UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Subdivision Del Rey Lots 101-140
MLS Listing ID 7000022
Maintenance Fees $1,500
Year Built 1981
Annual Tax Amount $1,050
Tax Year 2025
Lot Dimensions 6,595
Source Arizona Regional Multiple Listing Service (ARMLS)
Property Description
The property has maintained 100% occupancy for nearly a decade, supported by long-term tenancy and consistent rental demand. Current in-place rents range from $1,100 to $1,350, presenting a clear value-add opportunity as market rents in the immediate area range from approximately $1,200 to $1,450. A new owner has the ability to implement a measured rental repositioning strategy to capture u upside while maintaining occupancy stability.
Each unit is equipped with central air conditioning, tile flooring, and white cabinetry, and all units feature private backyard spaces--an amenity that differentiates the asset from competing properties and supports tenant retention. The property has undergone recent exterior capital improvements, including new paint, upgraded fencing and gates, modernized entry doors, enhanced lighting, and refreshed landscaping. Additionally, the seller is in the process of recoating the asphalt, further reducing near-term capital expenditure requirements.
Positioned in one of Phoenix's most sought-after infill locations, the asset benefits from close proximity to the Biltmore financial district, Arcadia retail and dining, and major transportation corridors. Four at Willetta represents an opportunity to acquire a proven, cash-flowing asset with strong historical occupancy, minimal deferred maintenance, and the ability to drive revenue growth through rental adjustments in a supply-constrained submarket.
Recent appraisal of $960,000 this is priced to sell. Owner/ Agent
All facts and figures are approximate buyer verify MLS
Location
State AZ
County Maricopa
Community Del Rey Lots 101-140
Area Maricopa
Zoning R-3
Interior
Heating Central
Cooling Central Air
Flooring Tile
Appliance Other
Exterior
Parking Features Other
Community Features Other
Roof Type Composition
Private Pool No
Building
Sewer Public Sewer
Water City Franchise
New Construction No
Schools
Elementary Schools Creighton Virtual Academy
Middle Schools Creighton Virtual Academy
High Schools Camelback High School
School District Phoenix Union High School District
Others
Senior Community No
Tax ID 121-78-035-A
Acceptable Financing Other (See Remarks), Conventional, 1031 Exchange, FHA, VA Loan
Disclosures None
Listing Terms Other (See Remarks), Conventional, 1031 Exchange, FHA, VA Loan
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