2444 E Willetta St - Multi-Family FOR SALE


Phoenix, AZ 85008- East Side
$850,000 USD
561-269-9525
2444 E Willetta St, Phoenix, AZ for Sale
$850,000 USD
Multi-Family - FOR SALE
1/45
null | 6.01% Cap Rate

2444 E Willetta St
Phoenix, AZ 85008
East Side


OVERVIEW

Four at Willetta is a stabilized, garden-style four-unit multifamily asset located in the highly desirable Biltmore/Arcadia corridor of Phoenix, Arizona. Constructed in the 1980s, the property offers a functional unit mix of two two-bedroom/one-bath units and two one-bedroom/one-bath units, catering to a broad tenant base in a high-demand rental submarket. The property has maintained 100% occupancy for nearly a decade, supported by long-term tenancy and consistent rental demand. Current in-place rents range from $1,100 to $1,350, presenting a clear value-add opportunity as market rents in the immediate area range from approximately $1,200 to $1,450. A new owner has the ability to implement a measured rental repositioning strategy to capture u upside while maintaining occupancy stability. Each unit is equipped with central air conditioning, tile flooring, and white cabinetry, and all units feature private backyard spaces--an amenity that differentiates the asset from competing properties and supports tenant retention. The property has undergone recent exterior capital improvements, including new paint, upgraded fencing and gates, modernized entry doors, enhanced lighting, and refreshed landscaping. Additionally, the seller is in the process of recoating the asphalt, further reducing near-term capital expenditure requirements. Positioned in one of Phoenix's most sought-after infill locations, the asset benefits from close proximity to the Biltmore financial district, Arcadia retail and dining, and major transportation corridors. Four at Willetta represents an opportunity to acquire a proven, cash-flowing asset with strong historical occupancy, minimal deferred maintenance, and the ability to drive revenue growth through rental adjustments in a supply-constrained submarket. Recent appraisal of $960,000 this is priced to sell. Owner/ Agent All facts and figures are approximate buyer verify MLS

FOR SALE DETAILS

PRICE

$850,000 USD

PRICE/SF

$378 USD /SF

# OF UNITS

4

PRICE/UNIT

$212,500

CAP RATE

6.01%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Four at Willetta

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1981

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,595 SF

ZONING

-

APN/PARCEL ID

121-78-035A

ASK ABOUT THIS PROPERTY

Sophia WilletsOne Sotherby'sMore Info
561-269-9525

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Sophia WilletsOne Sotherby'sMore Info
561-269-9525

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