2019 Turney AvePhoenix, AZ 85015

This Phoenix, Arizona multifamily investment property presents a compelling value-add opportunity. The 4-unit apartment building, constructed in 1957 and extensively renovated between 2021 and 2022, boasts 2,346 square feet of net rentable space situated on a 12,364 square foot lot. Currently operating at 100% occupancy, the property offers a pro-forma NOI of $43,503 and a pro-forma cap rate of 5.88%. Each of the four units features a private patio, a highly desirable amenity. The property includes six parking spaces and benefits from solar-powered carports and rooftop solar hot water systems, contributing to lower utility costs for tenants. The R-3 zoning permits a variety of uses. The asking price is $740,000, translating to $185,000 per unit and $315.43 per square foot. Further income potential exists through the implementation of a RUBS (renters utility billing system). This fee-simple ownership offers a strong return on investment in a desirable Phoenix neighborhood. The property's address is 2019 W Turney Ave, Phoenix, AZ 85015, and the APN is 154-30-004-C. This is a rare opportunity to acquire a well-maintained, updated multifamily property with significant upside potential.