901 Claremont StPhoenix, AZ 85014

Property Details for 901 Claremont St

Year built

1962

Lot size

0.39 AC

Property type

Apartment buildings

Description

This exceptional 7-unit apartment building presents a compelling investment opportunity in Phoenix's desirable Uptown submarket. Located at 901 E Claremont St, this property boasts a prime location just north of the 7th Street and Bethany Home Road intersection, directly across from Madison Traditional Academy. Built in 1962, the property comprises three buildings on a 0.39-acre lot, featuring a mix of unit types including a studio, five two-bedroom townhomes, and a four-bedroom house. The total net rentable square footage is 7,365 square feet. The property benefits from its proximity to major transportation arteries, including State Route 51, providing easy access to employment centers like the Innovation and Biltmore corridors, home to numerous prominent companies. The current NOI is $105,793, with a pro-forma NOI of $121,494, resulting in a current cap rate of 6.49% and a pro-forma cap rate of 7.45%. The asking price is $1,630,000. The property is zoned R-3 and offers significant upside potential through value-add renovations. The exterior of the entire community has been upgraded, and each unit presents an opportunity for further upgrades, potentially increasing rental income by approximately $300 per month based on comparable submarket properties. This is a rare chance to acquire a well-located multifamily asset with strong potential for future growth. The property's APN is 161-15-068H.

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.5281

Longitude

-112.062

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].