For Sale
$735,000

2839 Le Marche Ave Phoenix, AZ 85032

Value-add multifamily investment opportunity.

Property Records

Overview

Added:
Dec 11, 2024
Days on market:
138
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

FAQs

What type of property is this?
Apartment building - Value-add multifamily investment opportunity.
Where is the apartment building located?
The property is located at 2839 Le Marche Ave Phoenix, AZ.
What is the asking price?
The asking price for this property is $735,000.
What are key features of this property?
This property features: $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.
How can I contact the broker?
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2839 Le Marche Ave
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