Viewing Listing MLS# 6990042
$1,040,000 | N/A beds | N/A full baths | N/A half baths | N/A sqft
Phoenix, AZ 85034
- N/ABeds
- 0.00Total Baths
- N/ASqFt
- 1944Year Built
- 0.00Acres
- 82 yearsEst Age
- MLS# 6990042
- Multifamily
- Multiple Dwellings
- Active
- Approx Time on Market3 months, 13 days
- AreaN/A
- CountyMaricopa
- Subdivision El Molino Place
Overview
9 unit multifamily investment opportunity in Phoenix, AZ. Built in 1946, the property spans two contiguous parcels (2916 and 2920 E. Monroe Street) and features a diverse mix mix: (3) studios, (3) one-bedrooms, (2) two-bedrooms, and (1) large three-bedroom unit over 1,000 SF. The asset offers a cap rate of 7.79% on current financials resulting in stable cash flow with upside potential. Current ownership has already completed a full sewer line replacement, mitigating a major capital expense. Strategically located, the property provides convenient access to Downtown Phoenix, Phoenix Sky Harbor International Airport, and major transportation corridors (Loop 202 and I-10), ensuring strong long-term tenant demand and investment stability.
Agriculture / Farm
Association Fees / Info
Community Features: No Pool
Hoa: No
Bathroom Info
Building Info
Construction Materials: Other, Wood Frame, Painted, Stucco
Roof: Other, Composition, Rolled/Hot Mop
Exterior Features
Financial
Owner Pays: Trash Collection,Water,Sewer
Gross Income: 114060
Insurance Expense: 1599
Maintenance Expense: 6313
Garage / Parking
Parking Features: Other, >1 Space Per Unit, On Street
Interior Features
Flooring: Other, Ceramic Tile
Appliances: Built-In Range, Free-Standing Range, Other, Refrigerator, Microwave
Lot Info
Lot Size: 100 ft x 150 ft
Number of Buildings: 6
Other School Info
Property Info
Road Surface Type: Concrete, Asphalt
Zoning: R-5
Tax Info
Tax Legal Description: EL MOLINO PL
Tax Amount Annual: 1557
Unit Info
Total Units: 9
Utilities / Hvac
Water Source: City Franchise
Electric: APS, Individual Meter
Cooling: Yes
Cool System: Central Air, See Remarks, Individual
Heating: See Remarks, Individual, Heat Pump, Electric
Heating: Yes
Sewer: Public Sewer
Waterfront / Water
Schools
Middle: Wilson Elementary School
Listings courtesy of Matthews Real Estate Investment Services
MLS# 7038253 
