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$1,040,000

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2916 E MONROE Street Phoenix, AZ 85034

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Tanya Hoffman

tanya@retsy.com +1(480) 710-6955

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Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Subdivision El Molino Place

MLS Listing ID 6990042

Maintenance Fees $6,313

Year Built 1944

Annual Tax Amount $1,557

Tax Year 2025

Lot Dimensions 100 ft x 150 ft

Source Arizona Regional Multiple Listing Service (ARMLS)

Property Description

9 unit multifamily investment opportunity in Phoenix, AZ. Built in 1946, the property spans two contiguous parcels (2916 and 2920 E. Monroe Street) and features a diverse mix mix: (3) studios, (3) one-bedrooms, (2) two-bedrooms, and (1) large three-bedroom unit over 1,000 SF. The asset offers a cap rate of 7.79% on current financials resulting in stable cash flow with upside potential. Current ownership has already completed a full sewer line replacement, mitigating a major capital expense. Strategically located, the property provides convenient access to Downtown Phoenix, Phoenix Sky Harbor International Airport, and major transportation corridors (Loop 202 and I-10), ensuring strong long-term tenant demand and investment stability.

Location

State AZ

County Maricopa

Community El Molino Place

Area Maricopa

Zoning R-5

Interior

Heating See Remarks, Individual, Heat Pump, Electric

Cooling Central Air, See Remarks, Individual

Flooring Ceramic Tile

Appliance Built-In Range, Free-Standing Range, Other, Refrigerator, Microwave

Exterior

Parking Features Other, >1 Space Per Unit, On Street

Community Features No Pool

Roof Type Other,Composition,Rolled/Hot Mop

Private Pool No

Building

Sewer Public Sewer

Water City Franchise

New Construction No

Schools

Middle Schools Wilson Elementary School

School District Phoenix Union High School District

Others

Senior Community No

Tax ID 121-65-018

Acceptable Financing CTL, Conventional

Disclosures Other (See Remarks), None

Listing Terms CTL, Conventional

Listed by Matthews Real Estate Investment Services • Bradley Skenderian

2916 E MONROE Street Phoenix, AZ 85034

Tanya Hoffman

Key Details

Location

Interior

Exterior

Building

Schools

Others

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2916 E MONROE Street