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Opportunity Zone New Development 410 W Hadley St 3 Unit Apartment Building $889,900 ($296,633/Unit) 6.93% Cap Rate Phoenix, AZ 85003
Executive Summary
Appraisal in at $910,000. Market rents are $2,000 per month or $72,000 per year gross. Tenants pay electric. Located in an Opportunity Zone, this new development in Downtown Phoenix featuring 3 units with 2 bedroom, 2 bathrooms, and 3 garages. The exterior finish includes synthetic stucco, balconies, covered porches, each unit has a single car garage, and the electric is individually metered. $10,000 of landscaping and trees not reflected in photos. The interior features stainless steel GE appliances, washer/dryer included, quartz counters, shaker cabinets with gold hardware, LVP and tile throughout, energy efficient windows, and LED lighting. This property is located just South of Chase Field and Downtown Phoenix in a Walkable Urban District next to the newest Light Rail extension.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$72,000
|
$24.64
|
| Other Income |
$1,980
|
$0.68
|
| Vacancy Loss |
$3,411
|
$1.17
|
| Effective Gross Income |
$70,569
|
$24.15
|
| Taxes |
$3,500
|
$1.20
|
| Operating Expenses |
$5,400
|
$1.85
|
| Total Expenses |
$8,900
|
$3.05
|
| Net Operating Income |
$61,669
|
$21.11
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $72,000 |
| Annual Per SF | $24.64 |
| Other Income | |
|---|---|
| Annual | $1,980 |
| Annual Per SF | $0.68 |
| Vacancy Loss | |
|---|---|
| Annual | $3,411 |
| Annual Per SF | $1.17 |
| Effective Gross Income | |
|---|---|
| Annual | $70,569 |
| Annual Per SF | $24.15 |
| Taxes | |
|---|---|
| Annual | $3,500 |
| Annual Per SF | $1.20 |
| Operating Expenses | |
|---|---|
| Annual | $5,400 |
| Annual Per SF | $1.85 |
| Total Expenses | |
|---|---|
| Annual | $8,900 |
| Annual Per SF | $3.05 |
| Net Operating Income | |
|---|---|
| Annual | $61,669 |
| Annual Per SF | $21.11 |
Property Facts
| Price | $889,900 | Building Class | B |
| Price Per Unit | $296,633 | Lot Size | 0.15 AC |
| Sale Type | Investment | Building Size | 3,417 SF |
| Cap Rate | 6.93% | No. Stories | 2 |
| No. Units | 3 | Year Built | 2025 |
| Property Type | Multifamily | Parking Ratio | 0.88/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Townhome | ||
| Zoning | R-4 - R-4 High Density Multi-Family | ||
| Price | $889,900 |
| Price Per Unit | $296,633 |
| Sale Type | Investment |
| Cap Rate | 6.93% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Lot Size | 0.15 AC |
| Building Size | 3,417 SF |
| No. Stories | 2 |
| Year Built | 2025 |
| Parking Ratio | 0.88/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R-4 - R-4 High Density Multi-Family |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Heating
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Double Pane Windows
- Quartz Countertops
Site Amenities
- Smoke Free
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 3 | $2,000 | 1,139 |
1 1
Fairly walkable
50/100
Very drivable
80/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 112-17-019 | Total Assessment | $5,340 (2025) |
| Land Assessment | $5,340 (2025) | Annual Taxes | $3,500 ($1.02/SF) |
| Improvements Assessment | $0 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
112-17-019
Land Assessment
$5,340 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$5,340 (2025)
Annual Taxes
$3,500 ($1.02/SF)
Tax Year
2026
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Opportunity Zone New Development | 410 W Hadley St
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