8910-8912 N 3rd Street, Phoenix, AZ 85020

$1,500,000

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Property Type: Multiple Dwellings Status: Active

Current Price: $1,500,000 List Date: 11/26/2025 Last Modified: 5/25/2026

Overview

Description

100% OCCUPIED + FULLY UPDATED ELECTRICAL & WIRING. Fully renovated 10-unit multifamily asset in the highly desirable Uptown Phoenix submarket. The property features a compelling unit mix across two contiguous parcels and benefits from approximately $355,000 of capital improvements completed over the last 1.5 years. With strong leasing momentum, stabilized operations, and market rent upside, this property is well-positioned for both yield-focused and appreciation-driven investors.

Listing Details MLS# 6951020

Location, Tax & Legal

House Number: 8910-8912
Compass: N
Street Name: 3rd
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85020
Zip4: 2837
Country: US
County Code: Maricopa
Subdivision: SUNNYSLOPE
Assessor Number: 160-50-087
Tax Year: 2024
Assessor's Map #: 50
Legal Description (Abbrev): SUNNY SLOPE
Assessor's Parcel #: 87
Add'l Parcels: Yes
Tax Municipality: Phoenix
Census Tract: 105300
Taxes: 2731.86
Legal: SUNNY SLOPE
Marketing Name: 3rd Street Apartments

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 100 x 125
Year Built: 1945
Uncvrd Parking Spcs: 10
Total # of Units: 10
# of Buildings: Yes
Zoning: R-5
Flood Zone: No
Elementary School District: Washington Elementary School District
High School District: Glendale Union High School District
Elementary School: Desert View Elementary School
Jr. High School: Royal Palm Middle School
High School: Sunnyslope High School

Remarks Misc

Cross Street: Dunlap & 3rd Street
Directions: East from Central on Dunlap. South on 3rd St

Legal Info

Township: 3N
Range: 3E
Section: 32
Lot Number: 20

Income Expenses

Gross Annual Sch Inc: 132000
Net Operating Income: 112987

More Information

Showing Notification Methods

Showing Service: Aligned Showings
Text: Yes
Email: Yes
Phone Call: Yes

Efficiency Units

# Efficiency Units: 2
Avg Rent: 938
Avg SqFt: 325
# Baths: Yes

1 Bedroom Units

# 1 Bedroom Units: 6
Avg Rent: 1116
Avg SqFt: 550
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: 2
Avg Rent: 1210
Avg SqFt: 750
# Baths: Yes

Project Type

5 - 12 Units: Yes

Construction

Block: Yes

Const - Finish

Painted: Yes
Brick Veneer: Yes

Roofing

Composition: Yes

Floors

Concrete: Yes
Vinyl: Yes

Sale Includes

Land & Building: Yes

Income & Expenses

Annual Ins Exp: 6985
Annual Maint Exp: 11000
Annual Trash Exp: 3325
Annual Wtr/Swr Exp: 5051
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 29092.86
Other Income: 10080
Vacancy Allowance: 0
Adjusted Gross Inc: 142080
Total Monthly Rental Income: 9523

Pmt & Rate Info

Cap Rate: 6.46
Equity: 1750000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0

Lockbox Type

None: Yes

Community Features

No Pool: Yes

Heating

Electric: Yes
Natural Gas: Yes

Cooling

Ceiling Fan(s): Yes
Central Air: Yes
Window/Wall Unit: Yes

Exterior Amenities

Fenced: Yes
Sidewalk(s): Yes
Patio/Balcony: Yes
Separate Storage: Yes

Tenant Pays

Other (See Remarks): Yes

Appliances Included

See Remarks: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Other (See Remarks): Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

>1 Space Per Unit: Yes
Paved: Yes

Electric

APS: Yes
Individual Meter: Yes

Gas

SW Gas: Yes

Owner Pays

See Remarks: Yes

New Financing

Cash: Yes
Conventional: Yes
No Carry: Yes
1031 Exchange: Yes

Reports/Disclosures

None: Yes

Environmental

None: Yes

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: 5 - 12 Units Construction: Block Const - Finish: Painted; Brick Veneer Roofing: Composition Floors: Concrete; Vinyl Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Fenced; Sidewalk(s); Patio/Balcony; Separate Storage Appliances Included: See Remarks Heating: Natural Gas Cooling: Ceiling Fan(s); Window/Wall Unit; Central Air Water Source: City Franchise Sewer: Sewer - Public Electric: APS; Individual Meter Gas: SW Gas Parking Features: >1 Space Per Unit; Paved Road Surface Type: Asphalt Owner Pays: See Remarks Tenant Pays: Other (See Remarks) Source of Fincl Data: Other (See Remarks) Showing Notification Methods: Text; Email; Phone Call Lockbox Type: None New Financing: Cash; Conventional; No Carry; 1031 Exchange Environmental: None

Listing Office: The Broker Reserve LLC

Last Updated: May - 25 - 2026