525-526 N 32nd Street, 1-13, Phoenix, AZ 85008

$1,495,000
Property Type: Multiple Dwellings Status: Active
Current Price: $1,495,000 Last Modified: 6/18/2025

Description

Thirteen on 32nd Street Apartments, a prime 13-unit multifamily investment opportunity located in the heart of Phoenix, Arizona. This high-demand asset is positioned directly across from the Celebrity Theatre and just minutes from Phoenix Sky Harbor International Airport, with immediate access to the 202, SR-51, and I-10 freeways. Residents benefit from quick commutes to Downtown Phoenix and major employment hubs throughout the airport corridor. 525 & 526 N 32nd Street, Phoenix, AZ APNs: 121-17-026-A & 121-17-028-A This offering includes two contiguous parcels totaling approximately 10,498 square feet of rentable space across 13 units. The diversified unit mix offers strong leasing flexibility and long-term cash flow potential:

Supplements: Five legal studio units (Unit 7: ~400 SF; Units 6, 8, 9, 10: ~250 SF) One additional studio (Unit 12A: ~250 SF, seller-added) Current Rents: $750-$850 | Market Rent: ~$950 Six one-bedroom units (Units 1-5: ~600 SF; Unit 11: ~375 SF) Current Rent: ~$850 | Market Rent: ~$950 One detached single-family residence featuring a 2-bedroom, 1-bath home with an attached 1-bedroom apartment Rents are currently below market, offering investors a clear path to value-add upside through rental increases, improved management, and light renovations. Additional income is generated from tenant storage units (average $25/month), and the property also features an on-site laundry facility. Tenants enjoy private patios or balconies, and the property is within close proximity to Valleywise Health Medical Center, the VA Hospital, and other major employers in this thriving urban submarket. This is a rare opportunity to acquire a well-located, income-producing asset in a high-growth area with strong fundamentals and long-term appreciation potential. All facts and figures approximate buyer verify information

More Information MLS# 6881870

Contract Info

Current Price: $1,495,000 List Price: $1,495,000 Status: Active List Date: 2025-06-13 Ownership: Fee Simple

Location Tax Legal

House Number: 525-526 Compass: N Street Name: 32nd St Suffix: Street City/Town Code: Phoenix State/Province: AZ Zip Code: 85008 County Code: Maricopa Subdivision: SHELTON ADD LOT 20 W2 S 75' BLK 1 EX W 7' Assessor Number: 121-17-028 Tax Year: 20

General Property Description

Lot Size Dimensions: Irr Year Built: 1978 Uncvrd Parking Spcs: 14 Total # of Units: 13 # of Buildings: 2 Zoning: R-3 Elementary School District: Balsz Elementary District High School District: Phoenix Union High School District Elementary School: Brunson-Lee Elementary School Jr. High School: Balsz Online Academy (B.O.A.) High School: Alhambra High School

Remarks Misc

Cross Street: 32nd Street & Roosvelt Geo Lat: 33.454538 Geo Lon: -112.012477

Legal Info

Township: 1N Range: 3E Section: 1 Lot Number: 19 &20

Income Expenses

Gross Annual Sch Inc: 120900 Net Operating Income: 84345

Showing Notification Methods

Showing Service: Aligned Showings

Efficiency Units

# Efficiency Units: 6 Avg Rent: 770 Avg SqFt: 275 # Baths: 1

1 Bedroom Units

# 1 Bedroom Units: 6 Avg Rent: 855 Avg SqFt: 600 # Baths: 1

2 Bedroom Units

# 2 Bedroom Units: 1 Avg Rent: 1049 Avg SqFt: 1462 # Baths: 1

Property Features

Project Type: 5 - 12 Units; 13 - 24 Units Other Type: House + Rental Units Construction: Block Const - Finish: Painted; Stucco; Other (See Remarks) Roofing: Composition; Built-Up Floors: Vinyl; Ceramic Tile; Carpet Sale Includes: Land & Building; Laundry Equipment; Other (See Remarks) Community Features: No Pool; Other; See Remarks Exterior Amenities: Other (See Remarks) Interior Amenities: Other (See Remarks) Appliances Included: Free-Standing Electric Oven; See Remarks Heating: Individual; Central; Window/Wall Unit(s); Other Cooling: Window/Wall Unit Water Source: City Franchise; See Remarks Sewer: Sewer - Public; Other Electric: APS Gas: SW Gas Parking Features: Free; Paved Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity; Gas Source of Fincl Data: Owner; Other (See Remarks) Lockbox Type: None Existing 1st Loan: Treat as Free&Clear New Financing: Cash; VA; Conventional; Owner May Carry Environmental: Other (See Remarks)
Listing Office: Grace CRE
Last Updated: June - 18 - 2025
525-526 N 32nd Street, 1-13, Phoenix, AZ 85008- MLS# 6881870
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