Multifamily Residential for sale in Phoenix, Arizona, 6534040

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Hatcher Heights was built in 1985 and is comprised of (12) 1-bedroom / 1-bathroom and (12) 2-bedroom / 1-bathroom units. The property is a 3-story building and has gone through many capital expenditures including a new parking lot, security gate, windows, multiple sections of plumbing and drain lines have been replaced and more. 16 Of the 24 units have been renovated or turned. Hatcher Heights features a fully renovated community laundry room as well as proof of concept for interior washer and dryers in 2 units. All units are individually metered for electricity and have the panels to support the installation of the remaining in-suite washer and dryers. With units turning and leasing quickly, this is an asset that is built for the long haul in an area that is continuously improving.

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Basic Information

Listing ID6534040

Price$3,960,000$240K

StatusActive

CountyMaricopa

Year Built1985

Property TypeMultifamily Residential

Property Sub Type13 - 24 Units

Primary Features

County Maricopa

Property Sub Type 13 - 24 Units

Property Type Multifamily Residential

Year Built 1985

Zoning R-5

Interior Features

1 Bedroom Units 12

1 Bedroom Units - Average SqFt 536

1 Bedroom Units - Number of Baths 1

2 Bedroom Units 12

2 Bedroom Units - Average SqFt 661

2 Bedroom Units - Number of Baths 1

Appliances Included Disposal, F/S Oven/Range, Microwave, Refrigerator, Washer/Dryer

Cooling Individual

Floors Vinyl

Heating Individual

Interior Amenities Fire/Smoke Alarm(s), Unfurnished

Total Units 24

External Features

Construction Frame - Wood

Exterior Amenities Cable TV Available, Desert Landscaping, Fenced, Security Light(s)

Exterior Finish Painted, Stucco

Lot Size Dimensions 139.57x136.29x139.65x136.85

Parking >1 Space Per Unit, Street Parking

Roofing Comp Shingle

Total Parking Spaces 30

Location Information

Country USA

Lot Number a

Map Code/Grid M34

Range 3E

Section 29

Township 3N

Additional

Community Amenities No Pool

Electric Individual Meter

Gas Individual Meter

Marketing Name Hatcher Heights

Owner Association No

Sewer Sewer - Public

Vacancy Allowance 0.04

Water City Franchise

Financial Details

1 Bedroom Units - Average Rent 995

2 Bedroom Units - Average Rent 1195

Adjusted Gross Income 337891.2

Contingency Type No

Financial Data Source Projected Proforma

Gross Annual Scheduled Income 333730

Net Operating Income 245713

New Financing Conventional

Operating Expense 7308

Other Income 18240

Owner Pays Landscaping, Sewer, Trash Collection, Water

Sale Includes Building(s) Only

Tax Municipality Phoenix

Taxes 7308

Tenant Pays Electric

Zoning Info

Contact - Listing ID 6534040

Mario Romero

Address: 1102 W. Portland St
Phoenix, AZ 85007
United States
Phone: 602-252-4191

Phone Alt: 602-920-0306

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© 2023 Arizona Regional Multiple Listing Service, Inc. All rights reserved. The data relating to real estate for sale on this website comes in part from the Arizona Regional Multiple Listing Service. Real estate listings held by brokerage firms other than Team Romero are marked with the Arizona Regional Multiple Listing Service logo and detailed information about them includes the name of the listing brokers. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Team Romero shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing data last updated Tuesday, May 30th, 2023 07:42:04 AM.

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