1005 E Moreland Street, Phoenix, AZ 85006
- $699,000
- 4
- BD
- 4
- BA
- List Price
- $699,000
- Status
- ACTIVE
- Days on Market
- 1
- MLS#
- 7074894
- City
- Phoenix
- Bedrooms
- 4
- Bathrooms
- 4
- Year Built
- 1926
Property Description
NEW FLOORING | NEW WINDOWS | REMODELED BATHROOMS | FRESH INTERIOR & EXTERIOR PAINT | GARFIELD HISTORIC DISTRICT | 3 UNITS | 2 RENTED AT MARKET RATE | HOUSE HACK OPPORTUNITY A rare opportunity in the heart of the Garfield Historic District, this three-unit property offers flexibility for both investors and owner-occupants. The main 2-bedroom, 2-bath residence is currently vacant and features new flooring, new windows, remodeled bathrooms, and fresh interior and exterior paint. Two additional casita units are currently rented at market rate, providing immediate income from day one. For an owner-occupant, this setup creates an ideal house hack opportunity. Live in the main home while collecting rent from the two existing units to help offset the monthly mortgage payment. 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
- 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.
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