$1,800,000
715-721 W CINNABAR Avenue
Phoenix, AZ 85021
MLS# 6846493



715-721 W CINNABAR Avenue, Phoenix, AZ 85021
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715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021 715-721 W CINNABAR Avenue, Phoenix, AZ 85021

Property Description
Discover a prime investment opportunity in the heart of 85021, where convenience meets potential. This maintained portfolio spans three buildings across two parcels, offering a total of 9 units ideal for savvy investors. Each property boasts newer roofs, ensuring long-term value and minimal maintenance costs. Several units have been tastefully renovated, appealing to tenants seeking modern comforts. Currently, leases are predominantly government assisted, providing stable and predictable rental income. Location Highlights: Situated just moments from the light rail, commuting and accessibility are effortless, enhancing tenant appeal and reducing vacancy rates. The nearby park, less than a block away, offers a serene retreat and adds to the neighborhood's charm and desirability

Details
Contract Info
Current Price: $1,800,000
List Price: $1,800,000
Status: Active
List Date: 2025-04-04
Ownership: Fee Simple
Location Tax Legal
House Number: 715-721
Compass: W
Street Name: CINNABAR
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85021
Zip4: 2356
Country: US
County Code: Maricopa
Subdivision: Ironwood Place
Assessor Number: 158-29-050
Tax Year: 2024
General Property Description
Lot Size Dimensions: 61' x 199'
Year Built: 1960
Uncvrd Parking Spcs: 14
Total # of Units: 9
# of Buildings: 3
Zoning: R-3
High School District: Glendale Union High School District
High School: Sunnyslope High School
Remarks Misc
Cross Street: Peoria and 7th Ave
Geo Lat: 33.576395
Geo Lon: -112.083248
Status Change Info
Status Change Date: 2025-04-04
Legal Info
Township: 3N
Range: 3E
Section: 30
Lot Number: 18
Income Expenses
Gross Annual Sch Inc: 161796
Net Operating Income: 121398
Showing Notification Methods
Showing Service: Aligned Showings
1 Bedroom Units
# 1 Bedroom Units: 9
Avg Rent: 400
Avg SqFt: 600
# Baths: 1
Property Features
Project Type: 5 - 12 Units
Other Type: Packaged Offering
Construction: Block
Const - Finish: Painted; Stucco
Roofing: Composition
Floors: Concrete; Vinyl; Carpet
Sale Includes: Land & Building; Personal Property
Community Features: No Pool
Exterior Amenities: Green Landscaping; Cable TV Available; Separate Storage
Interior Amenities: Unfurnished
Appliances Included: Free-Standing Range
Heating: Heat Pump; 2 or More Units; Other; See Remarks
Cooling: Window/Wall Unit; Individual; 2 or More Units
Water Source: City Franchise
Sewer: Sewer - Public
Electric: APS
Gas: SW Gas
Parking Features: On Street; 1 Space/Unit; Add'l Parking Avail
Owner Pays: Water; Gas; Trash Collection; Landscaping
Tenant Pays: Electricity; Cable TV
Source of Fincl Data: Owner
Status Update: Buyer Signed Bank Addenda
Lockbox Type: See Private Remarks; None
Existing 1st Loan: Treat as Free&Clear
Existing 1st Ln Type: Not Applicable
Existing 1st Ln Trms: Not Applicable
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Ln Type: Not Applicable
Existing 2nd Ln Trms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Ln Type: Not Applicable
Existing 3rd Ln Trms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Other (See Remarks)
Environmental: None
Supplements
Discover a prime investment opportunity in the heart of 85021, where convenience meets potential. This maintained portfolio spans three buildings across two parcels, offering a total of 9 units ideal for savvy investors. Each property boasts newer roofs, ensuring long-term value and minimal maintenance costs. Several units have been tastefully renovated, appealing to tenants seeking modern comforts. Currently, leases are predominantly government assisted, providing stable and predictable rental income. Location Highlights: Situated just moments from the light rail, commuting and accessibility are effortless, enhancing tenant appeal and reducing vacancy rates. The nearby park, less than a block away, offers a serene retreat and adds to the neighborhood's charm and desirability. Investment Opportunity: With a strategic location in 85021, known for its vibrant community and proximity to essential amenities, these properties promise both immediate returns and long-term appreciation. Whether you're expanding your portfolio or entering the lucrative real estate market, this offering is not to be missed. Proximity:  Light Rail: The 85021 area is conveniently located near the Valley Metro Light Rail, providing easy access to public transportation throughout the Phoenix metropolitan area.  Interstate 17 (I-17): Close proximity to Interstate 17 facilitates quick access to downtown Phoenix and other parts of the valley. Employment Base:  The area around 85021 is supported by a diverse employment base, including sectors such as healthcare, education, technology, and service industries. Hiking and Outdoor Recreation:  Residents can enjoy outdoor activities with nearby access to hiking trails in scenic locations such as North Mountain Park and Shaw Butte. Entertainment and Dining:  The 85021 area offers a variety of entertainment options, including shopping centers, restaurants, and cultural venues, ensuring a vibrant local scene. Public Transportation:  Bus Routes: Several bus routes serve the 85021 area, enhancing connectivity for commuters and residents alike. Discover a prime investment opportunity in the heart of 85021. This well-maintained portfolio spans three buildings across two parcels, offering a total of 9 units ideal for savvy investors. Property Highlights:  Newer roofs, ensuring long-term value and minimal maintenance costs  Several renovated units offering modern comforts for tenants  Leases are predominantly government-assisted, providing stable income  Prime location, just moments from the light rail for easy accessibility  Less than one block from a local park, enhancing tenant appeal and neighborhood charm Explore the potential of these income-generating properties in a sought-after locale.

Listing Office: Gerchick Real Estate

Last Updated: May - 12 - 2025

715-721 W CINNABAR Avenue, Phoenix, AZ 85021 - MLS# 6846493

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