Property Type:
Multiple Dwellings
Status:
Active
Current Price:
$1,385,000
Last Modified:
6/17/2026
Search
2719 W MARYLAND Avenue, Phoenix, AZ 85017
$1,385,000
Description
Extensively renovated 8-unit multifamily community located along the I-17 corridor in Central Phoenix. Originally constructed in 1958, the property recently underwent a comprehensive renovation program totaling more than $400,000 in capital improvements. Upgrades include replacement of all plumbing and the main sewer line, new electrical systems, a new roof, repaved asphalt, and fully renovated unit interiors, providing investors with a truly turnkey asset requiring minimal ongoing maintenance or near-term capital expenditures. The property features an attractive mix of studio, one-bedroom, and two-bedroom floorplans currently generating nearly $10,600 in gross monthly rental income, offering stable day-one cash flow with strong long-term upside. 7.82% cap rate on current financials.
More Information MLS# 7043158
Contract Info
Ownership: Fee Simple
Current Price: $1,385,000
List Price: $1,385,000
Status: Active
List Date: 2026-06-17
Location, Tax & Legal
Assessor's Map #: 14
Legal Description (Abbrev): AMBASSADOR HTS PT LOT 4 E2 LOT 4 EX W 267.81' & EX S 150F & EX E 300F TH/OF & EX N 30F RD
Assessor's Parcel #: 14
Assessor Parcel Ltr: A
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 106900
Taxes: 2493
Legal: AMBASSADOR HTS PT LOT 4 E2 LOT 4 EX W 267.81' & EX S 150F & EX E 300F TH/OF & EX N 30F RD
Marketing Name: Maryland
House Number: 2719
Compass: W
Street Name: MARYLAND
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85017
Zip4: 1267
Country: US
County Code: Maricopa
Subdivision: AMBASSADOR HTS 9-14
Assessor Number: 152-14-014-A
Tax Year: 2025
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 12
Lot Size Dimensions: 152 X 60
Flood Zone: No
Total # of Units: 8
High School District: Glendale Union High School District
Year Built: 1971
Zoning: R-3
Legal Info
Range: 2E
Section: 11
Township: 2N
Lot Number: 4
Project Type
5 - 12 Units: 1
Construction
Block: 1
Wood Frame: 1
Const - Finish
Painted: 1
Roofing
Built-Up: 1
Floors
Vinyl: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 3000
Annual Gas Exp: 360
Annual Ins Exp: 4774
Annual Landscape Exp: 1488
Annual Trash Exp: 1872
Annual Wtr/Swr Exp: 3000
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 16987
Other Income: 4560
Vacancy Allowance: 0.05
Pmt & Rate Info
Cap Rate: 7.82
Equity: 1385000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: No Showing Service Used
Text: 1
Email: 1
Phone Call: 1
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Electric: 1
See Remarks: 1
Cooling
Electric: 1
Individual: 1
Exterior Amenities
Partially Fenced: 1
Tenant Pays
Electricity: 1
Cable TV: 1
Appliances Included
Disposal: 1
Microwave: 1
Refrigerator: 1
Built-In Range: 1
Other: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
1 Space/Unit: 1
Paved: 1
Electric
SRP: 1
Gas
SW Gas: 1
Other (See Remarks): 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
New Financing
Cash: 1
Cash to Loan: 1
Conventional: 1
1031 Exchange: 1
Other (See Remarks): 1
Existing 1st Loan
Conventional: 1
Existing 2nd Loan
Other (See Remarks): 1
Existing 3rd Loan
Other (See Remarks): 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
None: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
# Efficiency Units: 1
Avg Rent: 950
Avg SqFt: 415
# Baths: 1
1 Bedroom Units
# 1 Bedroom Units: 5
Avg Rent: 1354
Avg SqFt: 550
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 2
Avg Rent: 1425
Avg SqFt: 650
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Cross Street: Glendale and 27th Avenue
Geo Lat: 33.530999
Geo Lon: -112.118089
Income Expenses
Gross Annual Sch Inc: 127128
Net Operating Income: 108345
Property Features
Project Type: 5 - 12 Units
Construction: Block; Wood Frame
Const - Finish: Painted
Roofing: Built-Up
Floors: Vinyl
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Partially Fenced
Appliances Included: Built-In Range; Refrigerator; Disposal; Microwave; Other
Heating: See Remarks
Cooling: Electric; Individual
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: SW Gas; Other (See Remarks)
Parking Features: 1 Space/Unit; Paved
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity; Cable TV
Source of Fincl Data: Owner
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
Existing 1st Loan: Conventional
Existing 2nd Loan: Other (See Remarks)
Existing 3rd Loan: Other (See Remarks)
Existing 3rd Loan Type: Not Applicable
Existing 3rd Loan Terms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Cash; Cash to Loan; Conventional; 1031 Exchange; Other (See Remarks)
Environmental: None
Listing Office:
Matthews Real Estate Investment Services
Last Updated: June - 17 - 2026
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