
    • $1,600,000

      Mesa Duplexes with Development Potential

      Five single-level duplexes near downtown Mesa with excess land.
      202 E 2Nd Ave, Mesa, AZ 85210
      View Details
    • $99,999
      0.05 Acres

      Mesa RV Resort Land

      Land in 55+ active adult community with many amenities.
      7750 E Broadway Rd, Mesa, AZ 85208
      View Details
    • $369,999

      Mesa Duplex with Fenced Yards

      Multifamily duplex in Mesa, Arizona, with large fenced yards.
      526 S Mesa Dr, Mesa, AZ 85210
      View Details
    • $1,499,900
      Pending

      New Mesa Fourplex Investment Opportunity

      New fourplex in Mesa community with amenities, near Loop 202.
      8232 E University Dr, Mesa, AZ 85207
      View Details

    FAQs

    What type of property is this?
    Triplex - Turn-key Mesa triplex with garages and expansion potential.
    Where is this triplex located?
    The property is located at 1138 N Dresden Cir Mesa, AZ.
    What is the asking price?
    The asking price for this property is $599,000.
    What are key features of this property?
    This property features: - Turn-key triplex with three separate addresses and garages, offering immediate rental income.; - Building qualifies for FHA, allowing owner-occupancy with rental income from other units.; - Includes coin-op laundry, workshop, RV gate, and rentable RV parking space for additional income potential.
    (480) 206-3631
    Request Owner's contact information
    1138 N Dresden Cir Mesa, AZ 85203
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1138 N Dresden Cir
    Mesa, AZ 85203
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1138 N Dresden Cir Mesa, AZ 85203
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Ephrem Jando
    (480) 206-3631 (480) 699-0777
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!