1519 Desert Cove Ave Phoenix, AZ 85029

Property Details for 1519 Desert Cove Ave

Year built

1970

Lot size

0.16 lot acres

Property type

Commercial real estate

Description

This exceptional investment opportunity presents a three-unit multifamily property located at 1519 W Desert Cove Avenue, Phoenix, AZ. Situated on a 0.16-acre lot within the desirable Sunnyslope submarket, this property offers significant upside potential. The complex currently boasts three fully occupied units generating substantial rental income. One unit is a two-bedroom, one-bathroom apartment renting for $1,171 per month, while the other two units are one-bedroom, one-bathroom apartments renting for $1,136 and $1,146 per month respectively. All tenants are on month-to-month leases, providing flexibility for future management. The property benefits from individually metered electric and gas for each unit, simplifying utility management. A fixed monthly water and sewer charge of $71 per unit is included. This property's strategic location directly across from an 88-unit affordable housing project developed by Commonwealth Development adds to its appeal and potential for long-term growth. The asking price for this value-add investment is $450,000. This presents a compelling opportunity for investors seeking strong cash flow and future appreciation in a thriving Phoenix neighborhood.