4012 N 15th Ave 5 Unit Apartment Building $1,185,000 ($237,000/Unit) 5.20% Cap Rate Phoenix, AZ 85015

**4012 N 15th Avenue | Phoenix, AZ**
Excellent opportunity to acquire a **5-unit multifamily investment property in Central Phoenix**. The property features a highly desirable and consistent unit mix of **five 2-bedroom / 1-bathroom units**, offering investors immediate income with additional upside through rental growth.
The property is currently generating approximately **$6,550 per month in scheduled rental income**, with projected market rents of approximately **$7,500 per month**. Based on the current asking price of **$1,185,000**, the property offers an estimated **5.20% current cap rate** with the potential to reach approximately a **6.10% stabilized cap rate**.
The property has been well maintained and features updated interiors, including modern kitchens, stainless steel appliances, updated cabinetry, flooring, and finishes. The low-maintenance exterior and functional unit layouts make this an attractive opportunity for investors seeking a manageable multifamily asset.
Located in the **Central Phoenix infill market**, the property provides convenient access to Downtown Phoenix, major employment centers, healthcare, schools, retail, dining, and major transportation corridors.
**Investment Highlights**
* 5 Multifamily Units
* Five 2-Bedroom / 1-Bathroom Units
* Asking Price: **$1,185,000**
* Current Scheduled Rent: **$6,550/Month**
* Projected Market Rent: **$7,500/Month**
* Current NOI: Approximately **$61,615**
* Current Cap Rate: Approximately **5.20%**
* Stabilized NOI: Approximately **$72,331**
* Stabilized Cap Rate: Approximately **6.10%**
* Approximately **$950/Month in Rental Upside**
* Central Phoenix Infill Location
* Updated Units
* Strong Value-Add / Mark-to-Market Opportunity
An attractive opportunity for an investor seeking a **turnkey Central Phoenix multifamily asset with existing cash flow and additional rental upside**.