1540 W MERCER Lane # 1-4 Phoenix, AZ ^$ 920,000

1540 W MERCER Lane # 1-4

^$ 920,000

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1540 W MERCER Lane # 1-4

Phoenix, AZ, 85029

^$ 920,000

Studio Baths0.0

Monthly Estimate*

^$ 5,665

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Studio

Multi-Family Home for sale in Phoenix, AZ

for $920,000. This home was built in 1984.

Great investment potential. 3 units have had long term tenents, one since 2017. 3% Vacancy rate over time mostly due to a complete rennovation of unit 4 in September 2025. All new wood plank tile, new bath tub surrounds, new bath room vanities, all new light fixtures and bathroom accessories. Completely renovated kitchen with updated shaker cabinets, counter top, kitchen sink and faucet. All units have in unit full size washer and dryer. The ground units have small back yard.

Multi-Family Active

Price

^$ 920,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

^$ 1,885

Style

Multiple Dwellings

Year Built

1984

Town/City

Phoenix

County/Region

Maricopa

MLS | Web ID

6994764

Features

General

Sewer Public Sewer

Heating Forced Air

Cooling Central Air

Roof Other

Zoning 4-plex

Construction Materials Wood Frame Stucco

Year Built 1984

Electric APS Individual Meter

Township 3N

Unit Number 1-4

Tax Year 2025

Ownership Fee Simple Fee Simple

Gross Income 53116.73

Community Features Pool

County Maricopa

Net Operating Income 39253.49

Operating Expense 14325.97

Insurance Expense 2701.17

New Construction N

Property Type Multiple Dwellings

Attached Garage N

Subdivision Name MUY FELICES CASAS LT 1-20 TR A-G

Garage Y/N N

Status Active

Directions Heading north on 19th Ave just north of Peoria take a right on Sahuaro Dr take a left of N 15th lane to enter into the complex unit on the North West corner of Mercer and 15th.

City Phoenix

Disclosures Seller Prop Disc Stm

High School District Glendale Union High School District

Open Parking Spaces 4.0

Number Of Units Total 4

Carport Y/N N

Tax Annual Amount 1885.0

Lease Renewal Y/N N

Additional Parcels Y/N N

Lease Considered Y/N N

Rent Control Y/N N

Standard Status Active

Occupancy Type Tenant

Elementary School District Washington Elementary School District

Tax Lot 8

Cap Rate 4.27

New Financing: Conventional True

Senior Community N

New Financing: FHA True

New Financing: Cash True

New Financing: VA True

Interior

Flooring Tile Carpet

Air Conditioning Y/N Y

Heating Y/N Y

Total Baths 0

Exterior

Parking Features Detached Carport Carport

Water Source Submetered System Master Meter

Total Parking 8.0

Number of Buildings 1

Spa N

Lot Dimensions 0.119

Road Surface Type Asphalt

Covered Spaces 4.0

Crops Included Y/N N

Irrigation Water Rights Y/N N

Internal Only

Street Number 1 1540

* Excluded Features

List By

Prosmart Realty

Broker

shelby@prosmartrealty.com

Affordability Calculator

$5,822

Per Month

Monthly Principal & Interest: $5,665
Monthly Property Taxes: $157
Monthly Home Insurance: --

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Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Multi-family listings in Phoenix, AZ

Average List Price ^$1,219,269

Percent of Sale Price 33%

About Phoenix, AZ

1,596,463 Population

20% Since 2002

^$51,132 Median Income

34.66 Median Age

32% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

4327134 Elementary School

4327258 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
3/6/2026	$920,000		Listed Price

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1540 W MERCER Lane # 1-4, Phoenix, AZ, 85029 is a Multi-Family Home for sale at $920,000. 1540 W MERCER Lane # 1-4 is a studio with 0.0 baths and was built in 1984. The property's zip code is 85029 which is in Phoenix, AZ

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of the Arizona Regional Multiple Listing Service, Inc. Real Estate listings held by brokerage firms (licensees) other than Weichert Realtors are marked with the ARMLS logo and detailed information about them includes the name of the listing brokers.

All information should be verified by the recipient and none is guaranteed as accurate by ARMLS.

The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Data is updated as of 4/25/2026.

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1540 W MERCER Lane # 1-4

Multi-Family Home for sale in Phoenix, AZ

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