2839 Le Marche AvePhoenix, AZ 85032

Property Details for 2839 Le Marche Ave

Year built

1982

Property size (Sq ft)

3,618 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

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.

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.6327

Longitude

-112.02

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