554 W RIO SALADO Parkway, Mesa, AZ 85201

$595,000
Property Type: Residential Bedrooms: 2 Baths: 1 Square Footage: 1,342 Lot Size (sq. ft.): 19,922 Status: Active
Current Price: $595,000 Last Modified: 2/02/2026

Description

This expansive lot is zoned Multi‑Family (MF), currently, offering incredible flexibility for your future. The existing home needs a full renovation with the potential, to add additional units in the back in the future redevelop. Located in a close knit family oriented community, the property is within walking distance to Elementary, Junior High and High Schools. Listing agent can provide general contractor information to assist with remodel completion. There is only $100K allowance included in this price! At this stage Buyer can be involved in selection items/upgrades. A renewed permit is necessary as owner has demolition permit in process, that would need revoked, if Buyer wants to remodel and live in the home. The home may need additional funds according to Buyer's upgrades. SEE

Supplements: The $100k is an estimate only, BEWARE! This is an entire remodel, to become FHA approved for finance. The current structure is being sold as-is, with the value primarily in the land and the current condition of the home needs a full remodel!! Ideal for builders, investors, or buyers looking to renovate or redevelop. Buyer to perform all due diligence regarding zoning, permits, and future use. Please reach out to discuss. A rare chance to restore or reimagine this home on this desirable lot. This project is offering a blank canvas for customization, expansion, or redevelopment. Perfect for buyers seeking a project in a sought-after location. Seller makes no representations regarding condition of the structure. Utilities, systems, and appliances have not been tested. Buyer responsible for verifying all development possibilities. Location Highlights: "Centrally situated near Mesa Riverview and Tempe Marketplace "Only 5 miles to ASU campus. "Easy access to Loop 101 and Loop 202 freeways "Just down the street from the Chicago Cubs Spring Training Stadium "Surrounded by shopping, dining, and entertainment options Whether you choose to renovate, redevelop, or pursue the four plex plans, townhome lots, this property offers exceptional potential in a thriving area. A rare opportunity to capitalize on Mesa's growth with multiple exit strategies available!

More Information MLS# 6973576

Contract Information

Type: Exclusive Right To Sell Ownership: Fee Simple Co-Ownership (Fractional) Agreement YN: No List Price: $595,000 Status: Active Current Price: $595,000 List Date: 2026-01-23

Location, Tax & Legal

Assessor's Map #: 16 Legal Description (Abbrev): S 330' OF E 66' OF W 132' SW4 SE4 NE4 EX S 36' RD .50 AC Assessor's Parcel #: 41 Tax Municipality: Mesa Taxes: 1066 House Number: 554 Compass: W Street Name: RIO SALADO St Suffix: Parkway City/Town Code: Mesa State/Province: AZ Zip Code: 85201 Zip4: 4008 County Code: Maricopa Assessor Number: 135-16-041 Subdivision: unknown Tax Year: 2025

General Property Description

Dwelling Styles: Detached # of Interior Levels: 1 Full Bathrooms: 1 Half Bathrooms: 0 Approx SQFT: 1342 Price/SqFt: 443.37 Approx Lot SqFt: 19922 Approx Lot Acres: 0.457 Horses: N Builder Name: unknown Lead Based Hazard Disclosure: No Elementary School District: Mesa Unified District High School District: Mesa Unified District Elementary School: Emerson Elementary School Jr. High School: Carson Junior High School High School: Westwood High School Community Pool Y/N: No Private Pool Y/N: No Fireplace YN: No Dwelling Type: Single Family Residence Exterior Stories: 1 # Bedrooms: 2 Total Bathrooms: 1 Year Built: 1947

Legal Info

Range: 5E Section: 16 Township: 1N Lot Number: unk

Special Listing Cond

N/A: 1

Construction

Wood Frame: 1

Const - Finish

Painted: 1

Roofing

Composition: 1

Association & Fees

HOA Y/N: N PAD Fee Y/N: N Land Lease Fee Y/N: N Ttl Mthly Fee Equiv: 0

Showing Notification Methods

Showing Service: Aligned Showings Text: 1 Email: 1 Phone Call: 1

Lockbox Type

Combo: 1

Master Bathroom

3/4 Bath Master Bdrm: 1

Dining Area

Other (See Remarks): 1

Heating

Electric: 1

Kitchen Features

220 Volts in Kitchen: 1

Cooling

Central Air: 1

Laundry

Other: 1

Basement

Basement Y/N: N

Separate Den/Office

Sep Den/Office Y/N: N

Fencing

Chain Link: 1

Water Source

City Water: 1

Spa

None: 1

Sewer

Sewer - Public: 1

Parking Spaces

Slab Parking Spaces: 2 Total Covered Spaces: 2 Carport Spaces: 2

New Financing

Cash: 1 VA: 1 Conventional: 1 Owner May Carry: 1 Trade: 1

Utilities

SRP: 1

Existing 1st Loan

Treat as Free&Clear: 1

Landscaping

Dirt Front: 1 Dirt Back: 1

Contact Info

List Agent Home Phn: 480-776-3176

Disclosures

None: 1

Possession

Close of Escrow: 1

Association Fee Incl

No Fees: 1

Assoc Rules/Info

None: 1

Remarks Misc

Cross Street: Rio Salado and Country Club Directions: North 202 freeway to Alma School exit, go South to Rio Salado Pkwy and turn left. Property is approximately 3/4 mile on your left. Geo Lat: 33.430092 Geo Lon: -111.843721

Property Features

Special Listing Cond: N/A Master Bathroom: 3/4 Bath Master Bdrm Spa: None Dining Area: Other (See Remarks) Kitchen Features: 220 Volts in Kitchen Laundry: Other Construction: Wood Frame Const - Finish: Painted Roofing: Composition Cooling: Central Air Utilities: SRP Water Source: City Water Sewer: Sewer - Public Fencing: Chain Link Landscaping: Dirt Front; Dirt Back Showing Notification Methods: Text; Email; Phone Call Lockbox Type: Combo Possession: Close of Escrow Association Fee Incl: No Fees Existing 1st Loan: Treat as Free&Clear New Financing: Cash; VA; Conventional; Owner May Carry; Trade Disclosures: None
Listing Office: West USA Realty
IDX
Last Updated: February - 02 - 2026
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