326 N 18th Avenue, Phoenix, AZ 85007
- $379,700
- 5
- BD
- 3
- BA
- List Price
- $379,700
- Status
- ACTIVE UNDER CONTRACT
- Price Change
- ▼ $10,000 1785821780
- Days on Market
- 55
- MLS#
- 7055964
- City
- Phoenix
- Bedrooms
- 5
- Bathrooms
- 3
- Year Built
- 1926
Property Description
Income producing Duplex built in 1926 on a 8,700 square foot lot (0.2 acres) in the Oakland subdivision. One 2 bed 1 bath unit and one 1 bed 1 bath unit. Construction is masonry and reinforced concrete tilt up frame. Both units are currently leased and produce rental income. Zoning is R-5 (multiple family residential), and the lot sits directly beside 324 N 18th Ave, single family home, that is also rented, producing income and is also for sale, see MLS 7055892. Together, the two parcels total 0.4 acres of R-5 land, positioned for redevelopment into multiple rental units. 324 N 18th Ave and 326 N 18th Ave sit side by side, share R-5 zoning, and total 0.4 acres. Both properties generate income under current use, which lets a buyer hold and collect rent while pursuing entitlements. Buyer to confirm current development standards, parking requirements, and permitted density with the City of Phoenix Planning and Development Department. Buyer to perform all due diligence.
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Additional Information
- Taxes
- $928
- Net Operating Income
- $23,085
- Cap Rate
- 6.08
- Units
- 2
- Parking Features
- Carport
- Construction
- Block, Stucco
- Roofing
- Built-Up, Foam
- Cooling
- Central Air
- Heating
- Electric, Forced Air
- Zoning
- R-5
- Subdivision
- Oakland
- Community Features
- No Pool
- Electric
- APS
- Water
- City Franchise
- Tenant Pays
- Electricity, Gas
- New Financing
- Conventional, Cash
- Elementary School
- Capitol Elementary School
- Middle School
- Capitol Elementary School
- High School
- Central High School
Courtesy of Cadaci Realty. 623-866-4221
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