Now 100% Occupied: Renovated Phoenix Triplex 316 E Vogel Ave 3 Unit Apartment Building $845,000 ($281,667/Unit) 5.01% Cap Rate Phoenix, AZ 85020

Welcome to 316–322 E Vogel Ave, a fully occupied North Phoenix triplex offering immediate income, a desirable residential layout and substantial recent improvements. The property consists of two spacious three-bedroom residences plus one casita, providing a diversified unit mix that appeals to a broad tenant base.
The current rent roll reflects $4,745 in monthly base rent plus $250 in utility and pet fees, producing total scheduled income of $4,995 per month, or $59,940 annually. All three residences are currently occupied, allowing an investor to acquire an income-producing property without an initial lease-up period.
PROPERTY HIGHLIGHTS
• Fully occupied three-unit investment
• Two three-bedroom residences plus one casita
• Approximately 3,691 square feet of building area
• Approximately 13,375 square feet of land
• R-3 multifamily residential zoning
• Individual residential buildings offering tenants added privacy
• Individual laundry facilities
• Shared outdoor BBQ and gathering area
• Convenient North Phoenix location within the 85020 ZIP code
RECENT PROPERTY IMPROVEMENTS
The most recent seller-provided capital-improvements summary reports $19,219.29 in repairs and upgrades. Improvements include:
• New 125-amp electrical panel and electrical-service improvements
• Interior repairs, texture and two-tone paint
• Interior doors, closet doors, locks and hardware
• Window repairs and replacement blinds
• Kitchen cabinet refinishing, faucets, hardware and related improvements
• Bathroom mirrors, accessories, fixtures and tub refinishing
• Updated lighting and ceiling fans
• Smoke and carbon-monoxide detectors
• Garage motor and remote replacement
• Sliding-door and closet improvements
• General cleaning, safety and property-condition improvements
The residences also feature updated kitchens and bathrooms, modern appliances, refreshed interiors and a combination of attractive tile and updated flooring.
OUTDOOR AND STORAGE FEATURES
A shared outdoor BBQ and gathering area provides residents with a comfortable space to relax and enjoy Arizona’s outdoor lifestyle. Mature trees, shaded areas, brick walkways and low-maintenance landscaping contribute to the property’s residential character.
The property also includes two large gray storage sheds behind the casita and one permanent storage structure. These structures may provide additional storage utility or potential ancillary income, subject to buyer verification, lease terms and applicable municipal requirements. Seller has indicated that stored contents will be removed before closing.
INVESTMENT OPPORTUNITY
316–322 E Vogel Ave combines full occupancy, three separate living environments, an established income stream and recent capital improvements. The mix of two three-bedroom units and one casita provides diversification while the separate-building configuration offers residents privacy that is uncommon in many small multifamily properties.
This property may be well suited for an investor seeking an occupied North Phoenix multifamily asset with recent improvements and long-term income potential.
Buyer to independently verify the rent roll, leases, income, expenses, improvements, permits, storage uses, property condition and all other facts and figures.


Invest in the Heart of Phoenix: Prime Real Estate Opportunities in 85020
Unlock the potential of one of Phoenix's most desirable neighborhoods with investment properties in the 85020 zip code. This area offers a unique blend of natural beauty, convenience, and growth potential, making it an ideal choice for savvy investors looking to expand their portfolio.
Strategic Location
85020 is strategically situated in the foothills of North Mountain, providing both a picturesque setting and easy access to central Phoenix. The neighborhood’s location ensures high demand for rental properties and commercial investments, given its proximity to key business districts and major roadways.
Healthcare Hub
Investors can benefit from the area's close proximity to top-tier medical facilities, including John C. Lincoln Medical Center. With the hospital's reputation for excellent care and the ongoing demand for healthcare services, properties near this facility are likely to attract long-term tenants and offer stable returns.
Parks and Recreation
The proximity to North Mountain Park and other recreational areas adds significant value to properties in 85020. The park's hiking trails, picnic spots, and natural beauty make the neighborhood a desirable location for those who value outdoor activities, thereby increasing the appeal of rental and commercial properties.
Growing Community
85020 is a community on the rise, with ongoing development and revitalization efforts enhancing its appeal. Investing in this area means capitalizing on a neighborhood that is set for appreciation and increased demand. The local market is buoyed by a mix of residential, commercial, and recreational attractions that draw a diverse and growing population.
Investment Opportunities
From multi-family units to commercial real estate, 85020 offers a variety of investment opportunities. The area's steady demand for housing and businesses creates a promising environment for rental income and property value growth. Whether you’re considering residential rental properties, mixed-use developments, or commercial ventures, 85020 provides a solid foundation for successful investments.
Why 85020?
Investing in 85020 means positioning yourself in a flourishing area with high growth potential and strong community ties. With its strategic location, access to healthcare, recreational amenities, and ongoing development, this neighborhood presents a compelling opportunity for real estate investors looking to make a wise investment in Phoenix.
Explore the potential of 85020 and discover why it’s the right choice for your next real estate investment. Embrace a future of growth and prosperity in this vibrant Phoenix community.