Ashley Pickens
REALTOR®, Associate Broker
BEDS0
BATHS
MLS#6990042
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
SUBDIVISIONEL MOLINO PLACE
SCHOOLPhoenix Union High School District
Property Description
9 unit multifamily investment opportunity in Phoenix, AZ. Built in 1946, the property spans two contiguous parcels (2916 and 2920 E. Monroe Street) and features a diverse mix mix: (3) studios, (3) one-bedrooms, (2) two-bedrooms, and (1) large three-bedroom unit over 1,000 SF. The asset offers a cap rate of 7.79% on current financials resulting in stable cash flow with upside potential. Current ownership has already completed a full sewer line replacement, mitigating a major capital expense. Strategically located, the property provides convenient access to Downtown Phoenix, Phoenix Sky Harbor International Airport, and major transportation corridors (Loop 202 and I-10), ensuring strong long-term tenant demand and investment stability.
Property Features
Property Type: Multi Unit - Multiple
Cooling: Central Air, Varies by Unit, See Remarks
Heating: Electric, Heat Pump, Varies by Unit, See Remarks
Roof Type: Composition, Other, Rolled/Hot Mop
Taxes: $1,557
Year Built: 1944
Feature Descriptions
Community Features: No Pool
Days on Site: 40
Exterior: Wood Frame, Other, Painted, Stucco
Flooring: Ceramic Tile, Other
Parking: Other, On Street, >1 Space Per Unit
Water: City Franchise
Local Schools
Middle School: Wilson Elementary School
School District: Phoenix Union High School District
Listed By / Shown By
Listed By
Agency Name: Matthews Real Estate Investment Services
Agency Phone: 310-388-0788
Shown By
Agent Name: Ashley Pickens
Agent Phone: (480) 948-4711
Agency Title: Arizona Best Real Estate
Estimate Your Payment
Estimated Payment
$ 2,747.67 per month $2,314.59 Principal & Interest $129.75 Property Tax $303.33 Homeowner's InsuranceChange Payment Information
Ashley Pickens
Office: (480) 948-4711
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2916 E Monroe Street | MLS# 6990042
This multi-family property located at 2916 E Monroe Street, Phoenix, AZ 85034 is currently listed for sale with an asking price of $1,040,000. E Monroe Street is located within the Phoenix Union High School District school district. Search Phoenix real estate on ashley.arizonabest.com today.