Missouri Apartments 825 E Missouri Ave 10 Unit Apartment Building $2,709,000 ($270,900/Unit) 6% Cap Rate Phoenix, AZ 85014

CBRE is pleased to present Missouri Apartments, a meticulously renovated 10-unit multifamily community located in the heart of central Phoenix. Originally constructed in 1954 and completely renovated in 2019, this property offers spacious and thoughtfully designed living spaces. Each unit features a desirable one-bedroom, one-bathroom floor plan, providing approximately 500 square feet of comfortable living space. Residents of Missouri Apartments benefit from modern, stylish interiors equipped with individual HVAC systems, convenient in-unit washers and dryers, dishwashers, and microwaves. The units also boast stainless steel appliances, contemporary backsplashes, elegant quartz/granite countertops in the kitchen and bathrooms, and durable, attractive wood plank vinyl flooring throughout.
Having undergone a comprehensive renovation in 2019, this property presents a truly turnkey investment opportunity. The extensive renovations encompassed a complete overhaul, including all-new plumbing, electrical systems, a brand-new roof, and modern, energy-efficient HVAC units. Furthermore, the property boasts new doors and windows throughout, enhancing both aesthetics and energy efficiency. This meticulous attention to detail means that all the major, costly renovations have already been completed, freeing future ownership from the burden of immediate capital expenditures. Located in a prime area of Uptown Phoenix, this investment offers immediate cash flow and the peace of mind knowing that the critical infrastructure is completely updated and ready for years of reliable service, making it an exceptional choice for investors seeking a low-maintenance, high-return asset.