Positioned in downtown Phoenix, this multifamily property offers an attractive opportunity for investors looking to enter a rapidly growing urban market. The site is currently improved with five tenant-occupied units that operate on flexible month-to-month lease agreements. Generating approximately $77,400 in annual gross income, the property delivers stable in-place revenue while offering significant upside potential through unit optimization. With two non-conforming units onsite, there is room to reposition the asset into seven income-producing units, thereby enhancing cash flow and property value. The surrounding neighborhood is a dense, urban environment benefiting from proximity to the Arizona State Capitol, downtown business hubs, and major Phoenix transit routes. Access to Interstate 10 and the light rail system provides seamless connectivity across the metropolitan area, supporting tenant demand for centrally located housing. For savvy investors seeking a value-add play, this property combines competitive pricing, income diversity, and strong residential fundamentals within Phoenix's high-demand multifamily sector.