1442 E POLK Street, Phoenix, AZ 85006

$780,000

Property Type: Multiple Dwellings Bedrooms: 8 Baths: 6 Status: Closed

Current Price: $780,000 Last Modified: 8/28/2026

Overview

Description

Terrific value-add opportunity in the desirable Garfield Historic District. This developing neighborhood near downtown Phoenix provides unique architectural styles and in-town conveniences. The property has six rental units in four individual buildings with an attractive unit mix. Separate electric meters. Landlord pays water. Tremendous upside potential with current rents well below market. One vacant unit being held for tours. (4) 1/1, (1) 2/1 and (1) 2/1.5. This property is primed for an experienced new owner who will maximize it's potential. Near 7% proforma cap!

Listing Details MLS# 6209663

Location, Tax & Legal

Map Code/Grid: Q34
House Number: 1442
Compass: E
Street Name: POLK
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85006
Zip4: 3568
Country: US
County Code: Maricopa
Subdivision: GERMANIA PLACE LOTS 1, 2, 12, 13
Assessor Number: 116-18-116
Tax Year: 2020
Assessor's Map #: 18
Legal Description (Abbrev): GERMANIA PL PT LOT 34 S2
Assessor's Parcel #: 116
Add'l Parcels: No
Tax Municipality: Maricopa - COUNTY
Census Tract: 113201
Taxes: 2134
Legal: GERMANIA PL PT LOT 34 S2
Marketing Name: GERMANIA PLACE

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: +/-100' x +/-238'
Year Built: 1946
Uncvrd Parking Spcs: 15
Total # of Units: 6
# of Buildings: 4
Zoning: R-4
Elementary School District: Phoenix Elementary District
High School District: Phoenix Union High School District

Remarks Misc

Cross Street: 16th Street & Roosevelt
Directions: From 16th Street & Roosevelt. West on Roosevelt to 14th Street. South on 14th Street to Polk. East on Polk to property on north side of street.

Status Change Info

Off Market Date: 2021-03-22
Under Contract Date: 2021-03-22
Close of Escrow Date: 2021-04-01

Legal Info

Township: 1N
Range: 3E
Section: 4
Lot Number: 34

More Information

1 Bedroom Units

# 1 Bedroom Units: 4
Avg Rent: 950
Avg SqFt: 700
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: 2
Avg Rent: 1050
Avg SqFt: 1000
# Baths: Yes

Structure

Bedrooms Total: 8
Bathrooms Total: 6

Income Expenses

Gross Annual Sch Inc: 72600
Net Operating Income: 58582

Sold Info

Loan Type: Other
Payment Type: Other
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession to Buyer: Yes
Seller Concession $/%: %
Buyer Concession to Seller: 0

Project Type

5 - 12 Units: Yes

Efficiency Units

Avg Rent: 0

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Construction

Wood Frame: Yes

Const - Finish

Painted: Yes
Stucco: Yes

Roofing

Composition: Yes

Floors

Concrete: Yes
Ceramic Tile: Yes

Sale Includes

Land & Building: Yes

Income & Expenses

Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 2134
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 68970

Pmt & Rate Info

Cap Rate: 7.51
Equity: 780000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0

Lockbox Type

None: Yes

Community Features

No Pool: Yes

Heating

Other: Yes
See Remarks: Yes

Cooling

Central Air: Yes

Exterior Amenities

Curb(s) & Gutter(s): Yes

Tenant Pays

Gas: Yes
Electricity: Yes

Appliances Included

Other: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes
Projected Proforma: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

Carport: Yes
Paved: Yes

Electric

APS: Yes

Gas

SW Gas: Yes

Owner Pays

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

New Financing

No Carry: Yes
1031 Exchange: Yes
Other (See Remarks): Yes

Existing 1st Loan

Treat as Free&Clear: Yes

Existing 1st Loan Type

Not Applicable: Yes

Reports/Disclosures

None: Yes

Environmental

None: Yes

Property Features

Project Type: 5 - 12 Units Construction: Wood Frame Const - Finish: Painted; Stucco Roofing: Composition Floors: Concrete; Ceramic Tile Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Curb(s) & Gutter(s) Appliances Included: Other Heating: Other; See Remarks Cooling: Central Air Water Source: City Franchise Sewer: Sewer - Public Electric: APS Gas: SW Gas Parking Features: Carport; Paved Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity; Gas Source of Fincl Data: Owner; Projected Proforma Lockbox Type: None Existing 1st Loan: Treat as Free&Clear Existing 1st Loan Type: Not Applicable New Financing: No Carry; 1031 Exchange; Other (See Remarks) Environmental: None

Listing Office: Century 21 Arizona Foothills

Last Updated: August - 28 - 2026