Courtesy of Matthews Real Estate Investment Services
Property Description
The Mojave is a 27-unit, garden-style multifamily community located in Phoenix, AZ. Originally constructed in 1986 and extensively renovated in 2022, current and previous ownership has invested over $680,000 in capex into the property including a full interior renovation package on all 27 units (all with washer/dryer), new roof, asphalt replacement, upgraded landscaping, exterior painting and fencing, more. Even with significant capital improvements made over the past 5 years, new ownership can capture immediate upside by replacing the grass area with artificial turf, which will generate an estimated $5,000 to $10,000 in annual expense savings. This is a compelling opportunity for investors seeing a true turnkey, cash flowing asset with additional upside potential.
Open House
Property Details and Features
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Property Access
- Road Surface: Asphalt
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Appliances & Equipment
- Built-In Range
- Disposal
- Refrigerator
- Microwave
- Washer/Dryer
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Bathrooms
- 41 total bathrooms
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Bedrooms
- 28 total bedrooms
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Building
- Built in 1986
- 1 building
- Construction Materials: Wood Frame, Painted, Stucco
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Community
- Pool
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Cooling
- Individual
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Disclosures
- None
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Expenses
- Electric: $4,704
- Gardener: $4,725
- Insurance: $7,568
- Maintenance: $12,150
- Operating: $64,082
- Trash: $1,942
- Water/Sewer: $10,679
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Floors
- Vinyl
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Heating
- Individual
- Electric
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Income
- Gross Income: $320,084
- Gross ScheduledIncome: $312,360
- Net Operating Income: $233,612
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Listing
- Listing ID: 7004263
- Standard Status: Active
- MLS Status: Active
- 162 days on market
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Location
- Subdivision: TERRA BELLA
- County/Parish: Maricopa
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Lot
- Dimensions: 12,458
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Owner Pays
- Trash Collection
- Water
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Parking
- 27 open parking spaces
- 27 total parking spaces
- Paved
- 1 Space/Unit
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Roof
- Composition
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Schools
- High School District: Glendale Union High School District
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Security Features
- Security Light(s)
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Sewer
- Public Sewer
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Taxes
- Additional parcels description:
- Parcel Number: 157-19-141
- Public Survey Range: 2E
- Public Survey Section: 1
- Annual Amount: $5,371
- Tax Book Number: 157.00
- Legal Description: LOT 2 TERRA BELLA MCR 102212
- Lot: 2
- Year: 2025
- Zoning: R-4
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Utilities
- Water Source: Master Meter, City Franchise
- SRP
Property Map
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This content last updated on September 4, 2026 11:58PM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.