3805 Monterey WayPhoenix, AZ 85018

This exceptional 15-unit apartment building, completed in 2024, presents a compelling investment opportunity in Phoenix's desirable Arcadia Corridor. The property boasts seven buildings, each two stories high, encompassing a total of 27,350 net rentable square feet on a 0.96-acre lot. The meticulously designed units, averaging 1,825 square feet, feature three bedrooms and two-and-a-half bathrooms each. High-end finishes include quartz countertops, LG stainless steel appliances, custom cabinetry, and 10-foot ceilings. The property's strong performance is reflected in its $9,600,000 asking price, a $640,000 per-unit cost, a 5.38% cap rate, and a net operating income (NOI) of $516,426. The R-3 zoning allows for flexibility, and the property's location provides convenient access to premier dining, entertainment, and educational institutions. Seller financing is available, making this an attractive opportunity for investors seeking a stabilized, Class A multifamily asset in a prime Phoenix location. The property is situated at 3805 E Monterey Wy, Phoenix, AZ 85018.