2140 W HEATHERBRAE Drive, Phoenix, AZ 85015 (MLS# 7010114)

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 ... (Read more)

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

Last Updated: April - 07 - 2026