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8910-8912 N 3rd St 10 Unit Apartment Building $2,606,272 CAD ($260,627 CAD/Unit) 5.18% Cap Rate Phoenix, AZ 85020
INVESTMENT HIGHLIGHTS
- Fully renovated 10-unit multifamily in Phoenix infill location
- Recently stabilized after ~18 months of repositioning
- De-risked future capex
- ±$355,000 in total CapEx including ±$121,000 full electrical overhaul
- Stabilized pro forma GPR of ±$142,800/year
EXECUTIVE SUMMARY
FULLY UPDATED ELECTRICAL & WIRING. Fully renovated 10-unit multifamily asset in the highly desirable Uptown Phoenix submarket. The property features a compelling unit mix across two contiguous parcels and benefits from approximately $355,000 of capital improvements completed over the last 1.5 years. With strong leasing momentum, stabilized operations, and market rent upside, this property is well-positioned for both yield-focused and appreciation-driven investors.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$196,918
|
$37.87
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$9,846
|
$1.89
|
| Effective Gross Income |
$187,072
|
$35.98
|
| Taxes |
$3,767
|
$0.72
|
| Operating Expenses |
$48,330
|
$9.29
|
| Total Expenses |
$52,098
|
$10.02
|
| Net Operating Income |
$134,975
|
$25.96
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $196,918 |
| Annual Per SF | $37.87 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $9,846 |
| Annual Per SF | $1.89 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $187,072 |
| Annual Per SF | $35.98 |
| Taxes (CAD) | |
|---|---|
| Annual | $3,767 |
| Annual Per SF | $0.72 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $48,330 |
| Annual Per SF | $9.29 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $52,098 |
| Annual Per SF | $10.02 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $134,975 |
| Annual Per SF | $25.96 |
PROPERTY FACTS
| Price | $2,606,272 CAD | Building Class | C |
| Price Per Unit | $260,627 CAD | Lot Size | 0.29 AC |
| Sale Type | Investment | Building Size | 5,200 SF |
| Cap Rate | 5.18% | Average Occupancy | 80% |
| No. Units | 10 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1945/2024 |
| Property Subtype | Apartment | Parking Ratio | 1/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R-5 - Residential | ||
| Price | $2,606,272 CAD |
| Price Per Unit | $260,627 CAD |
| Sale Type | Investment |
| Cap Rate | 5.18% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 5,200 SF |
| Average Occupancy | 80% |
| No. Stories | 1 |
| Year Built/Renovated | 1945/2024 |
| Parking Ratio | 1/1,000 SF |
| Zoning | R-5 - Residential |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Freezer
- Patio
- Vinyl Flooring
- Window Coverings
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Online Services
- Private Bathroom
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 2 | $1,345 CAD | 350 |
| 1+1 | 6 | $1,513 CAD | 500 - 600 |
| 2+1 | 2 | $1,551 CAD | 750 |
1 1
Walk Score®
Very Walkable (86)
Bike Score®
Very Bikeable (78)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $17,412 CAD | |
| Land Assessment | $1,728 CAD | Annual Taxes | $3,767 CAD ($0.72 CAD/SF) |
| Improvements Assessment | $0 CAD | Tax Year | 2025 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,728 CAD
Improvements Assessment
$0 CAD
Total Assessment
$17,412 CAD
Annual Taxes
$3,767 CAD ($0.72 CAD/SF)
Tax Year
2025
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8910-8912 N 3rd St
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