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Opportunity Zone New Development 410 W Hadley St 3 Unit Apartment Building $889,900 ($296,633/Unit) 7.56% Cap Rate Phoenix, AZ 85003
Executive Summary
Appraisal in at $910,000. Market rents are $1,995 per month with $45 per month in RUBS or $73,440 per year gross. Tenants pay electric. Certificate of Occupancy in progress. Located in an Opportunity Zone, this new development in Downtown Phoenix featuring 3 units at 1,139 SF each, 3,417 SF total, 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. 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 with $10,000 in landscaping just installed.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$71,820
|
$24.58
|
| Other Income |
$1,620
|
$0.55
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$73,440
|
$25.13
|
| Taxes |
$758
|
$0.26
|
| Operating Expenses |
$5,400
|
$1.85
|
| Total Expenses |
$6,158
|
$2.11
|
| Net Operating Income |
$67,282
|
$23.03
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $71,820 |
| Annual Per SF | $24.58 |
| Other Income | |
|---|---|
| Annual | $1,620 |
| Annual Per SF | $0.55 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $73,440 |
| Annual Per SF | $25.13 |
| Taxes | |
|---|---|
| Annual | $758 |
| Annual Per SF | $0.26 |
| Operating Expenses | |
|---|---|
| Annual | $5,400 |
| Annual Per SF | $1.85 |
| Total Expenses | |
|---|---|
| Annual | $6,158 |
| Annual Per SF | $2.11 |
| Net Operating Income | |
|---|---|
| Annual | $67,282 |
| Annual Per SF | $23.03 |
Property Facts Under Contract
| 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 | 7.56% | No. Stories | 2 |
| No. Units | 3 | Year Built | 2025 |
| Property Type | Multifamily | Parking Ratio | 2.05/1,000 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 | 7.56% |
| 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 | 2.05/1,000 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 | $1,995 | 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 | $758 ($0.22/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
$758 ($0.22/SF)
Tax Year
2026
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Opportunity Zone New Development | 410 W Hadley St
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