$1,040,000

2916 E MONROE Street, Phoenix, AZ 85034

EL MOLINO PLACE · Maricopa County

Built 1944 No HOA

96 days on market

Description

9 unit multifamily investment opportunity in Phoenix, AZ. Built in 1946, the property spans two contiguous parcels (2916 and 2920 E. Monroe Street) and features a diverse mix mix: (3) studios, (3) one-bedrooms, (2) two-bedrooms, and (1) large three-bedroom unit over 1,000 SF. The asset offers a cap rate of 7.79% on current financials resulting in stable cash flow with upside potential. Current ownership has already completed a full sewer line replacement, mitigating a major capital expense. Strategically located, the property provides convenient access to Downtown Phoenix, Phoenix Sky Harbor International Airport, and major transportation corridors (Loop 202 and I-10), ensuring strong long-term tenant demand and investment stability.

Property details

Interior

Bathrooms

Total Bathrooms: 0

Interior Features

Flooring: Ceramic Tile, Other

Appliances

Built-In Range
Free-Standing Range
Refrigerator
Microwave
Other

Heating and Cooling

Cooling Features: Central Air, Varies by Unit, See Remarks
Heating Features: Electric, Heat Pump, Varies by Unit, See Remarks

Exterior

Land Info

Lot Size Dimensions: 100 ft x 150 ft

Garage and Parking

Attached Garage: No
Parking Features: Other, On Street, >1 Space Per Unit

Community

Neighborhood

Subdivision: EL MOLINO PLACE

Listing

Other Property Info

Annual Tax Amount: $1,557
Source Listing Status: Active
County: Maricopa
Parcel Number: 121-65-018
Zoning: R-5
Postal City: Phoenix
Listing Date: 2/26/2026
MLS#: 6990042

Features

Building and Construction

Year Built: 1944
Property Age: 82
Construction Materials: Wood Frame, Other, Painted, Stucco
Roof: Composition, Other, Rolled/Hot Mop

Utilities

Water Source: City Franchise

Contact Us

Ask a question or schedule a showing

Listed by Bradley Skenderian Matthews Real Estate Investment Services

Listing updated: April 2, 2026

MLS#: 6990042

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