Courtesy of Matthews Real Estate Investment Services
Property Description
Extensively renovated 8-unit multifamily community located along the I-17 corridor in Central Phoenix. Originally constructed in 1958, the property recently underwent a comprehensive renovation program totaling more than $400,000 in capital improvements. Upgrades include replacement of all plumbing and the main sewer line, new electrical systems, a new roof, repaved asphalt, and fully renovated unit interiors, providing investors with a truly turnkey asset requiring minimal ongoing maintenance or near-term capital expenditures. The property features an attractive mix of studio, one-bedroom, and two-bedroom floorplans currently generating nearly $10,600 in gross monthly rental income, offering stable day-one cash flow with strong long-term upside. 7.82% cap rate on current financials.
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
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Bathrooms
- 8 total bathrooms
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Bedrooms
- 10 total bedrooms
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Building
- Built in 1971
- 2 buildings
- Construction Materials: Wood Frame, Painted, Block
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Community
- No Pool
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Cooling
- Electric
- Individual
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Disclosures
- None
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Expenses
- Electric: $3,000
- Fuel: $360
- Gardener: $1,488
- Insurance: $4,774
- Operating: $16,987
- Trash: $1,872
- Water/Sewer: $3,000
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Floors
- Vinyl
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Heating
- Electric
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Income
- Gross ScheduledIncome: $127,128
- Net Operating Income: $108,345
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Listing
- Listing ID: 7043158
- Standard Status: Active
- MLS Status: Active
- 79 days on market
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Location
- Subdivision: AMBASSADOR HTS 9-14
- County/Parish: Maricopa
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Lot
- Dimensions: 152 X 60
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Owner Pays
- Trash Collection
- Water
- Sewer
- Landscaping
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Parking
- 12 open parking spaces
- 12 total parking spaces
- Paved
- 1 Space/Unit
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Roof
- Built-Up
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Schools
- High School District: Glendale Union High School District
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Sewer
- Public Sewer
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Taxes
- Additional parcels description:
- Parcel Number: 152-14-014-A
- Public Survey Range: 2E
- Public Survey Section: 11
- Annual Amount: $2,493
- Tax Book Number: 152.00
- Legal Description: AMBASSADOR HTS PT LOT 4 E2 LOT 4 EX W 267.81′ & EX S 150F & EX E 300F TH/OF & EX N 30F RD
- Lot: 4
- Parcel Letter: A
- Year: 2025
- Zoning: R-3
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Utilities
- Water Source: City Franchise
- SRP
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This content last updated on September 5, 2026 5:08AM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.