$699,000

Description

Exceptional turn-key 4-unit multifamily investment opportunity in the heart of Phoenix! This fully remodeled 4-plex sits on nearly 1/2 acre and offers strong in-place cash flow with significant upside potential through rental increases, additional income opportunities, and future development potential. The property consists of: Two spacious 2 Bed / 1 Bath units Two remodeled 1 Bed / 1 Bath units Additional approximately 300 SF storage space Separate approximately 4,000 SF yard area with potential for RV parking, storage rental income, or future expansion All units have been extensively renovated top-to-bottom with modern finishes throughout with over $150K renovations which were completed in Jan 2025, including: Brand new kitchens Fully updated bathrooms New windows New appliances New water heaters installed January 2025 Unit Breakdown: Unit 1: Approx. 800 SF - 2 Bed / 1 Bath Units 2 & 3: Approx. 637 SF each - 1 Bed / 1 Bath Unit 4: Approx. 900 SF - 2 Bed / 1 Bath The property features individually metered electric service for all units and an impressive 12 parking spaces, providing ample room for tenant vehicles, work trucks, RVs, and guests. Currently fully occupied and generating approximately $4,500/month in rental income. Current rents are below market, providing immediate upside potential for increased cash flow through future rent adjustments. Additional revenue opportunities include leasing the storage space to existing tenants and creating RV parking rentals within the oversized lot. The large lot size and favorable layout also provide flexibility for future development opportunities and the potential to add additional units (buyer to verify with city/zoning requirements). Conveniently located just 1 minute from I-17 with easy access to Downtown Phoenix, Grand Canyon University, shopping, employment centers, and public transportation. Situated in a strong rental market area with continued growth and high tenant demand. Whether you are looking for a stable cash-flowing asset, value-add opportunity, or long-term development play, this property checks all the boxes. Buyer to verify all facts, figures, measurements, zoning, and future development potential.