1015 S 1st Ave Phoenix, AZ 85003
Central City NeighborhoodEstimated payment $3,808/month
Highlights
- Cooling Available
- Ceramic Tile Flooring
- Ceiling Fan
- Phoenix Coding Academy Rated A
- Forced Air Heating System
- 4-minute walk to Central Park
About This Home
Exceptional 3-unit, garden-style investment opportunity offering a 9.23% gross CAP rate. The property features a thoughtfully reimagined front residence originally built in 1936 and fully renovated in 2024, along with a newly constructed rear ADU completed in 2024. The unit mix includes one (1) 3-bed/2-bath unit, (1) 2-bed/2bath unit, and (1) 2-bed/1-bath unit. Each residence offers fully upgraded interiors with white quartz countertops, luxury vinyl plank flooring, subway tile showers, stainless steel appliances, and in-unit washer and dryer. Recent exterior improvements include new stucco, dual-pane windows, new HVAC systems, a new roof, and ample on-site storage. Tenants also enjoy access to a spacious shared backyard area, creating a comfortable outdoor setting for residents. designed for shared outdoor living. Ideally situated in the Roosevelt Arts District, the property offers convenient access to Downtown Phoenix's thriving cultural venues, acclaimed dining, and premier entertainment destinations.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $523
Year Built
- Built in 1936
Home Design
- Built-Up Roof
- Block Exterior
- Stucco
Interior Spaces
- Ceiling Fan
- Ceramic Tile Flooring
Parking
- 5 Open Parking Spaces
- 5 Parking Spaces
Schools
- Lowell Elementary School
- Phoenix #1 Iacademy Middle School
Utilities
- Cooling Available
- Forced Air Heating System
- Natural Gas Not Available
Listing and Financial Details
- The owner pays for water, sewer
- Tax Lot 7
- Assessor Parcel Number 112-24-105
Community Details
Overview
- 2 Buildings
- 3 Units
- Building Dimensions are 134'x50'
- Montgomery Subdivision
Building Details
- Operating Expense $523
- Gross Income $66,840
- Net Operating Income $66,840
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $523 | $4,139 | -- | -- |
| 2024 | $486 | $3,942 | -- | -- |
| 2023 | $486 | $20,660 | $4,130 | $16,530 |
| 2022 | $467 | $15,420 | $3,080 | $12,340 |
| 2021 | $468 | $12,300 | $2,460 | $9,840 |
| 2020 | $475 | $10,860 | $2,170 | $8,690 |
| 2019 | $475 | $8,460 | $1,690 | $6,770 |
| 2018 | $466 | $8,850 | $1,770 | $7,080 |
| 2017 | $450 | $6,610 | $1,320 | $5,290 |
| 2016 | $437 | $6,270 | $1,250 | $5,020 |
| 2015 | $398 | $4,460 | $890 | $3,570 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 03/04/2026 03/04/26 | For Sale | $714,900 | +142.3% | -- | |
| 06/17/2024 06/17/24 | Sold | $295,000 | -9.2% | $234 / Sq Ft | View Prior Sale |
| 04/20/2024 04/20/24 | Pending | -- | -- | -- | |
| 04/12/2024 04/12/24 | For Sale | $324,900 | -- | $257 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | -- | Premier Title Agency | |
| Warranty Deed | $295,000 | Security Title Agency | |
| Interfamily Deed Transfer | -- | -- | |
| Interfamily Deed Transfer | -- | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $450,000 | New Conventional | |
| Previous Owner | $280,250 | New Conventional |
Source: Arizona Regional Multiple Listing Service (ARMLS)
MLS Number: 6992945
APN: 112-24-105
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS
Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393
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Ask me questions while you tour the home.