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
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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
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Ask me questions while you tour the home.