2916 E Monroe Street, Phoenix, AZ 85034
- $1,040,000
- List Price
- $1,040,000
- Days on Market
- 151
- Status
- ACTIVE
- MLS#
- 6990042
- City
- Phoenix
- Subdivision
- El Molino Place
- Year Built
- 1944
Property Description
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.
Additional Information
- Middle School
- Wilson Elementary School
- Community Features
- No Pool
- Construction
- Wood Frame, Other, Painted, Stucco
- Cooling
- Central Air, Varies by Unit, See Remarks
- Electric
- APS, Individual Meter
- Flooring
- Ceramic Tile, Other
- Heating
- Electric, Heat Pump, Varies by Unit, See Remarks
- New Financing
- Cash, Conventional
- Parking Features
- Other, On Street, >1 Space Per Unit
- Roofing
- Composition, Other, Rolled/Hot Mop
- Subdivision
- El Molino Place
- Taxes
- $1,557
- Tax Year
- 2025
- Tenant Pays
- Electricity, Cable TV
- Units
- 9
- Water
- City Franchise
- Zoning
- R-5
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Listing courtesy of Matthews Real Estate Investment Services.
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved.