Phoenix Multifamily Investment
5035 N 23RD Avenue, Phoenix, AZ 85015
- Added:
- Mar 2, 2026
- Days on Market:
- 80
- Last Refresh:
- May 21 at 7:06 pm
Property Features for 5035 N 23RD Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R3
- Bedrooms
- 3
- Rooms
- Bedroom 2, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 3, Bathroom 1
- Parking features
- Assigned, Off Street
- Exterior features
- Sidewalk(s)
- Appliances
- Free-Standing Range, Dishwasher, Refrigerator, Microwave
- 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
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Electric (Heating), Heat Pump (Heating)
- Cooling system
- Heat Pump, Electric
Building Details
- Year built
- 1958
- Number of units
- 9
- Flooring type
- Laminate, Wood, Tile - Ceramic, Vinyl, Concrete
- Building materials
- Wood Frame, Painted, Stucco, Block
- Roof type
- Rolled Hot Mop, Composition
Listing agent James C Stephens (602) 672-3526
Listing office Better Homes & Gardens Real Estate SJ Fowler 6360 E Brown Rd. Suite 103, Mesa, AZ (480) 649-3536
Listing date Mar 2, 2026
MLS# 6993194
Listing URL
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.
HighLights
- 7.2 CAP rate based on 2025 P&L with 100% occupancy and $122,000 NOI.
- Seller financing available (6% interest‑only with 30% down).
- Fully upgraded and stabilized 9‑unit complex.
- Large lot (close to 25,000 sf) with R‑3 zoning offering density and additional value potential.
- Located in an Opportunity Zone.
- Convenient location: 1 mile east of GCU & 1/2 mile east of the I‑17.
Overview
This nine-unit multifamily complex is located in Uptown Phoenix, Arizona, situated on a lot of approximately 25,000 square feet with R-3 zoning. The property is positioned north of Camelback Road, approximately one mile east of Grand Canyon University and a half-mile east of Interstate 17, and is located in an Opportunity Zone. The complex consists of seven buildings with a unit mix of two two-bedroom units, four one-bedroom units, and three studio units. The property has been fully upgraded and stabilized, with over $250,000 in renovations completed in recent years. The zoning and lot size offer density and additional value potential. Seller financing is available but not required, with terms of 6% interest-only and 30% down in the first position. The projected net operating income for 2025 is $122,000, based on 100% occupancy, with a 7.2% capitalization rate.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Phoenix
- County
- Maricopa
- State
- Arizona
- Longitude
- -112.107835
- Latitude
- 33.510897
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Nine-unit complex in Uptown Phoenix with seller financing available.
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: 7.2 CAP rate based on 2025 P&L with 100% occupancy and $122,000 NOI.; Seller financing available (6% interest‑only with 30% down).; **Fully upgraded and stabilized 9‑unit complex.**
