2324 E OAK Street, Phoenix, AZ 85006

$980,000

Property Type: Multiple Dwellings Status: Active

Current Price: $980,000 Last Modified: 6/10/2026

Overview

Description

Income-producing multifamily investment. 2 detached single-family homes, leased at $2,800/month each. Tenants responsible for all utilities; water, sewer, electric, creating an efficient, low-maintenance ownership structure. Built with modern finishes and strong tenant appeal, each residence offers 3 beds, 2.5 baths, attached 2-car garage, open living spaces, quartz countertops, stainless appliances, and contemporary design. Additional upside potential with the opportunity to add an ADU to each home (buyer to verify), increasing future cash flow and overall asset value. Conveniently located near major employment centers, the Biltmore corridor, dining, shopping, and 51 access. A rare combination of stable income, low expenses, and future value-add potential. Drive by only.

Listing Details MLS# 7039794

Location, Tax & Legal

House Number: 2324
Compass: E
Street Name: OAK
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85006
Country: US
County Code: Maricopa
Subdivision: AVALON BLKS 1-4
Assessor Number: 117-08-031-A
Tax Year: 2025
Assessor's Map #: 8
Legal Description (Abbrev): LOT 20 BLOCK 2 AVALON BLKS 1-4 MCR 001624
Assessor's Parcel #: 31
Assessor Parcel Ltr: A
Add'l Parcels: No
Tax Municipality: Maricopa - COUNTY
Census Tract: 111601
Taxes: 4843
Legal: LOT 20 BLOCK 2 AVALON BLKS 1-4 MCR 001624
Marketing Name: AVALON

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 9644
Year Built: 2018
Uncvrd Parking Spcs: 4
Total # of Units: 2
# of Buildings: 2
Zoning: R-3
Flood Zone: TBD
Elementary School District: Creighton Elementary District
High School District: Phoenix Union High School District
Elementary School: William T Machan Elementary School
Jr. High School: Biltmore Preparatory Academy
High School: Camelback High School

Remarks Misc

Cross Street: 24th St & Oak ST
Directions: From Thomas Road head South on 24th Street, Right on Oak Street to property on Right side of Street.

Legal Info

Township: 2N
Range: 3E
Section: 34
Block: 2
Lot Number: 20

Income Expenses

Gross Annual Sch Inc: 67200
Net Operating Income: 67200

More Information

Showing Notification Methods

Showing Service: No Showing Service Used
Text: Yes
Email: Yes
Phone Call: Yes

3 Bedrooms Units

# 3 Bedroom Units: 2
Avg Rent: 2800
Avg SqFt: 2179
# Baths: 25

Project Type

Duplex: Yes

Other Type

House + Rental Units: Yes

Construction

Wood Frame: Yes

Const - Finish

Painted: Yes
Stucco: Yes

Roofing

Composition: Yes

Floors

Ceramic Tile: Yes

Sale Includes

Land & Building: Yes

Income & Expenses

Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 4843
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 63840

Pmt & Rate Info

Cap Rate: 6.86
Equity: 980000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0

Lockbox Type

None: Yes

Community Features

No Pool: Yes

Heating

Electric: Yes

Cooling

Ceiling Fan(s): Yes
Electric: Yes

Interior Features

Unfurnished: Yes
Fire/Smoke Alarm(s): Yes

Tenant Pays

Water: Yes
Sewer: Yes
Electricity: Yes
Cable TV: Yes

Appliances Included

Dishwasher: Yes
Disposal: Yes
Refrigerator: Yes
Built-In Range: Yes
W/D Hookup: Yes

Road Surface Type

Concrete: Yes

Source of Fincl Data

Owner: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

Garage: Yes
On Street: Yes
Paved: Yes
Add'l Parking Avail: Yes
Attached Garage: Yes

Electric

APS: Yes

Gas

None: Yes

Owner Pays

Trash Collection: Yes
Landscaping: Yes

New Financing

Cash: Yes
Conventional: Yes
1031 Exchange: Yes

Existing 1st Loan

Treat as Free&Clear: Yes

Existing 1st Loan Type

Not Applicable: Yes

Existing 1st Loan Terms

Not Applicable: Yes

Existing 2nd Loan

Other (See Remarks): Yes

Existing 2nd Loan Type

Not Applicable: Yes

Existing 2nd Loan Terms

Not Applicable: Yes

Existing 3rd Loan

Other (See Remarks): Yes

Existing 3rd Loan Type

Not Applicable: Yes

Reports/Disclosures

None: Yes

Existing 3rd Loan Terms

Not Applicable: Yes

Environmental

None: Yes

Existing Othr Ln Trm

Not Applicable: Yes

Efficiency Units

Avg Rent: 0

1 Bedroom Units

Avg Rent: 0

2 Bedroom Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: Duplex Other Type: House + Rental Units Construction: Wood Frame Const - Finish: Painted; Stucco Roofing: Composition Floors: Ceramic Tile Sale Includes: Land & Building Community Features: No Pool Interior Features: Unfurnished; Fire/Smoke Alarm(s) Appliances Included: Built-In Range; Refrigerator; Dishwasher; Disposal; W/D Hookup Cooling: Ceiling Fan(s); Electric Water Source: City Franchise Sewer: Sewer - Public Electric: APS Gas: None Parking Features: Garage; On Street; Add'l Parking Avail; Paved; Attached Garage Road Surface Type: Concrete Owner Pays: Trash Collection; Landscaping Tenant Pays: Water; Sewer; Electricity; Cable TV Source of Fincl Data: Owner Showing Notification Methods: Text; Email; Phone Call Lockbox Type: None Existing 1st Loan: Treat as Free&Clear Existing 1st Loan Type: Not Applicable Existing 1st Loan Terms: Not Applicable Existing 2nd Loan: Other (See Remarks) Existing 2nd Loan Type: Not Applicable Existing 2nd Loan Terms: Not Applicable Existing 3rd Loan: Other (See Remarks) Existing 3rd Loan Type: Not Applicable Existing 3rd Loan Terms: Not Applicable Existing Othr Ln Trm: Not Applicable New Financing: Cash; Conventional; 1031 Exchange Environmental: None

Listing Office: Compass

Last Updated: June - 10 - 2026