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Tierra Verde 927 S 35th Ave 10 Unit Apartment Building $1,275,000 ($127,500/Unit) 10.36% Cap Rate Phoenix, AZ 85009
INVESTMENT HIGHLIGHTS
- Income producing VALUE ADD expansion opportunity on the 921 parcel. Space for options like storage units, vending machines, laundry room...etc
- Low property taxes. $1,167 per year
EXECUTIVE SUMMARY
*** Sale includes TWO PARCELS - 921 Parcel (4 Units) # 109-58-049 & & 927 Parcel (6 Units) # 109-58-050 ***
10-Unit Multifamily Investment Opportunity! This renovated and cash-flowing property is in a strong central Phoenix rental market, consisting of 8 one-bedroom/one-bath units and 2 studio units, all renovated around 2022-2023, modern finishes and several updated systems. Each unit is separately metered for electricity, reducing ownership expenses and simplifying management. Very low property tax expense on this one ($1,167/yr). This sale includes two parcels, with the north parcel at 921 S 35th Ave, offering a big space to work with—a rare opportunity for value-add expansion. The additional land provides space to build storage units, install vending machines, add a laundry facility, or develop additional income-producing amenities, significantly increasing future cash flow and property value.
The property is fully occupied with month-to-month leases.
Located near major employment corridors, transit routes, and downtown Phoenix, this property combines stable current income with long-term upside. Excellent turnkey investment with small development potential.
10-Unit Multifamily Investment Opportunity! This renovated and cash-flowing property is in a strong central Phoenix rental market, consisting of 8 one-bedroom/one-bath units and 2 studio units, all renovated around 2022-2023, modern finishes and several updated systems. Each unit is separately metered for electricity, reducing ownership expenses and simplifying management. Very low property tax expense on this one ($1,167/yr). This sale includes two parcels, with the north parcel at 921 S 35th Ave, offering a big space to work with—a rare opportunity for value-add expansion. The additional land provides space to build storage units, install vending machines, add a laundry facility, or develop additional income-producing amenities, significantly increasing future cash flow and property value.
The property is fully occupied with month-to-month leases.
Located near major employment corridors, transit routes, and downtown Phoenix, this property combines stable current income with long-term upside. Excellent turnkey investment with small development potential.
DATA ROOM Click Here to Access
- Operating and Financials
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$151,535
|
$34.44
|
| Other Income |
$7,885
|
$1.79
|
| Vacancy Loss |
$4,500
|
$1.02
|
| Effective Gross Income |
$154,920
|
$35.21
|
| Taxes |
$1,167
|
$0.27
|
| Operating Expenses |
$18,300
|
$4.16
|
| Total Expenses |
$19,467
|
$4.42
|
| Net Operating Income |
$135,453
|
$30.78
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $151,535 |
| Annual Per SF | $34.44 |
| Other Income | |
|---|---|
| Annual | $7,885 |
| Annual Per SF | $1.79 |
| Vacancy Loss | |
|---|---|
| Annual | $4,500 |
| Annual Per SF | $1.02 |
| Effective Gross Income | |
|---|---|
| Annual | $154,920 |
| Annual Per SF | $35.21 |
| Taxes | |
|---|---|
| Annual | $1,167 |
| Annual Per SF | $0.27 |
| Operating Expenses | |
|---|---|
| Annual | $18,300 |
| Annual Per SF | $4.16 |
| Total Expenses | |
|---|---|
| Annual | $19,467 |
| Annual Per SF | $4.42 |
| Net Operating Income | |
|---|---|
| Annual | $135,453 |
| Annual Per SF | $30.78 |
PROPERTY FACTS
| Price | $1,275,000 | Apartment Style | Garden |
| Price Per Unit | $127,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.42 AC |
| Cap Rate | 10.36% | Building Size | 3,958 SF |
| Gross Rent Multiplier | 8.41 | Average Occupancy | 0% |
| No. Units | 10 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1950 |
| Property Subtype | Apartment | ||
| Zoning | M-H | ||
| Price | $1,275,000 |
| Price Per Unit | $127,500 |
| Sale Type | Investment |
| Cap Rate | 10.36% |
| Gross Rent Multiplier | 8.41 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.42 AC |
| Building Size | 3,958 SF |
| Average Occupancy | 0% |
| No. Stories | 1 |
| Year Built | 1950 |
| Zoning | M-H |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Microwave
- Heating
- Ceiling Fans
- Refrigerator
SITE AMENITIES
- 24 Hour Access
- Walking/Biking Trails
- Storage Space
- Public Transportation
- Private Bathroom
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | $1,138 | 373 - 512 |
| Studios | 2 | $975.00 | 272 |
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PROPERTY TAXES
| Parcel Number | 109-58-049 | Total Assessment | $4,024 |
| Land Assessment | $0 | Annual Taxes | $1,167 ($0.29/SF) |
| Improvements Assessment | $0 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
109-58-049
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$4,024
Annual Taxes
$1,167 ($0.29/SF)
Tax Year
2025
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Tierra Verde | 927 S 35th Ave
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