2140 W HEATHERBRAE Drive, Phoenix, AZ 85015 (MLS# 7066520)

2140 W HEATHERBRAE Drive, Phoenix, AZ 85015

$1,380,000

Property Type: Multiple Dwellings Bedrooms: 16 Baths: 9 Status: Active

Current Price: $1,380,000 Last Modified: 8/14/2026

Overview

Description

The Heatherbrae 9 Portfolio is a prime, cash-flowing nine-unit multifamily property in Midtown Phoenix (85015). Featuring seven 2-bed/1-bath and two 1-bed/1-bath units across three single-story triplexes on a ±25,356 SF corner lot, it offers immediate rental upside and value-add potential. PROPERTY HIGHLIGHTS: - UNIT MIX: Seven 2-bed/1-bath, two 1-bed/1-bath (1963 build). - LAYOUT: Three detached single-story triplexes with private patios. - PARKING: 14 spaces (2 covered) plus on-site laundry. - UTILITIES: Individually metered electricity. LOCATION & TRANSIT: - COMMUTE: 5.5 miles to Downtown Phoenix; 9.4 miles to Sky Harbor Airport. - TRANSIT: Under 1 mile to the Valley Metro Light Rail; instant I-17 access. - NEIGHBORHOOD: Walkable Midtown corridor near arts, dining, and histor

Listing Details MLS# 7066520

Location, Tax & Legal

House Number: 2140
Compass: W
Street Name: HEATHERBRAE
St Suffix: Drive
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85015
Zip4: 4965
Country: US
County Code: Maricopa
Subdivision: PUCCINELLI PLACE
Assessor Number: 154-29-028
Tax Year: 2025
Assessor's Map #: 29
Legal Description (Abbrev): LOT 9 PUCCINELLI PLACE MCR 007308
Assessor's Parcel #: 28
Add'l Parcels: Yes
Tax Municipality: Phoenix
Census Tract: 109003
Taxes: 4604
Legal: LOT 9 PUCCINELLI PLACE MCR 007308 LOT 8 PUCCINELLI PLACE MCR 007308 LOT 10 PUCCINELLI PLACE MCR 007308
Marketing Name: Heatherbrae 9 Portfolio

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 196 ft x 65 ft
Year Built: 1963
Uncvrd Parking Spcs: 12
Total # of Units: 9
# of Buildings: 3
Zoning: R-3, Phoenix
Elementary School District: Alhambra Elementary District
High School District: Phoenix Union High School District
Elementary School: Westwood Elementary School
Jr. High School: Choice Learning Academy
High School: Central High School

Remarks Misc

Cross Street: 19th Avenue / Camelback Road
Directions: From 19th Avenue & Camelback, west to 23rd Avenue. Turn left and head south to Glenrosa. Turn left and head east to 22nd Avenue. Turn right and head south to Heatherbrae. Property on NWC of 22nd Avenue & Heatherbrae.

Legal Info

Township: 2N
Range: 2E
Section: 24
Lot Number: 9

1 Bedroom Units

# 1 Bedroom Units: 2
Avg Rent: 1100
Avg SqFt: 600
# Baths: Yes

More Information

2 Bedroom Units

# 2 Bedroom Units: 7
Avg Rent: 1300
Avg SqFt: 918
# Baths: Yes

Structure

Bedrooms Total: 16
Bathrooms Total: 9

Income Expenses

Gross Annual Sch Inc: 135600
Net Operating Income: 94672

Showing Notification Methods

Showing Service: No Showing Service Used
Text: Yes
Email: Yes
Phone Call: Yes

Project Type

Tri-Plex: Yes
5 - 12 Units: Yes

Efficiency Units

Avg Rent: 0

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Other Type

Packaged Offering: Yes

Construction

Block: Yes
Wood Frame: Yes
Slump Block: Yes

Const - Finish

Painted: Yes

Roofing

Shake: Yes
Foam: Yes

Floors

Concrete: Yes
Vinyl: Yes

Sale Includes

Land & Building: Yes

Income & Expenses

Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 7200
Annual Land Lse Exp: 0
Annual Landscape Exp: 1800
Annual Maint Exp: 4500
Annual Mgmt Exp: 6441
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 0
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Other Expense: 6903
Operating Exp: 31448
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 128820
Total Monthly Rental Income: 11300

Pmt & Rate Info

Cap Rate: 6.86
Equity: 1380000
Down Payment %: 100
Monthly Payments: 0
Total Owed: 0

Lockbox Type

None: Yes

Community Features

No Pool: Yes

Heating

Natural Gas: Yes

Cooling

Central Air: Yes
Electric: Yes
Individual: Yes
2 or More Units: Yes

Exterior Amenities

Landscape Water System: Yes
Desert Landscaping: Yes
Patio/Balcony: Yes
Separate Storage: Yes

Tenant Pays

Electricity: Yes
Cable TV: Yes

Appliances Included

Free-Standing Gas Oven: Yes
Free-Standing Range: Yes
See Remarks: Yes

Road Access Type

Alley: Yes
City Street: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes
Projected Proforma: Yes

Road Responsibility

City Maintained Road: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes
Sewer-In & Connected: Yes

Parking Features

>1 Space Per Unit: Yes

Electric

APS: Yes

Gas

SW Gas: Yes

Owner Pays

Water: Yes
Sewer: Yes
Gas: Yes
Trash Collection: Yes
Landscaping: Yes

New Financing

Cash: Yes
Conventional: Yes
1031 Exchange: Yes

Existing 1st Loan

Treat as Free&Clear: Yes

Existing 1st Loan Type

Not Applicable: Yes

Existing 1st Loan Terms

Not Applicable: Yes

Existing 2nd Loan

Treat as Free&Clear: Yes

Existing 2nd Loan Type

Not Applicable: Yes

Existing 2nd Loan Terms

Not Applicable: Yes

Existing 3rd Loan

Treat as Free&Clear: Yes

Existing 3rd Loan Type

Not Applicable: Yes

Reports/Disclosures

None: Yes

Existing 3rd Loan Terms

Not Applicable: Yes

Environmental

None: Yes

Existing Othr Ln Trm

Not Applicable: Yes

Property Features

Project Type: Tri-Plex; 5 - 12 Units Other Type: Packaged Offering Construction: Block; Wood Frame; Slump Block Const - Finish: Painted Roofing: Shake; Foam Floors: Concrete; Vinyl Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Landscape Water System; Desert Landscaping; Patio/Balcony; Separate Storage Appliances Included: Free-Standing Gas Oven; Free-Standing Range; See Remarks Heating: Natural Gas Cooling: Electric; Individual; Central Air; 2 or More Units Water Source: City Franchise Sewer: Sewer - Public; Sewer-In & Connected Electric: APS Gas: SW Gas Parking Features: >1 Space Per Unit Road Access Type: Alley; City Street Road Surface Type: Asphalt Road Responsibility: City Maintained Road Owner Pays: Water; Gas; Trash Collection; Landscaping Tenant Pays: Electricity; Cable TV Source of Fincl Data: Owner; Projected Proforma Showing Notification Methods: Text; Email; Phone Call Lockbox Type: None Existing 1st Loan: Treat as Free&Clear Existing 1st Loan Type: Not Applicable Existing 1st Loan Terms: Not Applicable Existing 2nd Loan: Treat as Free&Clear Existing 2nd Loan Type: Not Applicable Existing 2nd Loan Terms: Not Applicable Existing 3rd Loan: Treat as Free&Clear Existing 3rd Loan Type: Not Applicable Existing 3rd Loan Terms: Not Applicable Existing Othr Ln Trm: Not Applicable New Financing: Cash; Conventional; 1031 Exchange Environmental: None

Listing Office: ABI Multifamily

Last Updated: August - 14 - 2026