• Asking Price See Price
  • Estimated Value: $1,049,216

  • 6TH PHOENIX, AZ 85003

  • 5 Beds 1 Bath 391 SqFt
  • Multi-family (5 or more units) / Owner Financing
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Property Details for 6TH St, PHOENIX, AZ 85003

Features

Facts

Description

This property is offered for sale with Owner Financing available. With Owner Financing, owners can offer flexible terms which allow buyers to purchase property without a traditional bank loan. This leaves more room for negotiation on loan terms and approvals.

In the very heart of the downtown core, 621 N. 6th Avenue was constructed of red brick in 1930 with five 1-bedroom units. Each has a washer/dryer hookup and is individually metered for electricity. Upgrades over recent years include windows and doors, cabinets, electric wiring and panel, copper supply lines, waste and gas lines, and rooftop ACs. 621 N. 6th Avenue offers two value add scenarios. The zoning overlay allows a height of 65' and an increase to eight units (Buyer to verify all facts) so it is a perfect candidate for future development with current cash flow. Alternatively, it can be upgraded in its current footprint to capitalize on the inherent high demand for downtown rentals. Residents enjoy living in the vibrant downtown core and all it has to offer. Within walking distance.. Within walking distance are award winning restaurants like Cibo, The Vig, and Arrogant Butcher. Entertainment venues include Crescent Ballroom, Grand Avenue Arts District, Roosevelt Row Arts District, and a number of breweries. Employment and educational venues include the ASU Downtown Campus, Phoenix Biomedical Campus, Banner University Medical Center. Sale can be combined with 8 units at 1017 E. McKinley for a total of 13 units downtown. Seller financing is available.

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