For Sale
$750,000

7162 57Th AveGlendale, AZ 85301

Prime Glendale Triplex, Fully Occupied

Overview

Added:
Dec 11, 2024
Days on market:
117
Exceptional investment opportunity: This fully occupied, renovated triplex in Glendale, Arizona's historic Catlin Court district offers a compelling return. The 2,495 square foot building, constructed in 1954 and extensively renovated in 2024, boasts three units, each with updated kitchens and bathrooms. Recent improvements include new copper plumbing, upgraded electrical systems, and handicapped-accessible bathrooms and entrances. The property features new interior paint and irrigation sprinklers. The roof is in good condition. Situated on a 7,000 square foot lot (APN 147-25-132), this property benefits from an R3-5 zoning designation. The building's strong financial performance is reflected in its 100% occupancy rate, generating a Net Operating Income (NOI) of $36,294 and a 4.84% cap rate. The asking price is $750,000 ($250,000 per unit), representing a price per square foot of $300.60. The property's location within the walkable Catlin Court shopping district, near the Westgate entertainment complex, Cardinal Stadium, concert venues, and a new casino, enhances its appeal. A planned nearby condo development further strengthens the area's urban walkable environment. Originally zoned for "live-work," the property's current residential configuration provides a stable and attractive investment.

Highlights

  • Renovated triplex.
  • Downtown Glendale location in the historic Catlin Court District.
  • Excellent investment opportunity.
  • Zoned for live-work use.
  • Convenient to shopping.
  • Features copper plumbing.

Property Details for 7162 57Th Ave

Property type
Apartment buildings
Square Feet
2,495 SF
Year Built/Renovated
1954/2024
Buildings
1
Stories
1
Units
3

Location Insight

City
Glendale
County
Maricopa
State
Arizona
Latitude
33.542042
Longitude
-112.181568
7162 57Th Ave, Glendale, Arizona

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7162 57Th Ave
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