Four-Plex Investment
1861 N Spring Mesa, AZ 85203
1861 N Spring, Mesa, AZ, 85203
$749,999
For Sale
$749,999
Fully occupied four-plex with four 2-bedroom, 1-bath units and individually metered utilities.
Property Size3,468 SF
Price / SF$216.26
Days on Market55
Property Features for 1861 N Spring
General Information
- Standard status
- Active
- Size
- 3,468 SF
- Property subtype
- Multiple Dwellings
Building Details
- Year Built
- 1984
Listing agency
My Home Group Real Estate
(623) 760-3742
Listed by
Silvia Del Toro Ochoa · License #SA701849000
(623) 760-3742
Source
Compass
Added: May 28 Updated: Jul 21 at 6:55AM Checked: Jul 21 at 6:55AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of My Home Group Real Estate
Investment Insights
Based on property information with market context.
This fully occupied four-plex includes four 2-bedroom, 1-bath units, each approximately 867 square feet. The property features individually metered units, and select units include granite countertops. Updates include a newer A/C unit, and two of the units have been updated, with the remaining units offering room for additional improvements.
Located in Mesa, the property is described as convenient to shopping, dining, schools, and major freeways.
For investors seeking a residential income asset with multiple independently metered units, this four-plex provides immediate rental occupancy and a straightforward unit mix of four 2-bedroom layouts.
Located in Mesa, the property is described as convenient to shopping, dining, schools, and major freeways.
For investors seeking a residential income asset with multiple independently metered units, this four-plex provides immediate rental occupancy and a straightforward unit mix of four 2-bedroom layouts.
Key Highlights
- Fully occupied 4‑plex with 4 units total, each a 2‑bedroom, 1‑bath layout
- Individually metered utilities for each unit
- Each unit is approximately 867 SF
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $47.0k | $13.56 |
| − Vacancy | −$3.0k | −$0.86 |
| EGI | $44.0k | $12.70 |
| − OpEx | −$13.2k | −$3.81 |
| NOI | $30.8k | $8.89 |
3,468 SF · lease $13.56/SF/yr · vacancy 6.37% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$440.3K
$385.3K – $513.7K
NOI $30,821 @ 7.0% cap · market cap 4.11%
Second Best
Apartment 5plus
$387.4K
$339.0K – $452.0K
NOI $27,121 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$950.6K
$831.8K – $1.11M
NOI $66,542 @ 7.0% cap · market cap 8.87%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Fully occupied four-plex with four 2-bedroom, 1-bath units and individually metered utilities.
Where is this quadplex located?
The property is located at 1861 N Spring Mesa, AZ.
What is the asking price?
The asking price for this property is $749,999.
What are key features of this property?
This property features: Fully occupied 4‑plex with 4 units total, each a 2‑bedroom, 1‑bath layout; Individually metered utilities for each unit; Each unit is approximately 867 SF
