2610 24Th St Phoenix, AZ 85008
- Commercial real estate
- 2,194 SF
Current Use by Public Records
- Commercial real estate
Property Details for 2610 24Th St
- Year built
- 1937
- Property size
- 2,194 SF
- Property type
- Commercial real estate
- APN
- 117-08-112-C
Description
This meticulously renovated 1937 triplex in Phoenix, AZ (APN: 117-08-112-C) offers a compelling investment opportunity. The 2,194 square foot property, situated on a 7,598 square foot lot, features three units, each with four parking spaces. Completely remodeled in 2023, the property boasts quartz countertops, stainless steel appliances, and wood-grain tile flooring throughout. Amenities include a heated spa, putting green, miniature golf course, and fire pit. The property is currently 100% occupied under a master lease with a sobriety home, significantly reducing management responsibilities. The current lease agreement runs for three years, with a 5% annual rental increase built in. The annual net operating income (NOI) is $83,439, resulting in a 6.98% capitalization rate. The asking price is $1,195,000 ($544.67/sq ft and $398,333.33 per unit). The property is zoned R-5 for multiple-family residences and is eligible for residential financing. Property taxes are $546 annually, with the tenant responsible for all other expenses except property insurance. The sale includes the established website and trademarked name. All information should be independently verified by the buyer.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Phoenix
- County
- Maricopa
- State
- Arizona
- Longitude
- -112.0305205
- Latitude
- 33.4762055
