Phoenix Multifamily Homes for Sale
  • Home
  • Advanced Search
  • Selling
  • Manage
  • What's My MULTIfamily Worth?
  • Sold
  • Meet Patrick
  • Blog
Login
(602) 842-5050

Sign in to your account

Need to reset your phone number?

Don't have an account with us?

Click here to sign up.

Phoenix MULTIfamily Real Estate for Sale

TO
Advanced Search

Address Search

  • Advanced Search

    Advanced Search

    Find your perfect Phoenix MULTIfamily property

  • Interactive Map Search

    Map Search

    Use our interactive map search tool

  • Home Value

    MULTIfamily Value

    Get an INSTANT, accurate MULTIfamily valuation

Multifamily Homes for Sale in Phoenix, Arizona

Phoenix is the most populated city in, as well as the capital of, the state of Arizona. Home to nearly 4.5 million residents, Phoenix is the 5th largest city in the country by way of population. The cultural center of Arizona, Phoenix has seen steady growth over the last 40 years or so, and continues to be a popular choice for buyers from all around the county. 

Along with a large population, there is a large need for housing to accommodate. Like many urban cities a popular housing option is multifamily homes. 

What is a Multifamily Home? 

A multifamily home refers to a residential home or building that contains more than one unit. There are a wide range of housing styles that could be umbrella’d by the term “multifamily” home. A duplex, triplex, fourplex, and apartment buildings can all be considered multifamily homes. The configuration can range as well from units that are side-by-side or stacked on top of each other. 

Phoenix’s Multifamily Homes Real Estate Market

Real estate options for multifamily homes in Phoenix are quite varied and encompass a number of styles. The majority of properties for sale in Phoenix that feature more than one residential unit are single or two-story buildings ranging between 2 and 6 units. 

The city is home to larger buildings as well, generally low to mid rise, that offer potential for large investments and ways to build one's real estate portfolio. Within the downtown core and urban areas, multifamily homes typically take on the form of large high rise buildings with many units. 

Phoenix has been a steadily growing city and despite seeing signs of other areas slowing down, that has not been in the case here. With an influx of new residents, there is an increased demand for real estate options, particularly rental properties. The city has continued to see strong development in multifamily real estate construction with many apartment buildings, condominium communities and other options popping up all around. 

Multifamily Homes Throughout Phoenix, Arizona

It may seem logical that multifamily homes are mainly concentrated in the urban centers of the city. While this may be true for high-rise apartment and condominium buildings, Phoenix multifamily homes can be found throughout the city and in a number of suburban style neighborhoods as well. 

On the somewhat rare occasion that a high-rise apartment building or condo community in Phoenix does hit the market, chances are it will be in the downtown area. As for duplexes, triplexes, 4-plexes and others, they can be found spread out around the city. 

Neighborhoods such as Garfield, Melrose District, Midtown, ,Uptown, Encanto, , Palmcroft and many more have a high concentration of multifamily homes throughout their communities. Not specifically designated to one section of town, and due to the high demand of rental housing in the city, one can pretty much find a multifamily housing unit in just about every neighborhood in the Phoenix-Metro area. 

Why Buy a Multifamily Home? 

There are a number of reasons why potential buyers are looking at multifamily homes for their next purchase. Typically, large apartment buildings and condominium communities are purchased by corporations or large real estate investment firms. That being said, as long as there is the means to purchase, these sales are available to any buyer. 

Most commonly, multifamily homes that frequently make their way onto the market are smaller buildings. These are great real estate opportunities for seasoned investors and those just making their way into the market. Whether a duplex that will act as part primary residences, part rental income or a larger purchase that is solely for income generating purposes, multifamily homes have historically been a solid investment. 

Financing a Multifamily Home

Buying a multifamily home is a great way to build equity, invest in real estate and build your portfolio, however, unless you have a substantial amount of cash readily available, chances are you will require financing. There are a number of things to consider when financing a multifamily home. 

First, you will need to know what type of property you are purchasing. Depending on the size of the home you may fall under a different qualification process. For example, many lenders will consider a duplex, triplex or even a 4-plex as a residential mortgage, however, once you make your way into large buildings with more units, that can be considered a commercial property and the lending requirements will be different. 

Other considerations include whether you intend to reside in one of the units. If so, you may qualify for an owner-occupant mortgage. If you are solely looking for an investment property you would be staying with a conventional mortgage. Keep in mind, these differences may affect down payment requirements. 

Once you’ve narrowed down the type of mortgage or financing required, ie. residential vs. commercial, you will have to be approved by a lender. There are 3 different ways you can finance your purchase. 

 

  1. A Federal Housing Administration (FHA) Loan - These loans are applicable if you are planning on residing at the property as well as renting out the remaining units. The benefit of a FHA loan is the requirements for lending are less stringent, lower down payments are required and on average interest rates are lower. 
  2. A Veterans Affairs (VA) Loan - Current or former members of a U.S. military branch are able to apply for a Veterans Affairs loan. As long as you are planning on residing in a unit of the property, a VA loan is a great option as it does not require a downpayment, has low qualification requirements, does not require private mortgage insurance and there is no minimum credit score. 
  3. A Conventional Mortgage - Conventional mortgages are the only option available for purchasers who are solely looking at an investment property and have no plans to reside at the duplex, triplex or 4-plex. Conventional mortgages for multifamily homes have a maximum lending limit and will be met with stricter lending criteria. As investment properties generally pose a larger risk to the lender, borrowers are required to put at least 20% down. 

When discussing your financing options with a lender, mortgage broker or bank, it's important to note that you are able to use your rental income to help qualify for your loan. This is especially beneficial to larger properties with many tenants as income can be quite substantial. 

Why Buy & Sell Multifamily Homes With getMULTIfamily.com

The team at getMULTIfamily.com are experts when it comes to multi-family real estate and have worked with numerous buyers and sellers over the years. Specializing in duplexes, triplexes, fourplexes and other multifamily homes, Get Multifamily is the obvious choice when considering your next purchase or sale. 

Get Multifamily is led by Patrick O’Sullivan, who, after acting as a real estate advisor for U-Haul, began an impressive real estate career where he was named Agent of the year, earning the prestigious CCIM (Certified Commercial Investment Member) designation.

Whether you are venturing into the world of real estate investing or are growing your portfolio, Patrick O’Sullivan and Get Multifamily will help you achieve your goals. 

Your Phoenix MULTIfamily Resource

Please watch the short video below to learn how this site will help you find your next MULTIfamily property!

Newest Phoenix MULTIfamily Properties for Sale

3115,3117 E Glenrosa Avenue, Phoenix image
3115,3117 E Glenrosa Avenue, Phoenix $949,999

Amazing condo duplex in heart of 85016 with two separate APNs. Each unit was totally gutted and completely remodeled, and the plumbing/piping was completely gutted and re...

  • 6220697 MLS
305 N 93rd Street, Mesa image
305 N 93rd Street, Mesa $450,000

Fantastic investor opportunity for a fourplex in East Mesa! Four 2 bedroom/1 bathroom units. Three units have long-term tenants and are now month-to-month while one unit...

  • 6220615 MLS
1514 E Culver Street, Phoenix image
1514 E Culver Street, Phoenix $550,000

Great duplex ... 2 units each with 2 bedrooms and 1 bath. Stained concrete floors, updated kitchens, bathrooms and indoor laundry. Huge yard and covered parking.

  • 6219988 MLS
331 N 93rd Street, Mesa image
331 N 93rd Street, Mesa $600,000

Saguaro East Apartments is in the heart Mesa. This property has all been remolded and has a newer roof. All have private yards and is on septic. Current rents are at 850...

  • 6220481 MLS
547 W San Juan Avenue, Phoenix image
547 W San Juan Avenue, Phoenix $535,000

Location Location Location, very nice and updated duplex located in Central Phoenix. Both units are 2 bedroom 1 bathroom units approx. 938 sqft. Each unit has it own outs...

  • 6220406 MLS
2341 W Maricopa Street, Phoenix image
2341 W Maricopa Street, Phoenix $450,000

Lot zoned for R-5, which is the highest level of multi-family in Phoenix. This 4-plex features tile flooring throughout every unit.

  • 6220307 MLS
1319 E Purdue Avenue, Phoenix image
1319 E Purdue Avenue, Phoenix $599,000

ENERGY-STAR CERTIFIED **NEW DUPLEX**$236/sf on this quiet PHX Street you will not find a better 2 unit property from 9 foot ceilings to the elastomeric stucco-each unit i...

  • 6212081 MLS
3018 E Beck Lane, Phoenix image
3018 E Beck Lane, Phoenix $399,000

New roof, new ac unit, new block wall surrounding building.one unit recently renovated and rented for 950 other two units are rented for 750 andtheir leases expire in Jun...

  • 6219933 MLS
2347 W Coolidge Street, Phoenix image
2347 W Coolidge Street, Phoenix $1,040,000

Obtain a 6 unit property that has been redone. Large Storage rooms for additional Income along w/Owner Owned Coin-Op Laundry. The ample parking lot has been recoated w/ne...

  • 6219809 MLS
6750 E Dallas Street, Mesa image
6750 E Dallas Street, Mesa $640,000

Fully occupied, Mesa 4-plex with nice mix of 1 and 2 bedroom units. Building is single-story, block construction and each unit comes with one covered parking space, wash...

  • 6219696 MLS

All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

Like or Share
Loading likes...

Address Search

Phoenix Multifamily Homes

  • Duplex
  • Triplex
  • Fourplex
  • 2-4 Units
  • 5+ Units
  • Land

Chandler Multifamily Homes

  • Duplex
  • Fourplex
  • 2-4 Units
  • 5+ Units
  • Land

Scottsdale Multifamily Homes

  • Duplex
  • Triplex
  • Fourplex
  • 2-4 Units
  • 5+ Units
  • Land

Mesa Multifamily Homes

  • 2-4 Units
  • 5+ Units
  • Land
  • Duplex
  • Triplex
  • Fourplex

Tempe Multifamily Homes

  • 2-4 Units
  • 5+ Units
  • Land

Financing Option

  • Seller May Carry
  • FHA
  • VA
  • Conventional

Interactive Map Search

Interactive Map Search image

Buying & Selling Made Easy

 width= Freshest Data Available
 width= Active Listings Only
 width= Customizable Search Options
 width= New Listing Alerts
 width= Instant MULTIfamily Value Assessments

 

  • Home
  • Advanced Search
  • Buying
  • Featured Properties
  • Selling
  • What's My MULTIfamily Worth?
  • Recently Sold Listings
  • Market Reports
  • Meet Patrick
  • Blog
  • Contact Me

Patrick O'Sullivan
3317 S Higley Rd Ste 114-337
Gilbert, AZ 85297

Office: (602) 842-5050
Email: Inquiry@GetMULTIfamily.com

© 2020 All Rights Reserved | Privacy Policy

 

Advanced Searches

  • MLS # Search
  • Foreclosure Search
  • Zip Search
  • Sold Search
  • Address Search
IDX Real Estate Websites by
• Accessibility