480-442-0779

715-721 W CINNABAR Avenue, Phoenix, AZ 85021 (MLS# 6846493)

715-721 W CINNABAR Avenue, Phoenix, AZ 85021

$1,800,000
Property Type: Multiple Dwellings Status: Active
Current Price: $1,800,000 Last Modified: 5/10/2025

Description

Discover a prime investment opportunity in the heart of 85021, where convenience meets potential. This maintained portfolio spans three buildings across two parcels, offering a total of 9 units ideal for savvy investors. Each property boasts newer roofs, ensuring long-term value and minimal maintenance costs. Several units have been tastefully renovated, appealing to tenants seeking modern comforts. Currently, leases are predominantly government assisted, providing stable and predictable rental income. Location Highlights: Situated just moments from the light rail, commuting and accessibility are effortless, enhancing tenant appeal and reducing vacancy rates. The nearby park, less than a block away, offers a serene retreat and adds to the neighborhood's charm and desirability

Supplements: Discover a prime investment opportunity in the heart of 85021, where convenience meets potential. This maintained portfolio spans three buildings across two parcels, offering a total of 9 units ideal for savvy investors. Each property boasts newer roofs, ensuring long-term value and minimal maintenance costs. Several units have been tastefully renovated, appealing to tenants seeking modern comforts. Currently, leases are predominantly government assisted, providing stable and predictable rental income. Location Highlights: Situated just moments from the light rail, commuting and accessibility are effortless, enhancing tenant appeal and reducing vacancy rates. The nearby park, less than a block away, offers a serene retreat and adds to the neighborhood's charm and desirability. Investment Opportunity: With a strategic location in 85021, known for its vibrant community and proximity to essential amenities, these properties promise both immediate returns and long-term appreciation. Whether you're expanding your portfolio or entering the lucrative real estate market, this offering is not to be missed. Proximity:  Light Rail: The 85021 area is conveniently located near the Valley Metro Light Rail, providing easy access to public transportation throughout the Phoenix metropolitan area.  Interstate 17 (I-17): Close proximity to Interstate 17 facilitates quick access to downtown Phoenix and other parts of the valley. Employment Base:  The area around 85021 is supported by a diverse employment base, including sectors such as healthcare, education, technology, and service industries. Hiking and Outdoor Recreation:  Residents can enjoy outdoor activities with nearby access to hiking trails in scenic locations such as North Mountain Park and Shaw Butte. Entertainment and Dining:  The 85021 area offers a variety of entertainment options, including shopping centers, restaurants, and cultural venues, ensuring a vibrant local scene. Public Transportation:  Bus Routes: Several bus routes serve the 85021 area, enhancing connectivity for commuters and residents alike. Discover a prime investment opportunity in the heart of 85021. This well-maintained portfolio spans three buildings across two parcels, offering a total of 9 units ideal for savvy investors. Property Highlights:  Newer roofs, ensuring long-term value and minimal maintenance costs  Several renovated units offering modern comforts for tenants  Leases are predominantly government-assisted, providing stable income  Prime location, just moments from the light rail for easy accessibility  Less than one block from a local park, enhancing tenant appeal and neighborhood charm Explore the potential of these income-generating properties in a sought-after locale.

More Information MLS# 6846493

Contract Info

Current Price: $1,800,000 List Price: $1,800,000 Status: Active List Date: 2025-04-04 Ownership: Fee Simple

Location Tax Legal

House Number: 715-721 Compass: W Street Name: CINNABAR St Suffix: Avenue City/Town Code: Phoenix State/Province: AZ Zip Code: 85021 Zip4: 2356 Country: US County Code: Maricopa Subdivision: Ironwood Place Assessor Number: 158-29-050 Tax Year: 2024

General Property Description

Lot Size Dimensions: 61' x 199' Year Built: 1960 Uncvrd Parking Spcs: 14 Total # of Units: 9 # of Buildings: 3 Zoning: R-3 High School District: Glendale Union High School District High School: Sunnyslope High School

Remarks Misc

Cross Street: Peoria and 7th Ave Geo Lat: 33.576395 Geo Lon: -112.083248

Status Change Info

Status Change Date: 2025-04-04

Legal Info

Township: 3N Range: 3E Section: 30 Lot Number: 18

Income Expenses

Gross Annual Sch Inc: 161796 Net Operating Income: 121398

Showing Notification Methods

Showing Service: Aligned Showings

1 Bedroom Units

# 1 Bedroom Units: 9 Avg Rent: 400 Avg SqFt: 600 # Baths: 1

Property Features

Project Type: 5 - 12 Units Other Type: Packaged Offering Construction: Block Const - Finish: Painted; Stucco Roofing: Composition Floors: Concrete; Vinyl; Carpet Sale Includes: Land & Building; Personal Property Community Features: No Pool Exterior Amenities: Green Landscaping; Cable TV Available; Separate Storage Interior Amenities: Unfurnished Appliances Included: Free-Standing Range Heating: Heat Pump; 2 or More Units; Other; See Remarks Cooling: Window/Wall Unit; Individual; 2 or More Units Water Source: City Franchise Sewer: Sewer - Public Electric: APS Gas: SW Gas Parking Features: On Street; 1 Space/Unit; Add'l Parking Avail Owner Pays: Water; Gas; Trash Collection; Landscaping Tenant Pays: Electricity; Cable TV Source of Fincl Data: Owner Status Update: Buyer Signed Bank Addenda Lockbox Type: See Private Remarks; None Existing 1st Loan: Treat as Free&Clear Existing 1st Ln Type: Not Applicable Existing 1st Ln Trms: Not Applicable Existing 2nd Loan: Treat as Free&Clear Existing 2nd Ln Type: Not Applicable Existing 2nd Ln Trms: Not Applicable Existing 3rd Loan: Treat as Free&Clear Existing 3rd Ln Type: Not Applicable Existing 3rd Ln Trms: Not Applicable Existing Othr Ln Trm: Not Applicable New Financing: Other (See Remarks) Environmental: None
Listing Office: Gerchick Real Estate
Last Updated: May - 10 - 2025
715-721 W CINNABAR Avenue, Phoenix, AZ 85021- MLS# 6846493
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