$1,650,000
$1,750,000
5.7%For more information regarding the value of a property, please contact us for a free consultation.
SOLD DATE : 04/29/2025
Key Details
Sold Price $1,650,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Capitol Addition
MLS Listing ID 6749136
Sold Date 04/29/25
Originating Board Arizona Regional Multiple Listing Service (ARMLS)
Year Built 1921
Annual Tax Amount $518
Tax Year 2023
Lot Dimensions 36400
Property Description
Unique W Downtown Phoenix area 16 unit complex. Under $110K/door & $224/sf! 9 of the 16 units have recently been upgraded w/ new roofs. Seller financing at 5.25% i/o with a 5 yr balloon at 45-50% LTV. 9+ CAP proforma.
New construction apartments across the street w/ many owner-occupants within a block. The complex consists of 16 units (all 1 bedroom/1 bathroom (488/sf /-). 7800 total +/-. Nine buildings on six contiguous lots (36,400 total sf +/-). Ample surface parking. Three duplex buildings line Adams St (6). Four duplexes line 21st Ave with one SF house (9). 2105 W Monroe is the 16th unit. All separate electric/gas that is tenant-paid. Four water meters. Zoned R-3. Long-term owner. Rents range from $1000-$1297.
Location
State AZ
County Maricopa
Community Capitol Addition
Zoning R-3
Direction Just east of the I-17; south of the I-10; and south of Van Buren St.
Interior
Heating Other, See Remarks, Individual, Heat Pump, Window/Wall Unit(s), Electric
Cooling Ceiling Fan(s), Other, See Remarks, Window/Wall Unit, Electric
Flooring Other, Ceramic Tile, Vinyl
Appliance Free-Standing Range, Other, Disposal, Refrigerator, Microwave
Exterior
Parking Features Other, Assigned, Add'l Parking Avail, >1 Space Per Unit, Carport
Community Features Other, See Remarks
Roof Type Composition
Total Parking Spaces 32
Building
Sewer Sewer-In & Connected, Public Sewer
Water Other, See Remarks, City Franchise
New Construction No
Schools
School District Phoenix Union High School District
Others
Senior Community No
Tax ID 109-32-095
Acceptable Financing Other (See Remarks), Conventional, Owner May Carry
Listing Terms Other (See Remarks), Conventional, Owner May Carry
Financing Conventional
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