2223 E Roosevelt Street, Phoenix, AZ 85006
- $700,000
- 7
- BD
- 6
- BA
- List Price
- $700,000
- Status
- ACTIVE
- Price Change
- ▼ $228,640 1781915293
- Days on Market
- 96
- MLS#
- 7038723
- City
- Phoenix
- Bedrooms
- 7
- Bathrooms
- 6
- Year Built
- 1952
Property Description
Welcome to Three at Bumbalow - A Rare Triplex Investment in the Heart of Central Phoenix! Three at Bumbalow presents a unique opportunity to own a recently upgraded triplex in one of Phoenix's most sought-after and rapidly developing neighborhoods. Ideally located near downtown, major freeways, and light rail access, this property is perfect for investors seeking strong rental income or owner-occupants looking to live in one unit while renting out the others. This well-maintained property was renovated in 2023 and features three individual units: Two units with 2 bedrooms and 1 bathroom each, and One larger unit with 3 bedrooms and 2 bathrooms. Each unit has its own private entrance and offers a functional floor plan designed for comfortable living. A nice side yard adds outdoor space and potential for further enhancements, such as communal gathering areas or added amenities. Each unit is equipped with washer and dryer hookups. All the washers, dryers, and refrigerators are included in the sale and convey. The property is currently self-managed, which keeps operating costs low. This triplex is perfect for both seasoned investors and first-time multifamily buyers looking to enter the market with a well-located, income-producing asset. The units are currently rented at $2,863, $1,550, and $1,985 per month, respectively. Whether you're looking to expand your real estate portfolio, complete a 1031 exchange, or live in one unit while earning passive income from the others, Three at Bumbalow offers flexibility, stability, and upside in a prime Central Phoenix location.
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Additional Information
- Taxes
- $923
- Net Operating Income
- $69,062
- Cap Rate
- 9.87
- Units
- 3
- Flooring
- Ceramic Tile, Other
- Parking Features
- Open
- Construction
- Block, Painted, Stucco
- Roofing
- Composition
- Cooling
- Electric, Ceiling Fan(s)
- Heating
- Electric
- Zoning
- R-5
- Exterior Features
- Sidewalk(s)
- Subdivision
- Bumbalow Heights Blk 1
- Community Features
- No Pool
- Electric
- SRP
- Water
- City Franchise, See Remarks
- Tenant Pays
- Electricity, Gas
- New Financing
- Conventional, 1031 Exchange, Cash
- Elementary School
- Excelencia School
- Middle School
- Excelencia School
- High School
- North High School
Courtesy of West USA Realty. 602-942-4200
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