2017 17Th StPhoenix, AZ 85006

Property Details for 2017 17Th St

Year built

1964

Lot size

0.65 AC

Property type

Investment properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a nine-unit multifamily property located at 2017 N 17th St, Phoenix, AZ 85006. The property, situated on approximately 0.65 acres, comprises five buildings, each single-story, and offers a total of 16 parking spaces. Built in 1964, with renovations completed three years ago, this portfolio boasts a 4.16% cap rate and is currently 100% occupied, generating a net operating income (NOI) of $103,951. The property consists of two parcels (APN: 117-15-097 & APN: 117-15-100-B) and features a mix of unit sizes: one two-bedroom/two-bathroom unit, three two-bedroom/one-bathroom units, and five one-bedroom/one-bathroom units. Seven units have updated kitchens, bathrooms, and flooring. Six of the air conditioning units are less than five years old, and the water heaters are also relatively new (one is new, others less than four years old). The longest-tenured tenant has resided on the property for over two decades, indicating a stable tenant base. The property is zoned M-M (Multi Family Medium Density), offering potential for future value appreciation. This is a turnkey investment with strong cash flow and significant upside potential. The asking price is $2,500,000.

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.4702

Longitude

-112.046

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