5035 N 23RD Avenue, Phoenix, AZ 85015

Property Description

This Uptown PHX 9 unit complex is spread out on close to a 25,000 sf lot (R-3). Nice pocket north of Camelback Rd. 1 mile east of GCU & 1/2 mile east of the I-17. Opportunity Zone. The complex is buffered by the SRP-Westwood substation to the west, a newly-built fire station to the south, & owner-occupied properties on the same block. Hard to find SELLER FINANCING available, but not required (6% interest-only with 30% down). Fully upgraded & fully stabilized with close to a 7 CAP (based on the 2025 P&L of $122,000 NOI). Seven buildings. The unit mix consists of (2) two bedroom units; (4) one bedroom units; & (3) bigger studio units. The jumbo lot/zoning offers density & additional value potential. These units could be re-positioned for GCU students or short-term rentals. DND residents

Listing Status:

Active

Date Added:

March 2, 2026

Data Last Updated:

April 2, 2026 at 2:09AM

Listing Office:

Better Homes & Gardens Real Estate SJ Fowler : 480-649-3536

Listing Agent:

James C Stephens : 602-672-3526

MLS ID:

6993194

Interior

• Flooring: LaminateOtherCeramic TileVinylWoodConcrete
• A/C: OtherSee RemarksElectricHeat Pump
• Heating: OtherHeat PumpElectricNatural Gas

Exterior

• General: Sidewalk(s)
• Parking: Off StreetPavedFreeAssigned>1 Space Per UnitParking spaces: 14

Construction

• Roofing: CompositionRolled/Hot Mop
• General: Wood FramePaintedStuccoBlock

Location

• Road/Access: Asphalt
• Originating MLS: Arizona Regional Multiple Listing Service 2
• School District: Alhambra Elementary District
• County: Maricopa

Lot

• Zoning: R315325053

Utilities

• Water: See RemarksCity Franchise
• Sewer: See RemarksSewer-In & ConnectedPublic Sewer

Financial

• Source: Arizona Regional Multiple Listing Service 2