Park Ridge offers the new investor the opportunity to acquire 10 units at a fraction of the replacement cost and at 61% of what the current owners bought it for in 2002. All units are large 2 bedroom 1 baths! Rents at Park Ridge are currently $525. Our proforma includes vacancy & losses accounting for 16.5% of the gross potential income (based on the $525 rents). Rents at Park Ridge and all the neighboring properties had been $650+ for two bedroom units. It is not hard to imagine a time in the near future where rents exceed those rent levels and vacancy rates get back to the 5% and 6% levels. Timing is the real opportunity with Park Ridge. Park Ridge is not a short sale and is not REO. We will reply immediately.
Multi-familyProperty Type
1972Year Built
0.32 acresLot Size
$356Est. Price/Sq.Ft.
20 spacesParking
Listed by Gregory Thielen• Berkadia Real Estate Advisors
Bought with Clay C. Layton• West USA Realty
Source:ARMLS #4362602
Redfin Estimate
$1,730,559
$981K since sold in March 2019
Recently sold homes
Estimate history
Homes for sale
This home's estimate is 132.7% higher than the average sale price ($744K) of 6 comparable homes.
Park Ridge offers the new investor the opportunity to acquire 10 units at a fraction of the replacement cost and at 61% of what the current owners bought it for in 2002. All units are large 2 bedroom 1 baths! Rents at Park Ridge are currently $525. Our proforma includes vacancy & losses accounting for 16.5% of the gross potential income (based on the $525 rents). Rents at Park Ridge and all the neighboring properties had been $650+ for two bedroom units. It is not hard to imagine a time in the near future where rents exceed those rent levels and vacancy rates get back to the 5% and 6% levels. Timing is the real opportunity with Park Ridge. Park Ridge is not a short sale and is not REO. We will reply immediately.
Public Records
Jul 11, 2002
Sold
$440,000
$90/sq ft
ARMLS #1745263
May 15, 2002
Sold
$440,000
$90/sq ft
Apr 23, 2002
Listing Removed
—
Feb 19, 2002
Listed
$460,000
$95/sq ft
GREAT MONEY MAKER!!! (NOTE CAP RATE). ALL 2 BEDROOM UNITS. NICE CURB APPEAL - FRONT IS DESERT LANDSCAPED BUYER TO VERIFY ALL INFORMATION (FINANCIALS, ETC.) TO OWN SATISFACTION.
Public Records
Jun 5, 2001
Sold
$460,000
$95/sq ft
Public Records
Jun 17, 1997
Sold
$10
$0/sq ft
Public Records
Jan 31, 1984
Sold
$580,000
$119/sq ft
Year
Property tax
Land + Additions
Assessment*
2025
$3,117 (+0.5%)
2024
$3,101 (−0.8%)
2023
$3,127 (+2.1%)
2022
$3,062 (−1.2%)
$17,440 + $69,780
$87,220
2021
$3,099 (+1.3%)
$15,230 + $60,940
$76,170
2020
$3,059 (+7.0%)
$14,230 + $56,940
$71,170
2019
$2,858 (+4.2%)
$9,960 + $39,850
$49,810
2018
$2,743 (+3.1%)
$9,960 + $39,850
$49,810
2017
$2,661 (+1.9%)
$7,710 + $30,870
$38,580
2016
$2,611 (+6.4%)
$7,210 + $28,870
$36,080
2015
$2,455 (−5.7%)
$6,310 + $25,250
$31,560
2014
$2,604 (+29.5%)
$4,890 + $19,590
$24,480
2013
$2,011 (+19.0%)
$3,290 + $13,180
$16,470
2012
$1,691 (−35.3%)
$3,060 + $12,270
$15,330
2011
$2,611 (+11.6%)
$4,920 + $19,710
$24,630
2010
$2,339 (−36.0%)
$5,560 + $22,260
$27,820
2009
$3,657
$9,480 + $37,920
$47,400
Tax history for 1809 E Broadway Rd
Year
Property tax
Land + Additions
Assessment*
2025
$3,117 (+0.5%)
2024
$3,101 (−0.8%)
2023
$3,127 (+2.1%)
2022
$3,062 (−1.2%)
$17,440 + $69,780
$87,220
2021
$3,099 (+1.3%)
$15,230 + $60,940
$76,170
2020
$3,059 (+7.0%)
$14,230 + $56,940
$71,170
2019
$2,858 (+4.2%)
$9,960 + $39,850
$49,810
2018
$2,743 (+3.1%)
$9,960 + $39,850
$49,810
2017
$2,661 (+1.9%)
$7,710 + $30,870
$38,580
2016
$2,611 (+6.4%)
$7,210 + $28,870
$36,080
2015
$2,455 (−5.7%)
$6,310 + $25,250
$31,560
2014
$2,604 (+29.5%)
$4,890 + $19,590
$24,480
2013
$2,011 (+19.0%)
$3,290 + $13,180
$16,470
2012
$1,691 (−35.3%)
$3,060 + $12,270
$15,330
2011
$2,611 (+11.6%)
$4,920 + $19,710
$24,630
2010
$2,339 (−36.0%)
$5,560 + $22,260
$27,820
2009
$3,657
$9,480 + $37,920
$47,400
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.
Zoning
RM-4
Residential Multiple Dwelling Districts 4
To provide areas for a variety of housing types at densities of up to 43 units per gross acre. Designators (-2, -3, -4, and -5) are used to denote variations in the maximum allowed development intensity (See Table 11-5-5). Appropriate types of dwelling units include small-lot single residences, townhouses, cluster housing, and multiple residence housing. This district also provides for residential care facilities, residential home-based day care, group residential homes, manufactured home parks and subdivisions, recreational vehicle parks and subdivisions, park and recreation facilities, limited and small-scale residential support (including limited scale mixed-use commercial) activities, and civic and institutional uses such as churches and places for religious assembly that are appropriate in a residential environment.
Permitted uses
Include but are not limited to:
Assembly / meeting place
Housing-Group
Housing-Single unit
Housing-Multiple units
Housing-Senior
Infrastructure
Bed & breakfast
Educational / school
Housing-Mobile home park
Park & open space
Property details
Interior
Heating & Cooling
Air Conditioning Type: Evaporative
Heating Type: Heat Pump
Exterior
Exterior Information
Construction Type: Steel/Wood
Building Construction Quality: Fair
Exterior Wall: Stucco
Building Type: Multi Family Low Rise
Building Improvement Type: Multi Family Low Rise
Property Information
Subdivision Name: REPLAT OF PARK RIDGE OF MESA AMD
Ground Floor Sq. Ft: 2,432
Building Sq. Ft: 4,864
# of Stories: 2
Legal Description: LOT 40 REPLAT OF PARK RIDGE OF MESA AMD
Lot Information
# of Buildings: 3
Land Sq. Ft: 14,024
Legal Lot Number: 40
Municipality Name: MESA
Acres: 0.3219
Zoning Code: RM-4
State Use Description: APTS 5 TO 24 UNITS
Financial
Assessor Information
Assessment Year: 2025
Public facts
Beds: —
Baths: —
Sq. Ft.: 4,864
Stories: 2.0
Lot Size: 0.32 acres
Style: Multi-Family (5+ Unit)
Year Built: 1972
Year Renovated: 1972
County: Maricopa County
APN: 13901145
Home facts updated by county records on Sep 26, 2026
Around this home
Schools
Longfellow Elementary School
Public PreK-6 • Assigned • 0.1mi
6/10
Poston Junior High School
Public 7-9 • Assigned • 1.6mi
4/10
Mesa High School
Public 9-12 • Assigned • 0.6mi
6/10
Provided by GreatSchools
Lifestyle
Provided by Walk Score and Local Logic
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
9/10 Heat Factor
7 days above 111° expected this year, 19 days in 30 years
1/10 Wind Factor
Minimal risk of severe winds over next 30 years
2/10 Air Factor
1 unhealthy days expected this year, 2 days in 30 years
Provided by First Street
Historical weather
Mesa, AZ • 85204
Average low and high temperatures (°F)
68
45
77
52
84
58
85
62
93
69
105
79
107
83
107
85
99
78
92
66
76
51
73
48
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
In this area, properties receive around 13.5 hours in
June and 7.7 hours in December, placing it above the
U.S. average for solar exposure.