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Tierra Verde 927 S 35th Ave 10 Unit Apartment Building $1,762,688 CAD ($176,269 CAD/Unit) 10.36% Cap Rate Phoenix, AZ 85009
INVESTMENT HIGHLIGHTS
- Income producing VALUE ADD expansion opportunity on the 921 parcel. Space for options like storage units, vending machines, laundry room...etc
- Low property taxes. $1,167 per year
EXECUTIVE SUMMARY
*** Sale includes TWO PARCELS - 921 Parcel (4 Units) # 109-58-049 & & 927 Parcel (6 Units) # 109-58-050 ***
10-Unit Multifamily Investment Opportunity! This renovated and cash-flowing property is in a strong central Phoenix rental market, consisting of 8 one-bedroom/one-bath units and 2 studio units, all renovated around 2022-2023, modern finishes and several updated systems. Each unit is separately metered for electricity, reducing ownership expenses and simplifying management. Very low property tax expense on this one ($1,167/yr). This sale includes two parcels, with the north parcel at 921 S 35th Ave, offering a big space to work with—a rare opportunity for value-add expansion. The additional land provides space to build storage units, install vending machines, add a laundry facility, or develop additional income-producing amenities, significantly increasing future cash flow and property value.
The property is fully occupied with month-to-month leases.
Located near major employment corridors, transit routes, and downtown Phoenix, this property combines stable current income with long-term upside. Excellent turnkey investment with small development potential.
10-Unit Multifamily Investment Opportunity! This renovated and cash-flowing property is in a strong central Phoenix rental market, consisting of 8 one-bedroom/one-bath units and 2 studio units, all renovated around 2022-2023, modern finishes and several updated systems. Each unit is separately metered for electricity, reducing ownership expenses and simplifying management. Very low property tax expense on this one ($1,167/yr). This sale includes two parcels, with the north parcel at 921 S 35th Ave, offering a big space to work with—a rare opportunity for value-add expansion. The additional land provides space to build storage units, install vending machines, add a laundry facility, or develop additional income-producing amenities, significantly increasing future cash flow and property value.
The property is fully occupied with month-to-month leases.
Located near major employment corridors, transit routes, and downtown Phoenix, this property combines stable current income with long-term upside. Excellent turnkey investment with small development potential.
DATA ROOM Click Here to Access
- Operating and Financials
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$209,497
|
$47.61
|
| Other Income |
$10,901
|
$2.48
|
| Vacancy Loss |
$6,221
|
$1.41
|
| Effective Gross Income |
$214,177
|
$48.68
|
| Taxes |
$1,613
|
$0.37
|
| Operating Expenses |
$25,300
|
$5.75
|
| Total Expenses |
$26,913
|
$6.12
|
| Net Operating Income |
$187,264
|
$42.56
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $209,497 |
| Annual Per SF | $47.61 |
| Other Income (CAD) | |
|---|---|
| Annual | $10,901 |
| Annual Per SF | $2.48 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $6,221 |
| Annual Per SF | $1.41 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $214,177 |
| Annual Per SF | $48.68 |
| Taxes (CAD) | |
|---|---|
| Annual | $1,613 |
| Annual Per SF | $0.37 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $25,300 |
| Annual Per SF | $5.75 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $26,913 |
| Annual Per SF | $6.12 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $187,264 |
| Annual Per SF | $42.56 |
PROPERTY FACTS
| Price | $1,762,688 CAD | Apartment Style | Garden |
| Price Per Unit | $176,269 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.42 AC |
| Cap Rate | 10.36% | Building Size | 3,958 SF |
| Gross Rent Multiplier | 8.41 | Average Occupancy | 0% |
| No. Units | 10 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1950 |
| Property Subtype | Apartment | ||
| Zoning | M-H | ||
| Price | $1,762,688 CAD |
| Price Per Unit | $176,269 CAD |
| Sale Type | Investment |
| Cap Rate | 10.36% |
| Gross Rent Multiplier | 8.41 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.42 AC |
| Building Size | 3,958 SF |
| Average Occupancy | 0% |
| No. Stories | 1 |
| Year Built | 1950 |
| Zoning | M-H |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Microwave
- Heating
- Ceiling Fans
- Refrigerator
SITE AMENITIES
- 24 Hour Access
- Walking/Biking Trails
- Storage Space
- Public Transportation
- Private Bathroom
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | $1,573 CAD | 373 - 512 |
| Studios | 2 | $1,348 CAD | 272 |
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PROPERTY TAXES
| Parcel Number | 109-58-049 | Total Assessment | $5,617 CAD |
| Land Assessment | $0 CAD | Annual Taxes | $1,613 CAD ($0.41 CAD/SF) |
| Improvements Assessment | $0 CAD | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
109-58-049
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$5,617 CAD
Annual Taxes
$1,613 CAD ($0.41 CAD/SF)
Tax Year
2025
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Tierra Verde | 927 S 35th Ave
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