338 E Portland Street, Phoenix, AZ 85004
- $3,380,000
- List Price
- $3,380,000
- Status
- ACTIVE
- Days on Market
- 42
- MLS#
- 6754543
- City
- Phoenix
- Year Built
- 1948
Property Description
This fully remodeled, 9-unit multi-family property is situated in the heart of the Roosevelt Arts District, offering immediate rental income while you plan a redevelopment project with high ROI potential. Zoned DTC-E-EV, this prime lot allows for up to 98 residential units or a mix of retail and boutique hotel space, with building heights up to 250 feet. Located in one of Phoenix's fastest-growing areas, close to public transit, dining, and entertainment, this property is perfect for investors looking to capitalize on the city's rapid development. Don't miss out on this rare opportunity to maximize your returns!
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Additional Information
- Taxes
- $2,140
- Net Operating Income
- $153,508
- Cap Rate
- 4.54
- Units
- 9
- Flooring
- Wood, Concrete
- Parking Features
- Paved Parking, Fee, Assigned, Auto Door Opener, Street Parking
- Construction
- Painted, Stucco, Brick, Frame - Wood
- Roofing
- Composition
- Cooling
- Central A/C, Electric
- Heating
- Central, Electric
- Zoning
- DTC-E-EV
- Subdivision
- East Evergreen Addn Blks 13, 14, 19, 20
- Community Features
- Play Area, No Pool
- Electric
- APS
- Water
- City Franchise
- Sewer
- Public Sewer
- Tenant Pays
- Electricity
- New Financing
- Conventional, 1031 Exchange, FHA
- School District
- Phoenix Union High School District
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Listing courtesy of HomeSmart.
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