845 2Nd AvePhoenix, AZ 85003

Property Details for 845 2Nd Ave

Lot size

0.15 AC

Zone code

DTC-E-ROO

Property type

Other commercial real estate

APN

111-40-088

APU

11140088

Description

This exceptional 16-unit apartment building, located at 845 N 2nd Ave, Phoenix, AZ 85003, presents a compelling investment opportunity in the heart of Downtown Phoenix. Built in 1916, this two-story building boasts 13,696 square feet of net rentable space, offering a price per square foot of $346.82. The property sits on a 0.31-acre lot and is zoned R-3. Currently generating a Net Operating Income (NOI) of $250,290, with a pro-forma NOI of $259,528, this asset offers a strong return on investment. The asking price is $4,750,000, translating to $296,875 per unit. Benefiting from its prime location within the Innovation Corridor, the property enjoys proximity to major employers such as Banner Health, UnitedHealth Group, and Wells Fargo, as well as the Phoenix Bioscience Core and Arizona State University's Downtown Phoenix campus. Its central location provides easy walkability to Roosevelt Row, known for its vibrant arts and culture scene. This historic building offers a blend of renovated interiors and classic charm, making it an attractive option for residents seeking a downtown lifestyle. The property's APN is 111-40-090 | 111-40-088. There are no ground lease obligations. This is a rare opportunity to acquire a well-positioned multifamily asset in a rapidly growing urban core.

• Alternative Use

  Use

  Valuation

  Residential

  $1,676,540

  Hospitality

  $1,535,701

  Educational

  $1,277,686

  Medical

  $1,321,627

  Retail

  $1,987,511

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.4584

Longitude

-112.076

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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].