2719 W Maryland Avenue, Phoenix, AZ 85017
- $1,385,000
- List Price
- $1,385,000
- Days on Market
- 40
- Status
- ACTIVE
- MLS#
- 7043158
- City
- Phoenix
- Subdivision
- Ambassador Hts 9-14
- Year Built
- 1971
Property Description
Extensively renovated 8-unit multifamily community located along the I-17 corridor in Central Phoenix. Originally constructed in 1958, the property recently underwent a comprehensive renovation program totaling more than $400,000 in capital improvements. Upgrades include replacement of all plumbing and the main sewer line, new electrical systems, a new roof, repaved asphalt, and fully renovated unit interiors, providing investors with a truly turnkey asset requiring minimal ongoing maintenance or near-term capital expenditures. The property features an attractive mix of studio, one-bedroom, and two-bedroom floorplans currently generating nearly $10,600 in gross monthly rental income, offering stable day-one cash flow with strong long-term upside. 7.82% cap rate on current financials.
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Additional Information
- Community Features
- No Pool
- Construction
- Block, Wood Frame, Painted
- Cooling
- Electric, Varies by Unit
- Electric
- SRP
- Heating
- Electric, See Remarks
- New Financing
- Cash, Conventional, 1031 Exchange, Other (See Remarks)
- Parking Features
- 1 Space/Unit, Paved
- Roofing
- Built-Up
- Subdivision
- Ambassador Hts 9-14
- Taxes
- $2,493
- Tax Year
- 2025
- Tenant Pays
- Electricity, Cable TV
- Units
- 8
- Water
- City Franchise
- Zoning
- R-3
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Listing courtesy of Matthews Real Estate Investment Services.
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.