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2444 E Willetta St - Four at Willetta 4 Unit Apartment Building Offered at $1,167,127 CAD at a 6.01% Cap Rate Phoenix, AZ 85008
Executive Summary
Four at Willetta is a stabilized, garden-style four-unit multifamily asset located in the highly desirable Biltmore/Arcadia corridor of Phoenix, Arizona. Constructed in the 1980s, the property offers a functional unit mix of two two-bedroom/one-bath units and two one-bedroom/one-bath units, catering to a broad tenant base in a high-demand rental submarket. 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
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
Financial Summary (Pro Forma - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$87,329
|
$38.81
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$87,329
|
$38.81
|
| Taxes |
$1,442
|
$0.64
|
| Operating Expenses |
$15,791
|
$7.02
|
| Total Expenses |
$17,232
|
$7.66
|
| Net Operating Income |
$70,096
|
$31.15
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $87,329 |
| Annual Per SF | $38.81 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $87,329 |
| Annual Per SF | $38.81 |
| Taxes (CAD) | |
|---|---|
| Annual | $1,442 |
| Annual Per SF | $0.64 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $15,791 |
| Annual Per SF | $7.02 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $17,232 |
| Annual Per SF | $7.66 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $70,096 |
| Annual Per SF | $31.15 |
Property Facts
| Price | $1,167,127 CAD | Lot Size | 0.15 AC |
| Price Per Unit | $291,782 CAD | Building Size | 2,250 SF |
| Sale Type | Investment | No. Stories | 1 |
| Cap Rate | 6.01% | Year Built | 1981 |
| No. Units | 4 | Parking Ratio | 3.56/1,000 SF |
| Property Type | Multifamily |
| Price | $1,167,127 CAD |
| Price Per Unit | $291,782 CAD |
| Sale Type | Investment |
| Cap Rate | 6.01% |
| No. Units | 4 |
| Property Type | Multifamily |
| Lot Size | 0.15 AC |
| Building Size | 2,250 SF |
| No. Stories | 1 |
| Year Built | 1981 |
| Parking Ratio | 3.56/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | $1,648 CAD | 475 |
| 2+1 | 2 | $1,922 CAD | 675 |
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 121-78-035A | Total Assessment | $10,680 CAD (2025) |
| Land Assessment | $0 CAD (2025) | Annual Taxes | $1,442 CAD ($0.64 CAD/SF) |
| Improvements Assessment | $0 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
121-78-035A
Land Assessment
$0 CAD (2025)
Improvements Assessment
$0 CAD (2025)
Total Assessment
$10,680 CAD (2025)
Annual Taxes
$1,442 CAD ($0.64 CAD/SF)
Tax Year
2026
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2444 E Willetta St - Four at Willetta
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