2444 E Willetta Street Unit 4, Phoenix, AZ 85008
- $750,000
- 6
- BD
- 4
- BA
- List Price
- $750,000
- Status
- ACTIVE
- Days on Market
- 49
- MLS#
- 7058509
- City
- Phoenix
- Bedrooms
- 6
- Bathrooms
- 4
- Year Built
- 1981
Property Description
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 upside while maintaining occupancy stability. 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 upside while maintaining occupancy stability. Each unit is equipped with central air conditioning, tile flooring, or laminate and white cabinetry, stainless steal appliances, 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. All facts and figures are approximate buyer verify MLS info Owner Broker
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Additional Information
- Taxes
- $1,050
- Net Operating Income
- $51,050
- Cap Rate
- 6.8100000000000005
- Units
- 4
- Parking Features
- Other
- Construction
- Wood Frame, Painted, Stucco
- Roofing
- Composition
- Cooling
- Central Air
- Heating
- Central
- Zoning
- R-3
- Subdivision
- Del Rey Lots 101-140
- Community Features
- Other
- Water
- City Franchise
- Tenant Pays
- Electricity
- New Financing
- VA Loan, FHA, Conventional, 1031 Exchange, Other (See Remarks), Cash
- Elementary School
- Creighton Virtual Academy
- Middle School
- Creighton Virtual Academy
- High School
- Camelback High School
Courtesy of Real Broker. 602-755-3415
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