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320 Hatcher Rd - Fully approved plans ready for development 0.88 Acres of Residential Land Offered at $674,900 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 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
|
$435,197.82
|
| Other Income |
$9,000
|
$10,231.92
|
| Vacancy Loss |
$19,140
|
$21,759.89
|
| Effective Gross Income |
$372,660
|
$423,669.85
|
| Taxes |
$40,000
|
$45,475.22
|
| Operating Expenses |
$40,785
|
$46,367.67
|
| Total Expenses |
$80,785
|
$91,842.88
|
| Net Operating Income |
$291,875
|
$331,826.97
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $382,800 |
| Annual Per AC | $435,197.82 |
| Other Income | |
|---|---|
| Annual | $9,000 |
| Annual Per AC | $10,231.92 |
| Vacancy Loss | |
|---|---|
| Annual | $19,140 |
| Annual Per AC | $21,759.89 |
| Effective Gross Income | |
|---|---|
| Annual | $372,660 |
| Annual Per AC | $423,669.85 |
| Taxes | |
|---|---|
| Annual | $40,000 |
| Annual Per AC | $45,475.22 |
| Operating Expenses | |
|---|---|
| Annual | $40,785 |
| Annual Per AC | $46,367.67 |
| Total Expenses | |
|---|---|
| Annual | $80,785 |
| Annual Per AC | $91,842.88 |
| Net Operating Income | |
|---|---|
| Annual | $291,875 |
| Annual Per AC | $331,826.97 |
Property Facts
| Price | $674,900 | Property Subtype | Residential |
| 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 | $674,900 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Multifamily |
| Total Lot Size | 0.88 AC |
| Zoning | R-5 - R-5, High Density Multi-Family |
1 Lot Available
Lot
| Price | $674,900 | Lot Size | 0.88 AC |
| Price Per AC | $767,288.43 |
| Price | $674,900 |
| Price Per AC | $767,288.43 |
| Lot Size | 0.88 AC |
R5 High Density Multifamily with fully approved plans
Description
Seller may consider seller financing. 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.
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
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