Sorry. You must be logged in to view this form.
Property OverviewRare opportunity to acquire two adjacent triplexes in Phoenix’s 85016 submarket. The properties consist of 6 total units, with a mix of four spacious 1-bedroom units and two 2-bedroom units.The properties are currently occupied by a stable, long-term tenant base with two units vacant, creating immediate opportunity to renovate, lease at market rents, and begin increasing NOI.Unit MixUnit Type# Units
Property Features
2. Rental UpsideCurrent rents are below nearby renovated rental comparables.Target Post-Renovation Rents1 Bedroom: $1,350/month2 Bedroom: $1,550/monthNearby rent comparables within approximately 0.25 miles support these targets.Comparable1BR Rent2BR RentYear Built4231 N 27th St—$1,65019702629 E Turney Ave—$1,49519584219 N 26th St—$1,59519612727 E Montecito Ave$1,400—19592601 E Turney Ave$1,295—19604241 N 26th St$1,350—1962Comparable Average$1,348$1,5801962Glenrosa Target$1,350$1,5501958Stabilized Gross Rent PotentialAt target rents:4 × $1,350 = $5,400/month2 × $1,550 = $3,100/monthProjected Gross Rent: $8,500/monthProjected Gross Rent: $102,000/year
Compelling Exit / Equity Story2727 E Montecito AveTriplex located directly behind the subject propertySale Price: $860,000Sale Date: July 2026Condition: Fully RenovatedFor perspective:Subject Purchase Price Per Triplex: $612,500Nearby Renovated Triplex Sale: $860,000Difference: $247,500 per triplexEven using an intentionally aggressive renovation assumption of $50,000 per unit:$612,500 acquisition+ $150,000 renovation= $762,500 basis per triplexCompared with the nearby $860,000 renovated triplex sale, this still indicates potential room for value creation.Using the walkthrough renovation estimate of $15K–$20K/unit, the projected basis would be materially lower.Buyer to independently verify comparable sale, renovation costs, rents, value, expenses and all underwriting assumptions.
Potential Buyer StrategiesBuy & Hold / Value-AddRenovate units as they become available, move rents toward market levels and grow NOI over time.Renovate & ResellRenovate and reposition the two triplexes with the nearby Montecito sale providing a potentially compelling renovated-value benchmark.Portfolio / Long-Term HoldAcquire six units across two adjacent properties in a desirable infill Phoenix location with existing cash flow and built-in rental upside.
CALL OR TEXT (480) 210-2120
All feedback is welcome! All reasonable offers will be considered! Need to Sell a Deal?
Let’s JV
OFF-MARKET INVENTORY
JOIN OUR BUYERS LIST TODAY
Disclaimer:
House is being sold as-is, and the buyer is to pay all closing costs. 5,000 EMD. Non-Refundable earnest money to be deposited within the same business day contract is executed or the contract will be canceled. Buyer must close with cash or a hard money loan.
The buyer is not relying on any representations, whether written or oral, regarding the properties above. Price based on a cash or hard money offer and is net to seller. Buyers to do their own independent due diligence.
Buyer must do your own due diligence, evaluation and inspection prior to making an offer. Determining value is the buyer’s responsibility. Seller strongly recommends buyers employ an Investment Realtor to help determine value. Any reference to the value of a property by the Seller or any representative of the Seller is an opinion of value. Everyone has a differing opinion on value, cost of construction, materials, quality of workmanship and market speculation. Value is ultimately the buyer’s responsibility and they should be diligent in determining market value.
REALTORS:
If you are currently working with a client, and wish to receive a commission, please note that the wholesale price does not include your commission. You may want to negotiate a commission with your client separate from the wholesale price or you may adjust the wholesale price upwards to include your commission.
WHOLESALERS:
If you’d like to JV on this deal send us a text message, email, or call to let us know you are going to be sharing our deal with your investors.
Terms & Conditions: I consent to receive sms, notifications, alerts, and marketing communication from Hoffer LLC. Message frequency varies. Message and data rates may apply. Text 480-210-2120 for assistance. You can reply STOP to unsubscribe at anytime.
"*" indicates required fields
Thank you for your inquiry on this property listing! We will review your request and get back to you shortly.
Get financing offers in 24-48hrs
