1540 E BROADWAY Road, Mesa, AZ 85204

$595,000

Property Type: Multiple Dwellings Bedrooms: 7 Baths: 4 Status: Active

Current Price: $595,000 Last Modified: 8/19/2026

Overview

Description

Great opportunity to own an income producing property in Mesa. Rare building with one 3 bedroom/two bath apartment and two two bedroom/one bath apartments. The two bedroom apartments are occupied with long term tenants on month to month leases. The three bedroom was just rented after some renovations on a one year lease at $1700mo. Building has new exterior paint and a new water main. Building does share courtyard and common areas with 1546 Broadway and needs to be bought together.

Listing Details MLS# 7066916

Location, Tax & Legal

House Number: 1540
Compass: E
Street Name: BROADWAY
St Suffix: Road
City/Town Code: Mesa
State/Province: AZ
Zip Code: 85204
Zip4: 2358
Country: US
County Code: Maricopa
Subdivision: MESA HOMES 2 REPLATTED
Assessor Number: 138-13-164
Tax Year: 2025
Assessor's Map #: 13
Legal Description (Abbrev): LOT 153 MESA HOMES 2 REPLATTED MCR 007244
Assessor's Parcel #: 164
Add'l Parcels: No
Tax Municipality: Mesa
Census Tract: 421602
Taxes: 1429
Legal: LOT 153 MESA HOMES 2 REPLATTED MCR 007244
Marketing Name: unk

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: .25 acres
Year Built: 1968
Total # of Units: 3
# of Buildings: Yes
Zoning: C-G
Elementary School District: Mesa Unified District
High School District: Mesa Unified District
Uncvrd Parking Spcs: 0

Remarks Misc

Cross Street: Broadway/Harris

Legal Info

Township: 1N
Range: 5E
Section: 24
Lot Number: 153

2 Bedroom Units

# 2 Bedroom Units: 2
Avg Rent: 990
Avg SqFt: 800
# Baths: Yes

More Information

3 Bedrooms Units

# 3 Bedroom Units: Yes
Avg Rent: 1700
Avg SqFt: 1620
# Baths: 2

Structure

Bedrooms Total: 7
Bathrooms Total: 4

Income Expenses

Gross Annual Sch Inc: 44160
Net Operating Income: 40800

Showing Notification Methods

Showing Service: Aligned Showings

Contact Info

List Agent Home Phn: 480-689-6360

Project Type

Tri-Plex: Yes

Efficiency Units

Avg Rent: 0

1 Bedroom Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Construction

Block: Yes
Wood Frame: Yes

Const - Finish

Siding: Yes

Roofing

Composition: Yes

Floors

Laminate: Yes
Tile: Yes
Vinyl: Yes

Sale Includes

Land & Building: Yes

Income & Expenses

Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 1429
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 44160

Pmt & Rate Info

Cap Rate: 6.86
Equity: 595000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0

Lockbox Type

None: Yes

Community Features

No Pool: Yes

Heating

Heat Pump: Yes

Cooling

Heat Pump: Yes

Tenant Pays

Electricity: Yes

Appliances Included

Free-Standing Electric Oven: Yes
Refrigerator: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

>1 Space Per Unit: Yes

Electric

SRP: Yes

Gas

None: Yes

Owner Pays

Water: Yes
Sewer: Yes
Trash Collection: Yes

New Financing

Cash: Yes
Conventional: Yes
FHA: Yes

Reports/Disclosures

None: Yes

Environmental

None: Yes

Property Features

Project Type: Tri-Plex Construction: Block; Wood Frame Const - Finish: Siding Roofing: Composition Floors: Laminate; Tile; Vinyl Sale Includes: Land & Building Community Features: No Pool Appliances Included: Free-Standing Electric Oven; Refrigerator Heating: Heat Pump Cooling: Heat Pump Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: None Parking Features: >1 Space Per Unit Road Surface Type: Asphalt Owner Pays: Water; Trash Collection Tenant Pays: Electricity Source of Fincl Data: Owner Lockbox Type: None New Financing: Cash; FHA; Conventional Environmental: None

Listing Office: Erickson Realty Group L.L.C.

Last Updated: August - 19 - 2026