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9404 N 2nd Pl 8 Unit Apartment Building $1,500,000 ($187,500/Unit) 6.21% Cap Rate Phoenix, AZ 85020
Investment Highlights
- Fully renovated four-unit property featuring two-bedroom, one-bathroom layouts in each unit.
- Convenient access to major highways, including I-17 and SR-51, within a few minutes’ drive.
- Close proximity to employment centers in Uptown Phoenix, Downtown Phoenix, and surrounding submarkets.
- Positioned within an active rental market near schools, retail amenities, and public transportation.
- Shared courtyard space adds tenant appeal and community connectivity.
- Currently configured for investor or owner-occupant flexibility with financing options available.
Executive Summary
This fully renovated eight-unit multi-family property offers a rare investment opportunity in the Sunnyslope neighborhood of Phoenix. Each unit includes two bedrooms and one bathroom, creating consistent functionality for tenants and strong long-term occupancy potential. Interior finishes have been completely updated with modern flooring, upgraded kitchen appliances, and refreshed layouts, minimizing immediate capital expenditures for a new owner.
Situated north of Downtown Phoenix, the property provides convenient access to major thoroughfares such as Interstate 17, State Route 51, and Loop 101, connecting residents to employment hubs, retail centers, and recreational destinations throughout the region. Located in a highly rentable residential corridor, the property benefits from proximity to Sunnyslope High School, local dining, and neighborhood services, while being just a short drive to Uptown and Midtown Phoenix districts.
This asset is well-suited for an investor seeking stabilized income, potential long-term appreciation, and multiple leasing configurations, including the option for owner occupancy of one unit while renting the others.
Situated north of Downtown Phoenix, the property provides convenient access to major thoroughfares such as Interstate 17, State Route 51, and Loop 101, connecting residents to employment hubs, retail centers, and recreational destinations throughout the region. Located in a highly rentable residential corridor, the property benefits from proximity to Sunnyslope High School, local dining, and neighborhood services, while being just a short drive to Uptown and Midtown Phoenix districts.
This asset is well-suited for an investor seeking stabilized income, potential long-term appreciation, and multiple leasing configurations, including the option for owner occupancy of one unit while renting the others.
Property Facts
| Price | $1,500,000 | Building Class | C |
| Price Per Unit | $187,500 | Lot Size | 0.36 AC |
| Sale Type | Investment | Building Size | 4,800 SF |
| Cap Rate | 6.21% | No. Stories | 1 |
| No. Units | 8 | Year Built/Renovated | 1948/2022 |
| Property Type | Multifamily | Parking Ratio | 1.67/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R-5, R1-6 - Multifamily Residential | ||
| Price | $1,500,000 |
| Price Per Unit | $187,500 |
| Sale Type | Investment |
| Cap Rate | 6.21% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.36 AC |
| Building Size | 4,800 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1948/2022 |
| Parking Ratio | 1.67/1,000 SF |
| Zoning | R-5, R1-6 - Multifamily Residential |
Amenities
Unit Amenities
- Air Conditioning
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | 510 |
| 2+1 | 4 | - | 625 |
1 1
Moderately walkable
60/100
Moderately drivable
60/100
Some public transit
40/100
Moderately bikeable
70/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $0 | Total Assessment | $17,262 |
Property Taxes
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$17,262
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9404 N 2nd Pl