$849,000
Phoenix, AZ 85008
MLS# 7014168
1 / 21
Property Description
Fully renovated and vacant 3-unit apartment community located in the desirable East Phoenix Submarket. Originally built in 1961, the property has undergone comprehensive interior + exterior upgrades, positioning it as a turnkey investment in a strong rental submarket. Interior upgrades include in-unit GE washer/dryer, quartz countertops, laminate wood-style flooring, brand-new shaker-style cabinetry, and walk-in tile showers. Exterior improvements include fresh paint, new asphalt, updated landscaping, and the addition of perimeter fencing and turf, enhancing curb appeal and while minimizing future capital needs. Each unit is currently fully vacant, providing a great opportunity for either an owner-occupant or investor to immediately implement a tailored leasing strategy. Owner/Agent
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $849,000
List Price: $849,000
Status: Active
List Date: 2026-04-15
Location, Tax & Legal
Assessor's Map #: 22
Assessor's Parcel #: 5
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 111502
Taxes: 1508
Legal: LOT 5 CARDINAL TRACT MCR 006418
Marketing Name: Yal
House Number: 3020
Compass: E
Street Name: YALE
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85008
Zip4: 2062
County Code: Maricopa
Subdivision: CARDINAL TRACT
Assessor Number: 120-22-005
Tax Year: 2025
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 0
Lot Size Dimensions: 8964 sqft
Total # of Units: 3
Elementary School District: Creighton Elementary District
High School District: Phoenix Union High School District
Elementary School: Monte Vista Elementary School
Jr. High School: Monte Vista Elementary School
High School: Camelback High School
Year Built: 1961
Zoning: R3
Legal Info
Range: 3E
Section: 35
Township: 2N
Lot Number: 5
Project Type
Tri-Plex: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Concrete: 1
Sale Includes
Land & Building: 1
Laundry Equipment: 1
Income & Expenses
Annual Ins Exp: 2800
Annual Landscape Exp: 0
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual Other Expense: 0
Operating Exp: 4308
Other Income: 2300
Vacancy Allowance: 0
Adjusted Gross Inc: 53600
Pmt & Rate Info
Cap Rate: 4.83
Equity: 849000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Showing Notification Methods
Showing Service: No Showing Service Used
Text: 1
Phone Call: 1
Lockbox Type
See Private Remarks: 1
Community Features
No Pool: 1
Heating
Natural Gas: 1
Cooling
Electric: 1
Exterior Amenities
Landscape Water System: 1
Desert Landscaping: 1
Partially Fenced: 1
Separate Storage: 1
Security Light(s): 1
Interior Features
Unfurnished: 1
Tenant Pays
Gas: 1
Electricity: 1
Appliances Included
Built-In Electric Oven: 1
Dishwasher: 1
Disposal: 1
Microwave: 1
Refrigerator: 1
Built-In Range: 1
Washer/Dryer: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Projected Proforma: 1
Water Source
City Franchise: 1
Master Meter: 1
Sewer
Sewer - Public: 1
Parking Features
Carport: 1
On Street: 1
1 Space/Unit: 1
Electric
SRP: 1
Individual Meter: 1
Gas
SW Gas: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
New Financing
Cash: 1
VA: 1
Conventional: 1
FHA: 1
1031 Exchange: 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
None: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 2
Avg Rent: 0
Avg SqFt: 700
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 1
Avg Rent: 0
Avg SqFt: 1025
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Cross Street: Thomas and 32nd St
Geo Lat: 33.476109
Geo Lon: -112.016245
Income Expenses
Gross Annual Sch Inc: 51300
Net Operating Income: 41000
Property Features
Project Type: Tri-Plex
Construction: Block
Const - Finish: Painted
Roofing: Composition
Floors: Concrete
Sale Includes: Land & Building; Laundry Equipment
Community Features: No Pool
Exterior Amenities: Landscape Water System; Desert Landscaping; Partially Fenced; Separate Storage; Security Light(s)
Interior Features: Unfurnished
Appliances Included: Built-In Electric Oven; Built-In Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer
Heating: Natural Gas
Cooling: Electric
Water Source: City Franchise; Master Meter
Sewer: Sewer - Public
Electric: SRP; Individual Meter
Gas: SW Gas
Parking Features: Carport; On Street; 1 Space/Unit
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection
Tenant Pays: Electricity; Gas
Source of Fincl Data: Projected Proforma
Showing Notification Methods: Text; Phone Call
Lockbox Type: See Private Remarks
Existing 1st Loan: Treat as Free&Clear
Existing 1st Loan Type: Not Applicable
Existing 1st Loan Terms: Not Applicable
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Loan Type: Not Applicable
Existing 2nd Loan Terms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Loan Type: Not Applicable
Existing 3rd Loan Terms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Cash; VA; FHA; Conventional; 1031 Exchange
Environmental: None
Listing Office: Matthews Real Estate Investment Services
Last Updated: April - 20 - 2026
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