Mesa AZ Multi-Family Real Estate, Homes for Sale

This rare to market stable, seven unit apartment building is walking distance to the light rail Near Downtown Mesa and consists of seven 1 bedroom and 1 bathroom units. Most of the tenants have been in their units for many years, and some have even lived there for decades. The photos we have are from 2024 when the last unit turned over. All units currently rented at $850 or more per month except one, so there is a little room to increase rents as the units turn over. Listed at a 6.1 CAP Rate generating just under $24,380 NOI in the last twelve months with very stable tenant mix, increased income opportunity, and long term value investment near Downtown Mesa.

102 S Pomeroy Street, Mesa

$370,000

7058315 MLS

Investor special in the desirable 55+ community of Dreamland Villas! This duplex offers excellent potential for investors, contractors, or buyers looking to renovate and build equity. One unit features 2 bedrooms & 1 bath, while the second offers 1 bedroom & 1 bath. Both units are in need of repairs and updating and are being sold As-Is. Each unit includes its own covered carport. Residents have the option to join the Dreamland Villas HOA for access to amenities including a pool, pickleball, shuffleboard, clubs, and year-round activities. Convenient Mesa location close to shopping, dining, golf, medical facilities, and freeway access. Great opportunity for long term investment potential in desirable community.

5220 E Boise Street, Mesa

$510,000

7058308 MLS

Investor opportunity in the desirable 55+ community of Dreamland Villas! This fourplex offers four 1-bedroom, 1-bathroom units, each featuring a private covered back patio and an assigned covered carport parking space. Two units are currently tenant occupied, providing immediate rental income, while two vacant units offer the flexibility to renovate and lease at current market rates or place your own tenants. The property has been occupied by long-term tenants and presents an excellent value-add opportunity for investors looking to make cosmetic updates and increase rental potential. Located in a well-established community with an optional HOA that provides access to amenities including a pool, pickleball, shuffleboard, and a variety of social activities.

6035 E Covina Road, Mesa

$585,000

7055927 MLS

Great opportunity to buy a rare 3plex with all units fully occupied producing income immediately. Two one bedroom units and one 3 bedroom unit, both are rare and easy to rent because of it. Exterior was just painted 07/09/2026.

4804 E Caballero Circle, Mesa

$1,499,900

7053038 MLS

NEWLY BUILT investment 4-plex located in the NEW Community of Balboa Village in East Mesa, it offers 3 beds & 2 baths + powder room. The inviting interior features tons of natural light, 10' & 9' tall ceilings, a neutral palette, wood-look tile flooring downstairs, & plush carpet upstairs. You'll love the seamlessly flowing open layout! The impressive kitchen boasts SS appliances, granite counters, subway tile backsplash, recessed lighting, shaker cabinetry w/crown molding, and an island w/breakfast bar. The main bedroom is downstairs, featuring its own outdoor access & an ensuite with dual sinks & a walk-in closet. The large secondary bedrooms are upstairs, along with a shared full bathroom. PLUS! This gem comes with an attached 1-car garage w/driveway for additional parking!

8232 E University Drive, Mesa

$569,000

7050097 MLS

Turn-Key Investment opportunity in the heart of Mesa! This well-maintained 3-Plex sits in the established Ko Ko Palms neighborhood, built in 1971 and cash-flowing for decades, the kind of long-held, low-turnover asset that's hard to find on the market. Two of the three units carry long-term tenants who've called this property home for over a decade, and the third unit is now vacant, giving a new owner the rare chance to step in and set a fresh, market-rate lease from day one. All three units are 2 bedroom, 1 bath with separate meters for electricity, gas, and trash. Tenants cover their own utilities, keeping operating costs lean for ownership. Unit A (the largest of the three) is home to a 14-year tenant at $1,200/mo, with two covered parking spots side by side in the rear, a private front yard and a large storage unit with washer/dryer hookups. Unit B has been home to a 10-year tenant at $1,100/mo, with one covered parking spot in the rear and two storage units, one with washer/dryer hookups. Unit C is now vacant and move-in ready. Covered parking in the rear ,two storage units, one with washer/dryer hookups, positioned for a new owner to bring in a tenant at today's market rent and boost the property's overall return right out of the gate. Ownership responsibilities are refreshingly simple: landlord covers water only (approx. $150/mo) and a monthly landscaper ($100/mo). Everything else is on the tenants. With two proven, long-term income streams already in place and one unit primed for upside, this is a rare combination of stability and immediate value-add potential in a proven Mesa location. Don't miss it!

536 N Hall --, Mesa

$463,000

7047873 MLS

Conveniently located across from the newly renovated Mesa Temple, this duplex has one bedroom/one bath in front and back each with their own fenced private yard. Ample parking with a drive way, carport and street parking. Well established tenants for three years would like to stay. *Drive by only. Do not disturb tenants! No viewing until accepted contract. All facts and figures are approximate and must be verified by buyer.

216 S Hobson --, Mesa

$370,000

7045588 MLS

A unique investment opportunity in the heart of Mesa! This versatile property features two separate homes on one lot, offering a total of 6 bedrooms, 2 bathrooms, and approximately 1,784 square feet of living space. Ideal for investors, multi-generational living, or owner-occupants seeking rental income, this property combines flexibility and value. Front house occupied at $1300/mo . Back House occupied at $1000/mo. Buyer to verify all listing information, including schools.

630 S Grand Street, Mesa

$749,999

7045584 MLS

Investment Opportunity! Turnkey 4-plex generating strong rental income in a highly desirable Mesa location. This fully occupied multifamily property features four 2-bedroom, 1-bath units, each approximately 867 square feet. Current rents provide immediate cash flow with additional upside potential through future rent growth and value-add improvements. Two units have been updated, while the remaining units offer opportunities to increase returns. Property features individually metered units, granite countertops in select units, and a newer A/C unit. Conveniently located near shopping, dining, schools, and major freeways, this asset is ideal for investors seeking stable income and long-term appreciation. Add this cash-flowing property to your portfolio today!

1861 N Spring --, Mesa

$525,000

7044313 MLS

Calling all investors!! BRAND NEW ROOF February 2026 & NEWER Exterior Paint in 2025. This Triplex is fully leased out with gross rents totaling $3,194 a month. Triplex has some upgrades over the years with flooring, bathrooms, and PEX plumbing. One unit upstairs and two units downstairs. Downstairs units have private backyards and BASEMENTS, huge attraction for tenants!! Also, plenty of parking in parking lot designated for the three triplex's in this private area tucked back off of Mesa Drive. Owner pays water/sewer/trash and Tenants pay electric. Please do not disturb tenants - drive by only.

532 S Mesa Drive Unit B, Mesa

$410,000

7043483 MLS

Two units. One long-term tenant already in place. One vacant. Move in or rent it out. Block construction. LVL throughout. This isn't a traditional duplex where you hear your tenant sneeze. It lives like two houses on one lot. Mirror-image floor plans. One bed, one bath, kitchen, nook, oversized private backyard. Covered parking plus extra spots per unit. Separate entrances, separate fenced yards, separate meters. Tenant covers electric and landscape. The setup does the work. The location seals it. Downtown Mesa, light rail, ASU.

449 N Drew Street E, Mesa

$1,225,000

7042105 MLS

Built in 1986 of wood-frame and stucco construction, the property offers a unit mix of six (6) two-bedroom/one-bath units and one (1) two-bedroom/two-bath unit. Each unit is individually metered for electricity and features washer and dryer hookups, with select units offering private patios and additional storage space. The property also provides ample parking with nine (9) covered spaces and six (6) guest parking spaces. Major employers in close proximity include the Downtown Mesa ASU Campus, Banner Health, Mesa Riverview, Casino Arizona, Mesa Community College, and the East Valley Institute of Technology.

416 N Roca --, Mesa

$685,000

7040102 MLS

Fantastic investment opportunity in Central Mesa. This 4plex features all 2 bed 1 bath units with long term tenants already in place. Current rents are below market but all 4 tenants are on month to month leases, so increasing rents is possible with 30 day notices. All facts and figures approximate, buyer to verify to their satisfaction.

2216 E Broadway Road, Mesa

$590,000

7039964 MLS

Great investment opportunity in North/West Mesa. This trip-plex features all 2bed/1bath units with 3 covered parking spots. Building exterior just painted 06/04/2026. All facts and figures approximate, buyer to verify to their satisfaction.

1935 N Center Street, Mesa

$490,000

7034354 MLS

Rare Mesa duplex investment opportunity with strong cash flow potential in a prime central location near the Loop 202, Downtown Mesa, Tempe, shopping, dining and major employment hubs. This multifamily property features a spacious 3-bedroom, 2-bath unit plus a separate 2-bedroom, 1-bath unit, making it ideal for investors, house hackers or multigenerational living. Updated finishes, private parking, low-maintenance setup and RM-2 zoning create flexibility and long-term value. Excellent rental demand area with proximity to ASU, Mesa Community College, Phoenix Sky Harbor and light rail access. Perfect opportunity for rental income, owner-occupant financing or portfolio expansion in one of Mesa's most affordable income-producing markets. Strong upside and flexible investment opportunity. Now.

615 S Pioneer --, Mesa

$505,000

7034029 MLS

Welcome to your new home in the heart of Mesa, Arizona! This beautifully maintained duplex offers the perfect blend of comfort and convenience, featuring 2 spacious bedrooms and 1 modern bathroom in each unit. Property is currently occupied with strong leases into 2027! Key Features - 2 Bedrooms, 1 Bathroom per Unit: Enjoy ample space with well-appointed bedrooms that provide plenty of natural light and comfort. - AC Units a Few Years Old Stay cool during the warm Arizona summers with air conditioning units that are just a few years old, providing reliable comfort for years to come. - Private Back Yards: Each unit boasts its own private backyard, perfect for outdoor relaxation, gardening, or entertaining guests. Enjoy your own personal oasis

4612 E Camino Street, Mesa

$575,000

7029561 MLS

INCOME PRODUCING SETUP, 2 KITCHENS, DETACHED 2 STUDIO UNIT GUEST HOUSE, DOWNTOWN MESA Investor-focused opportunity with a remodeled main residence and detached 2 studio unit guest house designed for flexible occupancy and multiple income streams. Property layout supports long-term rental, short-term rental, live/work use, shared housing, or multigenerational occupancy. Two kitchens and separated living areas create strong functionality for maximizing rental potential and tenant flexibility. Interior remodel adds turnkey appeal while minimizing immediate renovation costs. Expansive lot offers additional parking flexibility, outdoor utility, storage options, or future value-add potential. Located in downtown Mesa near light rail access, restaurants, retail, and ongoing redevelopment activity driving continued demand in the area. Strong fit for investors seeking cash flow, house hacking potential, or a property adaptable to multiple rental strategies. Rare opportunity to acquire a flexible income property that stands apart from standard single-family inventory.

146 S Robson --, Mesa

$730,000

7020608 MLS

Beautifully remodeled fourplex in a prime Mesa location! Each unit features updated finishes, refreshed interiors designed for comfort and durability. This turnkey investment offers strong rental appeal with minimal maintenance, making it an excellent opportunity for both new and seasoned investors. Conveniently located near shopping, dining, and major commuter routes. There is a laundry room used by all four units. Also a storage room. See document tab for HOA and rent roll. PLEASE DRIVE BY ONLY. DO NOT DISTURB TENANTS.

2650 E Mckellips Road Unit 241, Mesa

$725,000

7018183 MLS

Turn-key investment opportunity! This fully renovated 4-unit property (2 duplexes on 2 parcels) features spacious 1-bed/1-bath units with open floor plans, premium finishes, and HUGE private patios. Each unit includes quartz countertops, stainless steel appliances, shaker cabinets, modern flooring, and updated HVAC, roofs, windows, plumbing, and electrical. Sitting on a large 16,089 SF lot with ample parking, just 1/4 mile from Mesa Light Rail. All four units are occupied. Property management in place. Drive by only. Do not disturb tenants.

211 S Doran --, Mesa

$699,000

7012894 MLS

**WELL-MAINTAINED, TURN-KEY** 4-Plex with NO HOA is located in a HIGH-DEMAND, QUITE Mesa neighborhood~The property is PROFESSIONALLY-MANAGED, has LONG-TERM Tenants, resulting in LOW vacancy-rates and REDUCED operating-expenses~ALL (4) units are 2 bed/1 bath, and are individually-metered for electricity~LINEAR parking provides, TWO vehicle-spaces per unit~The ground-floor units include PRIVATE-ENCLOSED yard-areas, two units are FULLY-REMODELED and the other two are UPDATED~The property location offers Tenants a suburban-feel with convenient access to modern amenities such as - Mesa Riverview, Mesa Grand , Superstition Springs and Tempe Marketplace - Westwood High School, Mesa Community College and ASU - Tempe Campus are also nearby~ 101 and 202 interchange, Phoenix Sky Harbor, Mesa Gateway airports, are all close, for easy commuting and traveling~Long-term Tenants have rents "relatively below-market," creating a potential opportunity for value-enhancement in a submarket where renovated and updated units are leasing for OVER $1,375 to $1,500

834 N Cherry -- Unit 1, Mesa

$689,900

7011586 MLS

Amazing 4 plex opportunity in East Mesa!!! 4 plex is located in a 55+ community!!! The property has always stayed occupied. Unit was built in 1982 with excellent workmanship. Very Low expenses year after year as this is a solid well built property. This is a value ad opportunity with Room for rents to increase. Come make us an offer and make this your next investment today!

5816 E Albany Street Unit 1-4, Mesa

$562,500

7006609 MLS

This 3-unit, garden-style property built in 1960 features a versatile layout with a stand-alone 2-bed, 1-bath casita and a duplex consisting of a 2-bed, 1-bath unit and a 1-bed, 1-bath unit. The interiors have been thoughtfully upgraded, with each unit offering in-unit washer and dryer. Situated on a corner lot with mature landscaping, the property also benefits from individually metered electricity to help keep expenses low. Located in the growing Mesa submarket, it offers close proximity to major healthcare employers, university campuses, and retail amenities, making it an attractive option for both tenants and investors.

1357 W Garden Circle, Mesa

$575,000

7002732 MLS

Prime Investment Opportunity! This fully remodeled duplex in North Mesa delivers an impressive 8% cap rate and multiple high-performing rental strategies. Situated on a quiet July Circle cul-de-sac, this property features two updated units designed for strong, consistent cash flow and minimal vacancy. Both units offer modern finishes, efficient layouts, and private backyard spaces--ideal for traditional long-term tenants, furnished mid-term rentals, traveling professionals, or even a pad-split configuration to maximize income. With ample parking and low-maintenance landscaping, this property is built for streamlined management and stable returns. A turnkey, high-yield asset--opportunities like this are rare! For an owner occupant ask us about the $5K grant available for this duplex! This building is by far the best looking building in the neighborhood with endless possibilities.

1063 N July Circle, Mesa

$669,000

7000699 MLS

Stabilized, turnkey 4-plex offering immediate cash flow. Recent upgrades include a brand-new roof with transferable warranty, fresh exterior paint, renovated units and landscaping. The property is 100% occupied. Ideal for investors seeking a low-maintenance, professionally managed asset.

72 W Southern Avenue, Mesa

$4,650,000

6989104 MLS

The Riggs Circle Apartments consists of 25 units, all 2bed/1bath with private yards and washer/dryer in unit. The garden style property has covered parking and an on site pool for tenant amenities. 16 of the 25 units have now been renovated and the property is fully occupied.

510 N Horne --, Mesa

$1,499,900

6967134 MLS

AMAZING INVESTMENT OPPORTUNITY!! This Brand New 4-Plex is in a brand new community. Close to the 202, this new community offers a beautiful common area, dog park, pickle-ball court, and more! Seller is offering a closing cost incentive as well! These wont last long! Starting at $1.5m!

8232 E University Drive, Mesa

$365,000

6942834 MLS

this is owner/agent listing, Investor Opportunity! Multi-family property featuring 4 total units. Main house offers 4 beds, 2 baths, plus a smaller detached unit and 2 RVs in the backyard. The main house and both RVs are currently rented, generating $3,500/month in income with potential for $5,000.00 once the additional unit is leased. Ideal for investors or owner-occupants looking for cash flow from day one. Spacious lot with ample parking and versatile living options. Don't miss this high-income potential property!

10301 E Illini Street, Mesa

$367,999

6933132 MLS

Welcome to 526 S Mesa! JUST UPDATED!!! - Property recently rewired, brand new hot water heaters, and roof is in midst of being replaced!!! A great multifamily DUPLEX! The Property: Freshly painted inside with a 2 bedroom, 1 bath unit and a 1 bed, 1 bath unit with tile throughout and a lot of money put in!! INCLUDES Newer Appliances. Both have their OWN FENCED LARGE BACKYARDS, washer/dryer hookups, and MASSIVE FRONT YARD for Parking. The Area - NEARBY are many Mesa Attractions such as Costco (7 min), El Dorado Lakes Golf Course (6 min), and only minutes from multiple parks, Gilbert, and Tempe; also only minutes from the 60 and 101 for quick travel! This property won't last long!

526 S Mesa Drive, Mesa

$469,999

6918635 MLS

Each unit is Individually Metered Updated Duplex Investment Opportunity. White Shaker Cabinets, Vinyl Flooring, Tile bathroom surrounds and floors. Both Units have private backyards with laundry inside each unit. Previous Owner replaced both AC Units, and Hot Water Heaters. Both Units have similar finishes. 1 Bedroom Lease Ends 3-31-27 2 Bedroom VACANT

453 W University Drive, Mesa

$765,000

6861620 MLS

Prime Mesa Investment Opportunity! This 4-plex offers 4 spacious 2-bed, 2-bath, 1000sqft units with strong upside potential. First-floor units boast remodeled kitchens, all-tile floors, and large fenced yards. Upstairs, Unit D features vinyl floors and a remodeled kitchen; Unit C has a remodeled kitchen, laminate in living areas, and carpeted bedrooms. Most windows upgraded to vinyl dual-pane. Separate laundry building with owned coin machines generates ~$1,500/yr, plus tenant storage. Long-term tenants at below-market rents offer significant rent increase potential. Steps from light rail. Owner pays water, sewer, trash, and laundry power. See APOD in docs. Buyer/agent to verify all info. Act now for great cash flow potential!

1138 E 2nd Street, Mesa

$1,999,000

6742547 MLS

Rare investment opportunity to own 3 duplexes and 2 single-family homes near Downtown Mesa. All single-story slump block construction, individually metered for electricity and gas. All 3 duplexes consist of 2 bedroom, 1 bath units w/ private front/back yards, washer/dryer hookups. Each of the 2 houses have 3 bedrooms, 2 bath layouts w/attached garage, private front and back yards. Sale includes two parcels 138-09-060E and 138-09-059A (one single-family home on its own parcel). Substantial upgrades made in recent years: 5 of the 6 duplex units have new A/Cs, both of the single family homes have new A/Cs all w/transferrable warranties. 5 of the 6 duplexes have new water heaters. Both single-family homes have new water heaters. Both single-family homes have new roofs w/transferable warranty.

1402 E Dana Avenue, Mesa

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