1620 E Palm Ln presents an exceptional opportunity to acquire a turnkey asset in a historically significant area at an outstanding price. The property features 7 units, with 5 recently renovated and 4 units offering washer/dryer. With current rents and expenses, the investment is offered at a 6.3% cap rate, with additional optimization and growth potential.
The asset is situated on a large 20,473-square-foot lot, with the current building footprint utilizing only a small portion, providing significant opportunity for future redevelopment or the addition of additional units.
The existing income stream generates immediate cash flow, ensuring a strong return from day one. The current ownership has established a strong model for the remaining units, further enhancing the property's revenue.
For sale
Price cut: $5K (8/14)
$995,000
1620 E Palm Ln, Phoenix, AZ 85006
1beds
7baths
2,776sqft
Est.:
Multi Family
Built in 1947
-- sqft lot
$-- Zestimate®
$358/sqft
$-- HOA
What's special
- 93 days
- on Zillow |
- 214 |
- 8 |
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