3611 N 5th Avenue, Phoenix, AZ 85013
- $3,400,000
- 36
- BD
- 288
- BA
- List Price
- $3,400,000
- Status
- ACTIVE
- Days on Market
- 114
- MLS#
- 7030825
- City
- Phoenix
- Bedrooms
- 36
- Bathrooms
- 288
- Year Built
- 1961
Property Description
Melrose on 5th is a 12-unit multifamily community located in the highly sought after Melrose District. Originally built in 1961, the asset went through extensive repositioning in 2016 and features a rare mix of (12) 3-bedroom, 2-bathroom floor plans measuring approximately 1,200 square feet each. Unit interiors are all upgraded and feature washer/dryers, fully equipped kitchens with dishwashers and built-in microwaves, stainless steel appliances, faux vinyl wood flooring, and modernized bathrooms. Exterior amenities include gated access entry ways, charcoal barbeque grills, resort-style swimming pool, covered parking, and low maintenance desert landscaping. Great opportunity opportunity to acquire a well-maintained, renovated asset within one of Phoenix's strongest urban infill corridors.
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Additional Information
- Taxes
- $8,433
- Net Operating Income
- $178,903
- Cap Rate
- 5.26
- Units
- 12
- Parking Features
- <1 Space Per Unit
- Construction
- Block
- Roofing
- Built-Up
- Cooling
- Electric, Varies by Unit
- Heating
- Electric, Varies by Unit
- Zoning
- R-4
- Subdivision
- Park North
- Community Features
- Pool, Barbecue
- Electric
- Individual Meter
- Water
- Master Meter
- Tenant Pays
- Electricity
- New Financing
- Conventional, 1031 Exchange, Cash
Courtesy of Matthews Real Estate Investment Services. 310-388-0788
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