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2916 E Monroe St, Phoenix, AZ 85034

  • $1,040,000

  • 10

    bed

  • 7

    bath

Multi-family for sale 127 days
80 homes bought nearby with Movoto recently

About 2916 E Monroe St

Property type Multi-family
Neighborhood
Year built 1944
HOA fee $0/month
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.
Listed by
Listing Agent - Bradley Skenderian
Listing Office - Matthews Real Estate Investment Services
Source: ARMLS mls logo
MLS#6990042 • last updated 4 months ago
Movoto checked ARMLS for data 3 minutes ago
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Overview
Cooling/AC Central Air, See Remarks, Individual
Heating See Remarks, Individual, Heat Pump, Electric
MLS # 6990042
Type Multiple Dwellings
Status Active
Property Tax 1557
Year Built 1944
Interior
Flooring Other, Ceramic Tile
Appliances Built-In Range, Free-Standing Range, Other, Refrigerator, Microwave
Exterior
Roof Other, Composition, Rolled/Hot Mop
Construction Other, Wood Frame, Painted, Stucco
Parking Other, >1 Space Per Unit, On Street
# of Open Parking Spaces 15
Amenities / Utilities
Water Source City Franchise
Sewer/Septic Public Sewer
Location
Subdivision EL MOLINO PLACE
Community Features No Pool
Elementary School District Wilson Elementary District
Middle School Wilson Elementary School
High School District Phoenix Union High School District
APN 121-65-018
Zoning R-5
Multifamily Details
Total # of Units 9
Expense: Operating 31557
Financial Data Source Other (See Remarks)
Expense: Maintenance 6313
Expense: Insurance 1599
Net Operating Income 80990
Gross Income 114060
Expense: Water/Sewer 22088
Gross Scheduled Income 114060
Lot/ Land Details
Road Surface Concrete, Asphalt
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2/10
Wilson Primary School
public Grades PK, K-3
Wilson Elementary District
2/10
Wilson Elementary School
public Grades 4-8
Wilson Elementary District
2/10
Camelback High School
public Grades 9-12
Phoenix Union High School District
8/10
Phoenix Coding Academy
public Grades 9-12
Phoenix Union High School District
Source: GreatSchools.org © 2026. All rights reserved.

Around El Molino Place

Explore everything this neighborhood has to offer. Learn more about El Molino Place.
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61/100
Walk
72/100
Family
94/100
Dining
97/100
Pet
  • Real Estate
  • AZ
  • Maricopa County
  • Phoenix
  • 85034
  • El Molino Place
  • 2916 E Monroe St

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