502 N 11th Street, Phoenix, AZ 85006
- $649,000
- List Price
- $649,000
- Price Change
- ▼ $25,500 1770084291
- Days on Market
- 275
- Status
- ACTIVE UNDER CONTRACT
- MLS#
- 6938774
- City
- Phoenix
- Subdivision
- Mt Pleasant Tract Blocks 2-5
- Year Built
- 1960
Property Description
**GARFIELD DISTRICT** is culturally-rich, w/HISTORICAL significance, mixed w/CONTEMPORARY community-life, PERFECTLY located IN-THE-HEART-OF-DOWNTOWN-PHOENIX's urban-landscape**EXCEPTIONAL-OPPORTUNITY** (2) units are 1 bd/1 bath & (2) units are Studio-flats~ALL units have GAS ranges, & FULL size STACKABLE washer/dryers~Units are submetered for Electric and Gas which Tenants pay~Each unit has Central air-conditioning systems~Duplexes & 4-Plexes in the area are selling upwards of $850K and vacant-lots in the area are listed over $1 million~This HISTORIC property was built-in 1960 & has been renovated throughout the years, it holds STRONG, cash-flow and LONG-TERM appreciation potential~This 4-Plex is A HIDDEN-GEM located in the reimagined, downtown, Phoenix, BOOMING rental-market! Located in the Garfield Historic District, one of the most desirable and rapidly evolving areas near Downtown Phoenix, this well-maintained 4-plex offers strong cash flow and long-term appreciation potential. Property Highlights: 4 total units (2) One-Bedroom / One-Bath units (2) Studio units Central air conditioning in all units Gas ranges Full-size stackable washer/dryers in each unit Electric and gas sub-metered (tenants pay utilities) Renovated and maintained over the years Investment Highlights: Strong potential rental-yield (7%) Located minutes from downtown employment, hospitals, universities, and entertainment High demand rental market in central Phoenix Comparable duplexes and four-plexes in the area selling over $800K Nearby redevelopment and vacant land listings exceeding $1M Value-Add Potential Opportunity to increase rents over time in a rapidly appreciating neighborhood Potential to further enhance units for additional upside Desirable location for long-term rental demand Location: Situated in the vibrant Garfield neighborhood, known for its historic charm, arts community, and proximity to downtown Phoenix, the property benefits from continued urban revitalization and strong tenant demand. Ideal for investors seeking cash flow + appreciation potential in one of Phoenix's most dynamic central neighborhoods.
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Additional Information
- Elementary School
- Garfield School
- High School
- North High School
- Middle School
- Garfield School
- Community Features
- No Pool
- Construction
- Block, Painted
- Cooling
- Central Air, Varies by Unit, Ceiling Fan(s)
- Electric
- APS, Individual Meter
- Exterior Features
- Sidewalk(s)
- Heating
- Electric, Heat Pump
- New Financing
- Conventional, 1031 Exchange, Cash
- Parking Features
- Paved, On Street
- Roofing
- Composition
- Subdivision
- Mt Pleasant Tract Blocks 2-5
- Taxes
- $1,288
- Tax Year
- 2025
- Tenant Pays
- Electricity, Gas, Cable TV
- Units
- 4
- Water
- Master Meter
- Zoning
- Multi-Family
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Listing courtesy of CTS Realty.
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