$1,550,000
Phoenix, AZ 85020
MLS# 6732554
1 / 16
Property Description
Find your prime investment opportunity today! This is an 8-unit low-rise complex. Built in 1980, but was extensively upgraded in 2023, making it a turnkey investment with significant potential for income growth. Offering a mix of two standalone 2-bedroom, 2-bathroom units and six 2-bedroom, 1-bathroom units, with modern amenities and high-quality finishes. Each unit features spacious living areas, updated kitchens and bathrooms, and individual storage units. The complex also boasts ample parking with 24 spaces and a well-maintained exterior. The proximity to major employers, shopping centers, hiking trails, and parks puts it in a highly desirable location, this property is perfect for long term tenants!
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $1,550,000
List Price: $1,550,000
Status: Active
List Date: 2024-07-17
Location, Tax & Legal
Assessor's Map #: 34
Legal Description (Abbrev): N 135.03' OF S 168.03' OF E 200' OF W 448' OF SW4 SE4 EX E 50' .47 AC
Assessor's Parcel #: 145
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 104702
Taxes: 3005
Legal: N 135.03' OF S 168.03' OF E 200' OF W 448' OF SW4 SE4 EX E 50' .47 AC
Marketing Name: E Dunlap Ave
House Number: 1224
Compass: E
Street Name: DUNLAP
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85020
Zip4: 3076
County Code: Maricopa
Assessor Number: 159-34-145
Tax Year: 2023
General Property Description
# of Buildings: 3
Uncvrd Parking Spcs: 24
Lot Size Dimensions: Unknown
Total # of Units: 8
High School District: Glendale Union High School District
Year Built: 1980
Zoning: R-3
Legal Info
Range: 3E
Section: 28
Township: 3N
Project Type
5 - 12 Units: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Vinyl: 1
Ceramic Tile: 1
Carpet: 1
Sale Includes
Land & Building: 1
Income & Expenses
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual Other Expense: 27500
Operating Exp: 30505
Other Income: 1049.34
Vacancy Allowance: 0.05
Adjusted Gross Inc: 133418.73
Pmt & Rate Info
Cap Rate: 6.05
Equity: 1700000
Down Payment %: 25
Monthly Payments: 10641
Total Owed: 0
Showing Notification Methods
Showing Service: No Showing Service Used
Text: 1
Email: 1
Phone Call: 1
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Individual: 1
Central: 1
Cooling
Ceiling Fan(s): 1
Central Air: 1
Individual: 1
Exterior Amenities
Landscape Water System: 1
Fenced: 1
Sidewalk(s): 1
Security Light(s): 1
Tenant Pays
Electricity: 1
Appliances Included
Dishwasher: 1
Disposal: 1
Microwave: 1
Refrigerator: 1
Free-Standing Range: 1
Washer/Dryer: 1
Road Access Type
Dedicated Street: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Projected Proforma: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
>1 Space Per Unit: 1
Paved: 1
Electric
APS: 1
Submetered System: 1
Gas
SW Gas: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
New Financing
Cash: 1
Conventional: 1
Existing 1st Loan
Conventional: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 8
Avg Rent: 1450
Avg SqFt: 806
# Baths: 10
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Directions: From SR-51 Freeway exit on Northern and head west. Turn right on N 12th St then turn right on Dunlap Ave. Property will be on the left.
Geo Lat: 33.568009
Geo Lon: -112.055771
Income Expenses
Gross Annual Sch Inc: 139391.43
Net Operating Income: 102913.73
Property Features
Project Type: 5 - 12 Units
Construction: Block
Const - Finish: Painted
Roofing: Composition
Floors: Vinyl; Ceramic Tile; Carpet
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Landscape Water System; Fenced; Sidewalk(s); Security Light(s)
Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer
Heating: Individual; Central
Cooling: Ceiling Fan(s); Individual; Central Air
Water Source: City Franchise
Sewer: Sewer - Public
Electric: APS; Submetered System
Gas: SW Gas
Parking Features: >1 Space Per Unit; Paved
Road Access Type: Dedicated Street
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity
Source of Fincl Data: Owner; Projected Proforma
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
Existing 1st Loan: Conventional
New Financing: Cash; Conventional
Environmental: None
Listing Office: Axen Realty, LLC
Last Updated: December - 31 - 2025
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