2719 W Maryland Ave 8 Unit Apartment Building $1,385,000 ($173,125/Unit) 7.82% Cap Rate Phoenix, AZ 85017

Matthews™ is pleased to present 2719 W Maryland Ave, an extensively renovated 8-unit multifamily community located along the I-17 corridor in Central Phoenix. Originally constructed in 1958, the property recently underwent a comprehensive renovation program totaling more than $400,000 in capital improvements. Upgrades include replacement of all plumbing and the main sewer line, new electrical systems, a new roof, repaved asphalt, and fully renovated unit interiors, providing investors with a truly turnkey asset requiring minimal ongoing maintenance or near-term capital expenditures. The property features an attractive mix of studio, one-bedroom, and two-bedroom floorplans currently generating nearly $10,600 in gross monthly rental income, offering stable day-one cash flow with strong long-term upside.
Positioned just west of 27th Avenue near Glendale Avenue with immediate access to Interstate 17, the property benefits from excellent connectivity to major employment corridors throughout Phoenix. Residents enjoy proximity to retail centers, public transportation, schools, healthcare facilities, and everyday conveniences, supporting long-term rental demand in the area. The surrounding submarket continues to experience strong population growth and rental demand driven by affordability relative to other Phoenix neighborhoods.
2719 W Maryland Ave represents a rare opportunity to acquire a stabilized, cash-flowing apartment community with extensive recent renovations, strong in-place operations, and excellent access to key transportation corridors and neighborhood amenities within one of Phoenix’s most active rental submarkets.
Broker Of Record
David Harrington
Matthews Real Estate Investment Services, Inc
BR715518000, CO701910000 (AZ)
4110 N Scottsdale Rd Suite 100, Scottsdale, AZ 85251 (866) 889-0550