3219 Earll Dr Phoenix, AZ 85018

Property Details for 3219 Earll Dr

Year built

1968

Lot size

0.35 lot acres

Property size

7,724 SF

Property type

Commercial real estate

APN

127-31-010

Description

This exceptional 10-unit apartment building, situated on a 0.35-acre lot in Phoenix, Arizona's Arcadia Lite submarket, presents a compelling investment opportunity. Built in 1968 and boasting 7,724 square feet of net rentable space, the property features a mix of two-bedroom units, each averaging 772 square feet. Recent renovations include updated exteriors with fresh paint and landscaping, plus private patios for first-floor units. Interior upgrades are comprehensive, encompassing new stainless steel appliances, granite countertops, cabinets, flooring, fixtures, and hardware. Each unit includes an individual washer and dryer. The property offers 11 parking spaces and is conveniently located near major transportation arteries, including State Route 51, providing easy access to employment centers like the Midtown and Biltmore corridors. The asking price is $2,300,000, representing a price per unit of $230,000 and a price per square foot of $297.77. The property's current NOI is $110,024, with a pro-forma NOI of $127,556. The property is zoned R-4. This well-maintained property offers a strong return on investment with significant upside potential in a thriving Phoenix neighborhood. The property's address is 3219 E Earll Dr, Phoenix, AZ 85018, and its APN is 127-31-010. There is no ground lease.