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2916 E Monroe St 9 Unit Apartment Building $1,460,742 CAD ($162,305 CAD/Unit) 7.53% Cap Rate Phoenix, AZ 85034
Investment Highlights
- 100% occupied 9-unit multifamily with stable cash flow and value-add upside.
- Strategic Phoenix location near Downtown, Sky Harbor Airport, Loop 202, and I-10.
- Attractive price per unit at $115,555 and price per SF at $241.
- Diverse unit mix: studios, 1BR, 2BR, and a large 3BR unit over 1,000 SF.
- Recent full sewer line replacement mitigates major capital expense risk.
- Pro forma cap rate of 7.78% with NOI of $78,335 and proven rent growth.
Executive Summary
Matthews™ presents 2916 E Monroe Street, a nine-unit multifamily investment opportunity in Phoenix, AZ. Built in 1940, the property spans two contiguous parcels (2916 and 2920 E. Monroe Street) and features a diverse unit mix: three studios, three one-bedrooms, two two-bedrooms, and one large
three-bedroom unit over 1,000 SF. The asset offers stable current cash flow with upside potential through interior and exterior renovations. 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.
David Harrington
Matthews Real Estate Investment Services, Inc
License # CO701910000, BR715518000 (AZ)
4110 N Scottsdale Rd Suite 100, Scottsdale, AZ 85251
(866) 889-0550
three-bedroom unit over 1,000 SF. The asset offers stable current cash flow with upside potential through interior and exterior renovations. 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.
David Harrington
Matthews Real Estate Investment Services, Inc
License # CO701910000, BR715518000 (AZ)
4110 N Scottsdale Rd Suite 100, Scottsdale, AZ 85251
(866) 889-0550
Property Facts
| Price | $1,460,742 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $162,305 CAD | Building Class | C |
| Sale Type | Investment | Building Size | 4,306 SF |
| Cap Rate | 7.53% | No. Stories | 1 |
| No. Units | 9 | Year Built | 1946 |
| Property Type | Multifamily | Parking Ratio | 0.93/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | M-H - Multifamily | ||
| Price | $1,460,742 CAD |
| Price Per Unit | $162,305 CAD |
| Sale Type | Investment |
| Cap Rate | 7.53% |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Building Size | 4,306 SF |
| No. Stories | 1 |
| Year Built | 1946 |
| Parking Ratio | 0.93/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | M-H - Multifamily |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 CAD | |
| Land Assessment | $0 CAD | Total Assessment | $30,921 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$30,921 CAD
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2916 E Monroe St
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