Listing MLS# 6869774 Phoenix AZ Real Estate

Please contact Barbara Baker at 928.301.0669 for more information on this property! I specialize in Phoenix AZ real estate, Roselawn Heights Lots 9-12 - Phoenix real estate for sale, Phoenix, AZ homes for sale and Phoenix real estate and Phoenix homes.

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1620 E Palm Lane Phoenix, AZ 85006 1620 E Palm Lane Phoenix, AZ 85006 1620 E Palm Lane Phoenix, AZ 85006 1620 E Palm Lane Phoenix, AZ 85006 1620 E Palm Lane Phoenix, AZ 85006 1620 E Palm Lane Phoenix, AZ 85006 1620 E Palm Lane Phoenix, AZ 85006 1620 E Palm Lane Phoenix, AZ 85006 1620 E Palm Lane Phoenix, AZ 85006 1620 E Palm Lane Phoenix, AZ 85006 1620 E Palm Lane Phoenix, AZ 85006 1620 E Palm Lane Phoenix, AZ 85006 1620 E Palm Lane Phoenix, AZ 85006 1620 E Palm Lane Phoenix, AZ 85006
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$995,000 | N/A beds | N/A full baths | N/A half baths | N/A sqft

$995,000 No Recent Price Change
1620 E Palm Lane
Phoenix, AZ 85006
  • N/ABeds
  • 0.00Total Baths
  • N/ASqFt
  • 1947Year Built
  • 0.00Acres
  • 78 yearsEst Age
  • MLS# 6869774
  • Multifamily
  • Multiple Dwellings
  • Active
Overview

1620 E Palm Ln presents an exceptional opportunity to acquire a turnkey asset in a historically significant area at an outstanding price. The property features 7 units, with 5 recently renovated and 4 units offering washer/dryer. With current rents and expenses, the investment is offered at a 6.3% cap rate, with additional optimization and growth potential.The asset is situated on a large 20,473-square-foot lot, with the current building footprint utilizing only a small portion, providing significant opportunity for future redevelopment or the addition of additional units.The existing income stream generates immediate cash flow, ensuring a strong return from day one. The current ownership has established a strong model for the remaining units, further enhancing the property's revenue.

Agriculture / Farm

Horse:  No

Association Fees / Info

Community Features:  Other, See Remarks

Hoa:  No

Bathroom Info

Building Info

Construction Materials:  Painted, Block

Roof:  Rolled/Hot Mop

Exterior Features

Pool Private:  No

Financial

Owner Pays:  Electricity,Trash Collection,Water,Landscaping

Gross Income:  95440.1

Insurance Expense:  3360

Maintenance Expense:  3776.99

Garage / Parking

Parking Features:  Paved, >1 Space Per Unit

Garage:  No

Attached Garage:  No

Interior Features

Flooring:  Ceramic Tile

Appliances:  Built-In Range, Refrigerator, Microwave, Washer/Dryer

Fireplace:  No

Lot Info

Lot Size:  69 Ft X 304 Ft

Number of Buildings:  2

Other School Info

Property Info

Road Surface Type:  Asphalt

Zoning:  88% R-3, 12% R-4

Property Attached:  No

Tax Info

Tax Legal Description:  ROSELAWN HTS PT OF LOT 10 E 67.5' OF W 337.5'

Tax Amount Annual:  1177.9

Unit Info

Total Units:  7

Utilities / Hvac

Water Source:  City Franchise

Electric:  APS

Cooling:  Yes

Cool System:  Window/Wall Unit

Heating:  Electric

Heating:  Yes

Sewer:  Public Sewer

Waterfront / Water

Water Front:  No

Schools

Elem:  William T Machan Elementary School

Listings courtesy of Orion Investment Real Estate  Broker Reciprocity

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On barbarabakerrealty.com since Thu, May 22nd 2025
No Property History recorded for this listing.
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Broker Reciprocity No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity. Listing Courtesy of Barbara Baker Realty LLC The data relating to real estate listings on this website comes in part from the Internet Data Exchange (IDX) program of Multiple Listing Service of Northern Arizona Association of REALTORS, Prescott Area Association of REALTORS and Arizona Regional Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listings provided by brokerages other than Compass are identified with the ARMLS logo. All Information Is Deemed Reliable But Is Not Guaranteed Accurate. All information should be verified by the recipient and none is guaranteed as accurate by ARMLSListing information Copyright © 2025 Northern Arizona Association of REALTORS, Prescott Area Association of REALTORS and Arizona Regional Multiple Listing Service, Inc. All Rights Reserved. Information was last updated: 10-01-2025 7:00 PM EST .

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