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The Axl in Garfield 1338 E Fillmore St 4 Unit Apartment Building $995,000 ($248,750/Unit) 4.65% Cap Rate Phoenix, AZ 85006
Investment Highlights
- 4-Unit Garden-Style Property, Block Construction, Built in 1965, 1968, & 1996
- (3) 2-Bed / 1-Bath Units & (1) 1-Bed / 1-Bath Unit
- Located in the Garfield Historic District, Minutes From Downtown
- Extensively Remodeled Interiors & Exteriors in 2024
- Dedicated Parking, Private Yards, & In-Unit Washer / Dryers
- Residential Financing Available
Executive Summary
The Axl in Garfield is a 4-unit garden-style community featuring solid block construction and extensive renovations completed in 2024. Originally built in 1965, 1968, and 1996, the property has been fully modernized inside and out, blending mid-century charm with contemporary finishes for today's urban renter.
The community consists of (3) two-bedroom / one-bath units and (1) one-bedroom / one-bath unit, each showcasing brand-new interiors with upgraded flooring, cabinetry, countertops, stainless steel appliances, and in-unit washer/dryers. Select residences also feature private fenced yards, offering a rare level of privacy and livability in this highly walkable neighborhood.
Residents enjoy dedicated parking, low-maintenance landscaping, and immediate access to Downtown Phoenix, all within the historic and rapidly appreciating Garfield District, one of the city's most vibrant and desirable urban enclaves.
With the ability to secure residential financing, The Axl in Garfield presents an ideal opportunity for both new and seasoned investors seeking a turnkey, cash-flowing asset in a dynamic infill location with long-term growth potential.
The community consists of (3) two-bedroom / one-bath units and (1) one-bedroom / one-bath unit, each showcasing brand-new interiors with upgraded flooring, cabinetry, countertops, stainless steel appliances, and in-unit washer/dryers. Select residences also feature private fenced yards, offering a rare level of privacy and livability in this highly walkable neighborhood.
Residents enjoy dedicated parking, low-maintenance landscaping, and immediate access to Downtown Phoenix, all within the historic and rapidly appreciating Garfield District, one of the city's most vibrant and desirable urban enclaves.
With the ability to secure residential financing, The Axl in Garfield presents an ideal opportunity for both new and seasoned investors seeking a turnkey, cash-flowing asset in a dynamic infill location with long-term growth potential.
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $995,000 | Apartment Style | Low-Rise |
| Price Per Unit | $248,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 4.65% | Building Size | 2,348 SF |
| No. Units | 4 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1965/2024 |
| Property Subtype | Apartment | Parking Ratio | 2.13/1,000 SF |
| Zoning | R-3 - Multiple Family Residence | ||
| Price | $995,000 |
| Price Per Unit | $248,750 |
| Sale Type | Investment |
| Cap Rate | 4.65% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 2,348 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1965/2024 |
| Parking Ratio | 2.13/1,000 SF |
| Zoning | R-3 - Multiple Family Residence |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Washer/Dryer
- Ceiling Fans
- Kitchen
- Oven
- Stainless Steel Appliances
- Vinyl Flooring
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $1,250 | 515 |
| 2+1 | 3 | $1,323 | 611 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 116-24-168 | Total Assessment | $8,539 (2025) |
| Land Assessment | $0 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $0 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
116-24-168
Land Assessment
$0 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$8,539 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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Map
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Contact the Sale Advisor
The Axl in Garfield | 1338 E Fillmore St