554 W RIO SALADO Parkway -

Mesa, AZ 85201

Prime Multi‑Family lot opportunity in Mesa! This very large lot is zoned Multi‑Family, offering incredible flexibility for investors and developers. Renovate the existing home, which is still an option, and add more units! Prime to build a brand‑new multi‑family property. Preliminary plans for a four‑plex and five plex have already been initiated and are available in the doc tab, giving a head start on design ideas. The property has already undergone the Development Incentive Permit (DIP) review with the City of Mesa, receiving pre‑approval from the City Council for the 4 unit version. Only a few final steps remain to complete the DIP process and advance to full plan review with the Planning and Development Department. Seller will give ample time to go through the approval process. Owner met with the City of Mesa to request building 5 units instead of 4 units, with 3 bd/2 bth plans, with garages and the meeting was conceptually approved. Listing agent has further details and information regarding the timing from here! All plans are "subject to" the City of Mesa's final approval. Seller has met with the Senior Economic Development Project Manager for Development Services, who has intricate personal knowledge of this site and history of the area, an amazing resource who is very helpful in this redevelopment project! 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 courtesy of West USA Realty.



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Last checked: 2026-04-17 11:59 PM UTC