909 S 35th Avenue, Phoenix, AZ 85009
- $1,110,000
- List Price
- $1,110,000
- Days on Market
- 81
- Status
- ACTIVE
- MLS#
- 7025359
- City
- Phoenix
- Subdivision
- Tierra Verde
- Year Built
- 1946
Property Description
Discover a prime investment opportunity in strong central Phoenix with this fully occupied 8-unit multifamily complex generating consistent cash flow from day one. This exceptional property comprises three spacious 1-bedroom, 1-bathroom units and five efficient studio units, perfectly positioned to capitalize on the area's high demand for affordable rentals where vacancies remain rare. Each unit features its own electrical sub-panel for independent metering and billing. While all three 1-bedroom units boast in-unit washer/dryers for premium tenant appeal, and studios share a convenient on-site laundry facility. The property is fully fenced with one dedicated parking spot per unit, creating a secure and organized community. Major systems including plumbing, electrical, and HVAC were professionally upgraded in 2021, ensuring reliability and minimal maintenance concerns for years to come. The property is well-maintained with regular upkeep including fresh paint and timely repairs. With its R-5 zoning allowing for maximum density in multifamily development, this property presents significant future redevelopment possibilities for investors seeking long-term upside potential. Located strategically near Downtown Phoenix, the Central Avenue light rail extension, and with easy access to I-10 and I-17, residents enjoy quick commutes to key employment corridors and major transit routes. Beyond the stable current income, this is a true value-add opportunity--the large lot provides room for expansion, and there's strong potential to increase returns by replacing flooring and installing washer/dryers in the remaining studio units, or utilizing the huge courtyard for income-producing amenities like vending machines. This combines built-in stability with substantial upside for an investor ready to maximize returns. DRIVE-BY ONLY; please do not disturb tenants. Walkthroughs available only with accepted offers. Buyer to verify all information.
Additional Information
- Community Features
- No Pool, Other, Play Area, Barbecue
- Construction
- Block, Stucco
- Cooling
- Electric
- Electric
- APS, Master Meter
- Exterior Features
- Sidewalk(s)
- Flooring
- Ceramic Tile
- Heating
- Electric
- New Financing
- Conventional, 1031 Exchange, Cash
- Parking Features
- 1 Space/Unit, Paved
- Roofing
- Composition
- Subdivision
- Tierra Verde
- Taxes
- $988
- Tax Year
- 2025
- Tenant Pays
- Water, Sewer, Electricity, Gas, Trash Collection, See Remarks
- Units
- 8
- Water
- Master Meter
- Zoning
- R-5
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Listing courtesy of Fathom Realty.
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved.