1625-1629 W Fillmore St - Apartments FOR SALE


Phoenix, AZ 85007- Grand
$1,285,000 USD
602-714-1297
1625-1629 W Fillmore St, Phoenix, AZ for Sale
$1,285,000 USD
Apartments - FOR SALE
1/27
null | 5.07% Cap Rate

1625-1629 W Fillmore St
Phoenix, AZ 85007
Grand


HIGHLIGHTS

  • 8 Units, Garden-Style Property Built in 1959
  • Consists of 100% 1-Bed / 1-Bath Units
  • 1625 Fully Rebuilt From the Ground Up in 2023 With Permits, Including New Roof, HVACs, Electrical Panels, & Sewer Line
  • 1629 Features Three of Four Units With Updated Kitchens & Appliances, Plus Two New HVAC Systems
  • Value-Add Opportunity With Room to Increase Rents to Market Rate on the Next Turn of Leases
  • Two Fourplexes Situated on Individual Parcels, Qualifying for Residential Financing Options, Individually Metered For Electricity

OVERVIEW

1625 & 1629 W Fillmore St is an 8-unit property, on two parcels being sold together. All units are 1-bed/1-bath, individually metered for electric, and 100% occupied. 1625 was rebuilt in 2023 with permits, including new roof, HVACs, electrical panels, and sewer line. 1629 features three units with updated kitchens and appliances plus two new HVAC systems. Value-add opportunity to increase rents to market rate on the next turn of leases. Laundry facility on-site & covered parking for each unit. Centrally located near Downtown Phoenix, ASU's Downtown campus, and the Roosevelt Row Arts District, with easy access to I-10 and I-17 and minutes from Sky Harbor Airport.

FOR SALE DETAILS

PRICE

$1,285,000 USD

PRICE/SF

$268 USD /SF

# OF UNITS

8

PRICE/UNIT

$160,625

CAP RATE

5.07%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1959

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.29 AC

LAND SF

12,500 SF

ZONING

R-5

APN/PARCEL ID

111-26-052,111-26-053

ASK ABOUT THIS PROPERTY

Tom PalestinaABI MultifamilyMore Info
602-714-1297

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Tom PalestinaABI MultifamilyMore Info
602-714-1297

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.