2140 W HEATHERBRAE Drive, Phoenix, AZ 85015

$499,900
Property Type: Multiple Dwellings Status: Active
Current Price: $499,900 Last Modified: 4/07/2026

Overview

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 ...

Listing Details MLS# 7010114

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
County Code
Maricopa
Subdivision
PUCCINELLI PLACE
Assessor Number
154-29-028
Tax Year
2025
Assessor's Map #
29
Legal Description (Abbrev)
LOT 10 PUCCINELLI PLACE MCR 007308
Assessor's Parcel #
28
Add'l Parcels
Yes
Tax Municipality
Phoenix
Census Tract
109003
Taxes
4604
Legal
LOT 10 PUCCINELLI PLACE MCR 007308
Marketing Name
Six at Heatherbrae

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
373' X 196'
Year Built
1963
Uncvrd Parking Spcs
6
Total # of Units
3
# of Buildings
Yes
Zoning
R-3
Elementary School District
Alhambra Elementary District
High School District
Phoenix Union High School District

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.

Legal Info

Township
2N
Range
2E
Section
24
Lot Number
10

Income Expenses

Gross Annual Sch Inc
46800
Net Operating Income
33236

More Information

Showing Notification Methods

Showing Service
Aligned Showings

2 Bedroom Units

# 2 Bedroom Units
3
Avg Rent
995
Avg SqFt
918
# Baths
Yes

Project Type

Tri-Plex
Yes
5 - 12 Units
Yes

Construction

Wood Frame
Yes

Const - Finish

Stucco
Yes

Roofing

Composition
Yes
Foam
Yes

Floors

Vinyl
Yes
Ceramic Tile
Yes

Sale Includes

Land & Building
Yes

Income & Expenses

Annual Ins Exp
2400
Annual Landscape Exp
600
Annual Maint Exp
1500
Annual Mgmt Exp
2160
Annual Trash Exp
800
Annual Wtr/Swr Exp
1500
Owner Association
No
Annual Ownr Asoc Fee
0
Operating Exp
13564
Other Income
0
Vacancy Allowance
0
Adjusted Gross Inc
46800

Pmt & Rate Info

Cap Rate
6.65
Equity
499900
Down Payment %
0
Monthly Payments
0
Total Owed
0

Lockbox Type

None
Yes

Community Features

See Remarks
Yes

Heating

Electric
Yes

Cooling

Electric
Yes
Individual
Yes

Exterior Amenities

Other (See Remarks)
Yes

Interior Features

Other (See Remarks)
Yes

Tenant Pays

Gas
Yes
Electricity
Yes

Appliances Included

Free-Standing Gas Oven
Yes
Refrigerator
Yes

Road Access Type

Alley
Yes
City Street
Yes

Road Surface Type

Asphalt
Yes

Source of Fincl Data

Projected Proforma
Yes

Water Source

City Franchise
Yes

Sewer

Sewer - Public
Yes

Parking Features

Carport
Yes
Add'l Parking Avail
Yes

Electric

APS
Yes

Gas

SW Gas
Yes

Owner Pays

Water
Yes
Sewer
Yes
Trash Collection
Yes
Landscaping
Yes

New Financing

Cash
Yes
Conventional
Yes
Owner May Carry
Yes
1031 Exchange
Yes

Reports/Disclosures

None
Yes

Environmental

None
Yes

Efficiency Units

Avg Rent
0

1 Bedroom Units

Avg Rent
0

3 Bedrooms Units

Avg Rent
0

4 Bedrooms Units

Avg Rent
0

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: 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
IDX
Last Updated: April - 07 - 2026
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