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3611 N 5th Ave
Phoenix, AZ 85013 Midtown Phoenix

$3,400,000 USD

Apartments For Sale  •  14,400 SF

Property Details

• Property Type Apartments
• Total Building Size 14,400 SF
• Lot Size 0.4 AC
• Building Class C
• Year Built 1961
• Cap Rate 5.26 %
• Zoning R-3, Phoenix

50 Transit Score

70 Walk Score

Highlights

12-Unit Garden-Style Multifamily Property in Prime Midtown Phoenix Melrose District

Fully Renovated 3-Bedroom Units Averaging 1,200 SF with In-Unit Washer/Dryer

5.26% Current Cap Rate with 5.67% Pro Forma Cap Rate and Strong Rental Upside

Immediate Access to Valley Metro Light Rail and Major Employment Centers

Resort-Style Amenities Including Swimming Pool, BBQ Area, and Gated Entry

100% Occupied Property in Rapidly Redeveloping Urban Infill Corridor

Cap Rate:

5.26 %

Public Transportation

Transit/Subway	Drive	Walk	Distance
Osborn/Central Ave (METRO Light Rail - Valley Metro (Phoenix Light Rail))	3 min	10 min	0.5 mi
Indian School/Central Ave (METRO Light Rail - Valley Metro (Phoenix Light Rail))	3 min	14 min	0.7 mi
Thomas/Central Ave (METRO Light Rail - Valley Metro (Phoenix Light Rail))	3 min	17 min	0.9 mi
Airport	Drive	Walk	Distance
Phoenix Sky Harbor International	17 min	-	8.8 mi
Phoenix-Mesa Gateway	50 min	-	36.0 mi