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2444 E Willetta St 4 Unit Apartment Building $1,051,275 CAD ($262,819 CAD/Unit) 6.81% 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 upside while maintaining occupancy stability.
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 upside while maintaining occupancy stability. Each unit is equipped with central air conditioning, tile flooring, or laminate and white cabinetry, stainless steal appliances, 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.
All facts and figures are approximate buyer verify MLS info Owner Broker
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 upside while maintaining occupancy stability. Each unit is equipped with central air conditioning, tile flooring, or laminate and white cabinetry, stainless steal appliances, 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.
All facts and figures are approximate buyer verify MLS info Owner Broker
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $1,051,275 CAD | Building Class | C |
| Price Per Unit | $262,819 CAD | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 2,250 SF |
| Cap Rate | 6.81% | No. Stories | 1 |
| No. Units | 4 | Year Built/Renovated | 1981/2026 |
| Property Type | Multifamily | Parking Ratio | 3.56/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | M-M - Multi Family | ||
| Price | $1,051,275 CAD |
| Price Per Unit | $262,819 CAD |
| Sale Type | Investment |
| Cap Rate | 6.81% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 2,250 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1981/2026 |
| Parking Ratio | 3.56/1,000 SF |
| Zoning | M-M - Multi Family |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Ceiling Fans
- Tile Floors
- High Speed Internet Access
- Refrigerator
- Range
- Tub/Shower
- Yard
- Patio
- Window Coverings
Site Amenities
- Trash Pickup - Curbside
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | 475 |
| 2+1 | 2 | - | 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 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $10,973 CAD |
Property Taxes
Parcel Number
121-78-035A
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$10,973 CAD
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2444 E Willetta St
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