2240 Southern AvePhoenix, AZ 85041

Property Details for 2240 Southern Ave

Year built

1985

Property size (Sq ft)

8,907 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This Phoenix, Arizona multifamily investment property, located at 2240 W Southern Ave, 85041, presents a compelling opportunity. The property consists of a single, one-story, 1985-built building encompassing 8,907 square feet on an 8,907 square foot lot. The building is zoned R-3 and features four units: two 2-bedroom units, one 1-bedroom unit, and one 3-bedroom unit. All units boast open floor plans with spacious bedrooms, contributing to the property's 100% occupancy rate. The property offers four parking spaces and is currently generating a Net Operating Income (NOI) of $59,400, resulting in an attractive 8.97% capitalization rate. The asking price is $662,500, translating to $165,625 per unit and $74.38 per square foot. This stabilized investment, held under fee simple ownership, presents a strong cash flow potential for the discerning investor. The property's location in Maricopa County, Arizona, offers convenient access to local amenities and transportation. The property's strong performance and attractive financial metrics make it an ideal addition to any investment portfolio. The APN is 105-75-344-A.

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.3927

Longitude

-112.106

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