502 N 11TH Street, Phoenix, AZ 85006

$629,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $629,000 Last Modified: 7/09/2026

Overview

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!

Supplements: 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-s ... (Read more)

Listing Details MLS# 6938774

Location, Tax & Legal

House Number: 502
Compass: N
Street Name: 11TH
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85006
Zip4: 4013
Country: US
County Code: Maricopa
Subdivision: MT PLEASANT TRACT BLOCKS 2-5
Assessor Number: 116-26-102
Tax Year: 2025
Assessor's Map #: 26
Legal Description (Abbrev): MT PLEASANT TR PT LOTS 7 & 8 BLK 5 S 70'
Assessor's Parcel #: 102
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 113202
Taxes: 1288
Legal: MT PLEASANT TR PT LOTS 7 & 8 BLK 5 S 70'
Marketing Name: GARFIELD District 4 Plex

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 99.83 x 70.26 x 99.77 x 70.26
Year Built: 1960
Uncvrd Parking Spcs: 4
Total # of Units: 4
# of Buildings: Yes
Zoning: Multi-Family
Flood Zone: No
Elementary School District: Phoenix Elementary District
High School District: Phoenix Union High School District
Elementary School: Garfield School
Jr. High School: Garfield School
High School: North High School

Remarks Misc

Cross Street: 7th STREET & ROOSEVELT
Directions: Roosevelt to 11th ST, South to Taylor, Property is located on the corner of Taylor and 11th ST

Status Change Info

Off Market Date: 2026-07-09
Under Contract Date: 2026-06-02
Close of Escrow Date: 2026-07-08

Legal Info

Township: 1N
Range: 3E
Section: 4
Lot Number: 7

More Information

Income Expenses

Gross Annual Sch Inc: 52488
Net Operating Income: 42045

Showing Notification Methods

Showing Service: Aligned Showings

Efficiency Units

# Efficiency Units: 2
Avg Rent: 950
Avg SqFt: 360
# Baths: Yes

1 Bedroom Units

# 1 Bedroom Units: 2
Avg Rent: 1050
Avg SqFt: 440
# Baths: Yes

Contact Info

List Agent Home Phn: 602-795-0341

Sold Info

Loan Type: VA
Loan Years: 30
Payment Type: Fixed
Closing Cost Split: Seller Assist - A
Buyer Concession $/%: $
Seller Concession to Buyer: 10000
Seller Concession $/%: $
Buyer Concession to Seller: 0

Project Type

Four Plex: Yes

Construction

Block: Yes

Const - Finish

Painted: Yes

Roofing

Composition: Yes

Floors

Tile: Yes

Sale Includes

Land & Building: Yes
Personal Property: Yes

Income & Expenses

Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 1800
Annual Land Lse Exp: 0
Annual Landscape Exp: 1800
Annual Legal & Acctg: 0
Annual Maint Exp: 1335
Annual Mgmt Exp: 3120
Annual Trash Exp: 1794
Annual Wtr/Swr Exp: 485
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 11622
Other Income: 300
Vacancy Allowance: 0
Adjusted Gross Inc: 52788
Total Monthly Rental Income: 4374

Pmt & Rate Info

Cap Rate: 6.48
Equity: 649000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0

Lockbox Type

None: Yes

Community Features

No Pool: Yes

Heating

Heat Pump: Yes
Electric: Yes

Cooling

Ceiling Fan(s): Yes
Central Air: Yes
Individual: Yes

Exterior Amenities

Fenced: Yes
Partially Fenced: Yes
Cable TV Available: Yes
Sidewalk(s): Yes

Interior Features

Unfurnished: Yes
Fire/Smoke Alarm(s): Yes
Vertical Blinds: Yes
Breakfast Bar: Yes

Tenant Pays

Gas: Yes
Electricity: Yes
Cable TV: Yes

Appliances Included

Free-Standing Gas Oven: Yes
Refrigerator: Yes
Washer/Dryer: Yes

Road Access Type

City Street: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Other (See Remarks): Yes

Road Responsibility

City Maintained Road: Yes

Water Source

Master Meter: Yes

Sewer

Sewer - Public: Yes

Parking Features

On Street: Yes
Paved: Yes

Electric

APS: Yes
Individual Meter: Yes

Gas

SW Gas: Yes
City Gas: Yes
Individual Meter: Yes

Owner Pays

Water: Yes
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

Treat as Free&Clear: Yes

Existing 2nd Loan Type

Not Applicable: Yes

Existing 2nd Loan Terms

Not Applicable: Yes

Existing 3rd Loan

Treat as Free&Clear: 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

2 Bedroom Units

Avg Rent: 0

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: Four Plex Construction: Block Const - Finish: Painted Roofing: Composition Floors: Tile Sale Includes: Land & Building; Personal Property Community Features: No Pool Exterior Amenities: Fenced; Partially Fenced; Cable TV Available; Sidewalk(s) Interior Features: Unfurnished; Fire/Smoke Alarm(s); Vertical Blinds; Breakfast Bar Appliances Included: Free-Standing Gas Oven; Refrigerator; Washer/Dryer Heating: Heat Pump Cooling: Ceiling Fan(s); Individual; Central Air Water Source: Master Meter Sewer: Sewer - Public Electric: APS; Individual Meter Gas: SW Gas; City Gas; Individual Meter Parking Features: On Street; Paved Road Access Type: City Street Road Surface Type: Asphalt Road Responsibility: City Maintained Road Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity; Gas; Cable TV Source of Fincl Data: Other (See Remarks) 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: Treat as Free&Clear Existing 2nd Loan Type: Not Applicable Existing 2nd Loan Terms: Not Applicable Existing 3rd Loan: Treat as Free&Clear 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

Documents

LBPD ›

MCA ›

Garfield District Map ›

4-Plex Detail ›

Listing Office: CTS Realty

Last Updated: July - 09 - 2026