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1625-1629 W Fillmore St 8 Unit Apartment Building $1,285,000 ($160,625/Unit) 5.07% Cap Rate Phoenix, AZ 85007
Investment Highlights
- 8 Units, Garden-Style Property Built in 1959
- 1625 Fully Rebuilt From the Ground Up in 2023 With Permits, Including New Roof, HVACs, Electrical Panels, & Sewer Line
- Value-Add Opportunity With Room to Increase Rents to Market Rate on the Next Turn of Leases
- Consists of 100% 1-Bed / 1-Bath Units
- 1629 Features Three of Four Units With Updated Kitchens & Appliances, Plus Two New HVAC Systems
- Two Fourplexes Situated on Individual Parcels, Qualifying for Residential Financing Options, Individually Metered For Electricity
Executive Summary
1625 & 1629 W Fillmore St is an 8-unit property, on two parcels being sold together. All units are 1-bed/1-bath, individually metered for electric, and 100% occupied. 1625 was rebuilt in 2023 with permits, including new roof, HVACs, electrical panels, and sewer line. 1629 features three units with updated kitchens and appliances plus two new HVAC systems. Value-add opportunity to increase rents to market rate on the next turn of leases. Laundry facility on-site & covered parking for each unit. Centrally located near Downtown Phoenix, ASU's Downtown campus, and the Roosevelt Row Arts District, with easy access to I-10 and I-17 and minutes from Sky Harbor Airport.
Data Room Click Here to Access
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,285,000 | Building Class | C |
| Price Per Unit | $160,625 | Lot Size | 0.29 AC |
| Sale Type | Investment | Building Size | 4,352 SF |
| Cap Rate | 5.07% | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1959/2023 |
| Property Subtype | Apartment | Parking Ratio | 1.84/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | R-5 | ||
| Price | $1,285,000 |
| Price Per Unit | $160,625 |
| Sale Type | Investment |
| Cap Rate | 5.07% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 4,352 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1959/2023 |
| Parking Ratio | 1.84/1,000 SF |
| Zoning | R-5 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | 544 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Some public transit
50/100
Moderately bikeable
70/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 (2025) | |
| Land Assessment | $0 (2025) | Total Assessment | $15,500 (2025) |
Property Taxes
Parcel Numbers
Land Assessment
$0 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$15,500 (2025)
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1625-1629 W Fillmore St