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    2600 State Ave Phoenix, AZ 85051

    Sponsored
    For Sale
    $2,250,000

    Six-unit apartment building, new construction

    Property size:
    6,120 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a brand-new, six-unit apartment building in Phoenix, Arizona. Completed in September 2024, this Class B multifamily property boasts a total of 6,120 square feet of net rentable space, spread across three separate buildings. Each building houses two units and sits on its own parcel, offering the potential for future subdivision into three distinct ownership parcels. The property is zoned R-3. All six units feature three bedrooms and two bathrooms, each approximately 2,040 square feet. High-quality finishes include inside laundry, stainless steel appliances, and quartz countertops. The asking price is $2,250,000, translating to $367.65 per square foot and $375,000 per unit. Each unit comes with two parking spaces. This owner-user investment is ideal for those seeking immediate rental income or a diversified portfolio. The property's new construction status ensures minimal maintenance and long-term value appreciation. This is a turnkey opportunity ready for immediate occupancy.

    Property Features for 2600 State Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    6,120 SF
    Class
    B

    Building Details

    Year Built
    2024
    Buildings
    3
    Stories
    2
    Units
    6

    HighLights

    • Brand new construction, fully built‑out and ready for occupancy.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.11478434947
    Latitude
    33.544632179399

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    FAQs

    What type of property is this?
    Multifamily property - Six-unit apartment building, new construction
    Where is this multifamily property located?
    The property is located at 2600 State Ave Phoenix, AZ.
    What is the asking price?
    The asking price for this property is $2,250,000.
    What are key features of this property?
    This property features: Brand new construction, fully built-out and ready for occupancy.; ;
    Request Owner's contact information
    2600 State Ave Phoenix, AZ 85051
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2600 State Ave Phoenix, AZ 85051
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