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Exceptional Investment Opportunity in a Prime Phoenix Location! Papago View Apartments is a 20 Unit Complex consisting of 5 buildings with 4 units each. Built in 1964 with Solid Block Construction on a 36,000 sq. ft. lot, 19 of the 20 Units have been remodeled with new appliances, cabinetry, countertops & HVAC units. The unit mix is 15 One Bedroom Units and 5 Two Bedroom Units with several units having a private yard. Located just off the Loop 202, tenants enjoy quick commutes & proximity to many outdoor attractions such as Papago Park & the Phoenix Zoo. Exterior Inspection Only. Interior Inspection Only Upon Accepted Contract Unless Vacant Unit is Available.

25 Beds ⋅ 20 Baths ⋅ 7094624 MLS

Exceptional Investment Opportunity in a Prime Phoenix Location! Papago View Apartments is a 20 Unit Complex consisting of 5 buildings with 4 units each. Built in 1964 with Solid Block Construction on a 36,000 sq. ft. lot, 19 of the 20 Units have been remodeled with new appliances, cabinetry, countertops & HVAC units. The unit mix is 15 One Bedroom Units and 5 Two Bedroom Units with several units having a private yard. Located just off the Loop 202, tenants enjoy quick commutes & proximity to many outdoor attractions such as Papago Park & the Phoenix Zoo. Exterior Inspection Only. Interior Inspection Only Upon Accepted Contract Unless Vacant Unit is Available.

320 N 52nd Street, Phoenix

$1,450,000

Price reduced to $1,450,000. Fully occupied Phoenix eight-unit property on one Absolute NNN master lease. Year 2 base rent of $127,200 annually supports an 8.77% lease-basis cap at the new price. Tenant pays taxes, insurance, utilities, maintenance and operations per the lease. Initial term through August 31, 2030, plus two five-year renewal options. Now offered at $1,450,000, 8939 N 8th Street is a fully occupied eight-unit multifamily property in North Phoenix under one Absolute NNN master lease. The property comprises six one-bedroom and two two-bedroom units, with extensive interior renovations completed in 2024. The lease provides $10,600 per month in Year 2 base rent, or $127,200 annually, supporting an 8.77% Year 2 lease-basis cap rate at the new asking price. Base rent increases by $100 per month at the start of each remaining lease year, reaching $130,800 annually in Year 5, equivalent to a 9.02% lease-basis cap rate at the new price. The initial lease runs through August 31, 2030, with two additional five-year renewal options, a personal guarantee and a first right of refusal. Under the Absolute NNN lease, the tenant is responsible for property taxes, insurance, utilities, maintenance and property operations, subject to the executed lease. The property includes three single-story buildings, 12 parking spaces, an on-site laundry room, three storage rooms, gated access and a paver courtyard. Seller financing is unavailable. Cap rates use annual base rent divided by the asking price under the stated lease economics. Tax and insurance reimbursements are excluded from the cap calculation. Buyers should independently verify lease terms, collections, expenses and property information. Executed leases are provided under contract. Please arrange tours through the listing broker. HIGHLIGHTS - New asking price $1,450,000, or $181,250 per unit. - 8.77% Year 2 lease-basis cap on $127,200 in annual base rent. - Absolute NNN master lease across all eight units. - Tenant responsible for taxes, insurance, utilities, maintenance and operations per the lease. - $100 monthly step-up at the start of each remaining lease year. - Initial term through August 31, 2030, plus two five-year renewal options. - Six one-bedroom units and two two-bedroom units. - Extensive 2024 interior renovations, gated courtyard, laundry, storage and 12 parking spaces.

10 Beds ⋅ 8 Baths ⋅ 7061722 MLS

Price reduced to $1,450,000. Fully occupied Phoenix eight-unit property on one Absolute NNN master lease. Year 2 base rent of $127,200 annually supports an 8.77% lease-basis cap at the new price. Tenant pays taxes, insurance, utilities, maintenance and operations per the lease. Initial term through August 31, 2030, plus two five-year renewal options. Now offered at $1,450,000, 8939 N 8th Street is a fully occupied eight-unit multifamily property in North Phoenix under one Absolute NNN master lease. The property comprises six one-bedroom and two two-bedroom units, with extensive interior renovations completed in 2024. The lease provides $10,600 per month in Year 2 base rent, or $127,200 annually, supporting an 8.77% Year 2 lease-basis cap rate at the new asking price. Base rent increases by $100 per month at the start of each remaining lease year, reaching $130,800 annually in Year 5, equivalent to a 9.02% lease-basis cap rate at the new price. The initial lease runs through August 31, 2030, with two additional five-year renewal options, a personal guarantee and a first right of refusal. Under the Absolute NNN lease, the tenant is responsible for property taxes, insurance, utilities, maintenance and property operations, subject to the executed lease. The property includes three single-story buildings, 12 parking spaces, an on-site laundry room, three storage rooms, gated access and a paver courtyard. Seller financing is unavailable. Cap rates use annual base rent divided by the asking price under the stated lease economics. Tax and insurance reimbursements are excluded from the cap calculation. Buyers should independently verify lease terms, collections, expenses and property information. Executed leases are provided under contract. Please arrange tours through the listing broker. HIGHLIGHTS - New asking price $1,450,000, or $181,250 per unit. - 8.77% Year 2 lease-basis cap on $127,200 in annual base rent. - Absolute NNN master lease across all eight units. - Tenant responsible for taxes, insurance, utilities, maintenance and operations per the lease. - $100 monthly step-up at the start of each remaining lease year. - Initial term through August 31, 2030, plus two five-year renewal options. - Six one-bedroom units and two two-bedroom units. - Extensive 2024 interior renovations, gated courtyard, laundry, storage and 12 parking spaces.

8939 N 8th Street, Phoenix

18202 Cave Creek Road Unit 5 units, Phoenix

$625,000

5-UNIT VALUE-ADD INVESTMENT OPPORTUNITY | $625,000 | Approx. $125,000 Per Unit Small portfolio. Big opportunity.Terrace, offering investors an opportunity to acquire a manageable workforce housing portfolio with future flexibility. Each residence is a 1-bedroom plus den / 1-bath floor plan (the den functions as a bedroom but does not have a window) and includes its own washer and dryer. Priced at $625,000--approximately $125,000 per unit--this portfolio is well suited for investors looking to expand an existing rental portfolio or establish a meaningful presence in the Phoenix workforce housing market.The projected income profile offers attractive risk-adjusted return potential for investors who understand value-add opportunities and active portfolio management.This is an unwarrantable condominium community, making conventional residential financing challenging. The ideal purchaser will utilize commercial financing, cash, a 1031 Exchange, private capital, or other investment strategies appropriate for this type of asset. Investment Highlights: Individually deeded condominium ownership allowing future resale flexibility. Professionally managed HOA. Renovated units with in-unit washer and dryer. Strong workforce housing demand in North Phoenix. Covered parking, community pool, on-site management office, barbecue area and convenient freeway access. Attractive entry point at approximately $125,000 per unit. This portfolio offers investors an opportunity to own income-producing real estate with operational upside while maintaining a manageable five-unit footprint. If you're looking for a pristine institutional asset, this isn't it. If you're looking for cash flow, upside, and know how to operate Class C workforce housing, let's talk.

5 Beds ⋅ 5 Baths ⋅ 6770097 MLS

5-UNIT VALUE-ADD INVESTMENT OPPORTUNITY | $625,000 | Approx. $125,000 Per Unit Small portfolio. Big opportunity.Terrace, offering investors an opportunity to acquire a manageable workforce housing portfolio with future flexibility. Each residence is a 1-bedroom plus den / 1-bath floor plan (the den functions as a bedroom but does not have a window) and includes its own washer and dryer. Priced at $625,000--approximately $125,000 per unit--this portfolio is well suited for investors looking to expand an existing rental portfolio or establish a meaningful presence in the Phoenix workforce housing market.The projected income profile offers attractive risk-adjusted return potential for investors who understand value-add opportunities and active portfolio management.This is an unwarrantable condominium community, making conventional residential financing challenging. The ideal purchaser will utilize commercial financing, cash, a 1031 Exchange, private capital, or other investment strategies appropriate for this type of asset. Investment Highlights: Individually deeded condominium ownership allowing future resale flexibility. Professionally managed HOA. Renovated units with in-unit washer and dryer. Strong workforce housing demand in North Phoenix. Covered parking, community pool, on-site management office, barbecue area and convenient freeway access. Attractive entry point at approximately $125,000 per unit. This portfolio offers investors an opportunity to own income-producing real estate with operational upside while maintaining a manageable five-unit footprint. If you're looking for a pristine institutional asset, this isn't it. If you're looking for cash flow, upside, and know how to operate Class C workforce housing, let's talk.

18202 Cave Creek Road Unit 5 units, Phoenix

18202 Cave Creek Road Unit 17units, Phoenix

$2,125,000

17-UNIT VALUE-ADD WORKFORCE HOUSING PORTFOLIO | $2,125,000 | Approx. $125,000 Per Unit. Not every investor is the right buyer for this portfolio and that's exactly the point. This 17-unit workforce housing portfolio consists of individually deeded condominium units within Mountain Springs Terrace and is being offered as a single investment opportunity. The portfolio includes eleven 2-bedroom plus den/2-bath units, five 1-bedroom plus den/1-bath units, and one 3-bedroom/1-bath unit. (The den functions as a bedroom but does not have a window.) Offered at $2,125,000 approximately $125,000 per unit this is a value-add opportunity designed for investors who understand cash flow, operational improvements and long-term appreciation rather than turnkey perfection. The projected income profile offers the type of risk-adjusted return experienced investors often seek in workforce housing assets, recognizing that stronger returns typically accompany opportunities requiring active ownership and thoughtful management. This is an unwarrantable condominium community, making conventional residential financing challenging. The ideal purchaser will be an experienced investor utilizing commercial financing, cash, a 1031 Exchange, private capital, or other investment strategies appropriate for this asset class. Many units have been renovated over time, and every residence includes its own washer and dryer an amenity that continues to attract long-term tenants. The community offers covered parking, a swimming pool, on-site management office, barbecue area, and convenient access to major employment corridors, shopping, Loop 101, SR-51, and public transportation. Investment Highlights: Individually deeded condominium ownership providing long-term ownership flexibility and multiple future exit strategies. Professionally managed HOA. Continued capital improvements and ongoing maintenance demonstrate proactive ownership. Strong demand for workforce housing in an established North Phoenix rental market. Every residence includes an in-unit washer and dryer. Attractive basis at approximately $125,000 per unit. This is not a passive investment. It is a portfolio built for investors who understand Class C workforce housing, recognize value-add opportunities, and appreciate the balance between operational involvement and long-term income potential. If you're looking for a pristine institutional asset, this isn't it. If you're looking for cash flow, upside, and know how to operate Class C workforce housing, let's talk.

29 Beds ⋅ 29 Baths ⋅ 6770068 MLS

17-UNIT VALUE-ADD WORKFORCE HOUSING PORTFOLIO | $2,125,000 | Approx. $125,000 Per Unit. Not every investor is the right buyer for this portfolio and that's exactly the point. This 17-unit workforce housing portfolio consists of individually deeded condominium units within Mountain Springs Terrace and is being offered as a single investment opportunity. The portfolio includes eleven 2-bedroom plus den/2-bath units, five 1-bedroom plus den/1-bath units, and one 3-bedroom/1-bath unit. (The den functions as a bedroom but does not have a window.) Offered at $2,125,000 approximately $125,000 per unit this is a value-add opportunity designed for investors who understand cash flow, operational improvements and long-term appreciation rather than turnkey perfection. The projected income profile offers the type of risk-adjusted return experienced investors often seek in workforce housing assets, recognizing that stronger returns typically accompany opportunities requiring active ownership and thoughtful management. This is an unwarrantable condominium community, making conventional residential financing challenging. The ideal purchaser will be an experienced investor utilizing commercial financing, cash, a 1031 Exchange, private capital, or other investment strategies appropriate for this asset class. Many units have been renovated over time, and every residence includes its own washer and dryer an amenity that continues to attract long-term tenants. The community offers covered parking, a swimming pool, on-site management office, barbecue area, and convenient access to major employment corridors, shopping, Loop 101, SR-51, and public transportation. Investment Highlights: Individually deeded condominium ownership providing long-term ownership flexibility and multiple future exit strategies. Professionally managed HOA. Continued capital improvements and ongoing maintenance demonstrate proactive ownership. Strong demand for workforce housing in an established North Phoenix rental market. Every residence includes an in-unit washer and dryer. Attractive basis at approximately $125,000 per unit. This is not a passive investment. It is a portfolio built for investors who understand Class C workforce housing, recognize value-add opportunities, and appreciate the balance between operational involvement and long-term income potential. If you're looking for a pristine institutional asset, this isn't it. If you're looking for cash flow, upside, and know how to operate Class C workforce housing, let's talk.

18202 Cave Creek Road Unit 17units, Phoenix

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