Phoenix Triplex Investment
1215 E MISSION LN Phoenix, AZ 85020
1215 E MISSION LN, Phoenix, AZ, 85020
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For Sale
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Well-maintained triplex in Phoenix with updated interiors and steady income.
Property Size1,850 SF
Price / SF$302.70
Days on Market56
Property Features for 1215 E MISSION LN
General Information
- Standard status
- Active
- Size
- 1,850 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1954
Listing Agency
Keller Williams Arizona Realty
Listed by
Rick Horst · License #SA640657000
Source
Crexi
Added: May 26 Updated: Jul 10 at 1:42 pm Checked: Jul 20 at 3:21 am
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Investment Insights
Based on property information with market context.
This well-maintained triplex in Phoenix presents an investment opportunity, offering steady income in a tenant-rich location. The property features a functional layout and ample on-site parking. Each of the three units offers a comfortable floor plan with updated interiors, making them attractive to both tenants and investors. The units have been refreshed with modern finishes, including wood-look flooring, neutral paint tones, updated kitchens with shaker cabinetry, and renovated bathrooms featuring stylish tile work and contemporary fixtures. Newer windows, roof, and A/C units contribute to the property's turn-key condition. The property size is 1850 square feet.
Key Highlights
- Steady income from a well‑maintained triplex in a tenant‑rich location.
- Turn‑key property with newer windows, roof, and A/C units.
- Updated interiors with modern finishes including wood‑look flooring and neutral paint tones.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $36.6k | $19.80 |
| − Vacancy | −$2.0k | −$1.09 |
| EGI | $34.6k | $18.71 |
| − OpEx | −$10.4k | −$5.61 |
| NOI | $24.2k | $13.10 |
1,850 SF · lease $19.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$346.2K
$302.9K – $403.9K
NOI $24,231 @ 7.0% cap · market cap 4.33%
Second Best
Apartment 5plus
$308.3K
$269.7K – $359.6K
NOI $21,578 @ 7.0% cap · market cap 3.85%
Theoretical Best
Office A
$560.4K
$490.3K – $653.8K
NOI $39,227 @ 7.0% cap · market cap 7.00%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Triplex - Well-maintained triplex in Phoenix with updated interiors and steady income.
Where is this triplex located?
The property is located at 1215 E MISSION LN Phoenix, AZ.
What is the asking price?
The asking price for this property is $560,000.
What are key features of this property?
This property features: Steady income from a well‑maintained triplex in a tenant‑rich location.; Turn‑key property with newer windows, roof, and A/C units.; Updated interiors with modern finishes including wood‑look flooring and neutral paint tones.
