1217 E HESS Avenue, Phoenix, AZ 85034
$525,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$525,000
Last Modified:
9/16/2025
Description
1217 E Hess Ave offers an exceptional investment opportunity with an assumable FHA loan at 5.25%. This property is minutes from Downtown Phoenix, Sky Harbor Airport, and major freeways (I-10, Loop 202). The property is surrounded by major employment hubs including ASU's Downtown campus, Phoenix Biomedical Campus, Maricopa County and City of Phoenix government centers, and top corporate employers like Freeport-McMoRan, Honeywell, Wells Fargo, Chase, and APS. Ongoing redevelopment in the Warehouse District and Central City neighborhoods is fueling rental demand from young professionals, students, and healthcare workers. With excellent access to transit, entertainment, and a strong, diverse job market, this property is well-positioned
for steady cash flow and long-term appreciation.
More Information MLS# 6880768
Contract Info
Current Price: $525,000
Sold Price: $525,000
Status: Closed
List Date: 2025-06-16
Ownership: Fee Simple
Location Tax Legal
House Number: 1217
Compass: E
Street Name: HESS
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85034
Zip4: 5223
County Code: Maricopa
Subdivision: HILTON PLACE
Assessor Number: 115-37-078-B
Tax Year: 2024
General Property Description
Lot Size Dimensions: 6900
Year Built: 1946
Uncvrd Parking Spcs: 5
Total # of Units: 3
# of Buildings: 3
Zoning: R-3
Flood Zone: No
Elementary School District: Phoenix Elementary District
High School District: Phoenix Union High School District
Remarks Misc
Cross Street: 12th Street and East Hess Ave
Directions: Head south on 12th street then turn left on East Hess Ave
Geo Lat: 33.428542
Geo Lon: -112.054973
Status Change Info
Off Market Date: 2025-09-16
Under Contract Date: 2025-06-26
Close of Escrow Date: 2025-09-15
Sold Price: $525,000
Legal Info
Township: 1N
Range: 3E
Section: 16
Lot Number: 17
Income Expenses
Gross Annual Sch Inc: 45480
Net Operating Income: 35727
Showing Notification Methods
Showing Service: No Showing Service Used
Efficiency Units
# Efficiency Units: 2
Avg Rent: 950
# Baths: 1
3 Bedrooms Units
# 3 Bedroom Units: 1
Avg Rent: 1895
Avg SqFt: 900
# Baths: 2
Sold Info
Loan Type: Cash
Payment Type: Other
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Project Type: Tri-Plex
Construction: Block; Wood Frame
Const - Finish: Painted; Stucco
Roofing: Composition
Floors: Vinyl
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Fenced
Appliances Included: Built-In Gas Oven; Refrigerator; Washer/Dryer
Cooling: Electric
Water Source: City Franchise
Sewer: Sewer - Public
Electric: APS; SRP
Gas: SW Gas
Parking Features: On Street; 1 Space/Unit
Owner Pays: Water; Trash Collection
Tenant Pays: Electricity; Gas
Source of Fincl Data: Owner
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
Existing 1st Loan: FHA
Existing 1st Ln Type: Fixed
Existing 1st Ln Trms: Assume - Qualify
New Financing: Cash; VA; FHA; Conventional; No Carry; 1031 Exchange
Environmental: None
Listing Office: Compass
Last Updated: September - 16 - 2025
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