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2002 W Jefferson St 4 Unit Apartment Building $539,000 ($134,750/Unit) Phoenix, AZ 85009
Investment Highlights
- Currently configured as five units with month-to-month tenants providing consistent cash flow.
- Located in downtown Phoenix near government, business, and cultural districts.
- Includes essential appliances such as refrigerator, built-in electric oven, and washer/dryer.
- Opportunity exists to reconfigure into seven units for additional revenue.
- Easy access to Interstate 10 and nearby public transit, enhancing tenant convenience.
- Offered in as-is condition, accommodating experienced investors ready for repositioning efforts.
Executive Summary
Positioned in downtown Phoenix, this multifamily property offers an attractive opportunity for investors looking to enter a rapidly growing urban market. The site is currently improved with five tenant-occupied units that operate on flexible month-to-month lease agreements. Generating approximately $77,400 in annual gross income, the property delivers stable in-place revenue while offering significant upside potential through unit optimization. With two non-conforming units onsite, there is room to reposition the asset into seven income-producing units, thereby enhancing cash flow and property value.
The surrounding neighborhood is a dense, urban environment benefiting from proximity to the Arizona State Capitol, downtown business hubs, and major Phoenix transit routes. Access to Interstate 10 and the light rail system provides seamless connectivity across the metropolitan area, supporting tenant demand for centrally located housing. For savvy investors seeking a value-add play, this property combines competitive pricing, income diversity, and strong residential fundamentals within Phoenix's high-demand multifamily sector.
The surrounding neighborhood is a dense, urban environment benefiting from proximity to the Arizona State Capitol, downtown business hubs, and major Phoenix transit routes. Access to Interstate 10 and the light rail system provides seamless connectivity across the metropolitan area, supporting tenant demand for centrally located housing. For savvy investors seeking a value-add play, this property combines competitive pricing, income diversity, and strong residential fundamentals within Phoenix's high-demand multifamily sector.
Property Facts
| Price | $539,000 | Building Class | C |
| Price Per Unit | $134,750 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 2,649 SF |
| No. Units | 4 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built | 1935 |
| Apartment Style | Low-Rise | ||
| Zoning | R-3 - Multifamily | ||
| Price | $539,000 |
| Price Per Unit | $134,750 |
| Sale Type | Investment |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 2,649 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1935 |
| Zoning | R-3 - Multifamily |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | - | - |
1 1
Fairly walkable
40/100
Exceptionally drivable
90/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 109-49-120 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $6,379 |
Property Taxes
Parcel Number
109-49-120
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$6,379
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2002 W Jefferson St