1005 E Moreland Street, Phoenix, AZ 85006
- $675,000
- 4
- BD
- 4
- BA
- List Price
- $675,000
- Status
- ACTIVE
- Price Change
- ▼ $24,000 1791513871
- Days on Market
- 54
- MLS#
- 7074894
- City
- Phoenix
- Bedrooms
- 4
- Bathrooms
- 4
- Year Built
- 1926
Property Description
Live in the main home while collecting $2,190/month in rental income from two tenant-occupied guest houses! Located in the heart of the Garfield Historic District, offers historic charm, flexible living and built-in income just minutes from Downtown Phoenix. The main residence features 2 bedrooms & 2 bathrooms with new flooring, new windows, remodeled bathrooms, & fresh interior & exterior paint. Unit 2 rents for $1,295/month with a lease through March 31, 2027, and Unit 3 rents for $895/month with a lease through July 31, 2027. A rare opportunity to enjoy a move-in-ready home while rental income helps offset your monthly housing costs. Ideal for an owner occupant, investor, or anyone looking for additional income potential in one of Downtown Phx's most established historic neighborhoods. Buyers exploring FHA or other low down payment owner-occupied financing may find this especially compelling, subject to lender and property eligibility requirements. For investors, the property offers three separate living spaces in one of Central Phoenix's most recognizable historic neighborhoods, with two units already producing income and additional upside through the vacant main residence. The configuration also works well for multigenerational living, extended family, or a combination of personal use and rental income. Located just minutes from Downtown Phoenix, Roosevelt Row, Banner University Medical Center, dining, entertainment, major employment centers, freeways, and Phoenix Sky Harbor International Airport, this is the type of central infill property that is increasingly difficult to replicate. Historic character, existing rental income, and multiple paths for occupancy make 1005 E Moreland St a standout opportunity for buyers looking to live, invest, or do both.
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Additional Information
- Taxes
- $906
- Net Operating Income
- $49,020
- Cap Rate
- 7.01
- Units
- 3
- Parking Features
- 1 Space/Unit, On Street, Off Street
- Construction
- Wood Frame, Painted, Stucco
- Roofing
- Composition
- Cooling
- Central Air, Ceiling Fan(s)
- Heating
- Natural Gas
- Zoning
- R-3
- Subdivision
- Brills Addition Amd
- Community Features
- No Pool
- Electric
- APS
- Water
- City Franchise
- Sewer
- Public Sewer
- Tenant Pays
- See Remarks
- New Financing
- VA Loan, FHA, Conventional, 1031 Exchange, Cash
- Elementary School
- Garfield School
- Middle School
- Garfield School
- High School
- Phoenix Union Bioscience High School
Courtesy of eXp Realty. 480-420-4455
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