10213 N 15th Ave
Property Description
From an investment standpoint, the offering delivers a 6.45% cap rate on in-place income of $38,877, with a clear path to a 6.87% proforma cap as gross scheduled income moves to $40,800 and cash-on-cash return improves from 3.50% to 5.57%. The property currently operates under owner management, leaving room in the proforma for professional management efficiencies and rent optimization on approximately $1,923 of annual upside. The location is a key value driver: sited on 15th Avenue minutes from both the Black Canyon Freeway (I-17) and the Piestewa Freeway (SR-51), the property offers tenants direct access to Downtown Phoenix and Midtown employment corridors, within a three-mile radius serving 148,848 residents and 36,792 renter-occupied households at an average income of $87,735. The result is a well-located, cash-flowing asset with immediate income, defined rent upside, and a scarce small-lot profile—an ideal acquisition for a private investor or 1031 buyer seeking a stable, manageable asset with room to grow.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $450,000 |
| No. of Units: | 3 |
| Year Built: | 1981 |
| Lot Size: | 0.17 Acres |
| Opportunity Zone: | No |
| Price per unit: | $150,000 |
| Property Website | Click Here |
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