For Sale Multi-Family MLS# 6993194

5035 N 23RD Avenue

Phoenix, AZ 85015

$1,699,000

About 5035 N 23RD Avenue

Uptown PHX 9-unit complex spread out over close to a 25,000-sf lot with R-3 zoning. 7.2 CAP off 2025 P&L w/ 100% occupancy. Nice pocket north of Camelback Road, 1 mile east of GCU & 1/2 mile east of the I-17. Opportunity Zone. Hard to find SELLER FINANCING available but not required (6% interest-only with 30% down in 1st position only). Fully upgraded & fully stabilized. 2025 P&L of $122,000 NOI. Seven buildings. The unit mix consists of (2) two-bedroom units; (4) one-bedroom units; & (3) bigger studio units. The jumbo lot/zoning offers density & additional value potential. Over $250,000 in renovations just a few years ago.

Property details

Property

Type
multi
MLS type
Multi Family Home
Status
Active
Year built
1958
Original price
$1,780,000
MLS #
6993194

Interior

Features
Other, Electric, Heat Pump, Natural Gas, Laminate, Ceramic Tile, Vinyl, Wood, Concrete
Flooring
Laminate, Other, Ceramic Tile, Vinyl, Wood, Concrete
Heating
Other, Heat Pump, Electric, Natural Gas
Cooling
Other, Electric, Heat Pump

Exterior & lot

Features
Sidewalk(s), Off Street, Paved, Free, Assigned, >1 Space Per Unit, Parking spaces: 14
Construction
Wood Frame, Painted, Stucco, Block, Composition, Rolled/Hot Mop
Roof
Composition, Rolled/Hot Mop
Lot
R3, 15325053
Parking
Off Street, Paved, Free, Assigned, >1 Space Per Unit

Schools

District
Alhambra Elementary District
High
Central High School

Utilities

Utilities
Sewer-In & Connected, Public Sewer, City Franchise
Water
City Franchise
Sewer
Sewer-In & Connected, Public Sewer

Financial

Financial
Arizona Regional Multiple Listing Service 2
Annual tax
$6,272
Tax year
2025
Parcel
15325053

Location

Subdivision
CAMELBACK GARDENS
County
Maricopa
Neighborhood
Simpson
Community
Maricopa, Asphalt, Arizona Regional Multiple Listing Service 2, Alhambra Elementary District
Directions
East of the I-17 and north of Camelback Rd.

Location

Neighborhood
Simpson
Subdivision
CAMELBACK GARDENS
School district
Alhambra Elementary District

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Listed by James C Stephens, Better Homes & Gardens Real Estate SJ Fowler

Listing information is provided by the participating MLS / IDX program and is deemed reliable but not guaranteed. All information should be independently verified. Equal Housing Opportunity.