717-733 Marlette Ave Phoenix, AZ 85014

Property Details for 717-733 Marlette Ave

Year built

1952

Property size

8,658 SF

Property type

Apartment buildings

Description

This exceptional eight-unit apartment building, located at 717-733 E Marlette in Phoenix, Arizona, presents a compelling value-add investment opportunity. The property boasts 8,658 square feet on a sizable 40,325 square foot lot, and is situated in a prime location within Maricopa County, zip code 85014. Built in 1952, the building is zoned R-4, offering significant flexibility for potential development and redevelopment. The current asking price is $2,950,000, representing a 3.01% cap rate. This multifamily property offers investors a strong foundation for a lucrative venture, with the potential for increased returns through strategic improvements and repositioning. The spacious layout and versatile zoning provide a range of potential uses, making it an attractive option for those seeking a strategic investment in the thriving Phoenix market. This property is ideal for investors seeking a blend of size, zoning flexibility, and significant upside potential in a desirable location. The property's location offers easy access to various amenities and transportation options within the Phoenix metropolitan area. This is a rare opportunity to acquire a well-positioned multifamily asset with substantial growth potential.

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Longitude

-112.064

Latitude

33.5289