AZ > Phoenix > Roselawn Heights Lots 9-12
Phoenix, AZ 85006,1620 E PALM Lane
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Phoenix, AZ 85006,1620 E PALM Lane
Phoenix, AZ 85006,1620 E PALM Lane
Phoenix, AZ 85006,1620 E PALM Lane
Phoenix, AZ 85006,1620 E PALM Lane
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Elissa Jeffries

Elissa Jeffries

+1(623) 297-9388
$ 1,000,000
Est. payment /mo
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1620 E PALM Lane Phoenix, AZ 85006

UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Subdivision Roselawn Heights Lots 9-12

MLS Listing ID 6869774

Maintenance Fees $3,776

Year Built 1947

Annual Tax Amount $1,177

Tax Year 2024

Lot Dimensions 69 Ft X 304 Ft

Source Arizona Regional Multiple Listing Service (ARMLS)

Property Description

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.

Location

State AZ

County Maricopa

Community Roselawn Heights Lots 9-12

Interior

Heating Electric

Cooling Window/Wall Unit

Flooring Ceramic Tile

Appliance Built-In Range, Refrigerator, Microwave, Washer/Dryer

Exterior

Parking Features Paved, >1 Space Per Unit

Community Features Other, See Remarks

Roof Type Rolled/Hot Mop

Total Parking Spaces 10

Building

Sewer Public Sewer

Water City Franchise

New Construction No

Schools

Elementary Schools William T Machan Elementary School

School District Phoenix Union High School District

Others

Senior Community No

Tax ID 117-15-082

Acceptable Financing Conventional, 1031 Exchange

Listing Terms Conventional, 1031 Exchange

Arizona Regional MLS (ARMLS)

Copyright 2025 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

Listed by Orion Investment Real Estate
agent

Elissa Jeffries

Agent | SASA523757000

+1(623) 297-9388

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1620 E PALM Lane

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