Properties
Phoenix, AZ 85034 2916 E MONROE Street
$1,040,000
6 more
Presented By: Matthews Real Estate Investment Services; 310-388-0788
Home Details
9 unit multifamily investment opportunity in Phoenix, AZ. Built in 1946, the property spans two contiguous parcels (2916 and 2920 E. Monroe Street) and features a diverse mix mix: (3) studios, (3) one-bedrooms, (2) two-bedrooms, and (1) large three-bedroom unit over 1,000 SF. The asset offers a cap rate of 7.79% on current financials resulting in stable cash flow with upside potential. Current ownership has already completed a full sewer line replacement, mitigating a major capital expense. Strategically located, the property provides convenient access to Downtown Phoenix, Phoenix Sky Harbor International Airport, and major transportation corridors (Loop 202 and I-10), ensuring strong long-term tenant demand and investment stability.
Presented By: Matthews Real Estate Investment Services; 310-388-0788
Interior Features for 2916 E MONROE Street
Bathrooms
Total Baths
Other Interior Features
Air Conditioning Y/NYes
FlooringOther, Ceramic Tile
Heating Y/NYes
General for 2916 E MONROE Street
Additional Parcels Y/NYes
Attached Garage No
Cap Rate7.79
Carport Y/NNo
CityPhoenix
Community FeaturesNo Pool
Construction MaterialsOther, Wood Frame, Painted, Stucco
CoolingCentral Air, See Remarks, Individual
CountyMaricopa
DisclosuresOther (See Remarks), None
ElectricAPS, Individual Meter
Elementary School DistrictWilson Elementary District
Garage Y/NNo
HeatingSee Remarks, Individual, Heat Pump, Electric
High School DistrictPhoenix Union High School District
Insurance Expense1599.0
Lease Considered Y/NNo
Lease Renewal Y/NNo
MaintenanceExpense6313.0
Middle/Junior High SchoolWilson Elementary School
MobileHomeRemainsYNNo
Net Operating Income80990.0
New ConstructionNo
New Financing: CashTrue
New Financing: ConventionalTrue
Number Of Units Total9
Open Parking Spaces15.0
Operating Expense31557.0
OwnerPaysTrash Collection, Water, Sewer
OwnershipFee Simple
OwnershipFee Simple
Property TypeMultiple Dwellings
Rent Control Y/NNo
RoofOther, Composition, Rolled/Hot Mop
Senior CommunityN
SewerPublic Sewer
Standard StatusActive
StatusActive
Subdivision NameEL MOLINO PLACE
Tax Annual Amount1557.0
Tax Lot16
Tax Year2025
Township1N
Water Sewer Expense22088.0
Year Built1944
ZoningR-5
Exterior for 2916 E MONROE Street
Covered Spaces0.0
Crops Included Y/NNo
Irrigation Water Rights Y/NNo
Lot Dimensions100 ft x 150 ft
Number of Buildings6
Parking FeaturesOther, >1 Space Per Unit, On Street
Road Surface TypeConcrete, Asphalt
SpaNo
Total Parking15.0
Water SourceCity Franchise
Additional Details
Price History
Schools
Elementary School
N/A
High School
N/A
Middle School
Wilson Elementary School
