$1,110,000
Phoenix, AZ 85009
MLS# 7025359
1 / 23
Property Description
Discover a prime investment opportunity in strong central Phoenix with this fully occupied 8-unit multifamily complex generating consistent cash flow from day one. This exceptional property comprises three spacious 1-bedroom, 1-bathroom units and five efficient studio units, perfectly positioned to capitalize on the area's high demand for affordable rentals where vacancies remain rare. Each unit features its own electrical sub-panel for independent metering and billing. While all three 1-bedroom units boast in-unit washer/dryers for premium tenant appeal, and studios share a convenient on-site laundry facility. The property is fully fenced with one dedicated parking spot per unit, creating a secure and organized community.
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $1,110,000
List Price: $1,110,000
Status: Active
List Date: 2026-05-07
Location, Tax & Legal
Assessor's Map #: 58
Legal Description (Abbrev): TIERRA VERDE MCR 36/21 LOT 9 EX W 40F
Assessor's Parcel #: 47
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 114500
Taxes: 988
Legal: TIERRA VERDE MCR 36/21 LOT 9 EX W 40F
Marketing Name: Aurora Apartments
House Number: 909
Compass: S
Street Name: 35TH
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85009
Zip4: 5501
Country: US
County Code: Maricopa
Subdivision: TIERRA VERDE
Assessor Number: 109-58-047
Tax Year: 2025
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 8
Lot Size Dimensions: 74' x 123'
Flood Zone: No
Total # of Units: 8
Elementary School District: Murphy Elementary District
High School District: Phoenix Union High School District
Year Built: 1946
Zoning: R-5
Legal Info
Range: 2E
Section: 11
Township: 1N
Lot Number: 9
Project Type
5 - 12 Units: 1
Construction
Block: 1
Const - Finish
Stucco: 1
Roofing
Composition: 1
Floors
Vinyl: 1
Ceramic Tile: 1
Sale Includes
Land & Building: 1
Income & Expenses
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 988
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 126332.68
Pmt & Rate Info
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: No Showing Service Used
Lockbox Type
None: 1
Community Features
No Pool: 1
Play Area: 1
Barbecue: 1
Other: 1
Heating
Electric: 1
Cooling
Electric: 1
Exterior Amenities
Desert Landscaping: 1
Fenced: 1
Sidewalk(s): 1
Security Light(s): 1
Interior Features
Unfurnished: 1
Fire/Smoke Alarm(s): 1
Mini Blinds: 1
Tenant Pays
Gas: 1
Water: 1
Sewer: 1
Electricity: 1
Trash Collection: 1
Other (See Remarks): 1
Appliances Included
Disposal: 1
Microwave: 1
Refrigerator: 1
Built-In Range: 1
Washer/Dryer: 1
Road Access Type
City Street: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Accountant: 1
Road Responsibility
City Maintained Road: 1
Water Source
Master Meter: 1
Sewer
Sewer - Public: 1
Parking Features
1 Space/Unit: 1
Paved: 1
Electric
APS: 1
Master Meter: 1
Gas
SW Gas: 1
Master Meter: 1
Owner Pays
Landscaping: 1
See Remarks: 1
New Financing
Cash: 1
Conventional: 1
1031 Exchange: 1
Special
Owner/Agent: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Efficiency Units
# Efficiency Units: 5
Avg Rent: 1053
Avg SqFt: 230
# Baths: 1
1 Bedroom Units
# 1 Bedroom Units: 3
Avg Rent: 1370
Avg SqFt: 550
# Baths: 1
2 Bedroom Units
Avg Rent: 0
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Cross Street: 35th Ave & Hadley St
Geo Lat: 33.439318
Geo Lon: -112.134254
Income Expenses
Gross Annual Sch Inc: 126332.68
Property Features
Project Type: 5 - 12 Units
Construction: Block
Const - Finish: Stucco
Roofing: Composition
Floors: Vinyl; Ceramic Tile
Sale Includes: Land & Building
Community Features: No Pool; Play Area; Barbecue; Other
Exterior Amenities: Desert Landscaping; Fenced; Sidewalk(s); Security Light(s)
Interior Features: Unfurnished; Fire/Smoke Alarm(s); Mini Blinds
Appliances Included: Built-In Range; Refrigerator; Disposal; Microwave; Washer/Dryer
Cooling: Electric
Water Source: Master Meter
Sewer: Sewer - Public
Electric: APS; Master Meter
Gas: SW Gas; Master Meter
Parking Features: 1 Space/Unit; Paved
Road Access Type: City Street
Road Surface Type: Asphalt
Road Responsibility: City Maintained Road
Owner Pays: Landscaping; See Remarks
Tenant Pays: Water; Sewer; Electricity; Gas; Trash Collection; Other (See Remarks)
Source of Fincl Data: Accountant
Special: Owner/Agent
Lockbox Type: None
New Financing: Cash; Conventional; 1031 Exchange
Environmental: None
Supplements
Major systems including plumbing, electrical, and HVAC were professionally upgraded in 2021, ensuring reliability and minimal maintenance concerns for years to come. The property is well-maintained with regular upkeep including fresh paint and timely repairs. With its R-5 zoning allowing for maximum density in multifamily development, this property presents significant future redevelopment possibilities for investors seeking long-term upside potential. Located strategically near Downtown Phoenix, the Central Avenue light rail extension, and with easy access to I-10 and I-17, residents enjoy quick commutes to key employment corridors and major transit routes. Beyond the stable current income, this is a true value-add opportunity--the large lot provides room for expansion, and there's strong potential to increase returns by replacing flooring and installing washer/dryers in the remaining studio units, or utilizing the huge courtyard for income-producing amenities like vending machines. This combines built-in stability with substantial upside for an investor ready to maximize returns. DRIVE-BY ONLY; please do not disturb tenants. Walkthroughs available only with accepted offers. Buyer to verify all information.
Listing Office: Fathom Realty
Last Updated: May - 08 - 2026
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