Listed by SJ Fowler Real Estate
$1,699,000
5035 N. 23rd Ave Phoenix, AZ 85015
Details
APN 153-25-053
Property Type Multifamily
Sub Type Apartment Building
Square Footage 5,000
Net Rentable (SqFt) 5,000
Units 9
Cap Rate 7.18%
NOI $122,000
Occupancy 97%
Price per SqFt $340
Broker Co-Op Yes
Class C
Year Built 1929, 1945, 1958, 1962
Year Renovated 2022
Buildings 7
Stories 1
Acreage 0.560
Zoning R-3
Parking Spaces 14 spaces
Parking Per SqFt 2.80
Investment Type Stabilized
Ownership Fee Simple
Uptown Phoenix 9
Marketing description
Uptown PHX 9-unit complex spread out over close to a 25,000-sf lot with R-3 zoning. 7.2 CAP off 2025 P&L w/ 100% occupancy. Nice pocket north of Camelback Road, 1 mile east of GCU & 1/2 mile east of the I-17. Opportunity Zone. Hard to find SELLER FINANCING available but not required (6% interest-only with 30% down in 1st position only). Fully upgraded & fully stabilized. 2025 P&L of $122,000 NOI. Seven buildings. The unit mix consists of (2) two-bedroom units; (4) one-bedroom units; & (3) bigger studio units. The jumbo lot/zoning offers density & additional value potential. Over $250,000 in renovations just a few years ago.
Investment highlights
Highlights:
- Highly competitive 7.2 CAP based on actual $122,000 NOI in 2025.
- Hard to find SELLER FINANCING available but not required (6% interest-only with 30% down 1st position).
- Huge lot: .56 acre, almost 25,000 sf lot. Add density.
- Really nice pocket north of Camelback. 1 mile east of GCU & 1/2 mile east of the I-17.
- Strong long-term upside in the 85015-zip code.
- $250,000 of recent renovations.
Listing Contacts
Listed by SJ Fowler Real Estate
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$122,000.00
$10,166.67/mo
Valuation Metrics
0
DSCR
7.18%
Cap Rate
7.18%
ROI
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