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2828 E Tierra Buena Ln - 2828 East Tierra Buena Lane 4 Unit Apartment Building Offered at $593,000 at a 5.48% Cap Rate Phoenix, AZ 85032
Investment Highlights
- 4 Units, Built in 1982, Garden-Style Property Located Within the Palomino Pointe HOA
- Value-Add Opportunity Through Additional Interior & Exterior Remodel
- Townhome-Style Layout in Select Units With Living Areas Downstairs & Bedrooms Upstairs, Each Unit Includes One Covered Parking Space
- Unit Mix Consists of (1) 1-Bed / 1-Bath, (1) 2-Bed / 1-Bath, (1) 2-Bed / 2-Bath & (1) 3-Bed / 3-Bath Units
- Interior & Exterior Improvements Include Some New HVAC Systems (2025), Updated Cabinets in Select Units, Updated Flooring in Select Units
Executive Summary
4-unit multifamily property located within the Palomino Pointe HOA in North Phoenix. Built in 1982. Unit mix consists of (1) 1-Bed / 1-Bath, (1) 2-Bed / 1-Bath, (1) 2-Bed / 2-Bath, and (1) 3-Bed / 3-Bath units. Interior and exterior improvements include new HVAC systems (2025), updated cabinets in select units, updated flooring in select units, and updated interior paint. Each unit includes one covered parking space with additional guest parking available. HOA amenities include pool, common areas, trash collection, landscaping, and pool maintenance. Convenient access to SR-51, Loop 101, and nearby retail.
Data Room Click Here to Access
- Operating and Financials
- Miscellaneous
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| 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 | - |
| Annual Per SF | - |
| 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
Amenities
Site Amenities
- Pool
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $900.00 | 650 |
| 2+1 | 1 | $1,000 | 890 |
| 2+2 | 1 | $1,030 | 960 |
| 3+3 | 1 | $1,300 | 1,118 |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
20/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 214-39-085 | Improvements Assessment | $0 (2025) |
| Land Assessment | $0 (2025) | Total Assessment | $13,700 (2025) |
Property Taxes
Parcel Number
214-39-085
Land Assessment
$0 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$13,700 (2025)
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2828 E Tierra Buena Ln - 2828 East Tierra Buena Lane
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