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Jay Patel

jay@thejaypatelgroup.com +1(623) 888-6210

$1,110,000

Est. payment - /mo

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Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Subdivision Tierra Verde

MLS Listing ID 7025359

Year Built 1946

Annual Tax Amount $988

Tax Year 2025

Lot Dimensions 74' x 123'

Source Arizona Regional Multiple Listing Service (ARMLS)

Property Description

Discover a prime investment opportunity in strong central Phoenix with this fully occupied 8-unit multifamily complex generating consistent cash flow from day one. This exceptional property comprises three spacious 1-bedroom, 1-bathroom units and five efficient studio units, perfectly positioned to capitalize on the area's high demand for affordable rentals where vacancies remain rare. Each unit features its own electrical sub-panel for independent metering and billing. While all three 1-bedroom units boast in-unit washer/dryers for premium tenant appeal, and studios share a convenient on-site laundry facility. The property is fully fenced with one dedicated parking spot per unit, creating a secure and organized community. Major systems including plumbing, electrical, and HVAC were professionally upgraded in 2021, ensuring reliability and minimal maintenance concerns for years to come. The property is well-maintained with regular upkeep including fresh paint and timely repairs. With its R-5 zoning allowing for maximum density in multifamily development, this property presents significant future redevelopment possibilities for investors seeking long-term upside potential. Located strategically near Downtown Phoenix, the Central Avenue light rail extension, and with easy access to I-10 and I-17, residents enjoy quick commutes to key employment corridors and major transit routes. Beyond the stable current income, this is a true value-add opportunity--the large lot provides room for expansion, and there's strong potential to increase returns by replacing flooring and installing washer/dryers in the remaining studio units, or utilizing the huge courtyard for income-producing amenities like vending machines. This combines built-in stability with substantial upside for an investor ready to maximize returns. DRIVE-BY ONLY; please do not disturb tenants. Walkthroughs available only with accepted offers. Buyer to verify all information.

Location

State AZ

County Maricopa

Community Tierra Verde

Area Maricopa

Zoning R-5

Interior

Heating Electric

Cooling Electric

Flooring Ceramic Tile

Appliance Built-In Range, Disposal, Refrigerator, Microwave, Washer/Dryer

Exterior

Exterior Feature Sidewalk(s)

Parking Features Paved, 1 Space/Unit

Community Features Other, Barbecue, Play Area, No Pool

Roof Type Composition

Private Pool No

Building

Sewer Public Sewer

Water Master Meter

Structure Type Sidewalk(s)

New Construction No

Schools

School District Phoenix Union High School District

Others

Senior Community No

Tax ID 109-58-047

Acceptable Financing Conventional, 1031 Exchange

Disclosures None

Listing Terms Conventional, 1031 Exchange

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Listed by Fathom Realty • Ari Verma

Nearby School & Business

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Jay Patel

+1(623) 888-6210

Team Leader | SA539421000

Team Leader SA539421000

909 S 35TH Avenue Phoenix, AZ 85009

Jay Patel

Key Details

Location

Interior

Exterior

Building

Schools

Others

Nearby School & Business

Get More Information