2431 Tracy Ln Phoenix, AZ 85032

This Phoenix, AZ multifamily investment offers a 2-story, 952 sq ft condo with a tenant paying $2,050/month. Built in 1981, this Class C property boasts a 6.47% cap rate and a strong NOI of $19,088. Recent upgrades (2019) include a new front door, security door, stainless steel appliances, recessed lighting, cordless blinds, two-tone paint, modern cabinetry, and dual-flow toilets. The unit features tiled floors, ceiling fans, inside laundry, a walk-in closet, and a private patio with storage. The property includes two parking spaces and is located in the desirable Spanish Hills community, near top-rated schools, shopping (Valle Luna, Costco, Desert Ridge), and outdoor recreation (Lookout Mountain Trailhead). Water, sewer, and trash are included in the rent. The lot size is 518 sq ft, and the property is zoned R-3 Multiple Family Residence. This is a fee-simple ownership opportunity with immediate rental income. Buyer to verify all information.