Updated Five-Unit Apartment
For Sale
$599,000
2440 East Monroe Street, Phoenix, AZ 85034
R4-zoned property with renovated interiors, upgraded systems, and laundry facilities in four units.
Property SizeContact for details
Days on Market367
Property Features for 2440 East Monroe Street
General Information
Standard status
Active
Property subtype
Multiple Dwellings
Zoning
R4
Net Operating Income
$67,058
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$2,144
Amenities
laundry
tankless hot water heaters
Central Air, 2 or More Units
Electric
Ceramic Tile, Vinyl
Yes
0.0
Composition
No Pool
2
5
Vinyl Siding, Wood Frame, Painted, Block
Building Details
Year Built
1940
Listing Agency:
Open House Realty
Listed By:
Emily Weaver · License #SA668881000
(623) 204-5454
Source:
Compass
Added: Sep 2, 2025
Changed: Aug 31
Last Checked: Aug 29 at 11:44PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Open House Realty
Investment Insights
Based on property information with market context.
This five-unit apartment property, built in 1940, has received substantial physical improvements. The exterior was recently painted, the roofs are new, and four new A/C units have been installed. Every unit includes a tankless water heater, while interior work completed during vacancies includes ceramic tile flooring, tiled showers, backsplashes, and fresh interior paint.
Laundry facilities are present in four of the five units. Electric service is individually metered, and the property is zoned R4. The site is within walking distance of light rail and is located near the airport and downtown Phoenix.
Laundry facilities are present in four of the five units. Electric service is individually metered, and the property is zoned R4. The site is within walking distance of light rail and is located near the airport and downtown Phoenix.
Key Highlights
- Five‑unit apartment property built in 1940
- New roofs and recently painted exterior
- Four new A/C units installed
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,361
Businesses Nearby
Explore this area
Business Placement
Demographics for 85034, AZ
5,033
Population
2,901
Households
1.7
Avg Household Size
32
Median Age
32%
College-Educated
81%
High-School Grad
11.6 sq mi
ZIP Area
434
Density / Sq Mi
$53,545
Median Household Income
$43,236
Median Earnings
$1,205
Median Rent
$397,400
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 - R4-zoned property with renovated interiors, upgraded systems, and laundry facilities in four units.
Where is this apartment building located?
The property is located at 2440 East Monroe Street Phoenix, AZ.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Five‑unit apartment property built in 1940; New roofs and recently painted exterior; Four new A/C units installed
