2140 W HEATHERBRAE Drive, Phoenix, AZ 85015
$999,900
Property Type:
Multiple Dwellings
Status:
Active
Current Price:
$999,900
Last Modified:
4/10/2026
Description
Six on Heatherbrae presents a compelling value-add multifamily investment consisting of spacious two-bedroom, one-bath units, each featuring central air conditioning and private, generously sized backyards--an increasingly rare amenity in this asset class. The property is fully gated, offering enhanced security and tenant appeal.
Current rents are significantly below market at approximately $995 per unit, all on month-to-month leases, providing immediate upside. With strategic renovations, rents are projected to achieve $1,300 to $1,450 per unit, creating a clear path to increased cash flow and asset appreciation. An on-site laundry facility offers additional income potential and operational efficiency.
Supplements: The offering includes two triplex buildings combined purchase price: $999,900. * 2140 W Heatherbrae - $499,900 must be purchased together * 2144 W Heatherbrae - $499,900 must be purchased together Additionally, the adjacent property at 2134 W Heatherbrae will be coming to market at $499,900, presenting a rare opportunity to acquire all three triplexes (9 total units) for a combined price of $1,499,000. The property is centrally located with strong rental demand drivers and accessibility. Financing options include conventional and commercial loan structures. All facts and figures are approximate. Buyer to verify all information. Seller is Holds an active real estate Brokers license in AZ and FL
More Information MLS# 7010161
Contract Info
Ownership: Fee Simple
Current Price: $999,900
List Price: $999,900
Status: Active
List Date: 2026-04-07
Location, Tax & Legal
Assessor's Map #: 29
Assessor's Parcel #: 28
Add'l Parcels: Yes
Tax Municipality: Phoenix
Census Tract: 109003
Taxes: 3254
Legal: LOT 10 PUCCINELLI PLACE MCR 007308
Marketing Name: Six at Heatherbrae
House Number: 2140
Compass: W
Street Name: HEATHERBRAE
St Suffix: Drive
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85015
Zip4: 4965
County Code: Maricopa
Subdivision: PUCCINELLI PLACE
Assessor Number: 154-29-028
Tax Year: 2025
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 6
Lot Size Dimensions: 373' X 196'
Total # of Units: 6
Elementary School District: Alhambra Elementary District
High School District: Phoenix Union High School District
Year Built: 1963
Zoning: R-3
Legal Info
Range: 2E
Section: 24
Township: 2N
Lot Number: 10
Project Type
Tri-Plex: 1
5 - 12 Units: 1
Construction
Wood Frame: 1
Const - Finish
Stucco: 1
Roofing
Composition: 1
Foam: 1
Floors
Vinyl: 1
Ceramic Tile: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Ins Exp: 4800
Annual Landscape Exp: 1200
Annual Maint Exp: 3000
Annual Mgmt Exp: 4320
Annual Trash Exp: 1600
Annual Wtr/Swr Exp: 3000
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 21174
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 71640
Pmt & Rate Info
Cap Rate: 5.05
Equity: 999900
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: Aligned Showings
Lockbox Type
None: 1
Community Features
See Remarks: 1
Heating
Electric: 1
Cooling
Electric: 1
Individual: 1
Exterior Amenities
Fenced: 1
Sidewalk(s): 1
Other (See Remarks): 1
Interior Features
Other (See Remarks): 1
Tenant Pays
Gas: 1
Electricity: 1
Appliances Included
Free-Standing Gas Oven: 1
Refrigerator: 1
Road Access Type
Alley: 1
City Street: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Projected Proforma: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Carport: 1
Add'l Parking Avail: 1
Electric
APS: 1
Gas
SW Gas: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
New Financing
Cash: 1
Conventional: 1
Owner May Carry: 1
1031 Exchange: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 6
Avg Rent: 995
Avg SqFt: 918
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Cross Street: Indian School & 23rd Ave
Directions: North on 23rd Ave to Heaterbrae Dr, East to property on the North side of the street.
Geo Lat: 33.497985
Geo Lon: -112.105819
Income Expenses
Gross Annual Sch Inc: 71640
Net Operating Income: 50466
Property Features
Project Type: Tri-Plex; 5 - 12 Units
Construction: Wood Frame
Const - Finish: Stucco
Roofing: Composition; Foam
Floors: Vinyl; Ceramic Tile
Sale Includes: Land & Building
Community Features: See Remarks
Exterior Amenities: Fenced; Sidewalk(s); Other (See Remarks)
Interior Features: Other (See Remarks)
Appliances Included: Free-Standing Gas Oven; Refrigerator
Cooling: Electric; Individual
Water Source: City Franchise
Sewer: Sewer - Public
Electric: APS
Gas: SW Gas
Parking Features: Carport; Add'l Parking Avail
Road Access Type: Alley; City Street
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity; Gas
Source of Fincl Data: Projected Proforma
Lockbox Type: None
New Financing: Cash; Conventional; Owner May Carry; 1031 Exchange
Environmental: None
Listing Office:
Get Multifamily
Last Updated: April - 10 - 2026
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