2719 W Maryland Ave - Apartments FOR SALE


Phoenix, AZ 85017- North Phoenix
$1,385,000 USD
949-533-5594
2719 W Maryland Ave, Phoenix, AZ for Sale
$1,385,000 USD
Apartments - FOR SALE
1/12
null | 7.82% Cap Rate

2719 W Maryland Ave
Phoenix, AZ 85017
North Phoenix


HIGHLIGHTS

  • 8-unit multifamily community extensively renovated 2025–2026 with $400,000+ in capital improvements
  • New roof, electrical systems, sewer lines & plumbing — fully renovated unit interiors
  • Current gross rent $10,594/month at 100% occupancy — strong day-one cash flow
  • 7.82% cap rate | $1,385,000 list price | $173,000 per unit
  • Centrally located along the I-17 corridor with immediate freeway access in Central Phoenix
  • Near Grand Canyon University, light rail & transit, and major employment hubs

OVERVIEW

Matthews™ is pleased to present 2719 W Maryland Ave, an extensively renovated 8-unit multifamily community located along the I-17 corridor in Central Phoenix. Originally constructed in 1958, the property recently underwent a comprehensive renovation program totaling more than $400,000 in capital improvements. Upgrades include replacement of all plumbing and the main sewer line, new electrical systems, a new roof, repaved asphalt, and fully renovated unit interiors, providing investors with a truly turnkey asset requiring minimal ongoing maintenance or near-term capital expenditures. The property features an attractive mix of studio, one-bedroom, and two-bedroom floorplans currently generating nearly $10,600 in gross monthly rental income, offering stable day-one cash flow with strong long-term upside. Positioned just west of 27th Avenue near Glendale Avenue with immediate access to Interstate 17, the property benefits from excellent connectivity to major employment corridors throughout Phoenix. Residents enjoy proximity to retail centers, public transportation, schools, healthcare facilities, and everyday conveniences, supporting long-term rental demand in the area. The surrounding submarket continues to experience strong population growth and rental demand driven by affordability relative to other Phoenix neighborhoods. 2719 W Maryland Ave represents a rare opportunity to acquire a stabilized, cash-flowing apartment community with extensive recent renovations, strong in-place operations, and excellent access to key transportation corridors and neighborhood amenities within one of Phoenix’s most active rental submarkets. Broker Of Record David Harrington Matthews Real Estate Investment Services, Inc BR715518000, CO701910000 (AZ) 4110 N Scottsdale Rd Suite 100, Scottsdale, AZ 85251 (866) 889-0550

FOR SALE DETAILS

PRICE

$1,385,000 USD

PRICE/SF

$295 USD /SF

# OF UNITS

8

PRICE/UNIT

$173,125

CAP RATE

7.82%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1958

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.21 AC

LAND SF

9,148 SF

ZONING

C-2

APN/PARCEL ID

152-14-014A

ASK ABOUT THIS PROPERTY

Brad SkenderianMatthews Real Estate Investment ServicesMore Info
949-533-5594

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Brad SkenderianMatthews Real Estate Investment ServicesMore Info
949-533-5594

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