Price Reduction
2316 E ROOSEVELT Street, Phoenix, AZ
$ 2,200,000
Property Attributes
  • MLS#6599818
  • TypeContingent
  • CountyMARICOPA
  • CityPhoenix
  • NeighborhoodThe Franklin
  • Zip85006
  • StyleMultiple Dwellings
  • Year Built1949
  • Taxes$ 3266
  • Price$ 2,200,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
Data Source:
Arizona Regional MLS (ARMLSN)
Property Description

Great Opportunity To Purchase This 14 Unit Apartment Community Consisting of 10 Two Bedroom One Bath Units and 4 One Bedroom One Bath Units Located Just East of Downtown Phoenix. Updates Include Newer Roofs, Windows, Evap Coolers, Mini-Splits, Flooring, Interior Paint & Some Replaced Cabinets In A Few of The Units. Property Is Comprised of 8 Buildings & Situated on 2 Parcels of Land Totaling Over 1 Acre. All Units Have Their Own Electric Meters. Located At 24th Street & Roosevelt This Property Is Conveniently Located Near Several Major Employers, Major Freeways & Sky Harbor Airport.

Price History
9/1/2023 Listed $2,240,000
9/21/2023 2% - $2,200,000

General Features

Additional Parcels Y/N Yes
Attached Garage No
Cap Rate 5.27
Carport Y/N No
City Phoenix
Community Features No Pool
Construction Materials Stucco, Block
Cooling Individual, Evaporative Cooling, Wall/Window Unit(s), Ceiling Fan(s)
County Maricopa
Days on Market 20
Directions Use GPS
Disclosures None
Electric APS, Individual Meter
Electric Expense 550.0
Elementary School District Creighton Elementary District
Fuel Expense 1100.0
Garage Y/N No
Gross Income 155800.0
Heating Individual
High School District Phoenix Union High School District
Insurance Expense 3000.0
Lease Considered Y/N No
Lease Renewal Y/N No
Lot Size Square Feet 0.0
Maintenanceexpense 6000.0
Mobilehomeremainsyn No
Net Operating Income 118100.0
New_sp_Financing_co_Conventional5 True
Occupancy Description Tenant
Open Parking Spaces 32.0
Operating Expense 46181.0
Ownerpays Trash Collection, Water, Sewer, Landscaping
Ownership Fee Simple
Property Type Multiple Dwellings
Rent Control Y/N No
Roof Composition
Sewer Sewer-In & Connected, Public Sewer
Standard Status Active Under Contract
Status UCB (Under Contract-Backups)
Subdivision Name The Franklin
Tax Annual Amount 3266.0
Tax Lot .
Tax Year 2023
Tenant Pays Gas, Electricity
Total Units 14
Township 1N
Trash Expense 5000.0
View Y/N No
Water Sewer Expense 5730.0
Year Built 1949
Zoning R-5 & C-1

Interior Features

Air Conditioning Y/N Yes
Electric On Property Y/N No
Heating Y/N Yes
Street Suffix Street

Exterior Features

Buyer Agent Compensation 2.00
Buyer Agent Compensation Type %
Covered Spaces 0.0
Crops Included Y/N No
Irrigation Water Rights Y/N No
Lot Dimensions 297x155
Lot Size Acres 0.0
Lot Size Area 0.0
Number of Buildings 8
Open Parking Y/N No
Road Surface Type Asphalt
Spa No
Total Parking 32.0
Water Source City Franchise, Master Meter


  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Contingent Average in 85006

AVG $720K
AVG $1,335
AVG 116
Year Built
AVG 1935

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