For Sale
$662,500

2240 Southern AvePhoenix, AZ 85041

Four-plex, 100% occupied, high ROI.

Overview

Added:
Dec 11, 2024
Days on market:
116
This Phoenix, Arizona multifamily investment property, located at 2240 W Southern Ave, 85041, presents a compelling opportunity. The property consists of a single, one-story, 1985-built building encompassing 8,907 square feet on an 8,907 square foot lot. The building is zoned R-3 and features four units: two 2-bedroom units, one 1-bedroom unit, and one 3-bedroom unit. All units boast open floor plans with spacious bedrooms, contributing to the property's 100% occupancy rate. The property offers four parking spaces and is currently generating a Net Operating Income (NOI) of $59,400, resulting in an attractive 8.97% capitalization rate. The asking price is $662,500, translating to $165,625 per unit and $74.38 per square foot. This stabilized investment, held under fee simple ownership, presents a strong cash flow potential for the discerning investor. The property's location in Maricopa County, Arizona, offers convenient access to local amenities and transportation. The property's strong performance and attractive financial metrics make it an ideal addition to any investment portfolio. The APN is 105-75-344-A.

Highlights

  • $662,500 asking price for a stabilized multifamily investment property.
  • Four-unit apartment building with 100% occupancy and a strong 8.97% cap rate.
  • 8,907 square feet on an 8,907 square foot lot, priced at $74.38 per square foot.
  • $59,400 Net Operating Income (NOI) generating a $165,625 price per unit.
  • Located at 2240 W Southern Ave, Phoenix, AZ 85041, in Maricopa County.
  • Features four parking spaces and is zoned R-3.

Property Details for 2240 Southern Ave

Property type
Apartment buildings
Square Feet
8,907 SF
Class
C
Year Built
1985
Buildings
1
Stories
1
Units
4

Location Insight

City
Phoenix
County
Maricopa
State
Arizona
Latitude
33.3926875
Longitude
-112.1061805
2240 Southern Ave, Phoenix, Arizona

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
2240 Southern Ave
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message