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.

Listing courtesy of Matthews Real Estate Investment Services.



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Last checked: 2026-09-24 08:53 AM UTC