$2,799,000

5623 W Myrtle Ave Glendale, AZ 85301

Downtown Glendale Neighborhood

Estimated payment $16,059/month

Total Views 2,448
-- Bed
-- Bath
-- Sq Ft
-- Price per Sq Ft

Highlights

  • Cooling Available
  • Vinyl Flooring
  • Heating Available

About This Home

Positioned just north of the Glendale Avenue and 57th Avenue intersection in the charming Caitlin Court historic district sits Myrtle Court (''the property''), a fully renovated 15-unit multifamily community. The asset's proximity and direct exposure to Glendale Avenue provides excellent visibility from one of the primary roadways in Phoenix's West Valley Submarket. Positioned approximately 3-miles from Glendale's Westgate Entertainment District and the Cardinal's Statefarm Stadium offering residents access to premier entertainment and dining experiences, including NFL Football Games, concerts, and much more. In addition, the TSMC Campus, representing Arizona's largest foreign direct investment in the state's history, has been a primary catalyst to the West Valley's boom. TSMC's Campus is expected to total $40B in capital investment, add ±24,000 new jobs and 40 new companies relating to the Advanced Manufacturing sector coming to the surrounding area as a direct result of this monumental project. The West Valley is also home to some of The Valley's top major employment corridors, including, Loop 101 West Corridor, South Peoria Corridor, and SW Valley Industrial Corridor, boasting a combined ±148,000 employees and ±3,900 businesses.
Completed in 1965 and renovated in 2024, Myrtle Court is comprised of 14 two-bedroom units (93%) and 1 three-bedroom house (7%), offering an average of ±672 square feet. All unit interiors have been Completely renovated with new stainless-steel appliances, cabinets, flooring, quartz countertops, hardware and fixtures. In addition, the entire community has been renovated inclusive of smooth stucco, paint, landscaping, community laundry room, windows, electrical, roofs and mini-split HVAC systems.

Listing Agent

Paul Bay

Marcus & Millichap License #SA671037000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,228

Year Built

  • Built in 1965

Home Design

  • Composition Roof
  • Block Exterior

Parking

  • 20 Open Parking Spaces
  • 20 Parking Spaces

Utilities

  • Cooling Available
  • Heating Available

Additional Features

  • Vinyl Flooring
  • Additional Parcels

Listing and Financial Details

  • The owner pays for trash collection, water, sewer
  • Tax Lot 13
  • Assessor Parcel Number 147-27-037

Community Details

Overview

  • 2 Buildings
  • 15 Units
  • Building Dimensions are 0.32

Building Details

  • Operating Expense $66,755
  • Gross Income $223,365
  • Net Operating Income $157,381

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,228

Year Built

Built in 1965

Lot Details

0

Listing Details

  • Property Type: Multiple Dwellings
  • Zoning: R-3
  • Number Of Buildings: 2
  • Ownership: Fee Simple
  • Year Built: 1965
  • Tax Year: 2025
  • Road Surface Type: Asphalt
  • Professional Management Expense: 8965.0
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Vinyl
  • Appliances: F/S Oven/Range, Microwave, Washer/Dryer
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Microwave2: Yes
  • Appliances Included:WasherDryer: Yes
  • Appliances Included:Refrigerator2: Yes
  • Appliances Included:Dishwasher2: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Painted, Block
  • Roof: Composition
  • Construction:Block: Yes

Garage/Parking

  • Parking Features: >1 Space Per Unit
  • Attached Garage: No
  • Open Parking Spaces: 20.0
  • Total Parking Spaces: 20.0
  • General Property Description:Uncvrd Parking Spcs: 20.0
  • General Property Description:Total Parking Spcs: 20.0
  • Parking:_greater_1 Space Per Unit: Yes

Utilities

  • Electric: SRP
  • Cooling: Electric
  • Heating: Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Exterior Amenities:Green Landscaping: Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Desert Landscaping: Yes
  • Interior Amenities:Unfurnished: Yes

Lot Info

  • Lot Size: 0.32
  • Additional Parcels: Yes
  • Parcel #: 147-27-037

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer
  • Tenant Pays: Electricity
  • Number Of Units Total: 15
  • Electric Expense: 16266.0
  • Annual Gross Income: 223364.96
  • Insurance Expense: 7725.0
  • Maintenance Expense: 7836.0
  • Property Net Operating Income: 157381.0
  • Annual Operating Expense: 66755.0
  • Vacancy Allowance Rate: 0.08

Tax Info

  • Tax Annual Amount: 5228.0
  • Tax Book Number: 147.00
  • Tax Lot: 13

Map

Range of Values:

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Average Value
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/02/2025 03/02/25 For Sale $2,799,000 -- --
Source: Arizona Regional Multiple Listing Service (ARMLS)

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6828869

Arizona Regional Multiple Listing Service (ARMLS)

Arizona Maricopa County Glendale 85301 Downtown Glendale

5623 W Myrtle Ave, Glendale, AZ

Homes for Sale in Glendale, AZ

This home is located at 5623 W Myrtle Ave, Glendale, AZ 85301 and is currently priced at $2,799,000. This property was built in 1965. 5623 W Myrtle Ave is a home located in Maricopa County with nearby schools including Glendale Landmark Middle School, Glendale High School, and Grace Lutheran School.

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.

Arizona Regional Multiple Listing Service (ARMLS) 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

Paul Bay
Listing Agent
Paul Bay
Section Image
Marcus & Millichap
(623) 624-9521