Polk Terrace — Sale in Phoenix, AZ

  • Price: $4.1M
  • Listing type: For sale
  • Asset type: Business
  • Location: Phoenix, AZ 85006

Description

Current ownership has owned and self-managed the property since 2015 and has kept the property consistently at high occupancy at below market rents with long-term tenants that are on month-to-month leases. The units are in classic condition and new ownership has the tremendous opportunity and immediate flexibility to significantly bump rental rates by updating the unit interiors and adding washer/dryer in unit. Furthermore, the two building layouts allow for the addition of large back patios on the 16 ground floor units. By upgrading units, adding washer/dryer, and patios, rental rates could be increased between $150-$250 above existing rental rates.

Market Context

This commercial property in Phoenix, AZ is listed for sale at $4,050,000. It has been on the market for 53 days. Compare it against other commercial property listings for sale in Phoenix, AZ — view the full market.

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