525526 N 32nd Street #1-13 Phoenix, AZ 85008
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Subdivision Shelton Add Lot 20 W2 S 75' Blk 1 Ex W 7'
MLS Listing ID 6881870
Maintenance Fees $6,686
Year Built 1978
Annual Tax Amount $2,763
Tax Year 20
Lot Dimensions Irr
Source Arizona Regional Multiple Listing Service (ARMLS)
Property Description
525 & 526 N 32nd Street, Phoenix, AZ APNs: 121-17-026-A & 121-17-028-A This offering includes two contiguous parcels totaling approximately 10,498 square feet of rentable space across 13 units. The diversified unit mix offers strong leasing flexibility and long-term cash flow potential: Five legal studio units (Unit 7: ~400 SF; Units 6, 8, 9, 10: ~250 SF)
One additional studio (Unit 12A: ~250 SF, seller-added)
Current Rents: $750-$850 | Market Rent: ~$950
Six one-bedroom units (Units 1-5: ~600 SF; Unit 11: ~375 SF)
Current Rent: ~$850 | Market Rent: ~$950
One detached single-family residence featuring a 2-bedroom, 1-bath home with an attached 1-bedroom apartment
Rents are currently below market, offering investors a clear path to value-add upside through rental increases, improved management, and light renovations. Additional income is generated from tenant storage units (average $25/month), and the property also features an on-site laundry facility.
Tenants enjoy private patios or balconies, and the property is within close proximity to Valleywise Health Medical Center, the VA Hospital, and other major employers in this thriving urban submarket.
This is a rare opportunity to acquire a well-located, income-producing asset in a high-growth area with strong fundamentals and long-term appreciation potential.
All facts and figures approximate buyer verify information
Location
State AZ
County Maricopa
Community Shelton Add Lot 20 W2 S 75' Blk 1 Ex W 7'
Zoning R-3
Interior
Heating Other, Individual, Central, Window/Wall Unit(s)
Cooling Window/Wall Unit
Flooring Carpet, Ceramic Tile, Vinyl
Appliance See Remarks, Free-Standing Electric Oven
Exterior
Parking Features Paved, Free
Community Features Other, See Remarks, No Pool
Roof Type Composition,Built-Up
Building
Sewer Other, Public Sewer
Water See Remarks, City Franchise
New Construction No
Schools
Elementary Schools Brunson-Lee Elementary School
Middle Schools Balsz Online Academy (B.O.A.)
High Schools Alhambra High School
School District Phoenix Union High School District
Others
Senior Community No
Tax ID 121-17-028
Acceptable Financing Owner May Carry, Conventional, VA Loan
Listing Terms Owner May Carry, Conventional, VA Loan
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