Properties
Phoenix, AZ 85003 1015 S 1ST Avenue
$714,900
9 more
Presented By: Jason Mitchell Real Estate; 480-522-1030
Home Details
Exceptional 3-unit, garden-style investment opportunity offering a 9.23% gross CAP rate. The property features a thoughtfully reimagined front residence originally built in 1936 and fully renovated in 2024, along with a newly constructed rear ADU completed in 2024. The unit mix includes one (1) 3-bed/2-bath unit, (1) 2-bed/2bath unit, and (1) 2-bed/1-bath unit. Each residence offers fully upgraded interiors with white quartz countertops, luxury vinyl plank flooring, subway tile showers, stainless steel appliances, and in-unit washer and dryer. Recent exterior improvements include new stucco, dual-pane windows, new HVAC systems, a new roof, and ample on-site storage. Tenants also enjoy access to a spacious shared backyard area, creating a comfortable outdoor setting for residents. designed for shared outdoor living.
Ideally situated in the Roosevelt Arts District, the property offers convenient access to Downtown Phoenix's thriving cultural venues, acclaimed dining, and premier entertainment destinations.
Presented By: Jason Mitchell Real Estate; 480-522-1030
Interior Features for 1015 S 1ST Avenue
Bathrooms
Total Baths
Other Interior Features
Air Conditioning Y/NYes
FlooringCeramic Tile, Vinyl
Heating Y/NYes
General for 1015 S 1ST Avenue
Additional Parcels Y/NNo
Attached Garage No
Cap Rate9.35
Carport Y/NNo
CityPhoenix
Community FeaturesOther
Construction MaterialsStucco, Block
CoolingCeiling Fan(s), Electric
CountyMaricopa
DirectionsFrom 7th Street - Turn West onto Buckeye Rd - Turn North onto 1st Street. 2nd House (3rd Lot) on Right.
DisclosuresNone
ElectricAPS
Elementary SchoolLowell Elementary School
Elementary School DistrictPhoenix Elementary District
Garage Y/NNo
Gross Income66840.0
HeatingForced Air, Central
High School DistrictPhoenix Union High School District
Lease Considered Y/NNo
Lease Renewal Y/NNo
Middle/Junior High SchoolPhoenix #1 iAcademy
MobileHomeRemainsYNNo
Net Operating Income66840.0
New ConstructionNo
New Financing: CashTrue
New Financing: ConventionalTrue
New Financing: FHATrue
New Financing: VATrue
Number Of Units Total3
Occupancy TypeTenant
Open Parking Spaces5.0
Operating Expense523.0
OwnerPaysWater, Sewer
OwnershipFee Simple
OwnershipFee Simple
Property TypeMultiple Dwellings
Rent Control Y/NNo
RoofBuilt-Up
Senior CommunityN
SewerPublic Sewer
Standard StatusActive
StatusActive
Subdivision NameMONTGOMERY
Tax Annual Amount523.0
Tax Lot7
Tax Year2025
Township1N
Year Built1936
ZoningR5
Exterior for 1015 S 1ST Avenue
Covered Spaces0.0
Crops Included Y/NNo
Irrigation Water Rights Y/NNo
Lot Dimensions134'x50'
Number of Buildings2
Parking Features>1 Space Per Unit
Road Surface TypeAsphalt
SpaNo
Total Parking5.0
Water SourceCity Franchise
Additional Details
Price History
Schools
High School
N/A
Elementary School
Lowell Elementary School
Middle School
Phoenix #1 iAcademy Middle School
