For sale
  • Price cut: $5K (8/14)
    $995,000

    1620 E Palm Ln, Phoenix, AZ 85006

    1beds
    7baths
    2,776sqft
    : 
    Multi Family
    Built in 1947
    -- sqft lot
    $-- Zestimate®
    $358/sqft
    $-- HOA

    What's special

    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.
    93 days
    on Zillow
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    214
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    8
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