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8910-8912 N 3rd St 10 Unit Apartment Building $1,500,000 ($150,000/Unit) 7.28% Cap Rate Phoenix, AZ 85020
Investment Highlights
- 100% Occupied — 10 of 10 Units Leased, Income Mode Day One
- ±$355,000+ Capital Invested — Full Electrical Overhaul, Interior Renovations & Exterior Refresh
- 7.28% Cap Rate | $109,135 NOI | Offered at $150,000/Unit | OBO — Send Your Offers
- 10-Unit Multifamily | Two Buildings, Two Parcels | Central Phoenix / Uptown Corridor
- Unit Mix: 2 × 2BR/1BA · 6 × 1BR/1BA · 2 × Studio | 10 On-Site Parking Spaces | Walk-Up Style
- Block Construction | Year Built 1945 | Fully Renovated Through 2025 | De-Risked Future Capex
Executive Summary
100% OCCUPIED | $1,600,000 | OBO — SEND YOUR OFFERS. A 10-unit, fully renovated multifamily asset in central Phoenix's Sunnyslope / North Central corridor — block construction, on-site parking, and a completed capital plan that puts the next owner in income mode on day one.
Two 5-plex buildings on two contiguous parcels (±25,000 SF combined) with a compelling unit mix: 2 × 2BR/1BA · 6 × 1BR/1BA · 2 × Studio. Year built: 1945, fully renovated through 2025. The capital plan is complete — full electrical overhaul (±$121,000), unit-by-unit interior renovation, and exterior refresh totaling ±$355,000+ in improvements. 10 of 10 units leased. The next owner inherits a renovated, financeable asset with the deferred-maintenance risk pulled forward and paid for — and a clear runway for rent growth as in-place leases renew.
Offered at $160,000/unit | 6.82% Cap Rate | $109,135 NOI | Submarket: Central Phoenix / Uptown corridor.
Two 5-plex buildings on two contiguous parcels (±25,000 SF combined) with a compelling unit mix: 2 × 2BR/1BA · 6 × 1BR/1BA · 2 × Studio. Year built: 1945, fully renovated through 2025. The capital plan is complete — full electrical overhaul (±$121,000), unit-by-unit interior renovation, and exterior refresh totaling ±$355,000+ in improvements. 10 of 10 units leased. The next owner inherits a renovated, financeable asset with the deferred-maintenance risk pulled forward and paid for — and a clear runway for rent growth as in-place leases renew.
Offered at $160,000/unit | 6.82% Cap Rate | $109,135 NOI | Submarket: Central Phoenix / Uptown corridor.
Financial Summary (Pro Forma - 2027) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$132,000
|
$25.38
|
| Other Income |
$10,080
|
$1.94
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$142,080
|
$27.32
|
| Taxes |
$2,732
|
$0.53
|
| Operating Expenses |
$30,213
|
$5.81
|
| Total Expenses |
$32,945
|
$6.34
|
| Net Operating Income |
$109,135
|
$20.99
|
Financial Summary (Pro Forma - 2027)
| Gross Rental Income | |
|---|---|
| Annual | $132,000 |
| Annual Per SF | $25.38 |
| Other Income | |
|---|---|
| Annual | $10,080 |
| Annual Per SF | $1.94 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $142,080 |
| Annual Per SF | $27.32 |
| Taxes | |
|---|---|
| Annual | $2,732 |
| Annual Per SF | $0.53 |
| Operating Expenses | |
|---|---|
| Annual | $30,213 |
| Annual Per SF | $5.81 |
| Total Expenses | |
|---|---|
| Annual | $32,945 |
| Annual Per SF | $6.34 |
| Net Operating Income | |
|---|---|
| Annual | $109,135 |
| Annual Per SF | $20.99 |
Property Facts
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Freezer
- Patio
- Vinyl Flooring
- Window Coverings
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Online Services
- Private Bathroom
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | $975.00 | 350 |
| 1+1 | 6 | $1,098 | 500 - 600 |
| 2+1 | 2 | $1,125 | 750 |
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Moderately walkable
60/100
Moderately drivable
70/100
Good public transit
60/100
Very bikeable
80/100
Property Taxes
| Parcel Numbers | Total Assessment | $12,627 (2025) | |
| Land Assessment | $1,253 (2025) | Annual Taxes | $2,732 ($0.53/SF) |
| Improvements Assessment | $0 (2025) | Tax Year | 2027 |
Property Taxes
Parcel Numbers
Land Assessment
$1,253 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$12,627 (2025)
Annual Taxes
$2,732 ($0.53/SF)
Tax Year
2027
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8910-8912 N 3rd St
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