EL MOLINO PLACE
Property • Multiple Dwellings
Web ID # 6990042
$1,040,000.00
0 Beds • 0 Baths
Property Features
Arizona Regional Multiple Listing Service (ARMLS)
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.
Dwelling Type: Multiple Dwellings
Subdivision: EL MOLINO PLACE
Year Built: 1944, County: US
Listing is courtesy of Matthews Real Estate Investment Services
