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Veronica Sigala

veronica@lifestyleandlistings.com +1(949) 933-4137

$2,250,000

Est. payment - /mo

22 Beds

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UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

MLS Listing ID 7098707

Bedrooms 22

Maintenance Fees $9,500

Year Built 1956

Annual Tax Amount $4,960

Tax Year 2025

Lot Dimensions Normal

Source Arizona Regional Multiple Listing Service (ARMLS)

Property Description

Adams Street Apartments is a 16-unit apartment
community offering immediate value-add potential. Originally configured as 17 units, the property includes a storage room that could be converted back into a studio unit, creating an opportunity for additional rental income. Owned and operated by the same ownership since 2012, the property has benefited from consistent capital improvements, including new roofs, ongoing electrical panel replacements and extensive plumbing updates. Units have also been renovated incrementally as they become vacant. With a majority of long-term tenants paying below-market rents, the property offers investors multiple opportunities to increase income through continued renovations, loss to lease recovery and the restoration of the 17th unit.

Location

State AZ

County Maricopa

Area Maricopa

Zoning R-5

Interior

Heating Ceiling

Cooling Ceiling Fan(s), Electric

Flooring Concrete

Appliance Built-In Range, W/D Hookup

Exterior

Parking Features >1 Space Per Unit

Community Features No Pool

Roof Type Composition

Private Pool No

Building

Sewer Public Sewer

Water City Franchise

New Construction No

Schools

School District Phoenix Union High School District

Others

Senior Community No

Tax ID 115-03-040

Ownership Fee Simple

Acceptable Financing Cash, Conventional

Disclosures None

Listing Terms Cash, Conventional

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Listed by Orion Investment Real Estate • Colt Siler

NEARBY SCHOOL & BUSINESS

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19301938 E Adams Street Phoenix, AZ 85034