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(480) 332-5220
Bissing Real Estate
2525 E Monroe Street, Phoenix, AZ 85034
- $570,000
- 8
- BD
- 16
- BA
- Sold Price
- $570,000
- List Price
- $659,000
- Closing Date
- Aug 20, 2024
- Days on Market
- 58
- Status
- CLOSED
- MLS#
- 6728959
- City
- Phoenix
- Bedrooms
- 8
- Bathrooms
- 16
- Year Built
- 1962
Property Description
Monroe 4 (''the property'') is a 4-unit apartment community located near the 24th Street and Van Buren Street intersection, positioned less than a mile from the intersection of three significant Phoenix Metro thoroughfares, Loop 202, Interstate 10, and AZ-51, offering outstanding mobility throughout Phoenix Metro. Located 2.3 Miles from Downtown Phoenix and 4 Miles from the Biltmore financial district, residents have access to some of Arizona's most dynamic professional corridors featuring employers such as Accenture, Ernst Young, Arizona State University, Cisco, Merrill Lynch, Charles Schwab, Humana, Fennemore Craig, and UBS. Developed in 1962, Monroe 4 is comprised entirely of two-bedroom floor plans, each offering an average of 621 square feet. Future ownership will have the opportunity to capitalize on the current below-market rents by raising new-lease rates to match those achieved by similar properties nearby. Additionally, there is also the opportunity to upgrade each of the 4 units with various interior finishes in order to realize the associated renovation premiums.
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Additional Information
- Community Features
- No Pool
- Construction
- Wood Frame, Painted, Stucco
- Cooling
- Electric, Varies by Unit, Window/Wall Unit, Ceiling Fan(s)
- Electric
- Individual Meter, SRP
- Heating
- Electric, Varies by Unit, Window/Wall Unit(s)
- New Financing
- FHA, Conventional, 1031 Exchange, Cash
- Parking Features
- >1 Space Per Unit
- Roofing
- Composition
- Sewer
- Public Sewer
- Taxes
- $975
- Tax Year
- 2023
- Tenant Pays
- Electricity
- Units
- 4
- Water
- City Franchise
- Zoning
- M-H
Courtesy of Marcus & Millichap. 602-687-6700 Selling Office: America One Luxury Real Estate.
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