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5623 W Myrtle Avenue, Glendale, AZ 85301

$2,350,000
Property Type: Multiple Dwellings Status: Active
Current Price: $2,350,000 Last Modified: 6/03/2026

Description

Positioned just north of the Glendale Avenue and 57th Avenue intersection in the charming Caitlin Court historic district sits Myrtle Court (''the property''), a fully renovated 15-unit multifamily community. The asset's proximity and direct exposure to Glendale Avenue provides excellent visibility from one of the primary roadways in Phoenix's West Valley Submarket. Positioned approximately 3-miles from Glendale's Westgate Entertainment District and the Cardinal's Statefarm Stadium offering residents access to premier entertainment and dining experiences, including NFL Football Games, concerts, and much more.

Supplements: In addition, the TSMC Campus, representing Arizona's largest foreign direct investment in the state's history, has been a primary catalyst to the West Valley's boom. TSMC's Campus is expected to total $40B in capital investment, add ±24,000 new jobs and 40 new companies relating to the Advanced Manufacturing sector coming to the surrounding area as a direct result of this monumental project. The West Valley is also home to some of The Valley's top major employment corridors, including, Loop 101 West Corridor, South Peoria Corridor, and SW Valley Industrial Corridor, boasting a combined ±148,000 employees and ±3,900 businesses. Completed in 1965 and renovated in 2024, Myrtle Court is comprised of 1 one-bedroom unit (7%),13 two-bedroom units (86%), and 1 three-bedroom house (7%), offering an average of ±690 square feet. All unit interiors have been completely renovated with new stainless-steel appliances, cabinets, flooring, quartz countertops, hardware and fixtures. In addition, the entire community has been renovated inclusive of smooth stucco, paint, landscaping, community laundry room, windows, electrical, roofs and mini-split HVAC systems.

More Information MLS# 7013604

Contract Info

Ownership: Fee Simple Current Price: $2,350,000 List Price: $2,350,000 Status: Active List Date: 2026-04-14

Location, Tax & Legal

Assessor's Map #: 25 Assessor's Parcel #: 38 Add'l Parcels: Yes Tax Municipality: Glendale Taxes: 5175 Legal: PARK Marketing Name: Myrtle Court House Number: 5623 Compass: W Street Name: Myrtle St Suffix: Avenue City/Town Code: Glendale State/Province: AZ Zip Code: 85301 Country: US County Code: Maricopa Assessor Number: 147-25-038 Tax Year: 2025

General Property Description

# of Buildings: 2 Uncvrd Parking Spcs: 20 Lot Size Dimensions: 0.32 Total # of Units: 15 Year Built: 1965 Zoning: R-3

Project Type

13 - 24 Units: 1

Construction

Block: 1

Const - Finish

Stucco: 1

Roofing

Composition: 1

Floors

Laminate: 1 Tile: 1 Vinyl: 1

Sale Includes

Land & Building: 1

Income & Expenses

Owner Association: No Annual Ownr Asoc Fee: 0 Operating Exp: 5175 Other Income: 13772 Vacancy Allowance: 0.07 Adjusted Gross Inc: 209924.25

Pmt & Rate Info

Cap Rate: 4.97 Equity: 2350000 Down Payment %: 0 Monthly Payments: 0 Total Owed: 0

Showing Notification Methods

Showing Service: Aligned Showings

Lockbox Type

None: 1

Community Features

No Pool: 1

Heating

Individual: 1

Cooling

Individual: 1

Exterior Amenities

Desert Landscaping: 1

Tenant Pays

Electricity: 1

Appliances Included

Free-Standing Electric Oven: 1 Washer/Dryer: 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 Per Unit: 1

Electric

SRP: 1

Gas

None: 1

Owner Pays

Water: 1 Sewer: 1 Trash Collection: 1 Landscaping: 1

New Financing

Cash: 1 Conventional: 1 1031 Exchange: 1

Reports/Disclosures

None: 1

Environmental

None: 1

Efficiency Units

Avg Rent: 0

1 Bedroom Units

# 1 Bedroom Units: 1 Avg Rent: 1100 Avg SqFt: 650 # Baths: 1

2 Bedroom Units

# 2 Bedroom Units: 13 Avg Rent: 1200 Avg SqFt: 650 # Baths: 13

3 Bedrooms Units

# 3 Bedroom Units: 1 Avg Rent: 1795 Avg SqFt: 1100 # Baths: 1

4 Bedrooms Units

Avg Rent: 0

Remarks Misc

Geo Lat: 33.542026 Geo Lon: -112.180842

Legal Info

Lot Number: 14

Income Expenses

Gross Annual Sch Inc: 211953 Net Operating Income: 116691

Property Features

Project Type: 13 - 24 Units Construction: Block Const - Finish: Stucco Roofing: Composition Floors: Laminate; Tile; Vinyl Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Desert Landscaping Appliances Included: Free-Standing Electric Oven; Washer/Dryer Heating: Individual Cooling: Individual Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: None Parking Features: >1 Space Per Unit Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity Source of Fincl Data: Owner Lockbox Type: None New Financing: Cash; Conventional; 1031 Exchange Environmental: None
Listing Office: Marcus & Millichap
IDX
Last Updated: June - 03 - 2026
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