AZ
Maricopa
Phoenix
85006
1620 E PALM Lane
1620 E PALM Lane, Phoenix, AZ 85006
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Listing Type
Multi Family
Listing Status
active
14
$995,000
Home Details for 1620 E PALM Lane
Price
$995,000
Type
Residential Income
Bedrooms
0
Bathrooms
Square feet
NaN
Year built
1947
County
Maricopa
Garage
Days on site
123
Listing #
6869774
Listing Courtesy: Orion Investment Real Estate - 480-634-6934
Property Description
1620 E Palm Ln presents an exceptional opportunity to acquire a turnkey asset in a historically significant area at an outstanding price. The property features 7 units, with 5 recently renovated and 4 units offering washer/dryer. With current rents and expenses, the investment is offered at a 6.3% cap rate, with additional optimization and growth potential. The asset is situated on a large 20,473-square-foot lot, with the current building footprint utilizing only a small portion, providing significant opportunity for future redevelopment or the addition of additional units. The existing income stream generates immediate cash flow, ensuring a strong return from day one. The current ownership has established a strong model for the remaining units, further enhancing the property's revenue.
Property Features
Heating Information
- Electric
Water Features
- Public
Parking
- Paved
School Information
School Information for 1620 E PALM Lane, Phoenix, AZ 85006
Elementary School
William T Machan Elementary School
Middle School
N/A
High School
N/A
Copyright ©2025 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.Last Updated: 2025-08-16 15:15:12
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64 E. Broadway Rd. Ste 200, Tempe, AZ 85282Office
480 791 4604
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