Property Type:
Multiple Dwellings
Status:
Active
Current Price:
$1,780,000
Last Modified:
4/13/2026
Search
5035 N 23RD Avenue, Phoenix, AZ 85015
$1,780,000
Description
This Uptown PHX 9-unit complex is spread out on close to a 25,000 sf lot (R-3). Nice pocket north of Camelback Rd. 1 mile east of GCU & 1/2 mile east of the I-17. Opportunity Zone. The complex is buffered by the SRP-Westwood substation to the west, a newly built fire station to the south, & owner-occupied properties on the same block. 100% Occupancy! Hard to find SELLER FINANCING available but not required (6% interest-only with 30% down). Fully upgraded & fully stabilized with close to a 7 CAP (based on the 2025 P&L of $122,000 NOI). Seven buildings. The unit mix consists of (2) two-bedroom units; (4) one-bedroom units; & (3) bigger studio units. The jumbo lot/zoning offers density & additional value potential. These units could be re-positioned for GCU students or short-term rentals.
More Information MLS# 6993194
Contract Info
Ownership: Fee Simple
Current Price: $1,780,000
List Price: $1,780,000
Status: Active
List Date: 2026-03-02
Location, Tax & Legal
Assessor's Map #: 25
Legal Description (Abbrev): CAMELBACK GARDENS MCR 29/37 LOT 4 BLK 3 & W2 OF ABAND ALLEY LY E OF & ADJ TO E LN SD LOT AS ABAND P
Assessor's Parcel #: 53
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 107300
Taxes: 6272
Legal: CAMELBACK GARDENS MCR 29/37 LOT 4 BLK 3 & W2 OF ABAND ALLEY LY E OF & ADJ TO E LN SD LOT AS ABAND P
Marketing Name: Uptown PHX 9
House Number: 5035
Compass: N
Street Name: 23RD
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85015
Zip4: 2710
County Code: Maricopa
Subdivision: CAMELBACK GARDENS
Assessor Number: 153-25-053
Tax Year: 2025
General Property Description
# of Buildings: 7
Uncvrd Parking Spcs: 14
Lot Size Dimensions: .556 acres
Flood Zone: No
Total # of Units: 9
Elementary School District: Alhambra Elementary District
High School District: Phoenix Union High School District
High School: Central High School
Year Built: 1958
Zoning: R3
Legal Info
Range: 2E
Section: 13
Township: 2N
Lot Number: 4
Project Type
5 - 12 Units: 1
Construction
Block: 1
Wood Frame: 1
Const - Finish
Painted: 1
Stucco: 1
Other (See Remarks): 1
Roofing
Composition: 1
Rolled: 1
Floors
Laminate: 1
Concrete: 1
Vinyl: 1
Wood: 1
Ceramic Tile: 1
Other: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 0
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 0
Annual Mgmt Exp: 0
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 0
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 42708.6
Operating Exp: 48980.6
Other Income: 2400
Vacancy Allowance: 0.03
Adjusted Gross Inc: 171282.6
Total Monthly Rental Income: 14515
Pmt & Rate Info
Cap Rate: 6.87
Down Payment: 0
Equity: 1780000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Showing Notification Methods
Showing Service: No Showing Service Used
Lockbox Type
None: 1
Community Features
No Pool: 1
Other: 1
See Remarks: 1
Heating
Heat Pump: 1
Electric: 1
Natural Gas: 1
Other: 1
Cooling
Electric: 1
Heat Pump: 1
Other: 1
See Remarks: 1
Exterior Amenities
Desert Landscaping: 1
Fenced: 1
Curb(s) & Gutter(s): 1
Cable TV Available: 1
Sidewalk(s): 1
Separate Storage: 1
Other (See Remarks): 1
Interior Features
Unfurnished: 1
Other (See Remarks): 1
Tenant Pays
Electricity: 1
Other (See Remarks): 1
Appliances Included
Dishwasher: 1
Microwave: 1
Refrigerator: 1
Free-Standing Range: 1
Other: 1
See Remarks: 1
Road Access Type
City Street: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Other (See Remarks): 1
Road Responsibility
City Maintained Road: 1
Water Source
City Franchise: 1
See Remarks: 1
Sewer
Sewer - Public: 1
Sewer-In & Connected: 1
See Remarks: 1
Parking Features
Free: 1
>1 Space Per Unit: 1
Paved: 1
Assigned: 1
Off Street: 1
Electric
SRP: 1
Gas
Other (See Remarks): 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
See Remarks: 1
New Financing
Cash: 1
Conventional: 1
Owner May Carry: 1
Other (See Remarks): 1
Special
Incorporated Area: 1
Existing 1st Loan
Conventional: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 1
Existing 2nd Loan
Other (See Remarks): 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Other (See Remarks): 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
Seller Prop Disc Stm: 1
Other (See Remarks): 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
Other (See Remarks): 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
# Efficiency Units: 3
Avg Rent: 1435
Avg SqFt: 500
# Baths: 1
1 Bedroom Units
# 1 Bedroom Units: 4
Avg Rent: 1692
Avg SqFt: 525
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 2
Avg Rent: 1721
Avg SqFt: 730
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Cross Street: CAMELBACK RD & 23RD AVE
Directions: East of the I-17 and north of Camelback Rd.
Geo Lat: 33.510897
Geo Lon: -112.107835
Income Expenses
Gross Annual Sch Inc: 174180
Net Operating Income: 122302
Property Features
Project Type: 5 - 12 Units
Construction: Block; Wood Frame
Const - Finish: Painted; Stucco; Other (See Remarks)
Roofing: Composition; Rolled
Floors: Laminate; Concrete; Vinyl; Wood; Ceramic Tile; Other
Sale Includes: Land & Building
Community Features: No Pool; Other; See Remarks
Exterior Amenities: Desert Landscaping; Fenced; Curb(s) & Gutter(s); Cable TV Available; Sidewalk(s); Separate Storage; Other (See Remarks)
Interior Features: Unfurnished; Other (See Remarks)
Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Microwave; Other; See Remarks
Heating: Natural Gas; Heat Pump; Other
Cooling: Electric; Heat Pump; Other; See Remarks
Water Source: City Franchise; See Remarks
Sewer: Sewer - Public; Sewer-In & Connected; See Remarks
Electric: SRP
Gas: Other (See Remarks)
Parking Features: >1 Space Per Unit; Assigned; Free; Paved; Off Street
Road Access Type: City Street
Road Surface Type: Asphalt
Road Responsibility: City Maintained Road
Owner Pays: Water; Trash Collection; Landscaping; See Remarks
Tenant Pays: Electricity; Other (See Remarks)
Source of Fincl Data: Owner; Other (See Remarks)
Special: Incorporated Area
Lockbox Type: None
Existing 1st Loan: Conventional
Existing 1st Loan Type: Not Applicable
Existing 1st Loan Terms: Not Applicable
Existing 2nd Loan: Other (See Remarks)
Existing 2nd Loan Type: Not Applicable
Existing 2nd Loan Terms: Not Applicable
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; Conventional; Owner May Carry; Other (See Remarks)
Environmental: Other (See Remarks)
Listing Office:
Better Homes & Gardens Real Estate SJ Fowler
Last Updated: April - 13 - 2026
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