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2210 W MORTEN AVE, Phoenix, AZ 85021 2210 W Morten Ave 5 Unit Apartment Building $450,000 ($90,000/Unit) 7.31% Cap Rate Phoenix, AZ 85021
INVESTMENT HIGHLIGHTS
- Mid-Construction 5 Unit with pending site plan with city currently.
EXECUTIVE SUMMARY
5 Unit building Mid-construction, Pre-app approved, Currently under site plan review pending with city due shortly. Come finish this property now and take advantage of a true value-add opportunity.
Redevelopment opportunity in Central Phoenix. This half-finished structure is framed for five residential units and sits on a ±17,424 SF lot with alley access. The building is currently in shell condition — wood framing is complete, and some plumbing has been installed. The site layout allows for 12 future parking spaces at the rear of the property. Located in an established residential neighborhood just south of Northern Avenue, this project is ideal for investors or builders looking to complete and lease or sell in a high-demand infill location. All buyers to verify zoning,
Redevelopment opportunity in Central Phoenix. This half-finished structure is framed for five residential units and sits on a ±17,424 SF lot with alley access. The building is currently in shell condition — wood framing is complete, and some plumbing has been installed. The site layout allows for 12 future parking spaces at the rear of the property. Located in an established residential neighborhood just south of Northern Avenue, this project is ideal for investors or builders looking to complete and lease or sell in a high-demand infill location. All buyers to verify zoning,
FINANCIAL SUMMARY (PRO FORMA - 2026) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$58,500
|
$3.36
|
FINANCIAL SUMMARY (PRO FORMA - 2026)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $58,500 |
| Annual Per SF | $3.36 |
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Tub/Shower
- Freezer
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Tenant Controlled HVAC
- Public Transportation
- Private Bathroom
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 5 | $1,500 | 851 |
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2210 W MORTEN AVE, Phoenix, AZ 85021 | 2210 W Morten Ave
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