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.
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Property Details and Features
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Appliances & Equipment
- “Built-In Range”
- “Disposal”
- “Refrigerator”
- “Microwave”
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Building
- Built in 1971
- Construction materials: “Wood Frame”, “Painted”, “Block”
- 8 total units
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Cooling
- “Electric”
- “Individual”
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Expenses
- Electric: $3,000
- Fuel: $360
- Insurance: $4,774
- Water sewer: $3,000
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Floors
- “Vinyl”
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Heating
- “See Remarks”
- “Electric”
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Listing
- Listing ID: 7043158
- Standard status: Active
- 6 days on market
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Location
- Subdivision name: AMBASSADOR HTS 9-14
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Parking
- “Paved”
- “1 Space/Unit”
- 12 total parkings
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Property
- Zoning: R-3
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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
- Annual amount: $2,493
- Lot: 4
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Utilities
- “SRP”
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This content last updated on June 24, 2026 5:12PM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.