Nine-Unit Multifamily Complex with R-3
For Sale
$1,699,000
5035 N 23RD Avenue, Phoenix, AZ 85015
MULTI_FAMILY - Phoenix, AZ
Property SizeContact for details
Lot Size0.57 Acres
Days on Market173
Property Features for 5035 N 23RD Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3
Bedrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 3, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 1
Parking features
Assigned, Off Street
Exterior features
Sidewalk(s)
Appliances
Free-Standing Range, Dishwasher, Refrigerator, Microwave
Subdivision
CAMELBACK GARDENS
High school
Central High School
Elementary school district
Alhambra Elementary District
Middle school district
Phoenix Union High School District
High school district
Phoenix Union High School District
Directions
East of the I-17 and north of Camelback Rd.
Standard status
Active
APN
153-25-053
Lot size
0.57 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CAMELBACK GARDENS MCR 29/37 LOT 4 BLK 3 & W2 OF ABAND ALLEY LY E OF & ADJ TO E LN SD LOT AS ABAND P
Tax Annual Amount
6272
Legal Description
CAMELBACK GARDENS MCR 29/37 LOT 4 BLK 3 & W2 OF ABAND ALLEY LY E OF & ADJ TO E LN SD LOT AS ABAND P
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Heat Pump (Heating), Natural Gas
Cooling system
Electric, Heat Pump
Building Details
Year built
1958
Number of units
9
Flooring type
Vinyl, Wood, Concrete, Laminate, Tile - Ceramic
Building materials
Wood Frame, Painted, Stucco, Block
Roof type
Rolled Hot Mop, Composition
Listing Agency:
Better Homes & Gardens Real Estate SJ Fowler · Real Living
(480) 649-3536
Listed By:
James C Stephens · License #BR650365000
(602) 672-3526
Added: Mar 2
Changed: Aug 2
Last Checked: Aug 22 at 4:06AM
MLS# 6993194
Copyright © 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Fully upgraded and fully stabilized nine-unit multifamily complex in Phoenix, spread across seven buildings. The property is situated on a close to 25,000-SF lot with R-3 zoning and includes a unit mix of (2) two-bedroom units, (4) one-bedroom units, and (3) larger studio units. Construction materials include wood frame, stucco, and block, with electric and heat pump heating and cooling plus natural gas available, and public sewer service. Parking is assigned and off-street.
The complex is described as a “nice pocket” north of Camelback Road, about 1 mile east of GCU and about 1/2 mile east of I-17. It is also noted as Opportunity Zone.
For operating performance, the property is reported at 7.2 cap based on the 2025 P&L with 100% occupancy. Seller financing is mentioned as available but not required: 6% interest-only with 30% down in a first position only.
The complex is described as a “nice pocket” north of Camelback Road, about 1 mile east of GCU and about 1/2 mile east of I-17. It is also noted as Opportunity Zone.
For operating performance, the property is reported at 7.2 cap based on the 2025 P&L with 100% occupancy. Seller financing is mentioned as available but not required: 6% interest-only with 30% down in a first position only.
Key Highlights
- Nine units across seven buildings
- R‑3 zoning on a close to 25,000‑SF lot
- Unit mix: (2) two‑bedroom, (4) one‑bedroom, (3) studio
Property Analytics
Property Profile
Current Use
Lease Details
9
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,200
Businesses Nearby
Explore this area
Business Placement
Demographics for 85015, AZ
41,436
Population
17,889
Households
2.3
Avg Household Size
33
Median Age
25%
College-Educated
78%
High-School Grad
4.9 sq mi
ZIP Area
8,456
Density / Sq Mi
$52,585
Median Household Income
$36,456
Median Earnings
$1,227
Median Rent
$312,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully upgraded nine-unit complex in Phoenix zoned R-3 with seven buildings across a close to 25,000-SF lot.
Where is this apartment building located?
The property is located at 5035 N 23RD Avenue Phoenix, AZ.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Nine units across seven buildings; R‑3 zoning on a close to 25,000‑SF lot; Unit mix: (2) two‑bedroom, (4) one‑bedroom, (3) studio
