For Sale
$735,000

2839 Le Marche AvePhoenix, AZ 85032

Value-add multifamily investment opportunity.

Overview

Added:
Dec 11, 2024
Days on market:
116
This 4-unit apartment building in Phoenix, Arizona, presents a compelling value-add investment opportunity. Located at 2839 E Le Marche Ave, 85032, this 1982-constructed, two-story building offers 3,618 square feet of net rentable space on a 6,371 square foot lot (APN 214-39-043). The property features four spacious two-bedroom, two-bathroom units, each equipped with a full-size washer and dryer. Tenants enjoy individually metered electric and cable, while the HOA covers water, sewer, trash, common area maintenance, and pool access. Recent improvements include a fresh coat of paint on the building's exterior and interior walls, and the HOA has recently installed submeters for water and sewer billing, directly benefiting tenants. The property boasts four covered parking spaces per building, plus additional uncovered parking. This Class C multifamily property is zoned for multi-family use and offers a strong cap rate of 6.28% and a price per unit of $183,750. The asking price is $735,000, representing $203.15 per square foot. Significant income potential exists through interior unit refreshes. This property is ideal for a 1031 exchange.

Highlights

  • $735,000 asking price for a four-unit apartment building.
  • Multifamily property, Class C, with 3,618 square feet.
  • 6.28% cap rate and $203.15 per square foot.
  • Four units, all two-bedroom, two-bathroom apartments.
  • Built in 1982, renovated in 2012, located on a 6,371 square foot lot in Phoenix, AZ.

Property Details for 2839 Le Marche Ave

Property type
Apartment buildings
Square Feet
3,618 SF
Class
C
Year Built/Renovated
1982/2012
Buildings
1
Stories
2
Units
4

Location Insight

City
Phoenix
County
Maricopa
State
Arizona
Latitude
33.632687946293
Longitude
-112.01989766766
2839 Le Marche Ave, Phoenix, Arizona

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2839 Le Marche Ave
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