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2916 E Monroe St 9 Unit Apartment Building $1,040,000 ($115,556/Unit) 7.53% Cap Rate Phoenix, AZ 85034
Investment Highlights
- 100% occupied 9-unit multifamily with stable cash flow and value-add upside.
- Strategic Phoenix location near Downtown, Sky Harbor Airport, Loop 202, and I-10.
- Attractive price per unit at $115,555 and price per SF at $241.
- Diverse unit mix: studios, 1BR, 2BR, and a large 3BR unit over 1,000 SF.
- Recent full sewer line replacement mitigates major capital expense risk.
- Pro forma cap rate of 7.78% with NOI of $78,335 and proven rent growth.
Executive Summary
David Harrington
Matthews Real Estate Investment Services, Inc
License # CO701910000, BR715518000 (AZ)
4110 N Scottsdale Rd Suite 100, Scottsdale, AZ 85251
(866) 889-0550
Matthews Real Estate Investment Services, Inc
License # CO701910000, BR715518000 (AZ)
4110 N Scottsdale Rd Suite 100, Scottsdale, AZ 85251
(866) 889-0550
Property Facts
| Price | $1,040,000 | Apartment Style | Low-Rise |
| Price Per Unit | $115,556 | Building Class | C |
| Sale Type | Investment | Building Size | 4,306 SF |
| Cap Rate | 7.53% | No. Stories | 1 |
| No. Units | 9 | Year Built | 1946 |
| Property Type | Multifamily | Parking Ratio | 0.93/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | M-H - Multifamily | ||
| Price | $1,040,000 |
| Price Per Unit | $115,556 |
| Sale Type | Investment |
| Cap Rate | 7.53% |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Building Size | 4,306 SF |
| No. Stories | 1 |
| Year Built | 1946 |
| Parking Ratio | 0.93/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | M-H - Multifamily |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
1 1
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $0 | Total Assessment | $22,015 |
Property Taxes
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$22,015
Contacts
-
Sara Kuglin -
Brad Skenderian -
Kyle Inman -
Matthews Real Estate Investment Services
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2916 E Monroe St
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