2916 E Monroe St Phoenix, AZ 85034
Central City NeighborhoodEstimated payment $5,472/month
Highlights
- Ceramic Tile Flooring
- Central Air
- Heat Pump System
- Phoenix Coding Academy Rated A
About This Home
9 unit multifamily investment opportunity in Phoenix, AZ. Built in 1946, the property spans two contiguous parcels (2916 and 2920 E. Monroe Street) and features a diverse mix mix: (3) studios, (3) one-bedrooms, (2) two-bedrooms, and (1) large three-bedroom unit over 1,000 SF. The asset offers a cap rate of 7.79% on current financials resulting in stable cash flow with upside potential. Current ownership has already completed a full sewer line replacement, mitigating a major capital expense. Strategically located, the property provides convenient access to Downtown Phoenix, Phoenix Sky Harbor International Airport, and major transportation corridors (Loop 202 and I-10), ensuring strong long-term tenant demand and investment stability.
Listing Agent
Matthews Real Estate Investment Services License #SA692958000 Listed on: 02/26/2026
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $1,557
Year Built
- Built in 1944
Home Design
- Wood Frame Construction
- Composition Roof
- Stucco
Parking
- 15 Open Parking Spaces
- 15 Parking Spaces
Schools
- Wilson Elementary Middle School
Utilities
- Central Air
- Heat Pump System
Additional Features
- Ceramic Tile Flooring
- Additional Parcels
Listing and Financial Details
- The owner pays for water, sewer, trash collection
- Legal Lot and Block 16 / 1
- Assessor Parcel Number 121-65-018
Community Details
Overview
- 6 Buildings
- 9 Units
- Building Dimensions are 100 ft x 150 ft
- El Molino Place Subdivision
Building Details
- Operating Expense $31,557
- Net Operating Income $80,990
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $1,557 | $11,160 | -- | -- |
| 2024 | $1,462 | $10,629 | -- | -- |
| 2023 | $1,462 | $60,255 | $12,045 | $48,210 |
| 2022 | $1,378 | $43,155 | $8,625 | $34,530 |
| 2021 | $1,398 | $33,720 | $6,735 | $26,985 |
| 2020 | $1,392 | $28,215 | $5,640 | $22,575 |
| 2019 | $1,386 | $23,715 | $4,740 | $18,975 |
| 2018 | $1,369 | $19,170 | $3,825 | $15,345 |
| 2017 | $1,273 | $18,645 | $3,720 | $14,925 |
| 2016 | $1,303 | $13,890 | $2,775 | $11,115 |
| 2015 | $1,291 | $12,272 | $2,448 | $9,824 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 02/26/2026 02/26/26 | For Sale | $1,040,000 | -- | -- |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | -- | -- | |
| Warranty Deed | $195,000 | Pioneer Title Agency Inc | |
| Trustee Deed | $84,091 | None Available | |
| Warranty Deed | $240,000 | Stewart Title & Trust Of Pho | |
| Warranty Deed | $210,000 | Stewart Title & Trust Of Pho | |
| Cash Sale Deed | $83,000 | Security Title Agency | |
| Cash Sale Deed | $50,500 | Chicago Title | |
| Warranty Deed | $116,611 | Chicago Title | |
| Interfamily Deed Transfer | -- | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $704,500 | New Conventional | |
| Previous Owner | $195,000 | Commercial | |
| Previous Owner | $124,700 | Credit Line Revolving | |
| Previous Owner | $245,000 | Commercial |
Source: Arizona Regional Multiple Listing Service (ARMLS)
MLS Number: 6990042
APN: 121-65-018
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS
Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393
- 2901 E Van Buren St Unit 19
- 2821 E Adams St
- 2802 E Van Buren St
- 1426 E Washington St Unit 19 & 20
- 2505 E Monroe St
- 1002 N 27th Place
- 2708 E Roosevelt St
- 1008 N 27th St
- 2301 E Taylor St
- 3529 E Taylor St
- 2329 E Mckinley St Unit 14
- 1113 N 25th Place
- 2242 E Taylor St
- 2238 E Taylor St
- 2230 E Taylor St
- 2646 E Willetta St
- 2236 E Roosevelt St
- 2245 E Portland St
- 1018 N 22nd Place
- 2621 E Brill St
- 622 N 30th Place Unit 4
- 411 N 32nd Place
- 411 N 32nd Place
- 3002 E Mckinley St Unit 4
- 3205 E Garfield St
- 3230 E Roosevelt St
- 1124 N 27th St Unit 4
- 1126 N 27th St Unit 5
- 1037 N 25th St Unit 2
- 2142 E Taylor St Unit 7
- 1414 N 27th St Unit 1
- 2646 E Willetta St
- 2501 E Culver St Unit C
- 3026 E Brill St Unit 3
- 2537 E Willetta St Unit 1
- 1119 N 35th St Unit 4
- 3806 E Polk St Unit SI ID1244297P
- 275 Gateway Dr Unit SI ID1244332P
- 1500 N 35th St
- 1234 N 36th St Unit 209
Ask me questions while you tour the home.