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320 Hatcher Rd - Fully approved plans ready for development 0.88 Acres of Commercial Land Offered at $775,000 in Phoenix, AZ 85020
Investment Highlights
- Shovel ready, fully approved project awaiting a developer to pull permits.
Executive Summary
Shovel ready, fully approved project awaiting a developer to pull permits. Plan set conveys with sale. This 3 story, 24 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 11 garages, 20 additional surface parking spaces, 6 three bed/two bath, 14 two bed/one bath, and 6 one bed/one bath. The development consists of 24,000 square feet under roof.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per AC |
|---|---|---|
| Gross Rental Income |
$504,000
|
$572,987.72
|
| Other Income |
$11,700
|
$13,301.50
|
| Vacancy Loss |
$25,200
|
$28,649.39
|
| Effective Gross Income |
$490,500
|
$557,639.84
|
| Taxes |
$45,000
|
$51,159.62
|
| Operating Expenses |
$56,530
|
$64,267.85
|
| Total Expenses |
$101,530
|
$115,427.47
|
| Net Operating Income |
$388,970
|
$442,212.37
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $504,000 |
| Annual Per AC | $572,987.72 |
| Other Income | |
|---|---|
| Annual | $11,700 |
| Annual Per AC | $13,301.50 |
| Vacancy Loss | |
|---|---|
| Annual | $25,200 |
| Annual Per AC | $28,649.39 |
| Effective Gross Income | |
|---|---|
| Annual | $490,500 |
| Annual Per AC | $557,639.84 |
| Taxes | |
|---|---|
| Annual | $45,000 |
| Annual Per AC | $51,159.62 |
| Operating Expenses | |
|---|---|
| Annual | $56,530 |
| Annual Per AC | $64,267.85 |
| Total Expenses | |
|---|---|
| Annual | $101,530 |
| Annual Per AC | $115,427.47 |
| Net Operating Income | |
|---|---|
| Annual | $388,970 |
| Annual Per AC | $442,212.37 |
Property Facts
| Price | $775,000 | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | Multifamily |
| No. Lots | 1 | Total Lot Size | 0.88 AC |
| Property Type | Land | ||
| Zoning | R-5 - R-5, High Density Multi-Family | ||
| Price | $775,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Multifamily |
| Total Lot Size | 0.88 AC |
| Zoning | R-5 - R-5, High Density Multi-Family |
1 Lot Available
Lot
| Price | $775,000 | Lot Size | 0.88 AC |
| Price Per AC | $881,091.33 |
| Price | $775,000 |
| Price Per AC | $881,091.33 |
| Lot Size | 0.88 AC |
R5 High Density Multifamily with fully approved plans
Description
Plan set conveys with sale. This 3 story, 24 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 11 garages, 20 additional surface parking spaces, 6 three bed/two bath, 14 two bed/one bath, and 6 one bed/one bath. The development consists of 24,000 square feet under roof.
Moderately walkable
60/100
Moderately drivable
70/100
Some public transit
40/100
Moderately bikeable
70/100
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320 Hatcher Rd - Fully approved plans ready for development