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320 Hatcher Rd - Fully approved plans ready for development 0.68 Acres of Commercial Land Offered at $695,000 in Phoenix, AZ 85020
Executive Summary
Shovel ready, fully approved project awaiting a developer to pull permits. Plan set conveys with sale. This 2 story, 20 unit multi-family project is zoned as R-5 High Density Multi-Family located within the Hatcher District Overlay that allows restaurants, office, and retail within new developments. There are 10 garages, 20 additional surface parking spaces, 4 three bed/two bath, 6 two bed/two bath, 2 one bed/one bath, and 8 studios. The development consists of 16,396 square feet.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per AC |
|---|---|---|
| Gross Rental Income |
$382,800
|
$562,941.18
|
| Other Income |
$9,000
|
$13,235.29
|
| Vacancy Loss |
$19,140
|
$28,147.06
|
| Effective Gross Income |
$372,660
|
$548,029.41
|
| Taxes |
$40,000
|
$58,823.53
|
| Operating Expenses |
$40,785
|
$59,977.94
|
| Total Expenses |
$80,785
|
$118,801.47
|
| Net Operating Income |
$291,875
|
$429,227.94
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $382,800 |
| Annual Per AC | $562,941.18 |
| Other Income | |
|---|---|
| Annual | $9,000 |
| Annual Per AC | $13,235.29 |
| Vacancy Loss | |
|---|---|
| Annual | $19,140 |
| Annual Per AC | $28,147.06 |
| Effective Gross Income | |
|---|---|
| Annual | $372,660 |
| Annual Per AC | $548,029.41 |
| Taxes | |
|---|---|
| Annual | $40,000 |
| Annual Per AC | $58,823.53 |
| Operating Expenses | |
|---|---|
| Annual | $40,785 |
| Annual Per AC | $59,977.94 |
| Total Expenses | |
|---|---|
| Annual | $80,785 |
| Annual Per AC | $118,801.47 |
| Net Operating Income | |
|---|---|
| Annual | $291,875 |
| Annual Per AC | $429,227.94 |
Property Facts
| Price | $695,000 | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 0.68 AC |
| Property Type | Land | ||
| Zoning | R-5 - R-5, High Density Multi-Family | ||
| Price | $695,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 0.68 AC |
| Zoning | R-5 - R-5, High Density Multi-Family |
1 Lot Available
Lot
| Price | $695,000 | Lot Size | 0.68 AC |
| Price Per AC | $1,022,058.82 |
| Price | $695,000 |
| Price Per AC | $1,022,058.82 |
| Lot Size | 0.68 AC |
0.678 Acres of R-5 multifamily with approved plans to build 20 unit apartment complex
Walk Score®
Very Walkable (84)
Bike Score®
Very Bikeable (74)
Property Taxes
| Parcel Numbers | Total Assessment | $19,663 (2025) | |
| Land Assessment | $19,663 (2025) | Annual Taxes | $40,000 |
| Improvements Assessment | $0 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Numbers
Land Assessment
$19,663 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$19,663 (2025)
Annual Taxes
$40,000
Tax Year
2026
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320 Hatcher Rd - Fully approved plans ready for development
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