1747 E Virginia Ave
Multifamily | 4 Units | Fully Renovated
Marketing description
Matthews™ is pleased to present 1747 E Virginia Ave, a 4-unit multifamily opportunity located in Phoenix, AZ. Built in 1971, the property features 100% 2-bedroom, 1 bath units, all of which have been renovated with granite counter tops, white shaker cabinetry, stainless steel appliances, in-unit washer/dryer, and more. The community also features a private BBQ area and covered parking. Additionally, the property is within walking distance to Phoenix Children's Hospital and nearby other points of interest such as Downtown Phoenix and the Biltmore Fashion Park. With its close proximity to the hospital, there is potential to convert the units to mid-term rentals upon lease expiration, which typically yields a rent premium over traditional year-long leases.
Investment highlights
4-Unit Multifamily Investment | Built in 1971 - Well-maintained small multifamily asset featuring four total residential units, offering an attractive scale for both seasoned and first-time investors.
Desirable Unit Mix: Four (4) 2 Bedroom / 1 Bathroom Units - A highly marketable configuration that appeals to a broad tenant base, supporting stable occupancy and consistent rental demand.
Average Unit Size of 690 Square Feet - Efficiently designed floor plans that maximize livability while maintaining strong rent-to-size ratios.
Extensively Renovated Interior & Exterior - Property has undergone substantial upgrades, enhancing curb appeal and interior finishes while reducing near-term capital expenditure requirements.
In-Unit Washer & Dryer in All Units - A premium amenity that improves tenant convenience, supports higher rents, and reduces turnover.
Strategic Location Near Phoenix Children’s Hospital - Close proximity to a major medical employment hub, providing a steady pool of healthcare professionals and support staff.
Compelling Mid-Term Rental Opportunity - Ideal for furnished or flexible-term leasing to traveling nurses, medical professionals, and corporate tenants, offering potential for enhanced cash flow.
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