1341 E Polk St - Apartments FOR SALE


Phoenix, AZ 85006- Garfield
$2,050,000 USD
602-714-1289
1341 E Polk St, Phoenix, AZ for Sale
$2,050,000 USD
Apartments - FOR SALE
1/13
null | 5% Cap Rate

1341 E Polk St
Phoenix, AZ 85006
Garfield


HIGHLIGHTS

  • 5 Units, Built in 2017
  • 80% 3-Bed / 3-Bath Units, & 20% 3-Bed / 2.5-Bath Units
  • Value-Add Opportunity Through Light Upgrades & Rental Increases
  • Spacious Layouts, Two-Car Garages, & In-Unit W/D
  • Individually Metered for Water & Electricity
  • Located in the Garfield Historic District, Walking Distance From Shops & Restaurants, 10 Minutes From Sky Harbor International Airport

OVERVIEW

1341 East Polk Street is a five-unit multifamily property located in the Garfield Historic District, one of Phoenix’s most vibrant and walkable neighborhoods. Built in 2017, the community combines modern construction with a highly desirable location, offering residents immediate access to local shops, restaurants, and cultural amenities—all just 10 minutes from Pheonix Sky Harbor International Airport. The property features a balanced unit mix of 80% three-bedroom/three-bath units and 20% three-bedroomtwo-and-a-half-bath units, catering to a wide variety of tenants seeking spacious layouts and functional design. Each residence includes highly attractive amenities such as a two-car garage, private balcony, and in-unit washer and dryer—features that distinguish the property from comparable rentals in the submarket. Inside, the units offer contemporary finishes with open kitchens, ample natural light, and comfortable living spaces. While the property is relatively new, there is clear value-add potential through light cosmetic upgrades and modest rental increases. This creates an immediate pathway to enhancing income while keeping capital expenditures manageable. From an operational standpoint, the property is individually metered for water and electricity, allowing for reduced owner expenses and improved efficiency. Combined with its strong physical features, desirable layouts, and prime location, 1341 East Polk Street presents investors with both stable in-place cash flow and significant upside potential in one of Phoenix’s most dynamic urban neighborhoods.

FOR SALE DETAILS

PRICE

$2,050,000 USD

PRICE/SF

$334 USD /SF

# OF UNITS

5

PRICE/UNIT

$410,000

CAP RATE

5%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Townhomes on Polk

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2017

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,019 SF

ZONING

R5

APN/PARCEL ID

116-25-179

ASK ABOUT THIS PROPERTY

Mitchell DrakeABI MultifamilyMore Info
602-714-1289

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Mitchell DrakeABI MultifamilyMore Info
602-714-1289

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.