6536 Central Ave Phoenix, AZ 85012

This exceptional 9-unit apartment building, situated on a 0.62-acre lot in Phoenix, Arizona's desirable Uptown submarket, presents a compelling investment opportunity. The property, built in 1957, boasts a total of 6,210 square feet of net rentable space, with 20 parking spaces available for residents. The address is 6536 N Central Ave, Phoenix, AZ 85012, conveniently located near major transportation arteries like State Route 51, providing easy access to employment centers and entertainment options. The property is zoned R-3 and comprises three single-story buildings. Currently featuring a mix of one and two-bedroom floor plans averaging approximately 690 square feet, seven units offer significant potential for value enhancement through renovations, including updating appliances, countertops, cabinets, flooring, fixtures, and adding individual washer/dryer units. The property's strong financial performance is reflected in its current Net Operating Income (NOI) of $130,869, and an asking price of $2,400,000, translating to a price per square foot of $386.47 and a price per unit of $266,667. The property's proximity to major employers like Banner Health and IBM, along with the amenities of the Biltmore Employment Corridor, ensures strong tenant demand. This is a rare opportunity to acquire a well-located multifamily property with significant upside potential in a thriving Phoenix neighborhood. The property's APN is 161-27-030E.