2828 E TIERRA BUENA Lane, Phoenix, AZ 85032 (MLS# 6992217)

2828 E TIERRA BUENA Lane, Phoenix, AZ 85032

$600,000

Property Type: Multiple Dwellings Status: Active

Current Price: $600,000 Last Modified: 3/03/2026

Description

4-unit multifamily property located within the Palomino Pointe HOA in North Phoenix. Built in 1982. Unit mix consists of (1) 1-Bed / 1-Bath, (2) 2-Bed / 2-Bath, and (1) 3-Bed / 3-Bath units. Two units are currently vacant and listed for rent, providing lease-up potential. Interior and exterior improvements include new HVAC systems (2025), updated cabinets in select units, updated flooring in select units, and updated interior paint. Each unit includes one covered parking space with additional guest parking available. HOA amenities include pool, common areas, trash collection, landscaping, and pool maintenance. Convenient access to SR-51, Loop 101, and nearby retail.

More Information MLS# 6992217

Contract Info

Ownership: Fee Simple Current Price: $600,000 List Price: $600,000 Status: Active List Date: 2026-03-02

Location, Tax & Legal

Assessor's Map #: 39 Legal Description (Abbrev): LOT 57 GREENWAY MANOR MCR Assessor's Parcel #: 85 Add'l Parcels: No Tax Municipality: Phoenix Census Tract: 103306 Taxes: 1400 Legal: LOT 57 GREENWAY MANOR MCR Marketing Name: 2828 E Tierra Buena Ln House Number: 2828 Compass: E Street Name: TIERRA BUENA St Suffix: Lane City/Town Code: Phoenix State/Province: AZ Zip Code: 85032 Zip4: 8345 County Code: Maricopa Subdivision: GREENWAY MANOR Assessor Number: 214-39-085 Tax Year: 2025

General Property Description

# of Buildings: 1 Uncvrd Parking Spcs: 6 Lot Size Dimensions: 5,557 Total # of Units: 4 Elementary School District: Paradise Valley Unified District High School District: Paradise Valley Unified District Year Built: 1982 Zoning: PAD-13

Legal Info

Range: 3E Section: 2 Township: 3N Lot Number: 57

Project Type

Four Plex: 1

Construction

Wood Frame: 1

Const - Finish

Stucco: 1

Roofing

Built-Up: 1

Floors

Tile: 1 Vinyl: 1

Sale Includes

Building(s) Only: 1 Land & Building: 1

Income & Expenses

Owner Association: Yes Annual Ownr Asoc Fee: 8340 Operating Exp: 9740 Other Income: 400 Vacancy Allowance: 0.5 Adjusted Gross Inc: 28948

Pmt & Rate Info

Cap Rate: 5.81 Equity: 600000 Down Payment %: 30 Monthly Payments: 2586 Total Owed: 0

Showing Notification Methods

Showing Service: No Showing Service Used Text: 1 Email: 1 Phone Call: 1

Lockbox Type

None: 1

Community Features

Heated Pool(s): 1 Play Area: 1

Heating

Electric: 1

Cooling

Electric: 1

Tenant Pays

Electricity: 1

Appliances Included

Built-In Electric Oven: 1 Dishwasher: 1 Refrigerator: 1 W/D Hookup: 1

Road Surface Type

Asphalt: 1

Source of Fincl Data

Owner: 1 Projected Proforma: 1

Water Source

City Franchise: 1

Sewer

Sewer - Public: 1

Parking Features

Carport: 1 1 Space/Unit: 1 Add'l Parking Avail: 1

Electric

APS: 1

Gas

None: 1

Owner Pays

See Remarks: 1

New Financing

Cash: 1 VA: 1 Conventional: 1 FHA: 1 No Carry: 1

Reports/Disclosures

None: 1

Environmental

None: 1

Efficiency Units

Avg Rent: 0

1 Bedroom Units

# 1 Bedroom Units: 1 Avg Rent: 0 Avg SqFt: 650 # Baths: 1

2 Bedroom Units

# 2 Bedroom Units: 2 Avg Rent: 1000 Avg SqFt: 925 # Baths: 2

3 Bedrooms Units

# 3 Bedroom Units: 3 Avg Rent: 1300 Avg SqFt: 1118 # Baths: 3

4 Bedrooms Units

Avg Rent: 0

Remarks Misc

Geo Lat: 33.630249 Geo Lon: -112.020897

Income Expenses

Gross Annual Sch Inc: 57496 Net Operating Income: 34831

Property Features

Project Type: Four Plex Construction: Wood Frame Const - Finish: Stucco Roofing: Built-Up Floors: Tile; Vinyl Sale Includes: Building(s) Only; Land & Building Community Features: Heated Pool(s); Play Area Appliances Included: Built-In Electric Oven; Refrigerator; Dishwasher; W/D Hookup Cooling: Electric Water Source: City Franchise Sewer: Sewer - Public Electric: APS Gas: None Parking Features: Carport; 1 Space/Unit; Add'l Parking Avail Road Surface Type: Asphalt Owner Pays: See Remarks Tenant Pays: Electricity Source of Fincl Data: Owner; Projected Proforma Showing Notification Methods: Text; Email; Phone Call Lockbox Type: None New Financing: Cash; VA; FHA; Conventional; No Carry Environmental: None

Listing Office: ABI Multifamily

Last Updated: March - 03 - 2026