2719 W Maryland Avenue, Phoenix, AZ 85017
- $1,325,000
- 10
- BD
- 8
- BA
- List Price
- $1,325,000
- Status
- ACTIVE
- Price Change
- ▼ $60,000 1788471196
- Days on Market
- 86
- MLS#
- 7043158
- City
- Phoenix
- Bedrooms
- 10
- Bathrooms
- 8
- Year Built
- 1971
Property Description
Extensively renovated 8-unit multifamily community located along the I-17 corridor in Central Phoenix. Originally constructed in 1958, the property recently underwent a comprehensive renovation program totaling more than $400,000 in capital improvements. Upgrades include replacement of all plumbing and the main sewer line, new electrical systems, a new roof, repaved asphalt, and fully renovated unit interiors, providing investors with a truly turnkey asset requiring minimal ongoing maintenance or near-term capital expenditures. The property features an attractive mix of studio, one-bedroom, and two-bedroom floorplans currently generating nearly $10,600 in gross monthly rental income, offering stable day-one cash flow with strong long-term upside. 7.82% cap rate on current financials.
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Additional Information
- Taxes
- $2,493
- Net Operating Income
- $108,345
- Cap Rate
- 7.82
- Units
- 8
- Parking Features
- 1 Space/Unit, Paved
- Construction
- Block, Wood Frame, Painted
- Roofing
- Built-Up
- Cooling
- Electric, Varies by Unit
- Heating
- Electric, See Remarks
- Zoning
- R-3
- Subdivision
- Ambassador Hts 9-14
- Community Features
- No Pool
- Electric
- SRP
- Water
- City Franchise
- Tenant Pays
- Electricity, Cable TV
- New Financing
- Cash to Loan, Conventional, 1031 Exchange, Other (See Remarks), Cash
Courtesy of Matthews Real Estate Investment Services. 310-388-0788
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