$4,000,000
Phoenix, AZ 85008
MLS# 7048772
1 / 10
Property Description
20% PRICE REDUCTION. Originally developed in 1960, the property's unit mix features a desirable blend of one studio (±4%) and spacious one-bedroom (±35%) and two-bedroom (±61%) floorplans covering an average of ±728 square feet. Future ownership will have the opportunity to implement an interior renovation program to upgrade the remaining classic units and capitalize on the associated interior renovation premium already proven in the immediate area.
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $4,000,000
List Price: $4,000,000
Status: Active
List Date: 2026-07-01
Location, Tax & Legal
Assessor's Map #: 3
Assessor's Parcel #: 23
Add'l Parcels: No
Tax Municipality: Phoenix
Taxes: 10823.72
Legal: The North 75.00 feet of that portion of the Northwest quarter of Section 1, Township 1 North, Range 3 East, of the Gila
Marketing Name: Willetta
House Number: 1412
Compass: N
Street Name: 35th
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85008
Country: US
County Code: Maricopa
Assessor Number: 121-03-023
Tax Year: 2025
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 45
Lot Size Dimensions: 40,511
Flood Zone: No
Total # of Units: 28
Elementary School District: Creighton Elementary District
High School District: Phoenix Union High School District
Year Built: 1960
Zoning: R-4
Project Type
25 - 50 Units: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Ceramic Tile: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 7267.41
Annual Gas Exp: 1028.89
Annual Ins Exp: 18107.04
Annual Land Lse Exp: 0
Annual Landscape Exp: 4140.67
Annual Legal & Acctg: 1446
Annual Maint Exp: 27026.89
Annual Mgmt Exp: 20815
Annual Trash Exp: 19334.15
Annual Wtr/Swr Exp: 19336.35
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 7000
Annual Other Expense: 17183
Operating Exp: 153509.12
Other Income: 103973
Vacancy Allowance: 0.06
Adjusted Gross Inc: 477811.4
Total Monthly Rental Income: 30703
Pmt & Rate Info
Cap Rate: 6.38
Down Payment: 1400000
Equity: 4000000
Down Payment %: 35
Monthly Payments: 15588
Total Owed: 0
Showing Notification Methods
Showing Service: No Showing Service Used
Text: 1
Email: 1
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Electric: 1
Individual: 1
Cooling
Central Air: 1
Electric: 1
Individual: 1
Exterior Amenities
Desert Landscaping: 1
Tenant Pays
Electricity: 1
Cable TV: 1
Appliances Included
Free-Standing Electric Oven: 1
Refrigerator: 1
Washer/Dryer: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Master Meter: 1
Sewer
Sewer - Public: 1
Parking Features
>1 Space Per Unit: 1
Electric
SRP: 1
Gas
SW Gas: 1
Owner Pays
Water: 1
Sewer: 1
Gas: 1
Trash Collection: 1
Landscaping: 1
New Financing
Conventional: 1
No Carry: 1
1031 Exchange: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Efficiency Units
# Efficiency Units: 1
Avg Rent: 899
Avg SqFt: 500
# Baths: 1
1 Bedroom Units
# 1 Bedroom Units: 10
Avg Rent: 1100
Avg SqFt: 660
# Baths: 10
2 Bedroom Units
# 2 Bedroom Units: 17
Avg Rent: 1182
Avg SqFt: 781
# Baths: 17
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Geo Lat: 33.463462
Geo Lon: -112.007067
Legal Info
Lot Number: Ukn
Income Expenses
Gross Annual Sch Inc: 404337
Net Operating Income: 255219
Property Features
Project Type: 25 - 50 Units
Construction: Block
Const - Finish: Painted
Roofing: Composition
Floors: Ceramic Tile
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Desert Landscaping
Appliances Included: Free-Standing Electric Oven; Refrigerator; Washer/Dryer
Heating: Individual
Cooling: Electric; Individual; Central Air
Water Source: City Franchise; Master Meter
Sewer: Sewer - Public
Electric: SRP
Gas: SW Gas
Parking Features: >1 Space Per Unit
Road Surface Type: Asphalt
Owner Pays: Water; Gas; Trash Collection; Landscaping
Tenant Pays: Electricity; Cable TV
Source of Fincl Data: Owner
Showing Notification Methods: Text; Email
Lockbox Type: None
New Financing: Conventional; No Carry; 1031 Exchange
Environmental: None
Listing Office: Marcus & Millichap
Last Updated: July - 01 - 2026
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