545 E UNIVERSITY Drive, Mesa, AZ 85203, Mesa, 85203 - 3 bed, 2 bath
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Mesa, AZ 85203
This Commercial-to-Residential Conversion Asset is listed at $429,000, positioned above the $324,063 Fair Market Value due to its current office configuration. Carrying a Condition Rating of 5, the property requires a full interior renovation and kitchen installation to restore residential functionality. However, the Newly Renovated Exterior and six private parking spaces provide immediate curb appeal and utility. Situated in a High Visibility Location, it offers significant potential for a professional home-office setup. This is a strategic acquisition for Owner-Users or Value-Add Investors seeking a versatile Mesa property.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 545 E UNIVERSITY Drive Subject | $399,000* List Price | 3 | 2 | 1,425 | $238 | - |
A 829 E 9TH Place Sold | $435,000 | 3 | 2 | 1,789 | $243 | 0.7 mi |
B 708 E PEPPER Place Active | $350,000 List Price | 3 | 2 | 1,593 | $220 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1965 with no recent interior residential renovation. The property is currently configured as an office space and lacks a functional kitchen; interior finishes including carpet and paint are heavily worn, and bathrooms are dated. A full rehab is required to convert the asset back into a livable residence.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7788, living area = 1425.
The property offers unique flexibility, serving as either a professional office space or a residential home, appealing to a wide range of owner-users and investors.
Situated on a heavily trafficked road, the property provides excellent daily exposure and signage opportunities for a business while remaining centrally located in Mesa.
The location on a major thoroughfare may result in significant street noise and reduced privacy, which could be a drawback for traditional residential buyers.
Currently configured as an office, the property may require interior modifications and city verification to restore its full functionality and comfort as a primary residence.
Newly renovated exterior! This property offers an exceptional opportunity for a homeowner looking to turn this back into a home OR owner-users or investors seeking a well-located asset. It has been recently used as a small office for a mortgage firm but can accommodate other businesses or be turned into a home again (verify with city of Mesa). Situated on a heavily trafficked road, the property benefits from strong daily exposure and convenient access to surrounding business and residential areas. The building features fresh exterior paint, enhancing its curb appeal, along with attractive front yard landscaping complemented by low-maintenance desert plants. The property offers a functional parking layout with six private parking spaces located in the rear, as well as additional parking available in the front for clients and visitors.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,425 | 2,164.5 | 26% |
| Lot Size | 7,788 | 10,262.5 | 24% |
| Price | $399.0K | $399.0K | 50% |
| Price per sq ft | $280 | $202 | 79% |
| Built year | 1965 | 1983 | 21% |
| HOA | $0 | $0 | 50% |
| Days on market | 49 | 2320 | 3% |
May 29, 2026
$399,000
$429,000
-7% Price Drop
Initial Listing
May 1, 2026
$429,000
Initial Listing