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1421 E Fillmore St - 1421 E Fillmore St 4 Unit Apartment Building Offered at $850,000 at a 5.85% Cap Rate Phoenix, AZ 85006
Investment Highlights
- 4 Units | Built in 1983
- Average Unit Size: ±765 SF
- 3 of 4 Units Currently Occupied with Month-to-Month Tenants
- Unit Mix: (4) 2+1
- Oversized Lot w/ Potential to Build Additional Units
Executive Summary
1421 E Fillmore is a well-maintained 4-unit apartment community located in the Garfield Submarket of Phoenix, AZ. Built in 1983, the property is comprised entirely of 2-bedroom, one-bath units averaging 765 Sq Ft. Each of the units have been updated to various levels by current ownership, with the most recently remodeled unit renting for $1,425; however future ownership will be able to capture additional upside through further interior and exterior upgrades. Additionally, the property sits on an over-sized .25 acre lot, which may allow for additional units to be built.
The Garfield submarket has seen continued demand driven by its proximity to Downtown Phoenix, major employment centers, and expanding light-rail infrastructure. 1421 E Fillmore St presents a compelling opportunity to acquire a value-add asset in a centralized, high growth location, with both immediate income potential and long-term upside.
Broker of Record
David Harrington
License # CO701910000 (AZ)
Matthews Real Estate Investment Services, Inc
4110 N Scottsdale Rd Suite 100, Scottsdale, AZ 85251
(866) 889-0550
The Garfield submarket has seen continued demand driven by its proximity to Downtown Phoenix, major employment centers, and expanding light-rail infrastructure. 1421 E Fillmore St presents a compelling opportunity to acquire a value-add asset in a centralized, high growth location, with both immediate income potential and long-term upside.
Broker of Record
David Harrington
License # CO701910000 (AZ)
Matthews Real Estate Investment Services, Inc
4110 N Scottsdale Rd Suite 100, Scottsdale, AZ 85251
(866) 889-0550
Property Facts
| Price | $850,000 | Lot Size | 0.25 AC |
| Price Per Unit | $212,500 | Building Size | 2,640 SF |
| Sale Type | Investment | Average Occupancy | 75% |
| Cap Rate | 5.85% | No. Stories | 1 |
| No. Units | 4 | Year Built | 1983 |
| Property Type | Multifamily |
| Price | $850,000 |
| Price Per Unit | $212,500 |
| Sale Type | Investment |
| Cap Rate | 5.85% |
| No. Units | 4 |
| Property Type | Multifamily |
| Lot Size | 0.25 AC |
| Building Size | 2,640 SF |
| Average Occupancy | 75% |
| No. Stories | 1 |
| Year Built | 1983 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | $1,280 | - |
1 1
Moderately walkable
60/100
Very drivable
80/100
Some public transit
50/100
Moderately bikeable
60/100
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1421 E Fillmore St - 1421 E Fillmore St
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