554 W RIO SALADO Parkway, Mesa, AZ 85201

• 2 beds |
• 1 bath |
• 1,342 sqft

Property 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 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!

Listing Status:

Active

Date Added:

January 23, 2026

Data Last Updated:

February 11, 2026 at 3:08PM

Listing Office:

West USA Realty : 480-820-3333

Listing Agent:

MARK S GUNNING : 602-359-7653

MLS ID:

6973576

Interior

• General: 3/4 Bath Master Bdrm
• Laundry: Other
• A/C: Central Air
• Heating: Electric

Exterior

• General: None

Construction

• Roofing: Composition
• General: Wood FramePainted

Location

• HOA Amenities: No Fees
• Originating MLS: Arizona Regional Multiple Listing Service 2
• School District: Mesa Unified District
• County: Maricopa

Lot

• Zoning: 13516041
• Fencing: Chain Link

Utilities

• Water: City Water
• Sewer: Public Sewer

Financial

• Source: Arizona Regional Multiple Listing Service 2