2301 N 27TH Street, Phoenix, AZ 85008
$1,060,000
Property Type:
Multiple Dwellings
Status:
Active
Current Price:
$1,060,000
Last Modified:
1/18/2025
Description
Exceptional Fourplex - Turnkey Investment with Strong Returns!
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
More Information MLS# 6744839
Contract Info
Current Price: $1,060,000
List Price: $1,060,000
Status: Active
List Date: 2024-08-16
Ownership: Fee Simple
Location Tax Legal
House Number: 2301
Compass: N
Street Name: 27TH
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85008
Zip4: 1900
Country: USA
County Code: Maricopa
Subdivision: EAST THOMAS ROAD TRACT 5
Assessor Number: 120-33-022-B
Tax Year: 2023
General Property Description
Lot Size Dimensions: 0.146 acres / 6,362 sqft
Year Built: 1986
Uncvrd Parking Spcs: 5
Total # of Units: 4
# of Buildings: 1
Zoning: R4
Flood Zone: No
Elementary School District: Creighton Elementary District
High School District: Phoenix Union High School District
Elementary School: Creighton Elementary School
High School: Phoenix Union Cyber High School
Remarks Misc
Cross Street: 24TH ST & OAK ST
Directions: Corner of 27th St & Oak.
Geo Lat: 33.47329
Geo Lon: -112.023525
Status Change Info
Status Change Date: 2024-08-16
Legal Info
Township: 2N
Range: 3E
Section: 35
Lot Number: 200
Income Expenses
Gross Annual Sch Inc: 73200
Net Operating Income: 71780
Showing Notification Methods
Showing Service: Aligned Showings
1 Bedroom Units
# 1 Bedroom Units: 2
Avg Rent: 1300
Avg SqFt: 700
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 2
Avg Rent: 1750
Avg SqFt: 1100
# Baths: 2
Property Features
Project Type: Four Plex
Construction: Block; Frame - Wood
Const - Finish: Painted; Stucco
Roofing: Comp Shingle
Floors: Vinyl
Sale Includes: Land & Building
Community Amenities: No Pool
Exterior Amenities: Desert Landscaping
Interior Amenities: Unfurnished
Appliances Included: F/S Oven/Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer
Heating: Ceiling; Central
Cooling: Ceiling Fan(s); Electric; Central A/C
Water: City Franchise
Sewer: Sewer - Public
Electric: SRP; Individual Meter
Gas: SW Gas; Individual Meter
Parking: <1 Space Per Unit; 1 Space/Unit; Paved Parking
Owner Pays: Landscaping; See Remarks
Tenant Pays: Water; Sewer; Electric; Gas; Trash; Cable TV
Source of Fincl Data: Provided by Owner; Other (See Remarks)
Special: Owner/Agent
Lockbox Type: Mech-box / Combo
Existing 1st Loan: Conventional
New Financing: Cash; VA; FHA; Conventional; No Carry; 1031 Exchange
Environmental: None
Listing Office: Nexthome Prime Real Estate
Last Updated: January - 18 - 2025
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