1 of 3

2 of 3

3 of 3

•  Media
• Map
• Street View

2916 E Monroe St
Phoenix, AZ 85034 East Side

$1,040,000 USD

Apartments For Sale  •  4,306 SF

Property Details

• Property Type Apartments
• Total Building Size 4,306 SF
• Building Class C
• Year Built 1946
• Cap Rate 7.53 %
• Zoning M-H

51 Transit Score

64 Walk Score

Highlights

100% occupied 9-unit multifamily with stable cash flow and value-add upside.

Diverse unit mix: studios, 1BR, 2BR, and a large 3BR unit over 1,000 SF.

Strategic Phoenix location near Downtown, Sky Harbor Airport, Loop 202, and I-10.

Recent full sewer line replacement mitigates major capital expense risk.

Attractive price per unit at $115,555 and price per SF at $241.

Pro forma cap rate of 7.78% with NOI of $78,335 and proven rent growth.

Cap Rate:

7.53 %

Amenities

• 24 Hour Access
• Tenant Controlled HVAC
• Heating
• Smoke Free
• Kitchen
• Refrigerator
• Oven
• Tub/Shower
• Walk-Up
• Smoke Detector

Public Transportation

Transit/Subway	Drive	Walk	Distance
24th St/Washington (METRO Light Rail - Valley Metro (Phoenix Light Rail))	2 min	16 min	0.8 mi
24th St/Jefferson (METRO Light Rail - Valley Metro (Phoenix Light Rail))	2 min	17 min	0.9 mi
Airport	Drive	Walk	Distance
Phoenix Sky Harbor International	9 min	-	4.1 mi
Phoenix-Mesa Gateway	43 min	-	31.6 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	4
Type:	Surface
Included in Rent:	Yes