2726 E Tierra Buena Lane, Phoenix, AZ 85032

$710,000
Property Type: Multiple Dwellings Status: Active
Current Price: $710,000 Last Modified: 5/22/2025

Description

Advantageously placed just west of State Route 51, Tierra Buena (''the property'') is a 4-unit apartment community located just east of the Cave Creek Road and Greenway Parkway intersection, deep inside the expanding Northeast Phoenix submarket. Its nearby proximity to State Route 51, a major transportation artery, affords residents direct access to simple passage within desirable commute times to nearly any destination across The Valley. Included in those nearby destinations are some of the largest employment corridors in Arizona. The I-17 / Deer Valley and Scottsdale Airpark employment corridors are reachable within a 10-minute drive, and the Biltmore employment district is less than 15 minutes away.

Supplements: In addition to powerful job opportunities, the surrounding landscape is also flush with countless dining, shopping, and entertainment options. Desert Ridge, Scottsdale Quarter, and the Biltmore Area, each hold highly sought after nighttime experiences, including restaurants, bars, and retail stores. Built in 1987, Tierra Buena is entirely comprised of two-bedroom, two-bathroom floorplans covering 900 square feet. Future ownership will have the opportunity to upgrade the interiors of the 2 remaining classic units and capitalize on the associated rental premium already proven out at the property.

More Information MLS# 6869954

Contract Info

Current Price: $710,000 List Price: $710,000 Status: Active List Date: 2025-05-21 Ownership: Fee Simple

Location Tax Legal

House Number: 2726 Compass: E Street Name: Tierra Buena St Suffix: Lane City/Town Code: Phoenix State/Province: AZ Zip Code: 85032 Country: US County Code: Maricopa Assessor Number: 214-40-252 Tax Year: 2024

General Property Description

Lot Size Dimensions: 0.22 Year Built: 1987 Uncvrd Parking Spcs: 8 Total # of Units: 4 # of Buildings: 1 Zoning: R-5

Remarks Misc

Geo Lat: 33.630515 Geo Lon: -112.023006

Status Change Info

Status Change Date: 2025-05-22

Legal Info

Lot Number: 5

Income Expenses

Gross Annual Sch Inc: 50220 Net Operating Income: 35655

Showing Notification Methods

Showing Service: Aligned Showings

2 Bedroom Units

# 2 Bedroom Units: 4 Avg Rent: 1200 Avg SqFt: 900 # Baths: 8

Property Features

Project Type: Four Plex Construction: Wood Frame Const - Finish: Stucco Roofing: Foam Floors: Vinyl Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Desert Landscaping Appliances Included: Free-Standing Electric Oven; Refrigerator; Dishwasher; Microwave; W/D Hookup Heating: Individual Cooling: Electric; Individual Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: SW Gas Parking Features: >1 Space Per Unit Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity Source of Fincl Data: Owner Lockbox Type: None New Financing: Cash; FHA; Conventional; 1031 Exchange Environmental: None
Listing Office: Marcus & Millichap
Last Updated: May - 22 - 2025
2726 E Tierra Buena Lane, Phoenix, AZ 85032- MLS# 6869954
Copyright 2024 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.