525 N 32ND Street Phoenix, AZ 85008
UPDATED:
02/10/2025 04:00 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Subdivision Shelton Add To Acre City
MLS Listing ID 6817995
Maintenance Fees $5,000
Originating Board Arizona Regional Multiple Listing Service (ARMLS)
Year Built 1947
Annual Tax Amount $2,789
Tax Year 2024
Lot Dimensions irr
Property Description
This offering includes two parcels at 525 & 526 N 32nd Street (APN: 121-17-026-A and 121-17-028-A), presenting an excellent value-add opportunity with below-market rents and redevelopment potential.
Property Details:
Studios: Currently rented at $750-$850 (Market: $950).
One-Bedroom Units: Currently at $850 to $950).
Three-Bedroom, One-Bath House (on second lot with an attached one-bedroom apartment): Rented at $1,300 with a $600 discount for the on-site manager (Market: $1,500).
Investment Highlights: Welcome to Twelve on 32nd Street Apartments, a centrally located multifamily investment in Phoenix, just across from Celebrity Theatre and near the Phoenix Airport with convenient freeway access.
This offering includes two parcels at 525 & 526 N 32nd Street (APN: 121-17-026-A and 121-17-028-A), presenting an excellent value-add opportunity with below-market rents and redevelopment potential.
Property Details:
Studios: Currently rented at $750-$850 (Market: $950).
One-Bedroom Units: Currently at $850 (Market: $950).
Three-Bedroom, One-Bath House (on second lot with an attached one-bedroom apartment): Rented at $1,300 with a $600 discount for the on-site manager (Market: $1,500).
Investment Highlights:
Below-Market Rents - Strong upside potential to increase rental income.
Redevelopment Potential - Opportunity to add more units or reposition the property.
Prime Location - Close to major transit, entertainment, and employment hubs.
All facts and figures are approximate. Buyer to verify all MLS information.
Location
State AZ
County Maricopa
Community Shelton Add To Acre City
Zoning Multi
Direction 32nd ST and Roosevelt
Interior
Heating Individual
Cooling Individual
Flooring Carpet, Ceramic Tile, Vinyl
Appliance F/S Oven/Range
Exterior
Parking Features Paved Parking, Free
Community Features No Pool
Roof Type Composition,Tile,Built-Up
Total Parking Spaces 14
Building
Sewer Public Sewer
Water City Franchise
New Construction No
Schools
Elementary Schools Brunson-Lee Elementary School
Middle Schools Balsz Online Academy (B.O.A.)
High Schools Alhambra High School
School District Phoenix Union High School District
Others
Senior Community No
Tax ID 121-17-026-A
Acceptable Financing Conventional
Listing Terms Conventional
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