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8910-8912 N 3rd St 10 Unit Apartment Building $2,128,020 CAD ($212,802 CAD/Unit) 7.28% Cap Rate Phoenix, AZ 85020
Investment Highlights
- 100% Occupied — 10 of 10 Units Leased, Income Mode Day One
- ±$355,000+ Capital Invested — Full Electrical Overhaul, Interior Renovations & Exterior Refresh
- Block Construction | Year Built 1945 | Fully Renovated Through 2025 | De-Risked Future Capex
- 10-Unit Multifamily | Two Buildings, Two Parcels | Central Phoenix / Uptown Corridor
- Unit Mix: 2 × 2BR/1BA · 6 × 1BR/1BA · 2 × Studio | 10 On-Site Parking Spaces | Walk-Up Style
Executive Summary
100% OCCUPIED | $1,500,000 | A 10-unit, fully renovated multifamily asset in central Phoenix's North Uptown corridor — block construction, on-site parking, and a completed capital plan that puts the next owner in income mode on day one.
Two 5-plex buildings on two contiguous parcels (±25,000 SF combined) with a compelling unit mix: 2 × 2BR/1BA · 6 × 1BR/1BA · 2 × Studio. Year built: 1945, fully renovated through 2025. The capital plan is complete — full electrical overhaul (±$121,000), unit-by-unit interior renovation, and exterior refresh totaling ±$355,000+ in improvements. 10 of 10 units leased. The next owner inherits a renovated, financeable asset with the deferred-maintenance risk pulled forward and paid for — and a clear runway for rent growth as in-place leases renew.
Two 5-plex buildings on two contiguous parcels (±25,000 SF combined) with a compelling unit mix: 2 × 2BR/1BA · 6 × 1BR/1BA · 2 × Studio. Year built: 1945, fully renovated through 2025. The capital plan is complete — full electrical overhaul (±$121,000), unit-by-unit interior renovation, and exterior refresh totaling ±$355,000+ in improvements. 10 of 10 units leased. The next owner inherits a renovated, financeable asset with the deferred-maintenance risk pulled forward and paid for — and a clear runway for rent growth as in-place leases renew.
Financial Summary (Pro Forma - 2027) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$187,266
|
$36.01
|
| Other Income |
$14,300
|
$2.75
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$201,566
|
$38.76
|
| Taxes |
$3,876
|
$0.75
|
| Operating Expenses |
$42,863
|
$8.24
|
| Total Expenses |
$46,738
|
$8.99
|
| Net Operating Income |
$154,828
|
$29.77
|
Financial Summary (Pro Forma - 2027)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $187,266 |
| Annual Per SF | $36.01 |
| Other Income (CAD) | |
|---|---|
| Annual | $14,300 |
| Annual Per SF | $2.75 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $201,566 |
| Annual Per SF | $38.76 |
| Taxes (CAD) | |
|---|---|
| Annual | $3,876 |
| Annual Per SF | $0.75 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $42,863 |
| Annual Per SF | $8.24 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $46,738 |
| Annual Per SF | $8.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $154,828 |
| Annual Per SF | $29.77 |
Property Facts
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 | $1,383 CAD | 350 |
| 1+1 | 6 | $1,557 CAD | 500 - 600 |
| 2+1 | 2 | $1,596 CAD | 750 |
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Moderately walkable
60/100
Moderately drivable
70/100
Good public transit
60/100
Very bikeable
80/100
Property Taxes
| Parcel Numbers | Total Assessment | $17,624 CAD (2025) | |
| Land Assessment | $1,749 CAD (2025) | Annual Taxes | $3,876 CAD ($0.75 CAD/SF) |
| Improvements Assessment | $0 CAD (2025) | Tax Year | 2027 |
Property Taxes
Parcel Numbers
Land Assessment
$1,749 CAD (2025)
Improvements Assessment
$0 CAD (2025)
Total Assessment
$17,624 CAD (2025)
Annual Taxes
$3,876 CAD ($0.75 CAD/SF)
Tax Year
2027
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8910-8912 N 3rd St
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