$1,250,000
$1,275,000
2.0%For more information regarding the value of a property, please contact us for a free consultation.
SOLD DATE : 12/31/2025
Key Details
Sold Price $1,250,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Tierra Verde
MLS Listing ID 6924258
Sold Date 12/31/25
Maintenance Fees $4,000
Year Built 1950
Annual Tax Amount $1,167
Tax Year 2024
Lot Dimensions 148.02 x 123.03
Source Arizona Regional Multiple Listing Service (ARMLS)
Property Description
10-Unit Multifamily Investment Opportunity! This renovated and cash-flowing property is in a strong central Phoenix rental market, consisting of 8 one-bedroom/one-bath units and 2 studio units, all renovated around 2022-2023, modern finishes and several updated systems.
Each unit is separately metered for electricity, reducing ownership expenses and simplifying management. Very low property tax expense on this one ($1,167/yr).
This sale includes two parcels, with the north parcel at 921 S 35th Ave, offering a big space to work with—a rare opportunity for value-add expansion. The additional land provides space to build storage units, install vending machines, add a laundry facility, or develop additional income-producing amenities, significantly increasing future cash flow and property value.
The property is fully occupied with month-to-month leases.
Located near major employment corridors, transit routes, and downtown Phoenix, this property combines stable current income with long-term upside. Excellent turnkey investment with small development potential.
Location
State AZ
County Maricopa
Community Tierra Verde
Area Maricopa
Zoning [M-H] MULTI-FAM
Direction North on 35th Ave past Buckeye Rd. After Maricopa St property will be on your right.
Interior
Heating Central, Window/Wall Unit(s)
Cooling Central Air, Ceiling Fan(s), Window/Wall Unit
Flooring Vinyl
Appliance Free-Standing Range, Refrigerator, Microwave
Exterior
Parking Features Add'l Parking Avail, >1 Space Per Unit
Community Features No Pool
Roof Type Composition,Rolled/Hot Mop
Private Pool No
Building
Sewer Public Sewer
Water City Franchise
New Construction No
Schools
Elementary Schools Jack L Kuban Elementary School
Middle Schools William R Sullivan Elementary School
High Schools Carl Hayden High School
School District Phoenix Union High School District
Others
Senior Community No
Tax ID 109-58-050
Acceptable Financing Conventional, 1031 Exchange
Disclosures ALTA Survey Availbl
Listing Terms Conventional, 1031 Exchange
Financing Cash
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Bought with Barrett Real Estate
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