Multi-Family Development
For Sale
$495,000
554 W RIO SALADO Parkway -, Mesa, AZ 85201
Zoned multifamily lot in Mesa with initiated four-plex and five-plex planning through the city’s DIP process.
Property SizeContact for details
Days on Market212
Property Features for 554 W RIO SALADO Parkway -
General Information
Standard status
Active
Property subtype
Lots/Land
Zoning
Multi-Family
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$1,066
Listing Agency:
West USA Realty
(602) 359-7653
Listed By:
MARK S GUNNING · License #SA018139000
(602) 359-7653
Source:
Exitrealty
Added: Jan 21
Changed: Aug 14
Last Checked: Aug 14 at 7:08AM
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 West USA Realty
Investment Insights
Based on property information with market context.
This is a very large multifamily-zoned lot in Mesa with an existing home on site. Development options include renovating the current home and adding additional units, or building a brand-new multifamily property. Preliminary plans for a four-plex and five-plex have been initiated and are available in the document tab.
The property has already undergone the Development Incentive Permit (DIP) review with the City of Mesa, with pre-approval from the City Council for the four-unit version. Only a few final steps remain to complete the DIP process and move into full plan review with the Planning and Development Department. Plans are subject to the City of Mesa’s final approval. The seller will provide time for buyers to work through the approval process.
The owner also met with the City of Mesa to request permission for five units instead of four, including 3 bd/2 bth plans with garages; the meeting was conceptually approved. The site has been discussed with the Senior Economic Development Project Manager for Development Services, who has detailed knowledge of this property and the area’s history. Located centrally near Mesa Riverview and Tempe Marketplace, with easy access to Loop 101 and Loop 202, the property is also about 5 miles to ASU and down the street from the Chicago Cubs Spring Training Stadium.
The property has already undergone the Development Incentive Permit (DIP) review with the City of Mesa, with pre-approval from the City Council for the four-unit version. Only a few final steps remain to complete the DIP process and move into full plan review with the Planning and Development Department. Plans are subject to the City of Mesa’s final approval. The seller will provide time for buyers to work through the approval process.
The owner also met with the City of Mesa to request permission for five units instead of four, including 3 bd/2 bth plans with garages; the meeting was conceptually approved. The site has been discussed with the Senior Economic Development Project Manager for Development Services, who has detailed knowledge of this property and the area’s history. Located centrally near Mesa Riverview and Tempe Marketplace, with easy access to Loop 101 and Loop 202, the property is also about 5 miles to ASU and down the street from the Chicago Cubs Spring Training Stadium.
Key Highlights
- Very large lot zoned Multi‑Family in Mesa for potential multi‑family redevelopment or unit expansion
- Preliminary plans for a four‑plex and five‑plex are available in the doc tab, providing early design concepts
- Development Incentive Permit (DIP) review with the City of Mesa received pre‑approval from City Council for the 4‑unit version
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,202
Businesses Nearby
Explore this area
Business Placement
Demographics for 85201, AZ
51,187
Population
23,099
Households
2.2
Avg Household Size
33
Median Age
27%
College-Educated
87%
High-School Grad
9.4 sq mi
ZIP Area
5,445
Density / Sq Mi
$63,725
Median Household Income
$40,067
Median Earnings
$1,349
Median Rent
$292,600
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential land & home lot - Zoned multifamily lot in Mesa with initiated four-plex and five-plex planning through the city’s DIP process.
Where is this residential land & home lot located?
The property is located at 554 W RIO SALADO Parkway - Mesa, AZ.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Very large lot zoned Multi‑Family in Mesa for potential multi‑family redevelopment or unit expansion; Preliminary plans for a four‑plex and five‑plex are available in the doc tab, providing early design concepts; Development Incentive Permit (DIP) review with the City of Mesa received pre‑approval from City Council for the 4‑unit version
