Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Subdivision East Thomas Road Tract 5
MLS Listing ID 6744839
Originating Board Arizona Regional Multiple Listing Service (ARMLS)
Year Built 1986
Annual Tax Amount $1,674
Tax Year 2023
Lot Dimensions 0.146 acres / 6,362 sqft
Property Description
Strong Cap Rate: 6.71%, providing excellent returns.
Appraised at $1,000,000 before renovations were completed, offering instant equity potential.
Motivated Seller:
This beautifully remodeled fourplex, located in the sought-after Arcadia Lite area, is a standout investment opportunity. Featuring two spacious 1-bedroom, 1-bath units (700 sq ft each) and two large 2-bedroom, 2-bath units (1,100 sq ft each), the property has been completely overhauled, retaining only its original structure.
With three units already occupied, the upstairs units offer incredible flexibility for owner occupancy or leasing. Tenants cover all utilities through a RUB (Ratio Utility Billing) fee, ensuring steady income and
Location
State AZ
County Maricopa
Community East Thomas Road Tract 5
Zoning R4
Direction Corner of 27th St & Oak.
Interior
Heating Central, Electric, Ceiling
Cooling Ceiling Fan(s), Electric, Central A/C
Flooring Vinyl
Appliance F/S Oven/Range, Microwave, Washer/Dryer
Exterior
Parking Features Paved Parking, 1 Space/Unit, <1 Space Per Unit
Community Features No Pool
Roof Type Composition
Total Parking Spaces 5
Building
Sewer Public Sewer
Water City Franchise
New Construction No
Schools
Elementary Schools Creighton Elementary School
High Schools Phoenix Union Cyber High School
School District Phoenix Union High School District
Others
Senior Community No
Tax ID 120-33-022-B
Acceptable Financing No Carry, Conventional, 1031 Exchange, FHA, VA Loan
Listing Terms No Carry, Conventional, 1031 Exchange, FHA, VA Loan
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