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About the Listing mlso106 - cl539
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.
Listing Highlights for 1620 E Palm Ln
Status
Active
Days on Site
107
Property Type
Multi-Family
MLS ®
6869774
Year Built
1947
Total Square Footage
0
Lot/Acreage
N/A
County
Maricopa
Neighborhood
Roselawn Heights Lots 9-12
School District
Creighton Elementary District
Elementary School
William T Machan Elementary School
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond: Window/Wall Unit
- Heating: Electric
- Fireplaces:
- Floor: Ceramic Tile
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: City Franchise
Exterior Details
- Garage Capacity: N/A
- Roof: Rolled/Hot Mop
- Others:
- Sewer: Public Sewer
- Parking Features: Paved,>1 Space Per Unit
Financial Details
- Tax Amount: $1,178
- Taxes w/Assessments: N/A
- Tax/Property ID: 117-15-082
- Tax Year: 2024
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Years
% Down Payment
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Listing Location
Questions About..
1620 E Palm Ln Phoenix, AZ 85006
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