Star Max Realty
Listed by Star Max Realty
$2,980,000
Phoenix Airport Area 12-Unit Investment Property
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 9,180
Units 12
Beds 2
Cap Rate 7.90%
NOI $152,081
Occupancy 100%
Tenancy Multi
Year Built 1963
Year Renovated 2023
Buildings 4
Acreage 0.690
Zoning R-3 Multi-Family Residential
Parking Spaces 24 spaces
Parking per 1,000 SqFt 2.61
Investment Type Stabilized
Sale Condition For sale by owner
Multifamily | 7.90% CAP | 12 Units
Marketing description
12 stable rental units located in Phoenix's airport economic area, featuring strong rental demand and a proven operating history, delivering reliable cash flow and long-term return potential.
Investment highlights
- Sustained Growth in Phoenix's Airport Economic Corridor As one of Arizona's most dynamic economic growth corridors, the Phoenix Airport area continues to benefit from population growth, business expansion, and increasing employment opportunities, supporting long-term demand for rental housing. The property consists of four freestanding residential buildings with a total of twelve rental units situated on approximately 30,024 square feet of land. All units feature efficient two-bedroom, one-bathroom floor plans and have maintained stable occupancy, providing reliable cash flow and proven operational performance. Combined with its sizable land parcel and future redevelopment potential, the property offers a rare combination of stable income, capital preservation, and long-term appreciation within the Phoenix multifamily investment market.
- Prime Location with Strong and Growing Rental Demand Located within the core residential area of the Phoenix Airport Economic Corridor, the property enjoys immediate access to Phoenix Sky Harbor International Airport, Interstate 10, and numerous major employment centers in the logistics, manufacturing, and industrial sectors. Excellent transportation infrastructure, established neighborhood amenities, and continued population growth have created a healthy and expanding rental market. The area's strong employment base and convenient location provide a consistent tenant pool while supporting long-term occupancy, rental growth, and asset appreciation.
- Well-Maintained Property with Efficient Operating Structure The property consists of four freestanding buildings comprising twelve two-bedroom, one-bathroom residential rental units designed to meet long-term local housing demand. Each unit is equipped with a refrigerator, gas range, range hood, gas water heater, and in-unit washer connections for tenant convenience. Separate electric meters, separate gas meters, and individual utility responsibilities help reduce operating expenses while improving management efficiency. The community also features perimeter fencing and dedicated parking, with two parking spaces assigned to each unit, enhancing tenant satisfaction, property competitiveness, and long-term occupancy stability.
- Stable Cash Flow Combined with Long-Term Land Value This investment combines the dependable income of a stabilized multifamily property with the long-term appreciation potential of a large land parcel in one of Phoenix's fastest-growing submarkets. Investors benefit from immediate rental income while also participating in future land appreciation driven by continued population growth, employment expansion, and ongoing infrastructure investment. The combination of current cash flow and future redevelopment potential provides a balanced investment opportunity with attractive long-term value.
- Future Redevelopment Potential Creates Additional Upside Under the current zoning framework, the property offers meaningful long-term redevelopment potential, providing investors with an additional source of value beyond existing rental operations. As developable land becomes increasingly limited and construction costs continue to rise, large corner parcels such as this property become progressively more valuable. Whether held for long-term income, repositioned for operational improvements, or redeveloped under future market conditions, the site offers multiple pathways to increase land utilization and overall asset value.
- A Long-Term Investment Offering Income, Stability, and Growth Overall, the property combines the advantages of a stabilized multifamily asset, efficient operations, an exceptional location, and long-term redevelopment potential within one of Phoenix's strongest economic corridors. Stable cash flow, quality property improvements, future development opportunities, and continued regional economic growth together create a compelling investment profile. For investors seeking long-term ownership, portfolio diversification, a 1031 exchange opportunity, or future redevelopment potential, this property represents a high-quality multifamily investment offering income, stability, and long-term appreciation
Listing Contacts
Star Max Realty
Listed by Star Max Realty
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$152,081.00
$12,673.42/mo
Valuation Metrics
0
DSCR
5.1%
Cap Rate
5.1%
ROI
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