2525 E Monroe Street, Phoenix, AZ 85034

$659,000
List Price
$659,000
Days on Market
6
Status
ACTIVE
MLS#
6728959
City
Phoenix
Year Built
1962

Property Description

Monroe 4 (''the property'') is a 4-unit apartment community located near the 24th Street and Van Buren Street intersection, positioned less than a mile from the intersection of three significant Phoenix Metro thoroughfares, Loop 202, Interstate 10, and AZ-51, offering outstanding mobility throughout Phoenix Metro. Located 2.3 Miles from Downtown Phoenix and 4 Miles from the Biltmore financial district, residents have access to some of Arizona's most dynamic professional corridors featuring employers such as Accenture, Ernst Young, Arizona State University, Cisco, Merrill Lynch, Charles Schwab, Humana, Fennemore Craig, and UBS. Developed in 1962, Monroe 4 is comprised entirely of two-bedroom floor plans, each offering an average of 621 square feet. Future ownership will have the opportunity to capitalize on the current below-market rents by raising new-lease rates to match those achieved by similar properties nearby. Additionally, there is also the opportunity to upgrade each of the 4 units with various interior finishes in order to realize the associated renovation premiums.

Additional Information

School District
Phoenix Union High School District
Community Features
No Pool
Construction
Painted, Stucco, Frame - Wood
Cooling
Individual, Electric, Wall/Window Unit(s), Ceiling Fan(s)
Electric
SRP, Individual Meter
Flooring
Carpet, Vinyl
Heating
Individual, Window/Wall Unit(s), Electric
New Financing
Conventional, 1031 Exchange, FHA
Parking Features
>1 Space Per Unit
Roofing
Composition
Sewer
Public Sewer
Taxes
$975
Tax Year
2023
Tenant Pays
Electricity
Units
4
Water
City Franchise
Zoning
M-H

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Marcus & Millichap.

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