2017 17Th St Phoenix, AZ 85006
- Residential income homes
- 0.65 lot acres
Current Use by Public Records
- Residential income homes
Property Details for 2017 17Th St
- Year built
- 1964
- Lot size
- 0.65 lot acres
- Property type
- Residential income homes
- APN
- 117-15-097
Description
This exceptional investment opportunity presents a nine-unit multifamily property located at 2017 N 17th St, Phoenix, AZ 85006. The property, situated on approximately 0.65 acres, comprises five buildings, each single-story, and offers a total of 16 parking spaces. Built in 1964, with renovations completed three years ago, this portfolio boasts a 4.16% cap rate and is currently 100% occupied, generating a net operating income (NOI) of $103,951. The property consists of two parcels (APN: 117-15-097 & APN: 117-15-100-B) and features a mix of unit sizes: one two-bedroom/two-bathroom unit, three two-bedroom/one-bathroom units, and five one-bedroom/one-bathroom units. Seven units have updated kitchens, bathrooms, and flooring. Six of the air conditioning units are less than five years old, and the water heaters are also relatively new (one is new, others less than four years old). The longest-tenured tenant has resided on the property for over two decades, indicating a stable tenant base. The property is zoned M-M (Multi Family Medium Density), offering potential for future value appreciation. This is a turnkey investment with strong cash flow and significant upside potential. The asking price is $2,500,000.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Phoenix
- County
- Maricopa
- State
- Arizona
- Longitude
- -112.04552034325
- Latitude
- 33.470156690549
