DENTON TRACT
Property • Multiple Dwellings
Web ID # 7033404
$4,450,000.00
0 Beds • 0 Baths
Property Features
Arizona Regional Multiple Listing Service (ARMLS)
The Gem on Missouri is a 29-unit multifamily community positioned in the highly desirable Midtown Phoenix submarket. Located at 1623 & 1625 W Missouri Ave, the property was originally constructed in 1963 and spans approximately ±22,400 square feet, with an average unit size of ±772 SF, offering efficient and functional floor plans that appeal to a broad renter base. The property is currently achieving average rents of approximately $1,074, below market comparables averaging $1,317, representing upside of approximately $243 per unit. The asset has already undergone comprehensive interior renovations, including upgraded finishes and in-unit washer and dryer across all units, positioning this as primarily
operational value-add opportunity
Dwelling Type: Multiple Dwellings
Subdivision: DENTON TRACT
Year Built: 1964, County: US
Listing is courtesy of Matthews Real Estate Investment Services
